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Goldman plans contingent coupon callable notes linked to two funds
By Susanna Moon
Chicago, June 15 – GS Finance Corp. plans to price callable contingent coupon notes due June 30, 2019 linked to the least performing of the SPDR S&P Biotech exchange-traded fund and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.5% to 11.5% if each fund closes at or above its 65% coupon barrier on the review date for that quarter.
The notes are callable at par plus the contingent coupon on any review date from December 2017 through March 2019.
The payout at maturity will be par unless either fund finishes below its 65% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing fund.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
The notes will price on June 27.
The Cusip number is 40054LF74.
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