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GS Finance plans callable contingent coupon notes on Russell, S&P
New York, July 31 – GS Finance Corp. plans to price 8.1% to 9.1% callable contingent coupon notes due Aug. 31, 2028 linked to the least performing of the S&P 500 index and the Russell 2000 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 quarterly coupon at an annual rate of 8.1% to 9.1% if each index closes at or above 75% of its initial level on the coupon determination date for that period. The exact coupon will be set at pricing.
Starting in August 2019 and ending in May 2028, GS Finance may call the notes in whole but not in part at par plus any contingent coupon on any coupon payment date.
The payout at maturity will be par plus any final coupon unless any index finishes below 60% of its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Goldman Sachs & Co. is the agent.
The notes will price on Aug. 29 and settle on Aug. 31.
The Cusip number is 40055QQK1.
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