Goldman Sachs to price trigger phoenix autocallables linked to indexes

By Angela McDaniels

Tacoma, Wash., Jan. 16 – Goldman Sachs Group, Inc. plans to price trigger phoenix autocallable optimization securities due Jan. 27, 2025 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the closing levels of both indexes are greater than or equal to 70% of their respective initial levels on a quarterly determination date, the issuer will pay a coupon that quarter at the rate of 7.1% per year.

Beginning in January 2016, the notes will be called at par of $10 plus interest if each index closes at or above its initial level on any quarterly determination date.

If the notes are not called and the return of both indexes is greater than or equal to negative 30%, the payout at maturity will be par plus the final coupon.

If the return of both indexes is greater than or equal to negative 50% but the return of either index is less than negative 30%, the payout will be par.

If the return of either index is less than negative 50%, investors will be fully exposed to the decline of the lesser performing index.

Goldman Sachs & Co. is the underwriter.

The notes are expected to price Jan. 20 and settle Jan. 23.

The Cusip number is 38148L346.

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