GS Finance to price contingent coupon notes linked to three stocks

By Angela McDaniels

Tacoma, Wash., Nov. 1 – GS Finance Corp. plans to price autocallable contingent coupon notes due Nov. 12, 2021 linked to the least performing of the common stocks of Automatic Data Processing, Inc., Costco Wholesale Corp. and Vertex Pharmaceuticals Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 15.65% per year if each stock closes at or above its barrier price, 65% of its initial share price, on the observation date for that quarter.

The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly observation date from May 2020 to and including August 2021.

The payout at maturity will be par unless the return of any stock is less than negative 35%, in which case investors will be exposed to the decline of the least-performing stock from its initial share price.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price Nov. 4.

The Cusip number is 40056XNU6.

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