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GS Finance plans 0% leveraged buffered notes due 2020 tied to S&P 500
By Devika Patel
Knoxville, Tenn., Jan. 13 – GS Finance Corp. plans to price 0% leveraged buffered notes due Feb. 3, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $1,000 plus 1.1 times the index return. If the index declines by up to the buffer amount, which is expected to be between 32.25% and 37.75% and will be set at pricing, the payout at maturity will be par. Otherwise, investors will lose between about 1.476% and about 1.6064% for every 1% decline beyond the buffer. The exact downside participation rate will be set at pricing.
Goldman Sachs & Co. is the agent.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes (Cusip: 40054CBE3) will price on Jan. 29 and settle on Feb. 3.
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