Goldman plans autocallable contingent coupon notes linked to Cabot

By Angela McDaniels

Tacoma, Wash., April 9 - Goldman Sachs Group, Inc. plans to price autocallable contingent coupon notes due April 29, 2015 linked to the common stock of Cabot Oil & Gas Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 11.7% per year if Cabot shares close at or above the trigger level, 80% of the initial share price, on the observation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on July 31, 2014, Oct. 30, 2014 or Jan. 29, 2015.

If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the stock's decline from its initial price.

The final share price will be the average of the closing prices of the stock on the five trading days ending April 24, 2015.

Goldman Sachs & Co. is the underwriter with J.P. Morgan Securities LLC as placement agent.

The notes are expected to price April 11 and settle April 16.

The Cusip number is 38147Q3M6.

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