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Goldman plans contingent yield trigger autocallables tied to two indexes
By Susanna Moon
Chicago, Nov. 16 – GS Finance Corp. plans to price 0% trigger autocallable contingent yield notes due Dec. 3, 2026 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 7% to 8% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter. The exact coupon will be set at pricing.
The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold level, 50% of the initial level, in which case investors will lose 1% for every 1% loss of the worse performing index.
Goldman, Sachs & Co. is the agent.
The notes will price on Nov. 28 and settle on Nov. 30.
The Cusip number is 36251U277.
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