What would happen if the left (port) engine fell off of a 737

1. The CG would shift to the right and plane would roll in that direction
2. The plane would enter a left hand turn as the right side would be producing more power.
3. The would I assume be an alarm of some type in the cockpit letting the pilots something had gone somewhat wrong.
4. The passengers would enter a level of distress.
5. I am guess the autopilot would attempt to correct for the roll and bank, which would be possible or disable and let the two people in the front fly the plane.