GS Finance intends to sell autocallable notes linked to Russell, S&P

By Devika Patel

Knoxville, Tenn., Dec. 10 – GS Finance Corp. plans to price 0% autocallable notes due Dec. 30, 2021 linked to the Russell 2000 index 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.

On Dec. 27, 2019, the notes will be called at par of $1,000 plus a call premium of 10.6% if each index closes at or above its initial level. On Dec. 28, 2020, the notes will be called at par of $1,000 plus a call premium of 21.2% if each index closes at or above 95% of its initial level.

If the notes are not called and the return of each index is greater than 90% of its initial level, the payout at maturity will be par plus the maturity premium of 31.8%.

If the return of each index is less than 90% of its initial level but greater than or equal to the buffer level, 75% of its initial level, the payout will be par.

If the return of either index is less than negative 25%, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

The exact terms will be set at pricing.

Goldman Sachs & Co. is the agent.

The notes (Cusip: 40056EL48) will price on Dec. 24 and settle Dec. 28.

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