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Goldman plans five-year trigger gears with leverage tied to S&P 500
By Susanna Moon
Chicago, June 26 – GS Finance Corp. plans to price 0% trigger gears due June 30, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.14 times to 1.24 times any index gain, with the exact leverage to be set at pricing.
Investors will receive par if the index falls by up to 40% and will be fully exposed to any losses if the index finishes below its 60% downside threshold.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman, Sachs & Co. is the underwriter.
The notes will price on June 27.
The Cusip number is 36251V804.
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