By Sarah Lizee
Olympia, Wash., Oct. 16 – GS Finance Corp. priced $1.67 million of 0% notes due Oct. 13, 2022 linked to the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
A reset event will occur if, on any day during the observation period, from the trade date to and including April 7, 2021, the closing level of the ETF is less than 85% of the initial ETF level.
If a reset event has not occurred and the ETF return is positive, the payout will be par plus the ETF return capped at par plus 32%. If the ETF falls by up to 20%, the payout will be par. Otherwise, investors will have full exposure to the ETF’s decline.
If a reset event has occurred and the ETF return plus 15% is positive, the payout will be par plus the ETF return plus 15%, capped at par plus 47%. If the ETF return plus 15% is zero or negative but not by more than 5%, the payout will be par. Otherwise, investors will have full exposure to the ETF’s decline.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Notes
|
| Underlying ETF: | SPDR S&P 500 ETF
|
| Amount: | $1.67 million
|
| Maturity: | Oct. 13, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a reset event has not occurred and the ETF return is positive, par plus the ETF return capped at par plus 32%; if the ETF falls by up to 20%, par; otherwise, investors will have full exposure to the ETF’s decline; if a reset event has occurred and the ETF return plus 15% is positive, par plus the ETF return plus 15%, capped at par plus 47%; if the ETF return plus 15% is zero or negative but not by more than 5%, par; otherwise, investors will have full exposure to the ETF’s decline
|
| Reset event: | Occurs if on any day up to and including April 7, 2021 closing level of the ETF is less than 85% of the initial level
|
| Initial level: | $293.08
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 10
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.15%
|
| Cusip: | 40056XJ98
|
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