GS Finance to price callable contingent coupon notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Jan. 4 – GS Finance Corp. plans to price callable contingent coupon notes due Jan. 31, 2029 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

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

Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that quarter. The contingent coupon rate will be 6.35% to 7.35% per year.

Beginning in January 2020, the notes will be callable at par on any interest payment date.

The payout at maturity will be par plus the coupon unless the return of either index is less than negative 50%, in which case investors will be fully exposed to the decline of the worse-performing index.

Goldman Sachs & Co. is the underwriter.

The notes will price Jan. 29.

The Cusip number is 40056ERE0.

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