GS Finance to price autocallable contingent coupon notes on index, ETFs

By Sarah Lizee

Olympia, Wash., Jan. 21 – GS Finance Corp. plans to price autocallable contingent coupon underlier-linked notes due Oct. 30, 2023 linked to the worst performing of the Dow Jones industrial average, the SPDR S&P Biotech ETF and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

Each month, the notes pay a contingent coupon at an annual rate of 7.2% if all underlyings close at or above their coupon barriers, 70% of their initial levels, on the valuation date for that month.

Beginning in July, the notes will automatically be called at par plus the coupon if all underlyings close at or above their initial levels on any monthly observation date.

If the notes are not called and all three underlyings finish at or above their 70% barrier levels, investors will receive par plus the final coupon.

Otherwise, investors will be exposed to the losses of the worst performing underlying.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price on Jan. 22.

The Cusip number is 40056YCJ1.

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