By William Gullotti
Buffalo, N.Y., Nov. 21 – GS Finance Corp. priced $4.97 million of 0% bearish barrier market-linked notes with daily barrier observation due May 18, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the closing level of the index is less than the lower barrier, 80% of initial level, on any trading day during the life of the notes.
If a barrier event occurs, the payout at maturity will be par plus 1%.
If a barrier event does not occur and the final level of the index is greater than or equal to its initial level, the payout at maturity will be par.
Otherwise, investors will gain 1% for every 1% decline of the index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Issue: | Bearish barrier market-linked notes with daily barrier observation
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,968,000
|
| Maturity: | May 18, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If barrier event occurs, par plus 1%; if barrier event does not occur and final index level is greater than or equal to initial level, par; otherwise, par plus absolute value of index return
|
| Barrier event: | Closing level of index is less than lower barrier on any trading day during life of notes
|
| Initial index level: | 3,991.73
|
| Lower barrier: | 80% of initial level
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 0.6%
|
| Cusip: | 40057NYC5
|
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