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Goldman plans five-year absolute return trigger notes tied to S&P 500
By Susanna Moon
Chicago, Oct. 23 – GS Finance Corp. plans to price 0% trigger absolute return step securities due Oct. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the step return, which is expected to be between 25% and 29%.
If the index falls by up to its 75% downside threshold, the payout will be the absolute value of the index return.
Otherwise, the payout will be par plus the return with full exposure to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
The notes will price on Oct. 26.
The Cusip number is 36256M239.
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