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GS Finance to price trigger step performance notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – GS Finance Corp. plans to price 0% trigger step performance securities due Feb. 28, 2020 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the step return and the index return. The step return is expected to be 34% to 38% and will be set at pricing.
Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
The notes will price on Feb. 24 and settle on Feb. 29.
The Cusip number is 36250E308.
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