GS Finance eyes autocallable contingent coupon notes tied to oil ETF

By Sarah Lizee

Olympia, Wash., Nov. 13 – GS Finance Corp. plans to price autocallable contingent coupon notes due Dec. 4, 2019 linked to the 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 quarterly coupon at an annual rate of 10% if the ETF closes at or above its coupon barrier level, 62.4% of its initial level, on the observation date for that period.

The notes will be called at par plus the coupon if the ETF closes at or above its initial price on any quarterly observation date.

The payout at maturity will be par plus the final coupon unless the ETF finishes below the 62.4% trigger level, in which case investors will lose 1% for each 1% that the ETF’s final level is less than its initial level.

Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.

The notes (Cusip: 40056EGU6) will price on Nov. 16 and settle Nov. 21.

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