By William Gullotti
Buffalo, N.Y., June 22 – GS Finance Corp. priced $2.28 million of 0% capped airbag gears due June 15, 2023 linked to the iShares Russell 1000 Value ETF, 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 1.5 times the ETF return, subject to a maximum settlement amount of 20.7%. Investors will receive par if the ETF falls by up to 10% and will lose 1.1111% for each 1% ETF decline beyond 10%.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Capped airbag gears
|
| Underlying ETF: | iShares Russell 1000 Value ETF
|
| Amount: | $2,275,000
|
| Maturity: | June 15, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.5 times any ETF gain, capped at 20.7%; par if the ETF falls by up to 10%; 1.1111% loss for each 1% ETF decline beyond 10%
|
| Initial level: | $160.96
|
| Buffer level: | 90% of initial level
|
| Pricing date: | June 11
|
| Settlement date: | June 17
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 0%
|
| Cusip: | 36260Y492
|
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