By William Gullotti
Buffalo, N.Y., March 25 – GS Finance Corp. priced $14.8 million of 0% dual directional trigger PLUS due March 26, 2024 linked to the S&P 500 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 above the initial level, the payout at maturity will be par of $10 plus 200% of the index gain, up to a maximum payout of par plus 22%.
If the index is flat or falls by up to 20%, the payout at maturity will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $14,796,890
|
| Maturity: | March 26, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above initial level, par plus 200% of index gain, subject to a maximum payout of par plus 22%; if index is flat or falls by up to 20%, par plus absolute value of index decline; otherwise, full exposure to index decline from initial level
|
| Initial level: | 4,461.18
|
| Trigger level: | 3,568.944; 80% of initial level
|
| Pricing date: | March 21
|
| Settlement date: | March 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 36264H297
|
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