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GS Finance plans bearish autocallable absolute return notes on S&P
By Sarah Lizee
Olympia, Wash., Sept. 5 – GS Finance Corp. plans to price 0% bearish autocallable absolute return notes due March 10, 2022 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 on any day during the life of the notes the index closes at less than 69.85% of the initial level, the notes will be automatically called at par.
If the notes are not called and the index closes at or above its initial level, the payout will be par.
If the notes are not called and the index falls by no more than 30.15%, the payout will be par plus the absolute value of the index return. If the index declines by more than 30.15%, investors will receive par.
The underwriter is Goldman Sachs & Co. LLC. JPMorgan is the placement agent.
The notes will price on Sept. 6.
The Cusip number is 40056XCQ7.
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