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GS Finance plans bearish autocallable absolute return notes on S&P
By Sarah Lizee
Olympia, Wash., May 18 – GS Finance Corp. plans to price 0% bearish autocallable absolute return notes due in 13 to 15 months 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 85% to 87.25% 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 12.75% to 15%, the payout will be par plus the absolute value of the index return. If the index declines by more than 12.75% to 15%, investors will receive par.
The underwriter is Goldman Sachs & Co. LLC.
The Cusip number is 40057C2Z3.
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