New Issue: GS Finance sells $8.67 million trigger step securities on S&P 500, Russell 2000

By William Gullotti

Buffalo, N.Y., Sept. 14 – GS Finance Corp. priced $8.67 million of 0% trigger step securities due June 30, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the laggard index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the laggard index’s return and 30.5%.

Investors will receive par if the laggard index falls by up to 25% and will be fully exposed to all losses if the laggard index finishes below the 75% downside threshold level.

Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Trigger step securities
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$8,672,450
Maturity:	June 30, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the laggard index finishes at or above the initial level, par plus the greater of the laggard index’s return and 30.5%; par if the laggard index falls by up to 25%; full exposure to losses if the laggard index finishes below the 75% downside threshold level
Initial index levels:	4,280.7 for S&P, 2,334.396 for Russell
Threshold levels:	3,210.525 for S&P, 1,750.797 for Russell; 75% of initial levels
Pricing date:	June 25
Settlement date:	June 30
Underwriter:	Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
Fees:	3.5%
Cusip:	36260Y666

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