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GS Finance to price callable contingent coupon notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., April 30 – GS Finance Corp. plans to price callable contingent coupon notes due Nov. 10, 2022 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 semiannual 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 at least 7.4%.
The notes will be callable at par on any coupon payment date after six months.
If the notes are not called, the payout at maturity will be par plus the coupon unless either index falls below its coupon trigger level, in which case investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price May 3.
The Cusip number is 40056FEP6.
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