Goldman plans 18-month contingent coupon autocallables tied to indexes

By Susanna Moon

Chicago, Aug. 3 – GS Finance Corp. plans to price 18-month autocallable contingent coupon notes linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 8.5% to 9.5% if each index closes at or above its coupon barrier level, 85% of its initial level, on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any determination date from November 2016 through November 2017.

The payout at maturity will be par plus the contingent coupon unless either index finishes below it 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 40054KH58.

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