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GS Finance plans contingent coupon autocallables on three stocks
New York, Aug. 6 – GS Finance Corp. plans to price 9.05% autocallable contingent coupon notes due Aug. 16, 2022 linked to the common stocks of Apple Inc., salesforce.com, Inc. and Chevron Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes pay a contingent quarterly coupon at an annual rate of 9.05% if each stock closes at or above 60% of its initial price on the related quarterly observation date.
The notes will be automatically called at par if each stock closes at or above its initial price on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below 60% of its initial price, in which case the payout will be par plus the return of the least-performing stock with full exposure to losses.
Goldman Sachs & Co. is the underwriter.
The notes will price on Aug. 9 and settle on Aug. 16.
The Cusip number is 40055QSW3.
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