By William Gullotti
Buffalo, N.Y., July 12 – GS Finance Corp. priced $11.29 million of 0% dual directional trigger participation securities due Aug. 3, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index finishes at or above the initial level, the payout at maturity will par plus the return of the index up to a 19.7% cap.
If the index declines no farther than the 80% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Dual directional trigger participation securities
|
| Underlying index: | Euro Stoxx 50 index
|
| Amount: | $11,264,000
|
| Maturity: | Aug. 3, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above the initial level, par plus the return of the index, capped at 19.7%; if the index falls up to the 20% trigger, par plus the absolute value of the return; otherwise, 1% loss for every 1% decline from initial level
|
| Initial level: | 3,454.86
|
| Trigger level: | 2,763.888; 80% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.25%
|
| Cusip: | 36263Q835
|
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