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GS Finance to price bearish autocallable absolute return notes on S&P
By Sarah Lizee
Olympia, Wash., Aug. 23 – GS Finance Corp. plans to price 0% bearish autocallable absolute return notes due Sept. 4, 2024 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.
If the closing level of the index is less than its call level on any annual call date, the notes will be automatically called at par plus 5% per year. The call level will be 90% of the initial level on the first call date and step down by 5% on each subsequent call date.
If the notes are not called and the index return is greater than or equal to zero, the payout will be par.
If the index return is less than zero, the payout will be par plus the absolute value of the index return, capped at $1,050 per $1,000 of notes.
The underwriter is Goldman Sachs & Co. LLC.
The notes will price on Aug. 27.
The Cusip number is 40056FZS7.
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