Chicago, March 11 – GS Finance Corp. priced $10.1 million of 0% trigger notes due March 5, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final fund level is greater than or equal to 75% of the initial fund level, the payout at maturity will be par plus 11.1%.
If the final fund level is less than 75% of the initial fund level, investors will lose 1% for every 1% that the final fund level is less than the initial fund level.
Goldman Sachs & Co. is the underwriter with JPMorgan Securities LLC as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $10,110,000
|
| Maturity: | March 5, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final fund level is greater than or equal to 75% of the initial fund level, par plus 11.1%; otherwise, 1% loss for every 1% that the final fund level is less than the initial fund level
|
| Initial level: | $30.41
|
| Final level: | Average of fund closing levels on five trading days ending March 2, 2020
|
| Pricing date: | March 1
|
| Settlement date: | March 6
|
| Underwriter: | Goldman Sachs & Co.
|
| Agent: | JPMorgan Securities LLC
|
| Fees: | 1.05%
|
| Cusip: | 40056EYL6
|
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