GS Finance eyes 8.6% autocallable fixed-coupon notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Aug. 13 – GS Finance Corp. plans to price 8.6% autocallable fixed-coupon notes due Dec. 7, 2020 linked to the lesser 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 are guaranteed by Goldman Sachs Group, Inc.

Interest is payable quarterly.

The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on March 2, 2020, June 1, 2020 and Aug. 31, 2020.

If the notes are not subject to an automatic call, the payout at maturity will be par unless either index has closed below the 75% trigger level during the life of the notes and either index finishes below its initial level. In that case, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056X3S3) will price on Aug. 30.

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