GS Finance plans contingent coupon autocalls on Russell, Stoxx

By Wendy Van Sickle

Columbus, Ohio, Jan. 17 – GS Finance Corp. plans to price autocallable contingent coupon notes due July 29, 2027 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes pay a contingent coupon at an annual rate of 5.5% if each index closes at or above its trigger level, 80% of its initial level, on the observation date for that month.

Starting in January 2021, the notes will be automatically called at par if each index closes at or above its initial level on any coupon determination date.

The payout at maturity will be par unless either index closes below its buffer level, in which case investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price on Jan. 22.

The Cusip number 40056YC69.

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