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Goldman plans contingent coupon autocallables linked to S&P, Russell
By Susanna Moon
Chicago, Oct. 7 – GS Finance Corp. plans to price autocallable contingent coupon notes due Feb. 1, 2018 linked to the S&P 500 index and the Russell 2000 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 contingent quarterly coupon at an annual rate of 6.5% to 7.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes are callable at par on any coupon payment date from April 2017 until July 2018.
The payout at maturity will be par plus the final coupon unless either index falls and either index ever closes below the 70% trigger level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price on Oct. 27 and settle on Nov. 1.
The Cusip number is 40054KM94.
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