New Issue: GS Finance sells $780,000 ETF-linked notes tied to ETFs

By Wendy Van Sickle

Columbus, Ohio, Aug. 27 – GS Finance Corp. priced $780,000 of 0% ETF-linked notes due June 24, 2027 linked to the least performing of the SPDR S&P 500 ETF trust, iShares Russell 2000 ETF and SPDR Dow Jones industrial average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the final values of both funds are greater than their initial values, the payout at maturity will be 1.46 times the return of the least performing fund.

If either fund finishes below its initial value but above 70% of its initial level, the payout will be par.

Otherwise, investors will be fully exposed to the losses of the least performing fund.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	ETF-linked notes
Underlying funds:	SPDRR S&P 500 ETF trust, iShares Russell 2000 ETF, SPDR Dow Jones industrial average ETF trust
Amount:	$780,000
Maturity:	June 24, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If both funds finish above initial values, 1.46 times return of least performing fund; if least performing fund finishes above 70%, par, otherwise, full exposure to losses
Initial levels:	$420.86 for SPDRR S&P 500 ETF trust, $226.88 for iShares Russell 2000 ETF, $339.78 for SPDR Dow Jones industrial average ETF trust
Trigger buffer levels:	70% of initial levels
Pricing date:	June 21
Settlement date:	June 24
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057HNZ9

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