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GS Finance plans callable contingent coupon notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, July 8 – GS Finance Corp. plans to price callable contingent coupon notes due July 31, 2019 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each index closes at or above its barrier level, 60% of its initial level, on the observation date for that quarter.
The notes will be callable at par plus the coupon, if any, on any interest payment date.
The payout at maturity will be par plus the final coupon unless the return of any index is less than negative 40%, in which case investors will be fully exposed to the decline of the worst-performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price on July 26.
The Cusip number is 40054KFZ4.
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