By William Gullotti
Buffalo, N.Y., May 22 – GS Finance Corp. priced $11.88 million of 0% trigger jump securities due May 3, 2027 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 index finishes at or above its initial level, the payout at maturity will equal par plus the greater of the return and the fixed payment percentage of 31.38%.
If the index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger jump securities
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Underlying index: | S&P 500
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Amount: | $11,881,000
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Maturity: | May 3, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial level, par plus greater of index return and 31.38%; par if index falls by up to 20%; otherwise, 1% loss for each 1% decline from initial level
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Initial index level: | 4,169.48
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Downside threshold level: | 3,335.584; 80% of initial level
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Pricing date: | April 28
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Settlement date: | May 3
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Underwriter: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 40057RJU3
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