New Issue: GS Finance sells $800,000 leveraged buffered notes on basket of 71 stocks

By Marisa Wong

Los Angeles, April 26 – GS Finance Corp. priced $800,000 of 0% leveraged buffered notes due March 15, 2023 linked a basket of common shares or ordinary shares of 71 companies, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket stocks are Aecom with a 1.08% weight; Analog Devices, Inc. with a 1.84% weight; American International Group, Inc. with a 1.96% weight; Altair Engineering Inc. with a 0.20% weight; Advanced Micro Devices, Inc. with a 1.50% weight; Ansys, Inc. with a 1.65% weight; Bank of America Corp. with a 1.92% weight; Baker Hughes Co. with a 1.94% weight; Caterpillar Inc. with a 1.81% weight; Comerica Inc. with a 1.23% weight; Commercial Metals Co. with a 0.28% weight; Cummins Inc. with a 1.57% weight; Deere & Co. with a 1.96% weight; Discover Financial Services with a 2.09% weight; Diodes Inc. with a 0.26% weight; Dycom Industries, Inc. with a 0.30% weight; Emcor Group, Inc. with a 0.29% weight; Enphase Energy, Inc. with a 2.45% weight; Element Solutions Inc. with a 0.32% weight; Freeport-McMoRan Inc. with a 3.11% weight; Fifth Third Bancorp with a 2.07% weight; Flex Ltd. with a 0.63% weight; Halliburton Co. with a 2.23% weight; Hess Corp. with a 2.35% weight; Hartford Financial Services Group, Inc. with a 1.68% weight; Helmerich & Payne, Inc. with a 0.59% weight; Herc Holdings Inc. with a 0.12% weight; Jacobs Engineering Group, Inc. with a 1.04% weight; Jabil, Inc. with a 0.69% weight; KeyCorp with a 1.95% weight; Lincoln National Corp. with a 1.49% weight; Livent Corp. with a 0.69% weight; Microchip Technology Inc. with a 1.97% weight; MetLife, Inc. with a 1.95% weight; Macquarie Infrastructure Corp. with a 0.29% weight; Monolithic Power Systems, Inc. with a 1.43% weight; Morgan Stanley with a 2.13% weight; Matador Resources Co. with a 0.66% weight; MasTec, Inc. with a 0.65% weight; Micron Technology, Inc. with a 2.46% weight; Maxim Integrated Products, Inc. with a 1.85% weight; NOV, Inc. with a 1.04% weight; NXP Semiconductors NV with a 1.89% weight; ON Semiconductor Corp. with a 2.19% weight; Oshkosh Corp. with a 0.45% weight; Plug Power Inc. with a 4.39% weight; Power Integrations, Inc. with a 0.39% weight; Prudential Financial, Inc. with a 1.71% weight; PTC Inc. with a 1.50% weight; Quanta Services, Inc. with a 1.04% weight; Pioneer Natural Resources Co. with a 2.19% weight; Renewable Energy Group, Inc. with a 1.16% weight; Regions Financial Corp. with a 2.05% weight; Sunrun Inc. with a 1.50% weight; Solaredge Technologies, Inc. with a 1.47% weight; SVB Financial Group with a 2.03% weight; Schlumberger NV (Schlumberger Ltd.) with a 2.26% weight; Semtech Corp. with a 0.38% weight; SunPower Corp. with a 2.18% weight; Sensata Technologies Holding plc with a 0.67% weight; Steel Dynamics, Inc. with a 0.84% weight; STMicroelectronics NV with a 1.06% weight; Summit Materials, Inc. with a 0.37% weight; Skyworks Solutions, Inc. with a 1.73% weight; Uber Technologies, Inc. with a 2.21% weight; Unum Group with a 0.64% weight; United Rentals, Inc. with a 2.09% weight; Valvoline Inc. with a 0.52% weight; Westlake Chemical Corp. with a 0.38% weight; United States Steel Corp. with a 2.01% weight; and Zions Bancorp., NA with a 0.98% weight.

If the basket return is positive, the payout at maturity will be par plus 1.5 times the gain, subject to a maximum settlement amount of $1,204.45 per $1,000 of notes.

If the basket falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% index decline beyond 10%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered notes
Underlying basket:	Aecom (NYSE: ACM) with a 1.08% weight; Analog Devices, Inc. (Nasdaq: ADI) with a 1.84% weight; American International Group, Inc. (NYSE: AIG) with a 1.96% weight; Altair Engineering Inc. (Nasdaq: ALTR) with a 0.20% weight; Advanced Micro Devices, Inc. (Nasdaq: AMD) with a 1.50% weight; Ansys, Inc. (Nasdaq: ANSS) with a 1.65% weight; Bank of America Corp. (NYSE: BAC) with a 1.92% weight; Baker Hughes Co. (NYSE: BKR) with a 1.94% weight; Caterpillar Inc. (NYSE: CAT) with a 1.81% weight; Comerica Inc. (NYSE: CMA) with a 1.23% weight; Commercial Metals Co. (NYSE: CMC) with a 0.28% weight; Cummins Inc. (NYSE: CMI) with a 1.57% weight; Deere & Co. (NYSE: DE) with a 1.96% weight; Discover Financial Services (NYSE: DFS) with a 2.09% weight; Diodes Inc. (Nasdaq: DIOD) with a 0.26% weight; Dycom Industries, Inc. (NYSE: DY) with a 0.30% weight; Emcor Group, Inc. (NYSE: EME) with a 0.29% weight; Enphase Energy, Inc. (Nasdaq: ENPH) with a 2.45% weight; Element Solutions Inc. (NYSE: ESI) with a 0.32% weight; Freeport-McMoRan Inc. (NYSE: FCX) with a 3.11% weight; Fifth Third Bancorp (Nasdaq: FITB) with a 2.07% weight; Flex Ltd. (Nasdaq: FLEX) with a 0.63% weight; Halliburton Co. (NYSE: HAL) with a 2.23% weight; Hess Corp. (NYSE: HES) with a 2.35% weight; Hartford Financial Services Group, Inc. (NYSE: HIG) with a 1.68% weight; Helmerich & Payne, Inc. (NYSE: HP) with a 0.59% weight; Herc Holdings Inc. (NYSE: HRI) with a 0.12% weight; Jacobs Engineering Group, Inc. (NYSE: J) with a 1.04% weight; Jabil, Inc. (NYSE: JBL) with a 0.69% weight; KeyCorp (NYSE: KEY) with a 1.95% weight; Lincoln National Corp. (NYSE: LNC) with a 1.49% weight; Livent Corp. (NYSE: LTHM) with a 0.69% weight; Microchip Technology Inc. (Nasdaq: MCHP) with a 1.97% weight; MetLife, Inc. (NYSE: MET) with a 1.95% weight; Macquarie Infrastructure Corp. (NYSE: MIC) with a 0.29% weight; Monolithic Power Systems, Inc. (Nasdaq: MPWR) with a 1.43% weight; Morgan Stanley (NYSE: MS) with a 2.13% weight; Matador Resources Co. (NYSE: MTDR) with a 0.66% weight; MasTec, Inc. (NYSE: MTZ) with a 0.65% weight; Micron Technology, Inc. (Nasdaq: MU) with a 2.46% weight; Maxim Integrated Products, Inc. (Nasdaq: MXIM) with a 1.85% weight; NOV, Inc. (NYSE: NOV) with a 1.04% weight; NXP Semiconductors NV (Nasdaq: NXPI) with a 1.89% weight; ON Semiconductor Corp. (Nasdaq: ON) with a 2.19% weight; Oshkosh Corp. (NYSE: OSK) with a 0.45% weight; Plug Power Inc. (Nasdaq: PLUG) with a 4.39% weight; Power Integrations, Inc. (Nasdaq: POWI) with a 0.39% weight; Prudential Financial, Inc. (NYSE: PRU) with a 1.71% weight; PTC Inc. (Nasdaq: PTC) with a 1.50% weight; Quanta Services, Inc. (NYSE: PWR) with a 1.04% weight; Pioneer Natural Resources Co. (NYSE: PXD) with a 2.19% weight; Renewable Energy Group, Inc. (Nasdaq: REGI) with a 1.16% weight; Regions Financial Corp. (NYSE: RF) with a 2.05% weight; Sunrun Inc. (Nasdaq: RUN) with a 1.50% weight; Solaredge Technologies, Inc. (Nasdaq: SEDG) with a 1.47% weight; SVB Financial Group (Nasdaq: SIVB) with a 2.03% weight; Schlumberger NV (Schlumberger Ltd.) (NYSE: SLB) with a 2.26% weight; Semtech Corp. (Nasdaq: SMTC) with a 0.38% weight; SunPower Corp. (Nasdaq: SPWR) with a 2.18% weight; Sensata Technologies Holding plc (NYSE: ST) with a 0.67% weight; Steel Dynamics, Inc. (Nasdaq: STLD) with a 0.84% weight; STMicroelectronics NV (NYSE: STM) with a 1.06% weight; Summit Materials, Inc. (NYSE: SUM) with a 0.37% weight; Skyworks Solutions, Inc. (Nasdaq: SWKS) with a 1.73% weight; Uber Technologies, Inc. (NYSE: UBER) with a 2.21% weight; Unum Group (NYSE: UNM) with a 0.64% weight; United Rentals, Inc. (NYSE: URI) with a 2.09% weight; Valvoline Inc. (NYSE: VVV) with a 0.52% weight; Westlake Chemical Corp. (NYSE: WLK) with a 0.38% weight; United States Steel Corp. (NYSE: X) with a 2.01% weight; and Zions Bancorp., NA (Nasdaq: ZION) with a 0.98% weight
Amount:	$800,000
Maturity:	March 15, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any basket gain, capped at par plus 20.445%; par if basket falls by up to 10%; otherwise, 1.1111% loss for every 1% index decline beyond 10%
Initial prices:	$62.70 for Aecom, $149.54 for Analog, $48.44 for AIG, $60.63 for Altair, $81.05 for AMD, $316.88 for Ansys, $37.94 for BofA, $24.37 for Baker Hughes, $229.00 for Caterpillar, $71.10 for Comerica, $29.44 for Commercial Metals, $273.92 for Cummins, $369.49 for Deere, $102.27 for Discover, $83.47 for Diodes, $100.78 for Dycom, $115.30 for Emcor, $164.71 for Enphase, $20.78 for Element, $37.42 for Freeport-McMoRan, $39.09 for Fifth Third, $18.11 for Flex, $24.02 for Halliburton, $72.49 for Hess, $55.45 for Hartford, $32.41 for Helmerich, $99.57 for Herc, $126.46 for Jacobs, $48.41 for Jabil, $21.29 for KeyCorp, $62.80 for Lincoln, $19.37 for Livent, $147.45 for Microchip, $61.09 for MetLife, $32.40 for Macquarie, $331.00 for Monolithic, $84.34 for Morgan Stanley, $25.69 for Matador, $98.93 for Mastec, $87.77 for Micron, $87.98 for Maxim, $16.70 for NOV, $183.47 for NXP, $38.49 for ON, $115.94 for Oshkosh, $47.25 for Plug, $82.53 for Power, $93.87 for Prudential, $132.19 for PTC, $88.64 for Quanta, $165.63 for Pioneer, $80.55 for Renewable, $21.86 for Regions, $62.29 for Sunrun, $291.48 for Solaredge, $548.57 for SVB, $29.01 for Schlumberger, $68.97 for Semtech, $36.30 for SunPower, $62.83 for Sensata, $49.19 for Steel, $35.75 for STMicroelectronics, $30.35 for Summit, $172.31 for Skyworks, $60.35 for Uber, $29.04 for Unum, $317.86 for United Rentals, $26.71 for Valvoline, $94.64 for Westlake, $24.17 for U.S. Steel, $59.06 for Zions
Pricing date:	March 12
Settlement date:	March 19
Agent:	Goldman Sachs & Co. LLC
Fees:	1.65%
Cusip:	40057FKK9

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