New Issue: GS Finance sells $3.82 million leveraged buffered notes on iShares MSCI Emerging Markets ETF

By Wendy Van Sickle

Columbus, Ohio, Dec. 5 – GS Finance Corp. priced $3.82 million of 0% leveraged buffered notes due July 2, 2020 tied to 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 the ETF return is positive, the payout at maturity will be par plus 150% of the return, subject to a maximum gain of 32.65%. Investors will receive par if the ETF falls by up to 10% and lose 1% for every 1% decline beyond 10%.

Goldman Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered notes
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$3,822,000
Maturity:	July 2, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 150% of return, subject to a maximum gain of 32.65%; par if ETF falls by up to 10%; 1% loss for every 1% decline in ETF beyond 10%
Initial level:	$41.48
Pricing date:	Nov. 28
Settlement date:	Dec. 3
Underwriter:	Goldman Sachs & Co.
Fees:	0.15%
Cusip:	40056EGX0

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