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Goldman plans contingent coupon autocallables tied to two indexes
By Susanna Moon
Chicago, Sept. 15 – GS Finance Corp. plans to price autocallable contingent coupon notes due April 1, 2025 linked to the least 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 monthly coupon at an annual rate of 5% if each index closes at or above its 80% coupon barrier on review date for that month.
The notes will be called at par if each index closes at or above its initial level on any interest payment date beginning in September 2018.
The payout at maturity will be par unless either index falls by more than 20%, in which case investors will be exposed to any losses of the worse performing index beyond the 20% buffer.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. LLC is the agent.
The notes will price on Sept. 25.
The Cusip number is 40054LPY4.
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