New Issue: GS Finance prices $5.69 million capped leveraged market-linked notes on indexes

By William Gullotti

Buffalo, N.Y., Nov. 20 – GS Finance Corp. priced $5.69 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 27, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the laggard index, capped at par plus 13.85%.

Investors will receive par if the laggard index declines by no more than 10% and lose 1% for every 1% decline of the worst performer beyond 10%.

The securities are guaranteed by Goldman Sachs Group, Inc.

Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$5.69 million
Maturity:	Nov. 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any gain of laggard index, capped at par plus 13.85%; if laggard index falls by up to 10%, par; otherwise, 1% loss for every 1% decline of worst performer beyond 10%
Initial levels:	4,502.88 for S&P, 1,801.22 for Russell
Buffer levels:	90% of initial levels
Pricing date:	Nov. 15
Settlement date:	Nov. 20
Agent:	Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
Fees:	2.325%
Cusip:	40057X4F9

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