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GS Finance plans callable contingent coupon notes tied to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Dec. 13 – GS Finance Corp. plans to price callable contingent coupon notes due Dec. 30, 2024 linked to lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at the rate of 14.5% per year if each index closes at or above its barrier level, 80% of its initial level, on the observation date for that semiannual period.
The notes will be callable at par on any interest payment date.
The payout at maturity will be par unless the return of either index is less than negative 20%, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price Dec. 20.
The Cusip number is 40056XTC0.
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