New Issue: GS Finance sells $5.86 million buffered notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., April 1 – GS Finance Corp. priced $5.86 million of 0% buffered index-linked notes due March 25, 2020 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 plus the index return, capped at par plus 5%. Investors will receive par if the index falls by up to 14.1% and lose 1.1641% for every 1% decline in the index beyond 14.1%.

Goldman, Sachs & Co. is the underwriter with JPMorgan as placement agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered index-linked notes
Underlying index:	S&P 500
Amount:	$5,855,000
Maturity:	March 25, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus index return, capped at par plus 5%; par if index falls by up to 14.1%; 1% loss for every 1% decline in index beyond 14.1%
Initial index level:	2,743.07
Final level:	Average of index levels on five averaging dates ending March 20, 2020
Pricing date:	March 8
Settlement date:	March 13
Underwriter:	Goldman, Sachs & Co. with JPMorgan as placement agent
Fees:	1.1%
Cusip:	40056F3L7

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