New Issue: GS Finance sells $12.86 million dual directional trigger participation notes on S&P

By Taylor Fox

New York, Sept. 1 – GS Finance Corp. priced $12.86 million of 0% dual directional trigger participation securities due June 1, 2022 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the index return, capped at par plus 17%.

If the index declines by 10% or less, the payout will be par plus the absolute value of the index return.

If the index declines by more than 10%, investors will lose 1% for every 1% that the index declines from its initial level.

Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Dual directional trigger participation securities
Underlying index:	S&P 500 index
Amount:	$12,859,800
Maturity:	June 1, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If the final index level is greater than the initial index level, par plus the index return, capped at par plus 17%; if the index declines by 10% or less, par plus the absolute value of the index return; if the index declines by more than 10%, 1% loss for every 1% that the index declines from its initial level
Initial index level:	3,811.15
Trigger level:	3,430.035, 90% of initial level
Pricing date:	Feb. 26
Settlement date:	March 3
Agent:	Goldman Sachs & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	2.35%
Cusip:	36259Y412

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