By Taylor Fox
New York, Nov. 23 – GS Finance Corp. priced $1.76 million of 0% dual directional trigger participation securities due Nov. 3, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final fund level is greater than the initial fund level, the payout at maturity will be par of $10 plus the fund return, capped at par plus 50%.
If the fund declines by 10% or less, the payout will be par plus the absolute value of the fund return.
If the fund declines by more than 10%, investors will lose 1% for every 1% that the fund declines from its initial level.
Goldman Sachs & Co. LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Dual directional trigger participation securities
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1,762,100
|
| Maturity: | Nov. 3, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final fund level is greater than the initial fund level, par plus the fund return, capped at par plus 50%; if the fund declines by 10% or less, par plus the absolute value of the fund return; if the fund declines by more than 10%, 1% loss for every 1% that the fund declines from its initial level
|
| Initial fund level: | $44.71
|
| Trigger level: | $40.239, 90% of initial level
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agent: | Goldman Sachs & Co. LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3.175%
|
| Cusip: | 36259Q310
|
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