By William Gullotti
Buffalo, N.Y., March 17 – GS Finance Corp. priced $1.42 million of 0% leveraged buffered ETF-linked notes due April 14, 2023 tied to the SPDR S&P Oil & Gas Exploration & Production 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 quintuple the ETF gain, capped at $1,282 per $1,000 principal amount of notes.
If the ETF return is flat or falls by up to 15%, investors will receive par.
Otherwise, investors will lose 1.1765% for every 1% decline beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Leveraged buffered ETF-linked notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,418,000
|
| Maturity: | April 14, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus five times the ETF gain, capped at $1,282 per $1,000 principal amount of notes; if ETF return is flat or falls by up to 15%, par; otherwise, 1.1765% loss for every 1% decline beyond 15%
|
| Initial ETF level: | $126.32
|
| Buffer level: | 85% of initial level
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.45%
|
| Cusip: | 40057LHQ7
|
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