GS Finance plans autocallable contingent coupon notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Dec. 4 – GS Finance Corp. plans to price autocallable contingent coupon index-linked notes due June 17, 2020 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 are guaranteed by Goldman Sachs Group, Inc.

The notes will pay a contingent quarterly coupon at an annual rate of between 7% and 8% if each index closes at or above 70% of its initial level on the observation date for that quarter. The exact coupon will be set at pricing.

Beginning in June 2019 and ending in March 2020, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly observation date.

The payout at maturity will be par plus the final coupon unless either index finishes below the 70% trigger level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EKP2) will price on Dec. 10.

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