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GS Finance eyes callable contingent coupon notes on Russell, S&P
Chicago, Feb. 25 – GS Finance Corp. plans to price callable contingent coupon notes due Feb. 28, 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.
The notes will pay a contingent quarterly coupon if each index closes at or above its coupon trigger level, 70% of its initial level, on the observation date for that period. The contingent coupon rate will be an annual rate of 6.05% for the first five years, 9% for the next three years and 10% for the final two years.
The notes will be callable at par on any coupon payment date starting after the first year.
The payout at maturity will be par unless the return of either index is less than 50% of its initial level, 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 and settle Feb. 28.
The Cusip number is 40056EVY1.
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