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GS Finance plans 10%-11% contingent coupon autocalls tied to indexes
By Sarah Lizee
Olympia, Wash., Jan. 3 – GS Finance Corp. plans to price autocallable contingent coupon notes due Aug. 4, 2020 linked to the lesser performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% to 11% if each index closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any review date beginning in July 2019 and ending in April 2020.
The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
The notes will price on Jan. 28.
The Cusip number is 40056EQA9.
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