New Issue: GS Finance sells $9.9 million index-linked notes on Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, March 24 – GS Finance Corp. priced $9.9 million of 0% index-linked notes due March 23, 2023 tied 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 each index finishes at or above its initial level, the payout will be par plus 1.1 times the return of the lesser performing index.

If either index declines by up to 25%, the payout will be par.

If either index declines by more than 25%, investors will lose 1% for every 1% decline of the lesser performing index beyond 25%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$9,904,000
Maturity:	March 23, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 1.1 times return of lesser performing index; if either index declines by up to 25%, par; if either index declines by more than 25%, 1% loss for every 1% decline of the lesser performing index beyond 25%
Initial levels:	1,013.889 for Russell, 2,304.92 for S&P
Barrier levels:	75% of initial levels
Pricing date:	March 20
Settlement date:	March 25
Agent:	Goldman Sachs & Co. LLC
Fees:	0.675%
Cusip:	40056YW34

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