GS Finance plans contingent coupon autocallables tied to Stoxx, Russell

By Wendy Van Sickle

Columbus, Ohio, Sept. 24 – GS Finance Corp. plans to price autocallable contingent coupon notes due April 6, 2027 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at the rate of 6.85% per year if each index closes at or above its barrier level, 80% of its initial level, on the observation date for that month.

From September 2020 to and including February 2027, the notes will be automatically called at par if each index closes at or above its initial level on any monthly determination date.

The payout at maturity will be par unless either index falls by more than 20%, in which case investors will lose 1% for each 1% loss of the lesser-performing index beyond 20%.

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

Goldman Sachs & Co. LLC is the underwriter.

The notes will price Sept. 26.

The Cusip number is 40056XDZ6.

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