New Issue: GS Finance sells $3.56 million capped trigger gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Oct. 4 – GS Finance Corp. priced $3.56 million of 0% capped trigger gears due Sept. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

If the index return is greater than zero, the payout at maturity will be par of $10.00 plus two times the index return, subject to a maximum settlement amount of $12.57 per note. Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Capped trigger gears
Underlying index:	S&P 500
Amount:	$3,560,250
Maturity:	Sept. 30, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the index return is greater than zero, par plus two times the index return, subject to a maximum settlement amount of $12.57 per note; par if the index declines by 25% or less; full exposure to the index’s decline from its initial level if it declines by more than 25%
Initial index level:	2,496.84
Pricing date:	Sept. 26
Settlement date:	Sept. 29
Underwriter:	Goldman, Sachs & Co.
Fees:	2.675%
Cusip:	36253M729

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