Goldman Sachs plans autocallable contingent coupon notes on AbbVie

By Marisa Wong

Morgantown, W.Va., Oct. 1 – Goldman Sachs Group, Inc. plans to price autocallable contingent coupon equity-linked notes due Oct. 19, 2016 linked to the common stock of AbbVie Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at an annualized rate of 17% if AbbVie stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if AbbVie shares close at or above the initial share price on any quarterly valuation date.

If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price.

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

The notes will price on Oct. 2 and settle on Oct. 7.

The Cusip number is 38148TFT1.

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