Chicago, Dec. 19 – GS Finance Corp. priced $6.05 million of 0% bearish capped buffer GEARS due Aug. 13, 2024 linked inversely 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 declines, investors will gain 3% for every 1% decline of the index, subject to a maximum return of par plus 22.1%.
If the index finishes flat or gains by no more than 5%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain beyond the buffer of the index above 105% of the initial, with losses capped at 95%.
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 index: | S&P 500 index
|
| Amount: | $6,050,000
|
| Maturity: | Aug. 13, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index declines, gain 3% for every 1% decline, capped at par plus 22.1%; par if index finishes flat or gains by up to 5%; otherwise, 1% loss for each 1% gain beyond 5% buffer above threshold level, with losses capped at 95%
|
| Initial level: | 4,604.37
|
| Threshold level: | 105% of initial level
|
| Principal protection: | 5%
|
| Buffer: | 5%
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 13
|
| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 36266M781
|
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