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GS Finance plans autocallable trigger gears due 2022 tied to EM ETF
By Sarah Lizee
Olympia, Wash., March 13 – GS Finance Corp. plans to price 0% autocallable trigger gears due March 31, 2022 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par of $10 plus 10% per year if the ETF closes at or above the autocall barrier, 100% of the initial level, on March 26, 2020 or March 26, 2021.
If the notes are not called and the ETF return is greater than zero, the payout at maturity will be par plus 2.5 times the ETF return. Investors will receive par if the ETF declines by up to the downside threshold, 70% to 75% of its initial level, and will otherwise have one-to-one exposure to the ETF’s decline from its initial level.
Goldman Sachs & Co. is the agent, and UBS Financial Services Inc. is acting as dealer.
The notes will price on March 26.
The Cusip number is 36257D378.
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