New Issue: GS Finance prices $423,000 index-linked notes on S&P, Russell

Chicago, Feb. 13 – GS Finance Corp. priced $423,000 of 0% index-linked notes due Jan. 31, 2025 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the lesser performing index finishes at or above its initial level, the payout at maturity will be par plus the return of that index, capped at par plus 22%.

If any index finishes below its initial level but no index closes below 10%, the payout will be par plus the absolute value of the index return.

Otherwise, investors will be exposed to the losses of the worst performer beyond the 10% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$423,000
Maturity:	Jan. 31, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus return of worst performing index if both indexes finish positive, capped at par plus 22%; par plus absolute value of worst performing return if both indexes finish above buffer level; otherwise, 1% loss for each 1% decline of worst performer beyond 10% buffer
Initial index levels:	4,783.35 for S&P, 2,058.335 for Russell
Buffer levels:	90% of initial levels
Pricing date:	Dec. 28, 2023
Settlement date:	Jan. 3, 2024
Agent:	Goldman Sachs & Co. LLC
Fees:	0.725%
Cusip:	40057XDV4

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