GS Finance plans autocallable contingent coupon notes on two stocks

By Sarah Lizee

Olympia, Wash., Feb. 6 – GS Finance Corp. plans to price autocallable contingent coupon equity-linked notes due March 1, 2022 linked to the common stocks of Walt Disney Co. and CBS Corp., 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 if each stock closes at or above 70% of its initial price on the review date for that quarter.

The contingent coupon rate will be the product of 22.5 times the number of review dates that have occurred up to and including the relevant review date minus the sum of all coupons previously paid, if any.

Beginning in May 2019 and ending in November 2021, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial price on any quarterly review date.

The payout at maturity will be par plus the final coupon unless either stock finishes below 70% of its initial price, in which case investors will lose 1% for each 1% decline of the worse performing stock from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EU71) will price on Feb. 22.

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