Goldman Sachs plans trigger phoenix autocallables linked to BlackRock

By Marisa Wong

Madison, Wis., April 24 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due April 30, 2020 linked to the common stock of BlackRock, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If BlackRock stock closes at or above the barrier price on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 6.5% per year. Otherwise, no coupon will be paid that month. The barrier price is expected to be 70% to 75% of the initial share price and will be set at pricing.

After one year, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a monthly observation date.

If the notes are not called and BlackRock shares finish at or above the 70% to 75% trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.

Goldman Sachs & Co. is the underwriter.

The notes are expected to price April 28 and settle April 30.

The Cusip number is 38148W102.

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