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GS Finance eyes callable contingent coupon notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., Feb. 22 – GS Finance Corp. plans to price callable contingent coupon notes due March 13, 2024 linked to the S&P 500 index and the Russell 2000 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 semiannual coupon if each index closes at or above its barrier level, 55% of its initial level, on the observation date for that period. The contingent coupon rate will be 5.2% to 5.7% per year.
The notes will be callable at par on any interest payment date starting in September 2019.
The payout at maturity will be par unless the return of either index is less than 55% of its initial level, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price March 22.
The Cusip number is 40056EXR4.
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