By William Gullotti
Buffalo, N.Y., May 20 – GS Finance Corp. priced $3 million of 0% index-linked notes due May 21, 2024 linked to the least performing of the S&P 500 index and the Dow Jones U.S. Select Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus the return of the least performing index, subject to a maximum payout of par plus 24.25%.
If the least performing index falls by up to 20%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond 20%.
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 indexes: | S&P 500 index, Dow Jones U.S. Select Dividend index
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| Amount: | $3 million
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| Maturity: | May 21, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus the return of the least performing index capped at 24.25%; if any index falls but the final underlier level of each is greater than or equal to the 80% trigger buffer level, par plus the absolute return of the worst performer; otherwise, 1% loss for every 1% drop of the worst performer below 20%
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| Initial levels: | 4,008.01 for S&P, 895.72 for Dow Select
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 40057M2M0
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