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GS Finance plans callable contingent coupon notes on S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, June 9 – GS Finance Corp. plans to price callable contingent coupon notes due June 30, 2021 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each index closes at or above its coupon trigger level, 60% of its initial level, on the determination date for that quarter.
After one year, the notes are callable at par plus the contingent coupon, if any.
The payout at maturity will be par plus the final contingent coupon, if applicable, unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse performing index.
Goldman Sachs & Co. is the agent.
The notes will price on June 28 and settle on June 30.
The Cusip number is 40054KDH6.
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