New Issue: GS Finance prices $9.38 million buffered PLUS linked to Global Clean Energy ETF

By William Gullotti

Buffalo, N.Y., July 6 – GS Finance Corp. priced $9.38 million of 0% buffered Performance Leveraged Upside Securities due Jan. 2, 2024 tied to the iShares Global Clean Energy 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 of $10 plus 200% of the ETF return, subject to a maximum payment of $12.65 per $10 notes. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered Performance Leveraged Upside Securities
Underlying ETF:	iShares Global Clean Energy ETF
Amount:	$9,378,690
Maturity:	Jan. 2, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If ETF gains, par plus 200% of ETF gain, subject to a maximum payout of par plus 26.5%; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10%
Initial share price:	$23.46
Buffer level:	90% of initial level
Pricing date:	June 30
Settlement date:	July 6
Underwriter:	Goldman Sachs & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	3%
Cusip:	36260Y500

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