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GS Finance plans bearish autocallable notes linked to S&P 500 index
By Sarah Lizee
Olympia, Wash., May 7 – GS Finance Corp. plans to price 0% bearish autocallable notes due May 19, 2021 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.
Starting in November, the notes will be automatically called at par plus an annual premium of 4% on any semiannual date if the closing level of the index is at or below its starting level on any observation date.
At maturity, if the final index level is less than or equal to the trigger level, 115% of the index's starting level, the payout will be par plus 16%. If the final index level is greater than the trigger level, the payout will be par minus the index return.
The underwriter is Goldman Sachs & Co. LLC. JPMorgan is the placement agent.
The notes are expected to price on May 10.
The Cusip number is 40056FGX7.
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