New Issue: GS Finance sells $955,000 buffered notes linked to iShares MSCI EM

By Marisa Wong

Morgantown, W.Va., July 19 – GS Finance Corp. priced $955,000 of 0% buffered notes due Jan. 3, 2022 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 the gain, subject to a maximum payment of $1,850 per $1,000 principal amount. Investors will receive par if the fund falls by up to 30% and lose 1% for every 1% decline in the fund beyond 30%.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered notes
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$955,000
Maturity:	Jan. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any fund gain, subject to maximum payment of $1,850 per $1,000 principal amount; par if fund falls by up to 30%; 1% loss for every 1% decline in fund beyond 30%
Initial price:	$41.20
Pricing date:	June 29
Settlement date:	July 5
Underwriter:	Goldman, Sachs & Co.
Fees:	0.8%
Cusip:	40054LGT5

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