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Goldman plans absolute return trigger notes due 2020 tied to S&P 500
By Susanna Moon
Chicago, Aug. 10 – GS Finance Corp. plans to price 0% absolute return trigger notes due in 24 to 27 months linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index stays within a range during the life of the notes, which mean that a barrier event has occurred, the payout at maturity will be par plus the absolute value of the index return, up to a maximum payment of $1,185 to $1,215 per $1,000 principal amount.
The lower barrier of the index range is expected to be between 81.5% and 78.5% of the initial index level, and the upper limit is expected to be between 118.5% and 121.5% of the initial level.
Otherwise, the payout will be $1,020 per $1,000 principal amount.
The exact maturity, cap and index range will be set at pricing.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
The Cusip number is 40055QRD6.
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