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

By Devika Patel

Knoxville, Tenn., June 18 – GS Finance Corp. plans to price callable contingent coupon notes due July 31, 2021 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 monthly coupon at an annual rate of 5.2% if both indexes close at or above 60% of their respective initial levels on the coupon payment date for that month.

Beginning in June 2019 and ending in May 2023, the notes are callable in whole but not in part at par plus any coupon on any monthly coupon payment date.

The payout at maturity will be par plus the final coupon unless either index finishes below 60% 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: 40055QG71) will price on June 25 and settle on June 28.

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