GS Finance plans to price callable contingent coupon notes on indexes

By Tali Rackner

Norfolk, Va., June 15 – GS Finance Corp. plans to price callable contingent coupon notes due June 30, 2026 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 be guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon trigger level, 68.5% of its initial level, on the determination date for that quarter. Otherwise, no coupon will be paid for that period.

The notes are callable at par plus the contingent coupon, if any, on any coupon payment date beginning June 30, 2017.

If each index finishes above its 68.5% trigger level the payout at maturity will be par plus the final coupon.

If either index finishes below 68.5% but each index finishes above 50% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to any losses of the worst performing index.

Goldman Sachs & Co. is the agent.

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

The Cusip number is 40054KDG8.

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