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Published on 5/16/2019 in the Prospect News Structured Products Daily.

GS Finance plans contingent income autocallables tied to Home Depot

By Sarah Lizee

Olympia, Wash., May 16 – GS Finance Corp. plans to price contingent income autocallable securities due May 27, 2022 linked to the common stock of Home Depot, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9% if the stock closes at or above the 80% downside threshold on the determination date for that quarter.

Beginning Aug. 26, the notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly call date.

The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.

The guarantor is Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

The notes will price on May 24.

The Cusip number is 36257D741.


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