Goldman plans contingent income autocallables linked to Facebook

By Susanna Moon

Chicago, Oct. 21 – GS Finance Corp. plans to price contingent income autocallable securities due Oct. 31, 2019 linked to the class A common stock of Facebook, Inc., according to an FWP 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 annual rate of 9.5% if the shares close at or above the 80% downside threshold level on the observation date for that quarter.

The notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial price on any of the first 11 determination dates.

The payout at maturity will be par unless the shares finish below the 80% downside threshold, in which case investors will be fully exposed to any losses.

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

The notes will price on Oct. 28.

The Cusip number is 36251U111.

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