By William Gullotti
Buffalo, N.Y., Oct. 30 – GS Finance Corp. priced $1.15 million of 0% leveraged ETF-linked notes due Oct. 25, 2028 tied to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 1.3028 times the return.
If the ETF finishes flat or declines by up to 20%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Leveraged ETF-linked notes
|
| Underlying ETF: | SPDR S&P 500 ETF Trust
|
| Amount: | $1,145,000
|
| Maturity: | Oct. 25, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF return is positive, par plus 1.3028 times the ETF’s return; if the ETF finishes flat or declines by up to 20%, par; otherwise, investors will be fully exposed to the decline of the ETF from its initial level
|
| Initial ETF level: | $421.19
|
| Trigger level: | 80% of initial level
|
| Strike date: | Oct. 20
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 25
|
| Underwriter: | Goldman Sachs & Co. LLC, with JPMorgan acting as placement agent
|
| Fees: | 3%
|
| Cusip: | 40057WSX6
|
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