New Issue: GS Finance prices $8.11 million capped trigger gears on S&P 500

By Marisa Wong

Morgantown, W.Va., May 27 – GS Finance Corp. priced $8.11 million of 0% trigger gears due May 31, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index return is positive, the payout at maturity will be par of $10 plus 2 times the index return, subject to a maximum settlement amount of $13.30 per $10 note. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines by more than 25%.

Goldman Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Capped trigger gears
Underlying index:	S&P 500
Amount:	$8,107,650
Maturity:	May 31, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 2 times index return, capped at 33%; par if index declines by 25% or less; full exposure to index’s decline from initial level if index declines by more than 25%
Initial index level:	2,090.54
Downside threshold:	1,567.91, 75% of initial level
Pricing date:	May 25
Settlement date:	May 31
Agent:	Goldman Sachs & Co.
Fees:	2.75%
Cusip:	36250E852

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