New Issue: GS Finance sells $2.81 million capped trigger gears on stock basket

By Marisa Wong

Morgantown, W.Va., April 10 – GS Finance Corp. priced $2.81 million of 0% capped trigger gears due March 31, 2020 linked to an equally weighted basket of 35 stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The underlying stocks are Flowserve Corp., Idex Corp., Mueller Water Products, Inc., Pentair plc, Rexnord Corp., Xylem Inc., Vectren Corp., Aecom, Astec Industries, Inc., Emcor Group, Inc., Eagle Materials Inc., Granite Construction Inc., Headwaters Inc., MDU Resources Group, Inc., Martin Marietta Materials, Inc., Summit Materials, LLC, Tutor Perini Corp., Tetra Tech, Inc., Vulcan Materials Co., Crown Castle International Corp., Uniti Group Inc., Dycom Industries, Inc., Mastec, Inc., Quanta Services Inc., CommScope Holding Co, Inc., Gibraltar Industries, Inc., SemGroup Corp., Valero Energy Corp., Valmont Industries Inc., Knowles Corp., 3M Co., Lumentum Holdings Inc., Argan Inc., Jacobs Engineering Group Inc. and US Concrete Inc.

If the basket return is greater than zero, the payout at maturity will be par of $10 plus 2 times the basket return, subject to a maximum return of 30%. Investors will receive par if the basket declines by 15% or less and will lose 1% for each 1% decline from its initial level if the basket declines by more than 15%.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Capped trigger gears
Underlying basket:	Flowserve Corp. (NYSE: FLS), Idex Corp. (NYSE: IEX), Mueller Water Products, Inc. (NYSE: MWA), Pentair plc (NYSE: PNR), Rexnord Corp. (NYSE: RXN), Xylem Inc. (NYSE: XYL), Vectren Corp. (NYSE: VVC), Aecom (NYSE: FLS), Astec Industries, Inc. (Nasdaq: ASTE), Emcor Group, Inc. (NYSE: EME), Eagle Materials Inc. (NYSE: EXP), Granite Construction Inc. (NYSE: GVA), Headwaters Inc. (NYSE: HW), MDU Resources Group, Inc. (NYSE: MDU), Martin Marietta Materials, Inc. (NYSE: MLM), Summit Materials, LLC (NYSE: SUM), Tutor Perini Corp. (NYSE: TPC), Tetra Tech, Inc. (Nasdaq: TTEK), Vulcan Materials Co. (NYSE: VMC), Crown Castle International Corp. (NYSE: CCI), Uniti Group Inc. (Nasdaq: UNIT), Dycom Industries, Inc. (NYSE: DY), Mastec, Inc. (NYSE: MTZ), Quanta Services Inc. (NYSE: PWR), CommScope Holding Co, Inc. (Nasdaq: COMM), Gibraltar Industries, Inc. (Nasdaq: ROCK), SemGroup Corp. (NYSE: SEMG), Valero Energy Corp. (NYSE: VLO), Valmont Industries Inc. (NYSE: VMI), Knowles Corp. (NYSE: KN), 3M Co. (NYSE: MMM), Lumentum Holdings Inc. (Nasdaq: LITE), Argan Inc. (NYSE: AGX), Jacobs Engineering Group Inc. (NYSE: JEC) and US Concrete Inc. (Nasdaq: USCR); equally weighted
Amount:	$2,812,300
Maturity:	March 31, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the basket return is greater than zero, par plus 2 times the basket return, subject to a maximum return of 30%; par if the basket declines by 15% or less; 1% loss for each 1% decline from its initial level if the basket declines by more than 15%
Pricing date:	March 28
Settlement date:	March 31
Underwriter:	Goldman, Sachs & Co.
Fees:	2.75%
Cusip:	36251V291

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