New Issue: GS Finance sells $4.5 million trigger notes on SPDR S&P Bank ETF

By Marisa Wong

Morgantown, W.Va., April 17 – GS Finance Corp. priced $4.5 million of 0% trigger notes due April 18, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the fund finishes at or above 80% of the initial level, the payout at maturity will be par plus the greater of the fund return, capped at 21.8%, and zero.

If the fund finishes below 80% of the initial level, investors will lose 1% for each 1% decline below the initial level.

Goldman Sachs & Co. is the underwriter with JPMorgan as placement agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Trigger notes
Underlying fund:	SPDR S&P Bank ETF
Amount:	$4.5 million
Maturity:	April 18, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the fund finishes at or above 80% of initial level, par plus greater of the fund return, capped at 21.8%, and zero; otherwise, investors will lose 1% for each 1% decline below the initial level
Initial price:	$42.98
Final level:	Average of closing share prices on the five trading days ending April 13, 2018
Pricing date:	March 31
Settlement date:	April 5
Underwriter:	Goldman, Sachs & Co. with JPMorgan as placement agent
Fees:	1.1%
Cusip:	40054L3J1

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