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GS Finance plans index-linked trigger notes due 2020 tied to S&P 500
By Sarah Lizee
Olympia, Wash., July 17 – GS Finance Corp. plans to price 0% index-linked trigger notes due Jan. 23, 2020 based on the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Goldman Sachs Group, Inc. will guarantee the notes.
If the final level of the index is equal to or greater than 81.85% of the initial index level, the payout at maturity will be par plus the greater of the return and zero.
If the final level of the index is less than the 81.85% trigger level, the payout will be par plus the index return with full exposure to any losses.
The final index level will be the average of its levels on Jan. 13, 14, 15, 16 and 17 of 2020.
Goldman Sachs & Co. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
The notes are expected to price on July 20 and settle on July 25.
The Cusip number is 40055QN81.
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