GS Finance plans contingent coupon autocallables tied to S&P, Russell

By Angela McDaniels

Tacoma, Wash., Dec. 16 – GS Finance Corp. plans to price autocallable contingent coupon notes due June 30, 2021 linked to the Russell 2000 index and the S&P 500 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 6.25% per year if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that quarter.

Beginning in June 2020 and ending in March 2021, 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 either index closes below its barrier level during the life of the notes and the return of one or both indexes is negative, in which case investors will lose 1% for every 1% that the lesser-performing index declines 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 Dec. 23.

The Cusip number is 40056XU61.

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