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

By Sarah Lizee

Olympia, Wash., March 20 – GS Finance Corp. plans to price 0% bearish barrier early redeemable market-linked notes with daily barrier observation due March 26, 2020 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.

A barrier event will occur if the index’s closing level is less than 85% 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 0.5%.

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 0.5%. If the final index level is less than the initial index level by up to 15%, 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 15%, the payout will be par plus 0.5%.

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

The notes will price March 21.

The Cusip number is 40056F4J1.

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