New Issue: GS Finance sells $1.44 million buffered notes on iShares MSCI EM

By Marisa Wong

Morgantown, W.Va., Aug. 17 – GS Finance Corp. priced $1.44 million of 0% buffered ETF-linked notes due Aug. 20, 2020 tied to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Goldman Sachs Group, Inc. is the guarantor.

If the ETF return is positive, the payout at maturity will be par plus the ETF return, subject to a maximum payment of $1,450 per $1,000 principal amount. Investors will receive par if the ETF falls by up to 12.1% and lose 1% for every 1% decline in the ETF beyond 12.1%.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered ETF-linked notes
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$1,444,000
Maturity:	Aug. 20, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus ETF return, subject to maximum payment of $1,450 per $1,000 principal amount; par if ETF falls by up to 12.1%; 1% loss for every 1% decline in ETF beyond 12.1%
Initial price:	$41.51
Pricing date:	Aug. 15
Settlement date:	Aug. 20
Underwriter:	Goldman, Sachs & Co.
Fees:	0.675%
Cusip:	40055QTN2

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