Goldman amends buffer for autocallable leveraged notes on S&P Banks

By Marisa Wong

Madison, Wis., March 8 - Goldman Sachs Group, Inc. lowered the buffer on its planned 24-month 0% autocallable leveraged buffered notes linked to the S&P Banks Select Industry index to 10% from 11%, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus a premium of 7.25% to 8.5% if the index closes at or above the initial level on the call observation date, which is expected to be 13 to 15 months after the pricing date.

If the notes are not called, the payout at maturity will be par plus 1.5 times any index gain. Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% that it declines beyond 10%.

Goldman Sachs & Co. is the underwriter.

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