By William Gullotti
Buffalo, N.Y., May 30 – GS Finance Corp. priced $3 million of 0% capped buffer gears due July 25, 2024 linked to the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.5 times the index return, capped at par plus 10.3%.
Investors will receive par if the index declines by 15% or less and lose 1% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. UBS Financial Services Inc. is the selling agent.
Issuer: | GS Finance Corp.
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Issue: | Capped buffer gears
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Guarantor: | Goldman Sachs Group, Inc.
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Underlying index: | S&P 500 Value
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Amount: | $3 million
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Maturity: | July 25, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is greater than zero, par plus 1.5 times the index return, capped at par plus 10.3%; par if the index declines by 15% or less; otherwise, 1% loss for every 1% decline beyond 15%
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Initial index level: | 1,510.38
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Buffer level: | 85% of initial level
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Strike date: | May 19
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Pricing date: | May 22
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Settlement date: | May 25
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Agent: | Goldman Sachs & Co. LLC
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Selling agent: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 36265J631
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