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GS Finance to price contingent income callable notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 7 – GS Finance Corp. plans to price contingent income callable securities due Oct. 26, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6% if each index closes at or above its downside threshold level, 50% of its initial index level, on each day during that quarter.
Beginning April 26, 2017, the notes will be callable at par on any quarterly determination date other than the final one.
If each index finishes at or above its downside threshold level, the payout at maturity will be par. If the final level of any index is less than its downside threshold level, investors will have one-to-one exposure to the decline of the least-performing index.
Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
The notes will price Oct. 21.
The Cusip number is 40054KMB9.
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