New Issue: GS Finance prices $225,000 leveraged buffered ETF-linked notes on High Beta ETF

By William Gullotti

Buffalo, N.Y., July 20 – GS Finance Corp. priced $225,000 of 0% leveraged buffered ETF-linked notes due June 2, 2023 tied to the Invesco S&P 500 High Beta 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, investors will receive par plus twice the ETF gain with a maximum payout of par plus 25%.

If the ETF return is flat or falls by up to 10%, investors will receive par. Investors will lose 1% for every 1% decline beyond 10%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Issue:	Leveraged buffered ETF-linked notes
Underlying ETF:	Invesco S&P 500 High Beta ETF
Amount:	$225,000
Maturity:	June 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus twice the ETF gain, capped at $1,250 per $1,000 of notes; if ETF return is flat or falls by up to 10%, par; 1% loss for every 1% decline beyond 10%
Initial ETF level:	$76.91
Buffer level:	90% of initial level
Pricing date:	May 27
Settlement date:	June 2
Agent:	Goldman Sachs & Co. LLC
Fees:	1.05%
Cusip:	40057H6Y1

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