GS Finance plans autocallable contingent coupon notes tied to indexes

By Devika Patel

Knoxville, Tenn., Sept. 30 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due July 9, 2020 linked to the S&P 500 index, the Nasdaq-100 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 10.85% if each index closes at or above its coupon trigger level, 70% of its initial level, on the review date for that quarter.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on Jan. 2, 2020 or April 2, 2020.

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

Goldman Sachs & Co. LLC is the agent.

The notes (Cusip: 40056XGR1) will price on Oct. 2 and settle Oct. 7.

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