GS Finance eyes autocallable contingent coupon notes tied to indexes

By Devika Patel

Knoxville, Tenn., June 3 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due Oct. 5, 2020 linked to the Euro Stoxx 50 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 at an annual rate of between 7.6% and 8.6% if each index closes at or above the coupon trigger level, 70% of its initial level, on the review date for that quarter.

Beginning on Dec. 28, 2019 and ending on June 28, 2020, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.

The payout at maturity will be par plus any coupon unless either index closes below its 70% trigger level on any trading day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056FKM6) will price on June 28 and settle July 3.

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