GS Finance eyes callable contingent coupon notes tied to Russell, S&P

By Devika Patel

Knoxville, Tenn., Aug. 21 – GS Finance Corp. plans to price callable contingent coupon notes due Aug. 31, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

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

The notes will pay a contingent semiannual coupon at an annual rate of between 5.1% and 6% if each index closes at or above 55% of their respective initial levels on the coupon payment date for that period. The exact coupon will be set at pricing.

Beginning on Feb. 15, 2019 and ending on Feb. 28, 2023, the notes are callable in whole at par plus the contingent coupon on any coupon payment date.

The payout at maturity will be par plus the final coupon, if any, unless either index finishes below 55% of its initial level, in which case investors will lose 1% for each 1% loss of the worst performing index.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40055QPV8) will price on Aug. 24 and settle on Aug. 31.

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