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GS Finance plans callable contingent coupon notes tied to Russell, S&P
By Tali Rackner
Norfolk, Va., Sept. 8 – GS Finance Corp. plans to price callable contingent coupon notes due Sept. 30, 2019, 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 are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a semiannual contingent coupon at an annual rate of 7% to 8% if each index closes at or above its barrier level, 70% of its initial level, on the observation date for that period.
Beginning March 30, 2017, 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 either index is less than negative 30%, in which case investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price Sept. 23 and settle on Sept. 30.
The Cusip number is 40054KJ49.
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