GS Finance to price contingent income callable securities on S&P 500

New York, May 15 – GS Finance Corp. plans to price 6.75% contingent income callable securities due June 5, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 6.75% per year if the index closes at or above its downside threshold level, 75% of its initial level, on the determination date for that quarter.

Starting on Dec. 5, 2018, GS Finance may call the notes at par on any quarterly coupon payment date other than the final one.

If the index finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par plus the final contingent coupon, if any. If the final index level is less than the downside threshold level, investors will be fully exposed to the index’s decline from its initial level.

Goldman Sachs & Co. is the underwriter, with Morgan Stanley Wealth Management handling distribution.

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

The notes are expected to price on May 31 and settle on June 5.

The Cusip is 40055Q7J5.

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