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GS Finance plans bearish autocallable absolute return notes on S&P
By Sarah Lizee
Olympia, Wash., July 10 – GS Finance Corp. plans to price 0% bearish autocallable absolute return notes due Aug. 5, 2024 linked to 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.
If on any day during the life of the notes the closing level of the underlier is less than the related call level, the notes will be automatically called at par plus 5% per year. The call level will be 90% of the initial level for the first year, stepping down by 5% each year.
If the notes are not called and the index return is greater than or equal to zero, the payout will be par.
If the index return is less than zero, the payout will be par plus the absolute value of the index return, capped at par plus 50%.
The underwriter is Goldman Sachs & Co. LLC.
The notes will price on July 26.
The Cusip number is 40056FSL0.
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