By William Gullotti
Buffalo, N.Y., June 20 – GS Finance Corp. priced $1 million of 5.85% fixed coupon ETF-linked notes due June 3, 2024 linked to the SPDR S&P 500 ETF Trust and the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission amended on June 16.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The payout at maturity will be par if each ETF finishes at or above its 80% trigger level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Fixed coupon ETF-linked notes
|
| Underlying ETFs: | SPDR S&P 500 ETF Trust, SPDR Dow Jones industrial average ETF Trust
|
| Amount: | $1 million
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| Maturity: | June 3, 2024
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| Coupon: | 5.85% per year, payable quarterly
|
| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above trigger level, par; otherwise, lose 1% for every 1% decline of the worst performer below 20%
|
| Initial levels: | $330.84 for Dow ETF, $420.02 for S&P ETF
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| Trigger level: | 80% of initial levels
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.25%
|
| Cusip: | 40057RYP7
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