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Goldman Sachs plans five-year annual reset coupon notes on S&P 500
By Toni Weeks
San Diego, June 1 - Goldman Sachs Group, Inc. plans to price buffered annual reset coupon notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature in five years.
The coupon will be 7% to 7.5% if the index closes at or above its initial level for each annual observation period. Otherwise, the coupon will be 3%. Interest is payable annually. The exact maximum digital percentage will be set at pricing.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1% for every 1% decline beyond 20%.
The Cusip is 38143UX30.
Goldman Sachs & Co. will be the agent.
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