New Issue: GS Finance sells $123,000 leveraged buffered notes on ARK Innovation

By Marisa Wong

Los Angeles, March 1 – GS Finance Corp. priced $123,000 of 0% leveraged buffered ETF-linked notes due Aug. 10, 2023 tied to the ARK Innovation 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 finishes above its initial value, the payout at maturity will be par plus 2.5 times the ETF return, capped at par plus 45%.

If the ETF finishes flat or falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% ETF decline beyond the 20% buffer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered ETF-linked notes
Underlying ETF:	ARK Innovation ETF
Amount:	$123,000
Maturity:	Aug. 10, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2.5 times any ETF gain, capped at par plus 45%; par if ETF finishes flat or falls by up to 20%; otherwise, 1% loss for every 1% ETF decline beyond 20%
Initial value:	$149.46
Pricing date:	Feb. 5
Settlement date:	Feb. 10
Agent:	Goldman Sachs & Co. LLC
Fees:	1.075%
Cusip:	40057F6A7

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