GS Finance plans contingent coupon autocalls on S&P, Russell

By Sarah Lizee

Olympia, Wash., April 25 – GS Finance Corp. plans to price autocallable contingent coupon notes due Nov. 23, 2020 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 are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon of 5.75% to 6.75% per annum if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date beginning in November 2019 and ending in August 2020.

If each index finishes at or above its initial level or if neither index has closed below the 70% trigger level, the payout will be par plus the final contingent coupon.

Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index.

Goldman Sachs & Co. LLC is the agent.

The notes will price on May 14.

The Cusip number is 40056FCX1.

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