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GS Finance to price dual directional trigger notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 22 – GS Finance Corp. plans to price 0% dual directional trigger participation securities due Nov. 4, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a maximum return of 12.3%.
If the final index level is less than or equal to the initial index level but greater than or equal to the trigger level, 90% of the initial index level, the payout will be par plus the absolute value of the index return.
If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
The notes will be guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.
The notes will price July 31.
The Cusip number is 36257W343.
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