GS Finance plans autocallable contingent coupon notes on Russell, Stoxx

By Sarah Lizee

Olympia, Wash., Sept. 23 – GS Finance Corp. plans to price autocallable contingent coupon notes due Jan. 5, 2021 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8.55% per year if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.

From March 2020 to and including September 2020, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par unless any index closes below its barrier level during the life of the notes and the return of any index is negative, in which case investors will be exposed to the decline of the least-performing index from its initial level.

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

Goldman Sachs & Co. LLC is the underwriter.

The notes will price Sept. 25.

The Cusip number is 40056XA22.

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