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Goldman plans three-year annual reset coupon notes linked to S&P 500
By Susanna Moon
Chicago, Nov. 3 - Goldman Sachs Group, Inc. plans to price three-year buffered annual reset coupon equity index-linked notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level on any observation date, the notes will pay the maximum coupon of 6% to 7%, with the exact rate to be set at pricing. Otherwise, the coupon will be 2% for that period.
Interest is payable annually.
The payout at maturity will be par unless the index finishes below 80% of the initial index level, in which case investors will lose 1% for every 1% decline below the trigger.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 38143UYV7.
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