By William Gullotti
Buffalo, N.Y., Dec. 15 – GS Finance Corp. priced $4.01 million of 0% capped trigger gears due Dec. 11, 2023 linked to the SPDR S&P 500 ETF Trust, 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 double the ETF gain, capped at par plus 19.5%.
If the ETF finishes flat or declines up to the downside threshold, 75% of the initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
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 trigger gears
|
| Underlying fund: | SPDR S&P 500 ETF Trust
|
| Amount: | $4,007,000
|
| Maturity: | Dec. 11, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus two times any ETF gain, capped at par plus 19.5%; par if ETF finishes flat or declines up to the downside threshold; otherwise, full exposure to ETF decline
|
| Initial level: | $453.42
|
| Downside threshold: | $340.07; 75% of initial level
|
| Strike date: | Dec. 3
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 9
|
| Underwriter: | Goldman, Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 2%
|
| Cusip: | 36261Y285
|
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