By Marisa Wong
Los Angeles, Sept. 1 – GS Finance Corp. priced $3 million of 0% capped buffer gears due Oct. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final index level is greater than the initial level, the payout at maturity will be par plus 2 times the index gain, subject to a maximum settlement amount of $11.26 per $10 principal amount.
If the index finishes at or below the initial level but at or above the downside threshold, which is 85% of the initial level, the payout will be par.
If the index finishes below the 85% downside threshold, investors will lose 1% for every 1% index decline beyond 15%.
Goldman Sachs & Co. LLC is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped buffer gears
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| Underlying index: | S&P 500 index
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| Amount: | $3 million
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| Maturity: | Oct. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 2 times any index gain, capped at par plus 12.6%; if index finishes flat or falls by up to 15%, par; otherwise, 1% loss for every 1% index decline beyond 15%
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| Initial index level: | 4,057.66
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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| Fees: | 2%
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| Cusip: | 36264Q347
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