New Issue: GS Finance sells $1.13 million underlier-linked notes on ETF, indexes

By William Gullotti

Buffalo, N.Y., Sept. 2 – GS Finance Corp. priced $1.13 million of 0% underlier-linked notes due June 23, 2026 linked to the S&P 500 index, the S&P MidCap 400 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If each underlier finishes at or above its initial value, the payout at maturity will be par plus 1.213 times the return of the lesser-performing underlier.

If any underlier falls but not by more than 20%, the payout will be par.

Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier declines beyond 20%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Underlier-linked notes
Underlying assets:	S&P 500 index, S&P MidCap 400 index, iShares MSCI Emerging Markets ETF
Amount:	$1,133,000
Maturity:	June 23, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.213 times any gain in lesser-performing underlier; par if any underlier falls but not by more than 20%; 1% loss for every 1% decline in lesser-performing underlier beyond 20%
Initial values:	$54.23 for ETF, 4,166.45 for S&P 500, 2,611.94 for S&P MidCap
Barrier level:	80% of initial levels
Pricing date:	June 18
Settlement date:	June 23
Underwriter:	Goldman Sachs & Co. LLC
Fees:	4.125%
Cusip:	40057HML1

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