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Published on 3/6/2019 in the Prospect News Structured Products Daily.

New Issue: GS Finance sells $2 million capped buffer in-gears tied to S&P, Russell

By Sarah Lizee

Olympia, Wash., March 6 – GS Finance Corp. priced $2 million of 0% capped buffer in-gears due July 6, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of the lesser-performing index is greater than negative 12%, the payout at maturity will be par plus the lesser of 1.4 times the sum of the lesser-performing index’s return and 12%, subject to a maximum return of 56%.

If the return of the lesser-performing index is less than negative 12%, investors will lose 1% for every 1% that the lesser-performing index declines beyond 12%.

Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Capped buffer in-gears
Underlying indexes:S&P 500 and Russell 2000
Amount:$2 million
Maturity:July 6, 2023
Coupon:0%
Price:Par
Payout at maturity:If lesser-performing index’s return is greater than negative 12%, par plus lesser of 1.4 times sum of lesser-performing index’s return and 12%, subject to 56% maximum return; if lesser-performing index’s return is less than negative 12%, 1% loss for every 1% that lesser-performing index declines beyond 12%
Initial index levels:Average of closing levels on each day from March 1 to May 30
Pricing date:March 4
Settlement date:March 7
Agent:Goldman Sachs & Co. and UBS Financial Services Inc.
Fees:1.05%
Cusip:36257D279

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