Goldman plans 7.25% 10-year contingent income callables on S&P 500

By Susanna Moon

Chicago, Aug. 6 – GS Finance Corp. plans to price contingent income callable securities due Sept. 6, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 7.25% if the index closes at or above its 75% coupon threshold on the quarterly determination date.

The notes are callable at par on any interest payment date from March 5, 2019 through June 5, 2028.

The payout at maturity will be par plus the coupon unless the index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

The notes will price on Aug. 31.

The Cusip number is 40055QQX3.

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