New Issue: GS Finance prices $10.25 million bearish leveraged notes linked to S&P

By Angela McDaniels

Tacoma, Wash., Dec. 16 – GS Finance Corp. priced $10.25 million of 0% bearish leveraged notes due Dec. 16, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is less than the initial index level, the payout at maturity will be par plus 2% for every 1% that the index declines, subject to a maximum return of 38.4%. If the final index level is greater than or equal to the initial index level, investors will lose 1% for every 1% that the index advances.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter. J.P. Morgan Securities LLC is the placement agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Bearish leveraged notes
Underlying index:	S&P 500
Amount:	$10.25 million
Maturity:	Dec. 16, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is less than initial index level, par plus 2% for every 1% that index declines, subject to maximum return of 38.4%; if final index level is greater than or equal to initial index level, 1% loss for every 1% that index advances
Initial level:	3,168.57
Final index level:	Average of index’s closing levels on five trading days ending Dec. 13, 2021
Pricing date:	Dec. 12
Settlement date:	Dec. 17
Underwriter:	Goldman Sachs & Co. LLC
Placement agent:	J.P. Morgan Securities LLC
Fees:	1.65%
Cusip:	40056XVF0

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