By Sarah Lizee
Olympia, Wash., Oct. 24 – GS Finance Corp. priced $2 million of 0% capped buffer ingears due Oct. 7, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of each index is greater than or equal to 98% of its initial level, the payout at maturity will be par plus 11% plus an additional 1.75% for each 1% by which the final level of the lesser performing index exceeds 98% of its initial level, subject to the maximum settlement amount of $17.60 for each $10 face amount.
If the final level of any index is less than 98% of its initial level but the final level of each index is greater than or equal to its downside threshold of 88% of its initial level, investors will receive 0.6% for each 1% by which the final level of the lesser performing index exceeds its downside threshold.
If the final level of any index is less than its downside threshold, investors will lose 1% for every 1% decline in the level of the lesser performing index beyond the downside threshold.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped buffer ingears
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $2 million
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| Maturity: | Oct. 7, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the final level of each index is greater than or equal to 98% of its initial level, the payout at maturity will be par plus 11% plus an additional 1.75% for each 1% by which the final level of the lesser performing index exceeds 98% of its initial level, subject to the maximum settlement amount of $17.60 for each $10 face amount; if the final level of any index is less than 98% of its initial level but the final level of each index is greater than or equal to its downside threshold of 88% of its initial level, 0.6% for each 1% by which the final level of the lesser performing index exceeds its downside threshold; otherwise, 1% loss for every 1% decline in the level of the lesser performing index beyond the downside threshold
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| Initial levels: | Initial level of each index will not be determined until the end of the initial averaging period, Jan. 15, 2020, and will equal the arithmetic average of its closing levels on each day during that period
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 1.05%
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| Cusip: | 36258L718
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