GS Finance plans trigger absolute return step notes on S&P 500 index

By Tali Rackner

Minneapolis, July 14 – GS Finance Corp. plans to price 0% trigger absolute return step securities due July 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

If the final index level is greater than or equal to the initial level, the payout at maturity will be par of $10 plus the greater of the step return and the index return. The step return is expected to be 32.5% to 36.5% and will be set at pricing.

If the final index level is less than the initial level but greater than or equal to the downside threshold level, 70% of the initial level, the payout will be par plus the absolute value of the index return.

If the final level is less than the downside threshold level, investors will lose 1% for every 1% that the final level is less than the initial level.

Goldman, Sachs & Co. is the agent.

The notes will price on July 26 and settle on July 31.

The Cusip number is 36253M281.

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