Goldman plans trigger phoenix autocallables linked to Russell, S&P 500

By Susanna Moon

Chicago, Dec. 16 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due Dec. 31, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 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 6.5% to 7% if each index 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 index closes at or above its initial level on any quarterly observation date after one year.

If each index finishes at or above its 70% coupon barrier level, the payout at maturity will be par plus the contingent coupon.

If either index finishes below the 70% barrier but each index finishes at or above the trigger level, 50% of the initial level, the payout will be par.

If either index finishes below the 50% trigger level, investors will be exposed to any losses of the worst performing index.

Goldman, Sachs & Co. is the underwriter.

The notes will price on Dec. 29 and settle on Dec. 31.

The Cusip number is 38148K736.

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