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GS Finance to price callable contingent coupon notes on Russell, S&P
By Tali Rackner
Minneapolis, Aug. 23 – GS Finance Corp. plans to price callable contingent coupon notes due Aug. 31, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its barrier level, 55% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date from August 2018 to May 2022.
The payout at maturity will be par plus the final coupon, unless either index finishes below 55% of its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price on Aug. 28 and settle on Aug. 31.
The Cusip number is 40054LN91.
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