By William Gullotti
Buffalo, N.Y., Nov. 28 – GS Finance Corp. priced $3.32 million of 11.75% fixed coupon buffered equity-linked notes due Nov. 24, 2023 linked to the stock performance of Cleveland-Cliffs Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock finishes at or above its initial level, the payout at maturity will be par plus the gain, subject to a maximum return of par plus 13.33%.
Investors will receive par if the stock declines by no more than 20% and will lose 1% for every 1% decline of the stock beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Fixed coupon buffered equity-linked notes
|
| Underlying stock: | Cleveland-Cliffs Inc.
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| Amount: | $3,318,000
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| Maturity: | Nov. 24, 2023
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| Coupon: | 11.75% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If stock finishes flat or positive, par plus the return, capped at 13.33%; if stock declines by no more than 20%, par; otherwise, 1% loss for every 1% decline beyond 20%
|
| Initial level: | $14.75
|
| Strike date: | Nov. 17
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.25%
|
| Cusip: | 40057NZV2
|
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