New Issue: GS Finance prices $650,000 leveraged basket-linked notes on three indexes

Chicago, Feb. 27 – GS Finance Corp. priced $650,000 of 0% leveraged basket-linked notes due May 11, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index. The highest performing index will have a 50% weight, the second highest returning index will have a 40% weight and the third index will have a 10% weight.

The payout at maturity will be par plus 1.07 times any basket gain.

Investors will receive par if the basket finishes flat or falls by up to 30%.

If the basket falls by more than 25%, investors will lose 1% for every 1% of decline from its initial level.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged basket-linked notes
Underlying assets:	Russell 2000 index, S&P 500 index, Euro Stoxx 50 index; weighted based on performance, top performer will be 50% weight, second best performer will be 40% weight, third index will be 10% weight
Amount:	$650,000
Maturity:	May 11, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus 1.07 times basket gain; par if basket finishes flat or declines by up to 30%; otherwise, 1% loss for every 1% of basket decline from initial level
Initial levels:	1,839.565 fur Russell, 4,123.34 for S&P, 3,629.17 for Stoxx
Barrier level:	70% of initial level
Pricing date:	May 6, 2022
Settlement date:	May 11, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	1.125%
Cusip:	40057LZ46

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