By Marisa Wong
Los Angeles, Feb. 8 – GS Finance Corp. priced $1.86 million of 0% notes due Dec. 22, 2023 linked to the KraneShares CSI China Internet 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 the ETF gain, subject to a maximum settlement amount of $1,510 per $1,000 principal amount.
If the ETF finishes flat or declines by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Notes
|
| Underlying ETF: | KraneShares CSI China Internet ETF
|
| Amount: | $1,855,000
|
| Maturity: | Dec. 22, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any ETF gain, capped at par plus 51%; par if ETF finishes flat or falls by up to 40%; otherwise, 1% loss for every 1% decline below initial value
|
| Initial value: | $76.41
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 22
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 40057EUG0
|
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