Goldman plans callable contingent coupon notes tied to S&P, Russell

By Susanna Moon

Chicago, Jan. 11 – GS Finance Corp. plans to price callable contingent coupon notes due Jan. 27, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent semiannual coupon at an annual rate of 6.85% if each index closes above its 60% coupon barrier on the observation date for that period.

The notes are callable at par on any review date from July 27, 2017 to July 27, 2020.

The payout at maturity will be par plus the contingent coupon unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to the losses of the worse performing index.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Goldman, Sachs & Co. is the underwriter.

The notes will price on Jan. 20 and settle on Jan. 27.

The Cusip number is 40054KUA2.

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