GS Finance offers 5% contingent coupon autocallables on Russell, S&P

New York, July 23 – GS Finance Corp. plans to price 5% autocallable contingent coupon notes due Feb. 3, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annual rate of 5% if both indexes close at or above their coupon trigger levels, 80% of their initial levels, on the observation date for that quarter.

Starting in July 2019 and ending in October 2025, the notes will be automatically called at par if both indexes close at or above their initial levels on any quarterly observation date.

The payout at maturity will be par plus the final coupon unless either index loses more than 20% in which cases investors will be exposed to the decline of the lesser performing index beyond a 20% loss.

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

Goldman Sachs & Co. LLC is the underwriter.

The notes are expected to price on July 27 and settle on July 31.

The Cusip number is 40055QNG3.

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