Goldman plans callable contingent coupon notes on Russell, S&P 500

By Tali Rackner

Norfolk, Va., Sept. 8 – Goldman Sachs Group, Inc. plans to price callable contingent coupon index-linked notes due Oct. 15, 2030 linked to 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 1.8% if each index closes at or above its barrier level, 60% of its initial level, on the determination date for that quarter.

The notes are callable at par on any coupon payment date beginning in January 2021.

The payout at maturity will be par plus the contingent coupon unless either index finishes below the 60% trigger level, in which case investors will be fully exposed to any losses of the lesser performing index.

Goldman Sachs & Co. is the underwriter.

The notes will price on Sept. 28 and settle on Sept. 30.

The Cusip number is 38148TED7.

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