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GS Finance plans contingent coupon autocallables on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 28 – GS Finance Corp. plans to price autocallable contingent coupon notes due June 7, 2023 linked to 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.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter. The contingent coupon rate is expected to be 5.45% per year and will be set at pricing.
Beginning in May 2020, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index finishes below 75% of its initial level.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price May 31.
The Cusip number is 40056FJ55.
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