New Issue: GS Finance sells $4.33 million digital underlier-linked notes on Stoxx index, iShares ETF

By William Gullotti

Buffalo, N.Y., Feb. 23 – GS Finance Corp. priced $4.33 million of 0% digital underlier-linked notes due Feb. 22, 2028 linked to the Euro Stoxx 50 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 barrier level, 55% of initial value, the payout at maturity will be the greater of par plus 37.75% and par plus the lesser-performing underlier’s return.

Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier declines from its initial value.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Digital underlier-linked notes
Underlying assets:	Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
Amount:	$4,328,000
Maturity:	Feb. 22, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlier finishes at or above barrier level, the greater of par plus 37.75% and par plus the return of the lesser-performing underlier; otherwise, 1% loss for every 1% decline in lesser-performing underlier from initial value
Initial values:	$40.12 for ETF, 4,297.24 for index
Barrier level:	55% of initial levels
Pricing date:	Feb. 16
Settlement date:	Feb. 22
Underwriter:	Goldman Sachs & Co. LLC
Fees:	1.12%
Cusip:	40057PMQ2

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