GS Finance plans contingent coupon autocallables tied to Adobe, Oracle

By Angela McDaniels

Tacoma, Wash., Aug. 6 – GS Finance Corp. plans to price autocallable contingent coupon notes due Aug. 23, 2022 linked to the common stocks of Adobe Inc. and Oracle Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each stock closes at or above its barrier price, 60% of its initial share price, on the observation date for that quarter. The contingent coupon rate is expected to be 9.2% to 10.2% per year and will be set at pricing.

Beginning in February 2020, the notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly determination date.

The payout at maturity will be par unless the return of either stock is less than negative 40%, in which case investors will be exposed to the decline of the lesser-performing stock from its initial price.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price Aug. 16.

The Cusip number is 40056FZZ1.

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