By Sarah Lizee
Olympia, Wash., March 13 – GS Finance Corp. LLC priced $2 million of 0% buffered Performance Leveraged Upside Securities due Oct. 7, 2025 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
At maturity, if the final value of each underlying index is greater than 108% of its initial value, investors will receive 17% plus 2.3867% for each 1% that the worst performing index exceeds 108% of its initial index value, capped at $1,886.01 per $1,000 note.
If the final index value of each underlying index is greater than its downside threshold value, 88% of its initial level, but the final index value of any underlying index is less than or equal to 108% of its initial level, investors will receive 0.85% for each 1% that the worst performing index’s final level exceeds its downside threshold level.
If the final level of any index is less than its downside threshold value, investors will lose 1% for every 1% decline of the worst performing index beyond 12%.
Goldman Sachs & Co. LLC is the underwriter, with Morgan Stanley Wealth Management acting as dealer.
| Issuer: | GS Finance Corp. LLC
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying index: | S&P 500, Russell 2000
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| Amount: | $2 million
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| Maturity: | Oct. 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final value of each underlying index is greater than 108% of its initial value, 17% plus 2.3867% for each 1% that the worst performing index exceeds 108% of its initial index value, capped at $1,886.01 per $1,000 note; if the final index value of each underlying index is greater than its downside threshold value, 88% of its initial level but the final index value of any underlying index is less than or equal to 108% of its initial level, 0.85% for each 1% that the worst performing index’s final level exceeds its downside threshold level; if the final level of any index is less than its downside threshold value, 1% loss for every 1% decline of the worst performing index beyond 12%
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| Initial levels: | Arithmetic average of the index closing level of index on each day of initial averaging period from Feb. 28 through May 28
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| Downside thresholds: | 88% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 6
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.35%
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| Cusip: | 40056YQT4
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