By Marisa Wong
Los Angeles, May 25 – GS Finance Corp. priced $727,000 of 0% leveraged buffered notes due Sept. 29, 2023 tied to 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 the ETF finishes above its initial level, the payout at maturity will be par plus 2 times the gain, subject to a maximum payout of $1,200 per $1,000 note.
If the ETF finishes flat or falls by up to 10%, investors will receive par. Otherwise, investors will lose 1% for every 1% ETF decline beyond the 10% buffer.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying ETF: | Invesco QQQ Trust, series 1
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Amount: | $727,000
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Maturity: | Sept. 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any ETF gain, capped at par plus 20%; par if ETF finishes flat or falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10% buffer
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Initial value: | $316.00
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.925%
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Cusip: | 40057FLD4
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