New Issue: GS Finance sells $543,000 leveraged notes tied to MSCI EM, S&P/ASX 200

By Kiku Steinfeld

Chicago, Nov. 18 – GS Finance Corp. priced $543,000 of 0% index-linked notes due Aug. 4, 2026 linked to the lesser performing of the MSCI Emerging Markets index and the S&P/ASX 200 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each index is zero or positive, the payout at maturity will be par plus 3 times the return of the least-performing index.

If the least-performing index falls by up to 30%, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worst performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	MSCI Emerging Markets index, S&P/ASX 200 index
Amount:	$543,000
Maturity:	Aug. 4, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is flat or positive, par plus 3 times the return of least-performing index; if any index falls but the final underlier level of each is greater than or equal to the trigger buffer level, par; if any index falls by more than trigger buffer level, investors will be fully exposed to the decline of the worst performing index
Initial levels:	1,277.81 for MSCI, 7,392.624 for S&P/ASX
Trigger buffer levels:	70% of initial levels
Pricing date:	July 30
Settlement date:	Aug. 4
Agent:	Goldman Sachs & Co. LLC
Fees:	0.8%
Cusip:	40057HZW3

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