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GS Finance eyes autocallable contingent coupon notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., March 4 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due April 5, 2021 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of between 5.25% and 5.75% if each index closes at or above the coupon trigger level, 75% of its initial level, on the review date for that quarter. The coupon rate will be determined at pricing.
Beginning in September, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any coupon observation date.
The payout at maturity will be par unless either index closed below 75% of its initial value, investors will be exposed to the losses of worse performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056EYZ5) will price on March 27.
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