GS Finance plans to issue buffer autocallable securities on S&P 500

By Emma Trincal

New York, May 9 – GS Finance Corp. plans to issue 0% buffer autocallable securities due May 13, 2027 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus 13% to 15% if the index closes at or above its initial level on May 9, 2024. The exact call return will be set at pricing.

The payout at maturity will be par plus any index gain.

If the index falls by up to 50% the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond the 50% buffer.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent. UBS Financial Services Inc. is the selling agent.

The notes were expected to price on May 9 and to settle on May 12.

The fee is 2.5%.

The Cusip number is 36263Q249.

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