GS Finance to price callable contingent coupon notes on Alibaba ADS

By Devika Patel

Knoxville, Tenn., Sept. 17 – GS Finance Corp. plans to price callable contingent coupon notes due Sept. 24, 2020 linked to the American Depositary Shares of Alibaba Group Holding Ltd., 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 quarterly coupon at an annual rate of 10% if the ADS close at or above 70% of the initial level on the coupon payment date for that quarter.

Beginning on Dec. 20, 2018 and ending on June 20, 2020, the notes are callable in whole but not in part at par plus any contingent coupon on any coupon payment date.

The payout at maturity will be par plus the final coupon, unless the ADS finish below 70% of the initial level, in which case investors will lose 1% for each 1% decline of the ADS from the initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40055QZG0) will price on Sept. 20 and settle on Sept. 25.

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