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GS Finance aims to sell autocallable notes tied to Russell, Dow, S&P
By Devika Patel
Knoxville, Tenn., June 14 – GS Finance Corp. plans to price 0% autocallable notes due June 26, 2025 linked to the Russell 2000 index, the Dow Jones Industrial Average and 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.
Beginning June 22, 2020, the notes will be called at par plus a 6.5% annual call premium if each index closes at or above its initial level on an annual call observation date.
If the notes are not called and the return of the worst performing index is greater than or equal to the buffer, 70% of its initial level, the payout will be par.
If the return of the worst performing index is less than negative 30%, investors will lose 1.4286% for each 1% decline of the lesser-performing index beyond 30%.
Goldman Sachs & Co. is the agent.
The notes (Cusip: 40056FPC3) will price on June 24 and settle June 27.
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