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GS Finance plans autocallable index-linked notes on S&P, Dow, Russell
By Sarah Lizee
Olympia, Wash., July 18 – GS Finance Corp. plans to price 0% autocallable index-linked notes due Aug. 11, 2025 tied to the S&P 500 index, the Dow Jones Industrial Average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Beginning Aug. 3, 2020, the notes will be called at par plus a call premium of 9.6% per year if the indexes close at or above their call levels on any of the annual call observation dates. The call level will be 92% of the initial level for the first three call observation dates, and 98% of the initial level onwards.
If the notes are not called and each index finishes at or above 75% of its initial level, the payout at maturity will be par.
If either index falls by more than 25%, investors will lose 1% for each 1% decline of the worst-performing index from its initial level.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056FV44) will price Aug. 2.
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