By William Gullotti
Buffalo, N.Y., May 9 – GS Finance Corp. priced $15 million of 0% index-linked notes due Sept. 29, 2027 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of the index is greater than or equal to 127% of its initial level, the payout at maturity will be par plus 32.2% plus 2.2711 times the index gain above 27%, subject to a maximum payout of par plus 118.502%.
If the index declines no more than 8% or gains up to 27%, the payout at maturity will be par plus 0.92 times the quantity of the index return plus 8%.
If the index declines more than 8% but no farther than 28%, the payout will be par plus 1.4 times the quantity of the index return plus 8%.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying index: | Dow Jones industrial average
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| Amount: | $15 million
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| Maturity: | Sept. 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the index is greater than 127% of initial level, par plus 32.2% plus 2.2711 times the index gain beyond 27%, subject to a maximum payout of par plus 118.502%; if the index declines no more than 8% or gains up to 27%, par plus 0.92 times the quantity of the index return plus 8%; if the index declines more than 8% but no farther than 28%, par plus 1.4 times the quantity of the index return plus 8%; otherwise, 1% loss for every 1% decline from initial level
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| Initial index level: | Average of closing levels on each day during period from and including April 27 to and including June 28
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| Final level: | Average of closing levels on each day during the period from and including June 28, 2027 to and including Sept. 27, 2027
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| Buffer level: | 92% of initial level
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| Trigger buffer level: | 72% of initial level
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| Pricing date: | April 29
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| Settlement date: | May 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.15%
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| Cusip: | 40057LX71
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