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GS to price contingent coupon callable notes tied to indexes on Nov. 22
By Angela McDaniels
Tacoma, Wash., Nov. 8 – GS Finance Corp. now expects to price its callable contingent coupon notes due Nov. 26, 2021 linked to the Russell 2000 index and the S&P 500 index on Nov. 22, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer announced plans for the offering on Oct. 31, at which time it had not yet selected a pricing date.
The notes will be guaranteed by Goldman Sachs Group, Inc.
As previously reported, the notes will pay a contingent quarterly coupon at an annual rate of 6.25% to 7.35% if each index closes at or above its barrier level, 50% of its initial level, on the observation date for that quarter.
The notes will be callable at par on any determination date after one year.
The payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the worse-performing index.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 40054KNQ5.
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