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GS Finance plans to price contingent coupon autocalls on Valero
By Sarah Lizee
Olympia, Wash., Aug. 1 – GS Finance Corp. plans to price autocallable contingent coupon notes due Nov. 17, 2020 linked to the common stock of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.5% if the stock closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par if the stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless the stock finishes below its 75% trigger level, in which case investors will be fully exposed to any losses of the stock.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
The notes will price on Aug. 7.
The Cusip number is 40056FYF6.
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