GS Finance plans bearish barrier early redeemable notes linked to S&P

By Sarah Lizee

Olympia, Wash., July 9 – GS Finance Corp. plans to price 0% bearish barrier early redeemable market-linked notes due between April 28, 2021 and June 28, 2021 with daily barrier observation linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index closes below the barrier, 80% of the initial index level, on any day during the life of the notes, the notes will be automatically redeemed at par plus 1%. The exact barrier will be set at pricing.

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 the final index level is greater than or equal to the barrier, the payout will be par plus the absolute value of the index return.

If the final index level is less than the barrier, 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 July 29.

The Cusip number is 40056FTL9.

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