By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – GS Finance Corp. priced $10.02 million of 0% leveraged buffered fund-linked notes due Oct. 15, 2020 tied to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If the fund return is positive, the payout at maturity will be par plus the fund return, subject to a maximum payment of $1,163 per $1,000 principal amount.
If the fund falls by up to 30%, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any decline in the fund.
Goldman Sachs & Co. LLC is the agent with JPMorgan as the placement agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Leveraged buffered ETF-linked notes
|
| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $10,022,000
|
| Maturity: | Oct. 15, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund return is positive, par plus fund return, subject to maximum payment of $1,163 per $1,000 principal amount; par plus absolute value of fund return if fund falls by up to 30%;1% loss for every 1% decline from initial level if fund falls by more than 30%
|
| Initial fund level: | $22.51
|
| Final level: | Average of closing levels on five trading days ending Oct. 9, 2020
|
| Buffer level: | 70% of initial level
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 2
|
| Agent: | Goldman, Sachs & Co. LLC with JPMorgan as placement agent
|
| Fees: | 1.1%
|
| Cusip: | 40056XFM3
|
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