New Issue: GS prices $1 million buffered index-linked notes tied to S&P

By Sarah Lizee

Olympia, Wash., March 23 – GS Finance Corp. priced $1 million of 0% buffered index-linked notes due June 17, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index closes above its initial level, the payout at maturity will be par plus the index return, capped at $1,170 per $1,000 of notes.

If the index finishes flat or falls by up to 15%, investors will receive par plus the absolute value of the index’s return. Investors will lose 1% for every 1% decline beyond the buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered index-linked notes
Underlying index:	S&P 500
Amount:	$1 million
Maturity:	June 17, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index closes above its initial level, par plus the index return, capped at $1,170 per $1,000 of notes; if the index finishes flat or falls by up to buffer level, par plus the absolute value of the index’s return; otherwise, 1% loss for every 1% decline beyond the buffer
Initial index levels:	2,480.64
Buffer level:	85% of initial level
Pricing date:	March 13
Settlement date:	March 18
Agent:	Goldman Sachs & Co. LLC
Fees:	0.35%
Cusip:	40056YUV4

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