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GS plans callable buffered contingent coupon notes on Stoxx, EM ETF
New York, July 21 – GS Finance Corp. plans to price 36-month buffered contingent coupon notes linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each month, the notes will pay a contingent coupon at an annual rate of 7.2% if each underlier’s closing level is greater than or equal to 75% of its initial level on the observation date for that month.
From July 2018 to June 2020, GS Finance may call the notes on any coupon payment date.
The payout at maturity will be par unless either underlier’s return is less than negative 25%, in which case investors will lose 1.3333% for every 1% that the lesser-performing underlier declines beyond 25%.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 40054LLH5.
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