New Issue: GS Finance sells $2.85 million digital underlier-linked notes on index, ETF

By Wendy Van Sickle

Columbus, Ohio, Nov. 20 – GS Finance Corp. priced $2.85 million of 0% digital underlier-linked notes due Nov. 22, 2022 linked to the SPDR S&P Biotech exchange-traded fund and the Russell 2000 index, 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 underlier is greater than or equal to 70% of its initial level, the payout at maturity will be the threshold settlement amount of $1,300 for each $1,000 of notes.

Investors will be fully exposed to the decline of the lesser performing underlier if either underlier falls by more than 30%.

Goldman Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Digital underlier-linked notes
Underliers:	SPDR S&P Biotech ETF and Russell 2000 index
Amount:	$2.85 million
Maturity:	Nov. 22, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each underlier is greater than or equal to 70% of its initial level, $1,300 for each $1,000 of notes; full exposure to decline of lesser performing underlier if either underlier falls by more than 30%
Initial levels:	$84.79 for ETF, 1,596.545 for index
Pricing date:	Nov. 15
Settlement date:	Nov. 22
Underwriter:	Goldman Sachs & Co.
Fees:	1.75%
Cusip:	40056XP83

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