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Goldman Sachs plans contingent coupon autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Nov. 19 – Goldman Sachs Group, Inc. plans to price autocallable contingent coupon notes due Nov. 30, 2021 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.8% per year if each index’s closing level is greater than or equal to 75% of its initial level on the determination date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any determination date.
If the notes have not been called and the return of each index is greater than or equal to negative 25%, the payout maturity will be par plus the contingent coupon. If the return of either index is less than negative 25%, investors will be fully exposed to the decline of the lesser-performing index.
Goldman Sachs & Co. is the underwriter.
The notes are expected to price Nov. 20.
The Cusip number is 38148TJJ9.
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