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GS Finance to price callable contingent coupon notes on Russell, S&P
By Devika Patel
Knoxville, Tenn., Dec. 12 – GS Finance Corp. plans to price callable contingent coupon notes due Dec. 30, 2020 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon at an annual rate of 6.65% if both indexes close at or above 60% of their respective initial levels on the coupon payment date for that period.
Beginning on June 30, 2017, the notes are callable in whole but not in part at par plus the contingent coupon on any coupon payment date.
The payout at maturity will be par plus the final coupon unless either index finishes below 60% of its initial level, in which case investors will lose 1% for each 1% loss of the worst performing index.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40054KRQ1) will price on Dec. 23 and settle on Dec. 30.
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