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GS Finance plans autocallable trigger gears due 2022 linked to S&P
By Sarah Lizee
Olympia, Wash., March 12 – GS Finance Corp. plans to price 0% autocallable trigger gears due March 31, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par of $10 plus 8% per year if the index closes at or above the autocall barrier, 108% of the initial index level, on March 26, 2020 or March 26, 2021.
If the notes are not called and the index return is greater than zero, the payout at maturity will be par plus two times the index return. Investors will receive par if the index declines by up to the downside threshold, 65% to 70% of its initial level, and will otherwise have one-to-one exposure to the index’s decline from its initial level.
Goldman Sachs & Co. is the agent, and UBS Financial Services Inc. is acting as dealer.
The notes will price on March 26.
The Cusip number is 36257D287.
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