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GS Finance plans contingent coupon autocallables tied to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 1 – GS Finance Corp. plans to price autocallable contingent coupon notes due Sept. 8, 2026 linked to 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5.5% if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that quarter.
Beginning in August 2017, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the return of either index is less than negative 50%, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
The notes will price Aug. 29.
The Cusip number is 40054KGU4.
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