GS Finance plans autocallable index-linked notes on S&P, Russell

By Sarah Lizee

Olympia, Wash., Dec. 4 – GS Finance Corp. plans to price 0% autocallable index-linked notes due Dec. 18, 2023 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

Beginning Dec. 10, 2019, the notes will be called at par plus a call premium of 8% to 9% per year if the indexes close at or above their initial index levels on any of the quarterly call observation dates. The exact call premium will be set at pricing.

If the notes are not called, the payout at maturity will be par plus between 40% and 45% if each index closes at or above its initial level, with the exact maturity date premium amount to be set at pricing.

If each index finishes at or above 60% of its initial level, the payout at maturity will be par.

If either index falls by more than 40%, investors will lose 1% for each 1% decline of the worst-performing index from its initial level.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EKR8) will price Dec. 10.

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