By William Gullotti
Buffalo, N.Y., Sept. 2 – GS Finance Corp. priced $3 million of 0% buffered Performance Leveraged Upside Securities due Dec. 21, 2023 tied to the iShares Emerging Markets 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 par plus 17.5%. 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.
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying ETF: | iShares Emerging Markets ETF
|
| Amount: | $3 million
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| Maturity: | Dec. 21, 2023
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| 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 17.5%; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10%
|
| Initial share price: | $54.23
|
| Buffer level: | 90% of initial level
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| Pricing date: | June 18
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| Settlement date: | June 23
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 36260Y609
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