By William Gullotti
Buffalo, N.Y., Jan. 4 – GS Finance Corp. priced $5.8 million of 0% bearish capped buffer GEARS due Aug. 26, 2024 linked inversely 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 index declines, investors will gain 3% for every 1% decline of the index, subject to a maximum return of par plus 21.94%.
If the index finishes flat or gains by no more than 5%, the payout will be par.
Otherwise, investors will lose 1% for each 1% gain above the 105% threshold level, with losses capped at 95%.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish capped buffer GEARS
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| Underlying index: | S&P 500 index
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| Amount: | $5.8 million
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| Maturity: | Aug. 26, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index declines, gain 3% for every 1% decline, capped at par plus 21.94%; par if index finishes flat or gains by up to 5%; otherwise, 1% loss for each 1% gain above threshold level, with losses capped at 95%
|
| Initial level: | 4,746.75
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| Threshold level: | 105% of initial level
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| Principal protection: | 5%
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| Buffer: | 5%
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
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| Fees: | 1.5%
|
| Cusip: | 36266M831
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