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GS Finance plans to price autocallable buffered notes on S&P 500
By Emma Trincal
New York, Aug. 17 – GS Finance Corp. plans to price 0% autocallable buffered index-linked notes linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The tenor of the notes is expected to be between 23 and 27 months. The exact tenor will be set at pricing.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a call premium of 4.64% to 5.46% if the index closes at or above its initial level on a call observation date expected to be approximately 12 months after the trade date. The exact call premium and call observation date will be set at pricing.
If the notes are not called and the index return is positive, the payout at maturity will be par plus the index return. Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% loss beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
The Cusip number is 40057J5V4.
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