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GS Finance plans notes due 2023 linked to biotech ETF, Invesco QQQ
By Sarah Lizee
Olympia, Wash., Sept. 5 – GS Finance Corp. plans to price 0% notes due Sept. 12, 2023 linked to the lesser-performing of the SPDR S&P Biotech ETF and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of the worse performing underlier is positive, the payout at maturity will be par plus 1.18 times the return.
If the return of the worse performing underlier is negative but greater than or equal to negative 30%, the payout at maturity will be par plus the absolute value of the return.
If either underlier falls by more than 30%, investors will lose 1% for every 1% decline of the lesser performing underlier beyond the 30% buffer.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40055QW40) will price on Sept. 7 and settle on Sept. 12.
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