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GS Finance plans capped buffer gears linked to S&P
By Sarah Lizee
Olympia, Wash., Nov. 22 – GS Finance Corp. plans to price 0% capped buffer gears due Nov. 30, 2021 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.
If the index return is positive, the payout at maturity will be par plus double the index gain, subject to a maximum settlement amount that is expected to be between $11.425 and $11.625 for each $10 face amount.
If the index finishes at or below the initial level but at or above the downside threshold, 90% of the initial level, the payout will be par.
Otherwise, investors will be exposed to losses beyond 10%.
Goldman Sachs & Co. LLC is the agent with UBS Financial Services Inc. as selling agent.
The notes will price on Nov. 25.
The Cusip number is 36258L791.
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