New Issue: GS Finance prices $1 million equity-linked notes tied to three tech stocks

By William Gullotti

Buffalo, N.Y., Feb. 27 – GS Finance Corp. priced $1 million of 0% equity-linked notes due Feb. 19, 2027 linked to the least performing of the stocks of Amazon.com, Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If all stocks finish at or above their initial value, the payout at maturity will be par plus 200% of the least performing stock’s return.

If the worst performing stock finishes below its initial value but not lower than 84.75% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15.25%.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Equity-linked notes
Underlying stocks:	Amazon.com, Inc., Alphabet Inc., Microsoft Corp.
Amount:	$1 million
Maturity:	Feb. 19, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performer finishes at or above initial value, par plus 200% of the return of worst performer; if worst performer declines but finishes at or above 84.75% of initial value, par; otherwise, 1% loss for every 1% decline of worst performer beyond 15.25%
Initial prices:	$170.98 for Amazon, $147.14 for Alphabet, $409.49 for Microsoft
Buffer levels:	84.75% of initial levels
Pricing date:	Feb. 14
Settlement date:	Feb. 20
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057Y6N8

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