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Goldman Sachs plans contingent income autocallables linked to Apple
By Susanna Moon
Chicago, Aug. 28 – GS Finance Corp. plans to price contingent income autocallable securities due Sept. 4, 2020 linked to Apple Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.25% if the stock closes at or above the 80% downside threshold on a determination date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any of the first 11 determination dates.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below the 80% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
The notes will price on Sept. 1 and settle on Sept. 7.
The Cusip number is 36253M638.
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