GS Finance eyes continent coupon autocalls on silver, oil ETFs

By Sarah Lizee

Olympia, Wash., Feb. 18 – GS Finance Corp. plans to price autocallable continent coupon ETF-linked notes due Nov. 28, 2023 linked to the iShares Silver Trust and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, 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 monthly coupon at an annualized rate of 8.6% if each asset closes at or above its coupon trigger,70% of its initial level, on any monthly observation date.

The notes will be called if each underlier closes at or above its initial level on any observation date after six months.

If the notes are not called and each underlier closes at or above its initial level or neither underlier has ever closed below its trigger, 70% of its initial level, any day during the life of the notes, the payout at maturity will be par plus the final coupon.

Otherwise, investors will lose 1% for every 1% decline of the lesser performing underlier.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price on Feb. 19.

The Cusip number is 40056YHZ0.

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