By Susanna Moon
Chicago, May 11 – GS Finance Corp. priced $$423,000 of 0% notes due Nov. 3, 2021 tied to the lesser performing of the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each fund finishes at or above its initial level, the payout at maturity will be par plus 2.25 times the return of the worse performing fund.
If either fund falls by up to its 70% knock-out level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing fund.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Notes
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| Underlying funds: | iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF
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| Amount: | $423,000
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| Maturity: | Nov. 3, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each fund gains, par plus 2.25 times return of worse performing fund; if either fund falls by up to 30%, par; otherwise, 1% loss for each 1% decline of worse performing fund
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| Initial levels: | $46.92 for EM fund, $70.74 for EAFE fund
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| Trigger levels: | 70% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.95%
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| Cusip: | 40055AWS2
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