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

By Devika Patel

Knoxville, Tenn., July 13 – GS Finance Corp. plans to price callable contingent coupon notes due July 31, 2022 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 quarterly coupon at an annual rate of 5% if both indexes close at or above 50% of their respective initial levels on the coupon payment date for that quarter.

Beginning on July 31, 2018 and ending on April 30, 2022, the notes are callable in whole but not in part at par plus any coupon on any quarterly coupon payment date.

The payout at maturity will be par plus the final coupon unless either index finishes below 50% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40054LHR8) will price on July 26 and settle on July 31.

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