By William Gullotti
Buffalo, N.Y., May 26 – GS Finance Corp. priced $1.15 million of 0% ETF-linked notes due Nov. 25, 2022 tied to the iShares 20+ Year Treasury Bond ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the ETF return is zero or positive, the payout at maturity will par plus 200% of the return up to a maximum payout of $1,063 per $1,000 principal amount of notes.
If the ETF falls by up to 10%, the payout will be par. Otherwise, investors will be fully exposed to the ETF’s decline from its initial value.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | ETF-linked notes
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| Underlying ETF: | iShares 20+ Year Treasury Bond ETF
|
| Amount: | $1.15 million
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| Maturity: | Nov. 25, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return is flat or positive, par plus 200% of ETF return with a maximum payout of par plus 6.3%; if ETF falls by up to 10%, par; otherwise, full exposure to losses
|
| Initial value: | $118.51
|
| Barrier level: | 90% of initial levels
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 40057M3K3
|
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