By William Gullotti
Buffalo, N.Y., March 11 – GS Finance Corp. priced $8.45 million of 0% dual directional trigger PLUS due Sept. 4, 2025 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the ETF finishes above the initial level, the payout at maturity will be par plus 200% of the gain, up to a maximum payout of par plus 27.25%.
If the ETF is flat or falls by up to 20%, the payout at maturity will be par plus the absolute value of the ETF return.
Otherwise, investors will be fully exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | VanEck Gold Miners ETF
|
| Amount: | $8,447,000
|
| Maturity: | Sept. 4, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes above initial level, par plus 200% of ETF gain, subject to a maximum payout of par plus 27.25%; if ETF is flat or falls by up to 20%, gain 1% for each 1% decline; otherwise, full exposure to ETF decline from initial level
|
| Initial level: | $26.36
|
| Trigger level: | $21.088; 80% of initial level
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 5
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 40057YDH3
|
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