GS Finance plans autocallable contingent coupon notes tied to Amazon

By Devika Patel

Knoxville, Tenn., Aug. 31 – GS Finance Corp. plans to price autocallable contingent coupon notes due Sept. 14, 2021 linked to Amazon.com, Inc. common shares, 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 9.4% if the shares close at or above 80% of its initial level on the observation date for that quarter.

The notes will be automatically called at par plus the contingent coupon if the stock closes at or above the initial price on any observation date beginning on March 4, 2019 and ending on June 4, 2021.

The payout at maturity will be par plus the final coupon unless the shares finish below 80% of the initial level, in which case investors will be fully exposed to any declines.

Goldman, Sachs & Co. is the agent.

The notes (Cusip: 40055QWL2) will price on Sept. 4 and settle Sept. 11.

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