Goldman plans six-month contingent coupon autocallables on WTI crude

By Susanna Moon

Chicago, March 10 – GS Finance Corp. plans to price six-month autocallable contingent coupon notes linked to the West Texas Intermediate light sweet crude oil futures contract, 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 payment at an annualized rate of 8% to 9% if the price of WTI crude oil closes at or above the 80% threshold level on the observation date for that quarter. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if crude closes at or above the initial price in June.

The payout at maturity will be par plus the final coupon unless the price of crude finishes below the 80% threshold level, in which case investors will be exposed to any losses.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 40054K6C5.

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