GS Finance to price callable contingent coupon notes on Russell, S&P

By Sarah Lizee

Olympia, Wash., Aug. 3 – GS Finance Corp. plans to price callable contingent coupon notes due Aug. 31, 2033 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 will pay a contingent monthly coupon at an annual rate of 8.1% to 9.1% if both indexes close at or above 75% of their initial levels on the observation date.

The notes are callable in whole at par plus any coupon payment due beginning on the payment date in February 2019 up to the payment date in July 2033.

If each index finishes at or above 75% of its initial level, the payout at maturity will be par plus the final coupon.

If the return of each index is greater than or equal to negative 50% but the return of either index is less than negative 25%, investors will receive par. Otherwise, the payout will be par plus the return of the lesser-performing index with full exposure to losses.

Goldman Sachs & Co. is the underwriter.

The notes (Cusip: 40055QQJ4) will price on Aug. 29 and settle on Aug. 31.

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