By Sarah Lizee
Olympia, Wash., Sept. 12 – GS Finance Corp. priced $384,000 of 0% notes due Sept. 12, 2023 linked to the lesser performing of the SPDR S&P Biotech ETF and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each ETF’s return is positive, the payout at maturity will be par plus 1.18 times the return of the lesser-performing ETF.
If the return of either ETF is less than zero but the return of each ETF is greater than or equal to negative 30%, the payout will be par plus the absolute value of the lesser-performing ETF’s return.
If the return of either ETF is less than negative 30%, investors will lose 1% for every 1% that the lesser-performing ETF declines beyond 30%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Notes
|
| Underlying ETFs: | SPDR S&P Biotech and Invesco QQQ Trust, Series 1
|
| Amount: | $384,000
|
| Maturity: | Sept. 12, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF’s return is positive, par plus 1.18 times the return of the lesser-performing ETF; if the return of either ETF is less than zero but the return of each ETF is greater than or equal to negative 30%, par plus the absolute value of the lesser-performing ETF’s return; 1% loss for every 1% that the lesser-performing index declines beyond 30%
|
| Initial levels: | $96.41 for SPDR S&P Biotech, $181.11 for Invesco QQQ
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 12
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.775%
|
| Cusip: | 40055QW40
|
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