New Issue: GS Finance prices $805,000 equity-linked notes on Tesla, Taiwan Semiconductor

By Kiku Steinfeld

Chicago, Nov. 7 – GS Finance Corp. priced $805,000 of 0% equity-linked notes due March 12, 2024 linked to the least performing of the common stock of Tesla, Inc. and an American depositary share of Taiwan Semiconductor Manufacturing Co. Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If all stocks finish at or above their initial value, the payout at maturity will be par plus 2.2 times the least performing stock’s return.

If the worst performing stock finishes below its initial value but not lower than 90% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 10%.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Equity-linked notes
Underlying stocks:	Tesla, Inc. and Taiwan Semiconductor Manufacturing Co. Ltd.
Amount:	$805,000
Maturity:	March 12, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If worst performer finishes at or above initial value, par plus 2.2 times the return of worst performer; if worst performer declines but finishes at or above 90% of initial value, par; otherwise, full exposure to decline of worst performer beyond 10%
Initial prices:	$838.29 for Tesla, $105.06 for Taiwan
Buffer levels:	90% of initial levels
Pricing date:	March 7
Settlement date:	March 10
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0%
Cusip:	40057LGH8

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