New Issue: GS Finance prices $320,000 buffered PLUS linked to EM ETF

By Sarah Lizee

Olympia, Wash., June 29 – GS Finance Corp. priced $320,000 of 0% buffered Performance Leveraged Upside Securities due Jan. 4, 2023 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the ETF return is positive, the payout at maturity will be par of $10 plus double the ETF return, capped at $11.775 for each $10 note. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered Performance Leveraged Upside Securities
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$320,000
Maturity:	Jan. 4, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If ETF return is positive, par plus 200% of ETF return, capped at $11.775 for each $10 note; par if ETF drops 10% or less; 1% loss for every 1% decline beyond 10%
Initial share price:	$39.92
Buffer level:	90% of initial level
Pricing date:	June 19
Settlement date:	June 24
Underwriter:	Goldman Sachs & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	3.175%
Cusip:	36259J472

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