New Issue: GS Finance sells $3.9 million capped airbag gears tied to MSCI EM

By William Gullotti

Buffalo, N.Y., Aug. 12 – GS Finance Corp. priced $3.9 million of 0% capped airbag gears due May 18, 2023 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum settlement amount of par plus 26.8%. Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% index decline beyond 10%.

Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Capped airbag gears
Underlying index:	MSCI Emerging Markets
Amount:	$3,897,000
Maturity:	May 18, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.5 times any index gain, capped at par plus 26.8%; par if the index falls by up to 10%; 1.1111% loss for each 1% index decline beyond 10%
Initial level:	1,307.53
Buffer level:	90% of initial level
Pricing date:	May 14
Settlement date:	May 20
Underwriter:	Goldman Sachs & Co. LLC
Selling agent:	UBS Financial Services Inc.
Fees:	0%
Cusip:	36260W868

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