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GS Finance plans callable contingent coupon notes on Russell, Stoxx
By Sarah Lizee
Olympia, Wash., Jan. 3 – GS Finance Corp. plans to price callable contingent coupon index-linked notes due Jan. 31, 2022 linked to the Russell 2000 index and the Euro Stoxx 50 index, 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 at an annualized rate of 9% to 10% if each index closes at or above the coupon trigger level, 70% of its initial level, on the observation date for that quarter.
The notes may be redeemed in whole but not in part at par plus any coupon on any coupon date beginning July 2019 and ending in October 2021.
The payout at maturity will be par unless either index finishes below 70% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056ERM2) will price on Jan. 29 and settle Jan. 31.
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