Goldman plans trigger phoenix autocallable notes tied to two indexes

By Jennifer Chiou

New York, July 24 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due July 31, 2024 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.6% to 7.1% if each component closes at or above its coupon barrier, 70% of its initial level, on an observation date for that quarter.

The notes will be called at par of $10 plus the contingent coupon if each component closes at or above its initial level on any quarterly observation date after one year.

If the notes are not called and each index finishes at or above its coupon barrier level, the payout at maturity will be par plus the contingent coupon.

If either index finishes below its coupon barrier level but each index finishes at or above its trigger level, 50% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worse-performing index.

The notes (Cusip: 38148C619) are expected to price on July 29 and settle on July 31.

Goldman, Sachs & Co. is the underwriter.

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