By William Gullotti
Buffalo, N.Y., June 2 – GS Finance Corp. priced $5.63 million of 0% capped buffer gears due May 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus double the index return, capped at par plus 24.55%.
Investors will receive par if the index declines by 10% or less and lose 1% for every 1% that the index declines beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. UBS Financial Services Inc. is the selling agent.
Issuer: | GS Finance Corp.
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Issue: | Capped buffer gears
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Guarantor: | Goldman Sachs Group, Inc.
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Underlying index: | S&P 500
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Amount: | $5,628,560
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is greater than zero, par plus two times the index return, capped at par plus 24.55%; par if the index declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial index level: | 3,978.73
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Buffer level: | 90% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | Goldman Sachs & Co. LLC
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Selling agent: | UBS Financial Services Inc.
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Fees: | 2%
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Cusip: | 36263Q405
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