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Goldman plans contingent interest callable notes tied to S&P, Russell
By Susanna Moon
Chicago, Feb. 22 – GS Finance Corp. plans to price callable contingent interest notes due Feb. 28, 2027 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 be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier, 70% of its initial level, on a review date for that quarter.
The notes are callable at par on any review date from February 2018 to November 2026.
The payout at maturity will be par plus the contingent coupon unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman, Sachs & Co. is the agent.
The notes will price on Feb. 24 and settle on Feb. 28.
The Cusip number is 40054KVL7.
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