GS Finance plans 10% contingent income autocallables linked to Valero

New York, July 17 – GS Finance Corp. plans to price contingent income autocallable securities due July 24, 2020 linked to the common stock of Valero Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

If Valero shares close at or above the downside threshold level, 75% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 10%.

The notes will be called at par of $10 plus the contingent coupon if Valero shares close at or above the initial share price on any quarterly determination date other than the final determination date.

If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.

Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.

The notes are expected to price on July 21 and settle three days later.

The Cusip number is 36253M422.

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