New Issue: GS Finance sells $7.66 million trigger gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., July 10 – GS Finance Corp. priced $7.66 million of 0% trigger gears due June 30, 2022 tied 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 return is positive, the payout at maturity will be par of $10 plus 1.18 times the gain. Investors will receive par if the index declines by 40% or less and will lose 1% for each 1% decline from the initial level if the index declines by more than 40%.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Trigger gears
Underlying index:	S&P 500 index
Amount:	$7,656,030
Maturity:	June 30, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 1.18 times the gain; par if index declines by 40% or less; 1% loss for each 1% decline from initial level if index declines by more than 40%
Initial index level:	2,419.38
Downside threshold:	1,451.63, 60% of initial level
Pricing date:	June 27
Settlement date:	June 30
Underwriter:	Goldman, Sachs & Co.
Fees:	3.85%
Cusip:	36251V804

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