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Goldman eyes callable contingent coupon notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 10 – GS Finance Corp. plans to price callable contingent coupon index-linked notes due Feb. 28, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 annualized rate of 6.2% to 7.2% if each index closes at or above its coupon trigger level, 50% of its initial level, on the valuation date for that quarter.
The notes may be called at par plus any contingent coupon due on any coupon payment date after six months.
The payout at maturity will be par plus the contingent coupon unless either index finishes below 50% of its initial level, in which case investors will be fully exposed to the decline of the worse performing index.
Goldman, Sachs & Co. is the agent.
The notes will price on Feb. 23 and settle on Feb. 28.
The Cusip number is 40054KV52.
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