New Issue: GS Finance sells $1 million leveraged notes tied to iShares MSCI EM

By Marisa Wong

Morgantown, W.Va., April 24 – GS Finance Corp. priced $1 million of 0% leveraged ETF-linked notes due June 6, 2019 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 ETF return is positive, the payout at maturity will be par plus 125% of the ETF return, subject to a maximum payment of $1,325 per $1,000 principal amount. Investors will be fully exposed to any ETF decline.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged ETF-linked notes
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$1 million
Maturity:	June 6, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 125% of ETF return, subject to maximum payment of $1,325 per $1,000 principal amount; full exposure to losses
Initial value:	$47.41
Pricing date:	April 2
Settlement date:	April 5
Underwriter:	Goldman, Sachs & Co.
Fees:	1.1%
Cusip:	40055AV95

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