By Wendy Van Sickle
Columbus, Ohio, March 16 – GS Finance Corp. priced $11.88 million of 0% trigger Performance Leveraged Upside Securities due March 14, 2024 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the fund finishes above its initial level, the payout at maturity will be par of $10 plus 200% of the gain, up to $13.36 per $10 note.
If the fund falls but finishes at or above the 90% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Goldman Sachs & Co. LLC is the underwriter with Morgan Stanley Wealth Management handling distribution.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying fund: | Financial Select Sector SPDR
|
| Amount: | $11,878,000
|
| Maturity: | March 14, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund finishes above initial level, par plus 200% of gain up to $13.36 per $10 note; if fund falls by up to trigger level, par; otherwise, investors will be fully exposed to any losses
|
| Initial level: | $36.40
|
| Trigger level: | $32.76, 90% of initial level
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Agent: | Goldman Sachs & Co. LLC with distribution through Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 36261Y813
|
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