GS Finance plans trigger callable contingent yield notes on indexes

By Sarah Lizee

Olympia, Wash., Jan. 15 – GS Finance Corp. plans to price trigger callable contingent yield notes due Oct. 19, 2023 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at a rate of 8.7% per year if each index closes at or above its coupon barrier, 70% of its initial level, on every day during that quarter.

The notes are callable at par of $10 plus any coupon due on any quarterly coupon payment date.

If the notes are not called and each index finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index’s final level is below its initial level.

The notes are guaranteed by Goldman Sachs Group Inc.

Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.

The notes will price on Jan. 16.

The Cusip number is 36259H161.

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