Chicago, Nov. 3 – GS Finance Corp. priced $6.25 million of 0% bearish capped buffer GEARS due Nov. 1, 2024 linked to the SPDR S&P Homebuilders ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the ETF declines, investors will gain 3% for every 1% decline of the ETF, subject to a maximum return of par plus 32.65%.
If the ETF finishes flat or gains by no more than 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain of the ETF beyond a 10% buffer, subject to a minimum return of 10%.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Bearish capped buffer GEARS
|
| Underlying ETF: | SPDR S&P Homebuilders ETF
|
| Amount: | $6,252,500
|
| Maturity: | Nov. 1, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF declines, gain 3% for every 1% decline, capped at par plus 32.65%; par if ETF finishes flat or gains by up to 10%; otherwise, 1% loss for each 1% gain above threshold level beyond 10% buffer, with losses capped at 90%
|
| Initial level: | $69.78
|
| Downside threshold level: | 110% of initial level
|
| Buffer: | 10%
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 31
|
| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 36266M492
|
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