GS Finance eyes autocallable contingent coupon notes on three stocks

By Sarah Lizee

Olympia, Wash., Oct. 16 – GS Finance Corp. plans to price autocallable contingent coupon equity-linked notes due Oct. 26, 2022 linked to the common stocks of Apple Inc., Delta Air Lines, Inc. and United Rentals, Inc., 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 coupon at an annual rate of 12.35% if each stock closes at or above 55% of its initial level on the review date for that period.

Beginning in April 2019 and ending in July 2022, the notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date.

The payout at maturity will be par plus the final coupon, if any, unless either stock finishes below 55% of its initial level, in which case investors will lose 1% for each 1% decline of the worse performing stock.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EB80) will price on Oct. 19 and settle on Oct. 26.

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