GS Finance eyes bearish barrier early redeemable notes on S&P 500

By Sarah Lizee

Olympia, Wash., March 12 – GS Finance Corp. plans to price 0% bearish barrier early redeemable market-linked notes with daily barrier observation linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The maturity date is expected to fall between Sept. 10, 2020 and Nov. 10, 2020 and will be set at pricing.

A barrier event will occur if the index’s closing level is less than 75% of the initial index level on any trading day during the life of the notes.

If a barrier event occurs, the notes will be redeemed and holders will receive par plus 1%.

If a barrier event has not occurred and the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 1%. If the final index level is less than the initial index level by up to 25%, the payout will be par plus the absolute value of the index return.

If the final index level is less than the initial level by more than 25%, the payout will be par plus 1%.

UBS Financial Services Inc. and Goldman Sachs & Co. are the agents.

The notes will price March 27.

The Cusip number is 40056F3J2.

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