New Issue: GS Finance prices $1.05 million underlier-linked notes on Russell, MSCI ETF

By Taylor Fox

New York, Aug. 25 – GS Finance Corp. priced $1.05 million of 0% underlier-linked notes due Feb. 13, 2023 linked to the iShares MSCI Emerging Markets exchange-traded fund and the Russell 2000 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 both underliers is zero or positive, the payout at maturity will be par plus three times any gain of the lesser-performing underlier up to $1,435 per $1,000 note.

If one or both underliers fall but both finish above 75% of their respective initial levels, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the lesser performing underlier.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Underlier-linked notes
Underlying assets:	iShares MSCI Emerging Markets ETF and Russell 2000 index
Amount:	$1,052,000
Maturity:	Feb. 13, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus three times return of lesser-performing underlier up to $1,435 per $1,000 note; if both underliers finish at or above initial levels; if lesser-performing underlier falls by up to 25%, par; otherwise, 1% loss for every 1% that lesser-performing underlier declines
Initial levels:	$56.34 for ETF, 2,289.756 for index
Buffer levels:	75% of initial levels
Pricing date:	Feb. 8
Settlement date:	Feb. 11
Agent:	Goldman Sachs & Co. LLC
Fees:	0.975%
Cusip:	40057FEF7

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