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GS Finance plans trigger callable contingent yield notes on S&P, Russell, Stoxx indexes
New York, June 21 – GS Finance Corp. plans to price 9.5% to 9.9% trigger callable contingent yield notes due Dec. 28, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 9.5% to 9.9% if each index closes at or above its 70% coupon barrier on the observation date for that quarter. The exact coupon will be set at pricing.
Starting Dec. 31, 2018, GS Finance may call the notes at par of $10 on any coupon payment date.
The payout at maturity will be par unless any index finishes below its 60% downside threshold level, in which case investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
The notes will price on June 22 and settle on June 27.
The Cusip number is 36255U190.
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