New Issue: GS Finance prices $2.05 million ETF-linked notes tied to two funds

By William Gullotti

Buffalo, N.Y., Sept. 22 – GS Finance Corp. priced $2.05 million of 0% ETF-linked notes due Sept. 20, 2028 tied to the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each ETF is zero or positive, the payout at maturity will par plus 1.141 times the return of the least performing ETF.

If the least performing ETF falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the laggard ETF beyond 20%.

Goldman, Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	ETF-linked notes
Underlying ETFs:	SPDR S&P 500 ETF Trust, Invesco QQQ Trust, Series 1
Amount:	$2,052,000
Maturity:	Sept. 20, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If laggard fund return is flat or positive, par plus 1.141 times laggard ETF return; if laggard ETF falls by up to 20%, par; otherwise, lose 1% for every 1% decline of the laggard ETF beyond 20%
Initial values:	$443.37 for SPDR, $370.81 for QQQ
Barrier levels:	80% of initial levels
Pricing date:	Sept. 15
Settlement date:	Sept. 20
Agent:	Goldman, Sachs & Co. LLC
Fees:	4.125%
Cusip:	40057W6N2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.