By Wendy Van Sickle
Columbus, Ohio, July 27 – GS Finance Corp. priced $11.86 million of 0% dual directional trigger PLUS due Oct. 26, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, subject to a maximum return of par plus 14.7%.
Investors will receive a 1% gain for each 1% loss if the ETF declines but finishes at or above the 80% principal barrier. Otherwise, investors will lose 1% for every 1% decline of the ETF from initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanely Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Dual directional trigger PLUS
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| Underlying ETF: | iShares MSCI Emerging Markets ETF
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| Amount: | $11,857,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If ETF return is positive, par plus 200% of ETF return, subject to a maximum return of par plus 14.7%; 1% gain for each 1% loss if ETF declines but ends at or above principal barrier; otherwise, full exposure to ETF decline from initial level
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| Initial level: | $39.42
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| Principal barrier: | $31.536, 80% of initial level
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| Upside leverage: | 200%
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 36264H867
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