Goldman plans contingent income autocallables tied to Bank of America

By Susanna Moon

Chicago, Feb. 14 – GS Finance Corp. plans to price contingent income autocallable securities due Feb. 21, 2020 linked to Bank of America Corp. stock, according to an FWP 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 9.85% if the shares close at or above the 75% downside threshold on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Tesla shares close at or above the initial level on any of the first 11 determination dates.

The payout at maturity will be par plus the final coupon unless the shares finish below the 75% downside threshold, in which case investors will lose 1% for each 1% decline.

Goldman, Sachs & Co. is the underwriter, with Morgan Stanley Wealth Management as dealer.

The notes will price on Feb. 17.

The Cusip number is 36251U871.

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