New Issue: GS Finance sells $520,000 leveraged notes on basket of 26 stocks

By Marisa Wong

Los Angeles, May 3 – GS Finance Corp. priced $520,000 of 0% leveraged notes due April 14, 2022 linked a basket of common shares, limited partnership units or American depositary shares of 26 companies, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket stocks are Aecom with a 5.00% weight, Brookfield Infrastructure Partners LP with a 2.12% weight, Caterpillar Inc. with a 5.00% weight, Cummins Inc. with a 5.00% weight, Cemex, SAB de CV with a 4.50% weight, Deere & Co. with a 5.00% weight, Dycom Industries, Inc. with a 3.67% weight, Emcor Group, Inc. with a 3.17% weight, Eagle Materials Inc. with a 3.13% weight, Gerdau SA with a 3.72% weight, Granite Construction Inc. with a 2.28% weight, Herc Holdings Inc. with a 1.37% weight, Jacobs Engineering Group, Inc. with a 5.00% weight, KBR, Inc. with a 3.26% weight, Macquarie Infrastructure Corp. with a 2.45% weight, Martin Marietta Materials, Inc. with a 5.00% weight, MasTec, Inc. with a 5.00% weight, Oshkosh Corp. with a 4.32% weight, Quanta Services, Inc. with a 5.00% weight, Steel Dynamics, Inc. with a 5.00% weight, Summit Materials, Inc. with a 2.31% weight, United Rentals, Inc. with a 5.00% weight, U.S. Concrete, Inc. with a 1.78% weight, Vulcan Materials Co. with a 5.00% weight, Valmont Industries, Inc. with a 1.92% weight, Xylem Inc. with a 5.00% weight.

If the basket return is positive, the payout at maturity will be par plus 1.5 times the gain, subject to a maximum settlement amount of $1,203.25 per $1,000 of notes.

Investors will be fully exposed to any basket decline.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged notes
Underlying basket:	Aecom (NYSE: ACM) with a 5.00% weight, Brookfield Infrastructure Partners LP (NYSE: BIP) with a 2.12% weight, Caterpillar Inc. (NYSE: CAT) with a 5.00% weight, Cummins Inc. (NYSE: CMI) with a 5.00% weight, Cemex, SAB de CV (NYSE: CX) with a 4.50% weight, Deere & Co. (NYSE: DE) with a 5.00% weight, Dycom Industries, Inc. (NYSE: DY) with a 3.67% weight, Emcor Group, Inc. (NYSE: EME) with a 3.17% weight, Eagle Materials Inc. (NYSE: EXP) with a 3.13% weight, Gerdau SA (NYSE: GGB) with a 3.72% weight, Granite Construction Inc. (NYSE: GVA) with a 2.28% weight, Herc Holdings Inc. (NYSE: HRI) with a 1.37% weight, Jacobs Engineering Group, Inc. (NYSE: J) with a 5.00% weight, KBR, Inc. (NYSE: KBR) with a 3.26% weight, Macquarie Infrastructure Corp. (NYSE: MIC) with a 2.45% weight, Martin Marietta Materials, Inc. (NYSE: MLM) with a 5.00% weight, MasTec, Inc. (NYSE: MTZ) with a 5.00% weight, Oshkosh Corp. (NYSE: OSK) with a 4.32% weight, Quanta Services, Inc. (NYSE: PWR) with a 5.00% weight, Steel Dynamics, Inc. (Nasdaq: STLD) with a 5.00% weight, Summit Materials, Inc. (NYSE: SUM) with a 2.31% weight, United Rentals, Inc. (NYSE: URI) with a 5.00% weight, U.S. Concrete, Inc. (Nasdaq: USCR) with a 1.78% weight, Vulcan Materials Co. (NYSE: VMC) with a 5.00% weight, Valmont Industries, Inc. (NYSE: VMI) with a 1.92% weight, Xylem Inc. (NYSE: XYL) with a 5.00% weight
Amount:	$520,000
Maturity:	April 14, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any basket gain, capped at par plus 20.325%; full exposure to losses
Initial prices:	$62.70 for Aecom, $53.20 for Brookfield, $229.00 for Caterpillar, $273.92 for Cummins, $7.29 for Cemex, $369.49 for Deere, $100.78 for Dycom, $115.30 for Emcor, $133.54 for Eagle, $4.91 for Gerdau, $40.48 for Granite, $99.57 for Herc, $126.46 for Jacobs, $33.67 for KBR, $32.40 for Macquarie, $343.83 for Martin, $98.93 for MasTec, $115.94 for Oshkosh, $88.64 for Quanta, $49.19 for Steel, $30.35 for Summit, $317.86 for United, $66.78 for U.S. Concrete, $171.94 for Vulcan, $248.51 for Valmont, $101.87 for Xylem
Pricing date:	March 12
Settlement date:	March 19
Agent:	Goldman Sachs & Co. LLC
Fees:	0.81%
Cusip:	40057FS96

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