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GS Finance to price callable contingent coupon notes on three indexes
By Devika Patel
Knoxville, Tenn., Aug. 17 – GS Finance Corp. plans to price callable contingent coupon notes due Aug. 24, 2023 linked to the least performing of the Russell 2000 index, the S&P 500 index and the MSCI EAFE 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 quarterly coupon at an annual rate of 9.05% if each index closes at or above 70% of its respective initial level on the related quarterly coupon determination date.
Beginning on Nov. 24, 2018 and ending on May 24, 2023, the notes are callable in whole but not in part at par plus the contingent coupon on any coupon payment date.
The payout at maturity will be par plus the final coupon, if any, unless any index finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40055QU59) will price on Aug. 21 and settle on Aug. 24.
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