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GS Finance eyes trigger callable contingent yield notes on indexes
By Sarah Lizee
Olympia, Wash., June 25 – GS Finance Corp. plans to price trigger callable contingent yield notes due Dec. 30, 2022 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at the rate of 9% to 9.25% per year if each index’s closing level remains at or above its coupon barriers, 70% of its initial level, on each day during that quarter.
The notes are redeemable at par of $10 on any coupon payment date starting Sept. 30.
If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.
Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as selling agent.
The notes will price June 26.
The Cusip number is 36257W145.
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