GS Finance to price contingent income callable notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Oct. 28 – GS Finance Corp. plans to price contingent income callable securities due Nov. 19, 2026 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Each quarter, the notes will pay a contingent coupon at an annual rate of 7.9% if the index closes at or above the coupon threshold level, 75% of the initial index level, on the observation date for that quarter.

Beginning Nov. 21, 2017, the notes will be callable at par on any coupon payment date.

The payout at maturity will be par unless the index finishes below its downside threshold level, 60% of its initial level, in which case investors will have one-to-one exposure to the index’s decline from its initial level.

Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.

The notes will price Nov. 16.

The Cusip number is 40054KMZ6.

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