GS Finance to price bearish barrier early redeemable notes tied to S&P

By Angela McDaniels

Tacoma, Wash., May 21 – GS Finance Corp. plans to price 0% bearish barrier early redeemable market-linked notes with daily barrier observation linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The maturity date will be three business days after the determination date, which is expected to fall between Dec. 29, 2020 and Feb. 26, 2021 and will be set at pricing.

If the index closes below the barrier, 75% of the initial index level, on any day during the life of the notes, the notes will be automatically redeemed at par plus 1%.

If the notes are not automatically redeemed and the index return is greater than or equal to zero, the payout at maturity will be par plus 1%.

If the index return is less than zero but greater than or equal to negative 25%, the payout will be par plus the absolute value of the index return.

If the index return is less than negative 25%, the payout will be par plus 1%.

Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as selling agent.

The notes will price May 29.

The Cusip number is 40056FJF3.

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