By William Gullotti
Buffalo, N.Y., May 9 – GS Finance Corp. priced $2 million of 0% leveraged buffered ETF-linked notes due May 2, 2024 tied 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 ETF return is positive, investors will receive par plus twice the ETF gain, capped at par plus 49.28%.
If the ETF return is flat or falls by up to 30%, investors will receive par. Otherwise, investors will lose 1.4286% for every 1% decline beyond 30%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Leveraged buffered ETF-linked notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2 million
|
| Maturity: | May 2, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus twice the ETF gain, capped at par plus 49.28%; if ETF return is flat or falls by up to 30%, par; otherwise, 1.4286% loss for every 1% decline beyond 30%
|
| Initial ETF level: | $131.13
|
| Buffer level: | 70% of initial level
|
| Strike date: | April 27
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 40057LWM9
|
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