New Issue: GS Finance sells $520,000 buffered notes linked to index, ETF basket

By Marisa Wong

Morgantown, W.Va., Sept. 27 – GS Finance Corp. priced $520,000 of 0% buffered notes due Sept. 26, 2022 linked to a basket of indexes and exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket includes the S&P 500 index with a 50% weight, the Russell 2000 index with a 20% weight, the iShares MSCI ETF with a 15% weight and the iShares Emerging Markets ETF with a 15% weight.

The payout at maturity will be par plus any basket gain.

Investors will receive par if the basket declines by 18.25% or less and will lose 1% for every 1% that it declines beyond 18.25%.

Goldman Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered notes
Underlying basket:	S&P 500 index with a 50% weight, Russell 2000 index with a 20% weight, iShares MSCI ETF with a 15% weight and iShares Emerging Markets ETF with a 15% weight
Amount:	$520,000
Maturity:	Sept. 26, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus basket return; par if basket falls by up to 18.25%; 1% loss for every 1% decline in basket beyond 18.25%
Initial levels:	2,500.60 for S&P, 1,444.184 for Russell, $68.18 for EAFE and $45.64 for EM
Pricing date:	Sept. 21
Settlement date:	Sept. 26
Underwriter:	Goldman Sachs & Co.
Fees:	4.85%
Cusip:	40054LTE4

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