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GS Finance plans callable contingent coupon notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., Oct. 19 – GS Finance Corp. plans to price callable contingent coupon notes due Oct. 25, 2018 linked to 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.3% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
Beginning in October 2017, the notes will be callable at par plus the coupon, if any, on any interest payment date.
The payout at maturity will be par plus the final coupon, unless the return of either index is less than negative 25%, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price Oct. 20.
The Cusip number is 40054KMN3.
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