By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – GS Finance Corp. priced $11.23 million of 0% bearish capped buffer GEARS due Nov. 21, 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 2% for every 1% decline of the index, subject to a maximum return of par plus 27%.
If the index finishes flat or gains by no more than 8%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain above the 108% threshold level, with losses capped at 92%.
Goldman Sachs & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish capped buffer GEARS
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| Underlying index: | S&P 500 index
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| Amount: | $11,234,000
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| Maturity: | Nov. 21, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index declines, gain 2% for every 1% decline, capped at par plus 27%; par if index finishes flat or gains by up to 8%; otherwise, 1% loss for each 1% gain above 8%, with losses capped at 92%
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| Initial level: | 4,765.98
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| Threshold level: | 108% of initial level
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| Principal protection: | 8%
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| Buffer: | 8%
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 19
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| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 36266M831
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