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GS Finance plans to price autocallable notes linked to biotech ETF
By Sarah Lizee
Olympia, Wash., May 31 – GS Finance Corp. plans to price 0% autocallable notes due June 14, 2022 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized call premium of 11.5% if the ETF closes at or above its initial level on any annual review date.
The payout at maturity will be par plus 34.5% if the ETF finishes at or above its initial level. If the ETF declines by up to 30%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price on June 7.
The Cusip number is 40056FJZ9.
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