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GS Finance plans autocallable index-linked notes on S&P, Dow, Russell
By Sarah Lizee
Olympia, Wash., Nov. 26 – GS Finance Corp. plans to price 0% autocallable index-linked notes due Dec. 18, 2023 tied to the S&P 500 index, the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning Dec. 10, 2019, the notes will be called at par plus a call premium of 9.25% per year if the indexes close at or above their initial index levels on any of the annual call observation dates.
If the notes are not called, the payout at maturity will be par plus 46.25% if each index closes at or above its initial level.
If each index finishes at or above 65% of its initial level, the payout at maturity will be par.
If either index falls by more than 35%, investors will lose 1% for each 1% decline of the worst-performing index from its initial level.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056EHU5) will price Dec. 10.
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