GS Finance plans step-down trigger autocallable notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., April 27 – GS Finance Corp. plans to price 0% step-down trigger autocallable notes due April 30, 2025 linked to the lesser performing of the S&P 500 index 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.

Starting May 3, 2021, the notes will be automatically called at par of $10 plus a call premium of 9.75% to 10.75% per year if each index closes at or above its initial level on any quarterly observation date.

If the notes are not called and the final level of the worse performing index is greater than or equal to its downside threshold, 70% of its initial level, the payout will be $14.875 to $15.375 per $10 note. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

Goldman Sachs & Co. LLC and UBS Financial Services Inc. are the agents.

The notes will price on April 28.

The Cusip number is 36259J159.

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