Goldman plans callable contingent coupon notes linked to S&P, Russell

New York, July 7 – Goldman Sachs Group, Inc. plans to price auto-callable contingent coupon notes due Aug. 12, 2025 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 an annualized rate of 6% if each underlying index closes at or above 50% of its initial level on the review date for that quarter.

The notes will be called at par plus the coupon if both indexes close at or above their initial levels on the review date.

If each index finishes at or above 50% of its initial level, the payout at maturity will be par plus the contingent coupon, if any. Otherwise, investors will be fully exposed to the decline of the worst-performing index.

The estimated initial value of the notes is between $910 and $970 per $1,000 principal amount.

Goldman Sachs & Co. is the underwriter.

The notes are expected to price on July 29 and settle on July 31.

The Cusip number is 38148T7E3.

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