New Issue: GS sells $6.18 million leveraged buffered notes on iShares MSCI EM ETF

By Devika Patel

Knoxville, Tenn., Feb. 22 – GS Finance Corp. priced $6.18 million of 0% leveraged buffered notes with capped upside due Feb. 23, 2018 tied to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the fund return is positive, the payout at maturity will be par plus triple the return, subject to a maximum settlement of $1,313.50 per $1,000 of notes. If the fund falls by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond the buffer.

Goldman Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered notes with capped upside
Underlying ETF:	iShares MSCI Emerging Markets exchange-traded fund
Amount:	$6,184,000
Maturity:	Feb. 23, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index return is positive, par plus triple the gain, capped at $1,313.50; par if fund falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
Initial level:	30.22
Pricing date:	Feb. 19
Settlement date:	Feb. 26
Underwriter:	Goldman Sachs & Co.
Fees:	1.65%
Cusip:	40054K3C8

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