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GS Finance plans callable contingent coupon notes on Russell, Stoxx
By Sarah Lizee
Olympia, Wash., Feb. 5 – GS Finance Corp. plans to price callable contingent coupon notes due Feb. 28, 2022 linked to the Euro Stoxx 50 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.
Each quarter, the notes will pay a contingent coupon if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter. The contingent coupon rate will be 7.85% to 8.35% per year.
The notes will be callable at par on any interest payment date starting in August 2019.
The payout at maturity will be par unless the return of either index is less than negative 25%, 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 Feb. 26.
The Cusip number is 40056EVU9.
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