New Issue: GS Finance sells $1.13 million ETF-linked notes on three funds

By Wendy Van Sickle

Columbus, Ohio, June 16 – GS Finance Corp. priced $1.13 million of 0% ETF-linked notes due May 20, 2027 tied to the SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the SPDR Dow Jones Industrial Average ETF trust , according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each ETF is zero or positive, the payout at maturity will par plus 1.46 times the return of the least performing ETF.

If the least performing ETF falls by up to 20%, the payout will be par. If the least performing ETF falls by more than 20%, investors will be exposed to the decline of the least performing ETF beyond 20%.

Goldman, Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	ETF-linked notes
Underlying ETFs:	SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF and SPDR Dow Jones Industrial Average ETF trust
Amount:	$1,125,000
Maturity:	May 20, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If laggard fund return is flat or positive, par plus 1.46 times laggard ETF return; if laggard ETF falls by up to 20%, par; otherwise, exposure to losses of laggard ETF beyond 20%
Initial values:	$415.52 for S&P 500 ETF, $221.32 for Russell and $343.65 for Dow
Barrier levels:	80% of initial levels
Pricing date:	May 17
Settlement date:	May 20
Agent:	Goldman, Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057HDP2

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