Goldman plans contingent coupon callable notes tied to S&P, Russell

By Susanna Moon

Chicago, July 12 – GS Finance Corp. plans to price callable contingent coupon notes due July 31, 2027 linked to the least 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 pay a contingent quarterly coupon at an annual rate if each index closes at or above its 70% coupon barrier on the review date for that quarter. The contingent coupon will be 7% for the first 20 payment dates, stepping up to 10% for the next 12 dates and to 12% for the final eight dates.

The notes are callable at par plus the contingent coupon on any review date after one year.

The payout at maturity will be par plus the contingent coupon unless either index finishes below its 50% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

The notes will price on July 27.

The Cusip number is 40054LHS6.

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