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

Chicago, Dec. 5 – GS Finance Corp. plans to price callable contingent coupon notes due Dec. 27, 2028 linked to the least performing of 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 quarterly coupon at an annual rate of 6.35% for the first 20 coupon dates if both indexes close at or above 60% of their respective initial levels on the coupon payment date for that quarter. The annual rate steps up to 8% for the next 12 coupon dates. For the final eight coupon dates the annual rate is 10%.

Beginning in December 2019 and ending in September 2028, the notes are callable in whole but not in part at par plus any contingent coupon on any coupon payment date.

The payout at maturity will be par plus the final coupon, if any.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056ELL0) will price on Dec. 21 and settle on Dec. 27.

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