By William Gullotti
Buffalo, N.Y., Sept. 5 – GS Finance Corp. priced $1.5 million of 0% leveraged buffered notes due Nov. 1, 2024 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley.
The payout at maturity will be par plus triple the basket gain, up to a maximum payout of par plus 19%.
Investors will receive par if the basket finishes flat or falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying basket: | Citigroup Inc., JPMorgan Chase & Co., Morgan Stanley; equal weights
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| Amount: | $1.5 million
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| Maturity: | Nov. 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus three times basket gain, up to par plus 19%; par if basket finishes flat or declines by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
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| Initial levels: | $41.72 for Citi, $148.76 for JPMorgan, $85.55 for Morgan Stanley
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| Buffer level: | 90% of initial level
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.45%
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| Cusip: | 40057TXW9
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