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Goldman plans eight-year contingent coupon callable notes on indexes
By Susanna Moon
Chicago, April 11 – GS Finance Corp. plans to price 0% callable contingent coupon notes due April 29, 2024 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon trigger level, 60% of its initial index level, on the determination date for that quarter.
The notes are callable at par on any payment date from April 29, 2017 to Jan. 29, 2024.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs & Co. is the agent.
The notes will price on April 27 and settle on April 29.
The Cusip number is 40054KAK2.
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