GS Finance plans contingent coupon notes tied to Apple, Amazon, Valero

By Angela McDaniels

Tacoma, Wash., June 20 – GS Finance Corp. plans to price autocallable contingent coupon notes due July 6, 2020 linked to the common stocks of Apple Inc., Amazon.com, Inc. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon if each stock closes at or above its barrier price, 60% of its initial price, on the observation date for that month. The contingent coupon rate is expected to be 9.75% to 10.75% per year and will be set at pricing.

The notes will be automatically called at par if each stock closes at or above its initial price on any of three quarterly call determination dates.

The payout at maturity will be par unless the return of any stock is less than negative 40%, in which case investors will be exposed to the decline of the least-performing stock from its initial price.

The notes will be guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price June 28.

The Cusip number is 40056FPV1.

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