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GS Finance plans autocallable contingent coupon notes tied to indexes
By Devika Patel
Knoxville, Tenn., Jan. 18 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due Jan. 27, 2022 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate expected to fall between 6.75% and 7.25% if each index closes at or above 70% of its initial level on the review date for that quarter. The exact coupon will be set at pricing.
Beginning on July 23, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon if any unless either index finishes below its 70% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40055AFC6) will price on Jan. 23 and settle Jan. 26.
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