New Issue: GS Finance sells $3.06 million buffered notes on iShares MSCI EM

By Marisa Wong

Morgantown, W.Va., Sept. 20 – GS Finance Corp. priced $3,062,000 of 0% buffered ETF-linked notes due Sept. 6, 2019 tied to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the ETF return is positive, the payout at maturity will be par plus the ETF gain, capped at 15%. Investors will receive par if the ETF falls by up to 15% and lose 1% for every 1% decline in the ETF beyond 15%.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered notes
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$3,062,000
Maturity:	Sept. 6, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus ETF gain, capped at 15%; par if ETF falls by up to 15%; 1% loss for every 1% decline in ETF beyond 15%
Initial value:	$42.95
Pricing date:	Aug. 30
Settlement date:	Sept. 5
Underwriter:	Goldman, Sachs & Co.
Fees:	0.1%
Cusip:	40055QTS1

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