New Issue: GS Finance sells $723,000 index-linked notes on S&P, Russell

By Kiku Steinfeld

Chicago, March 5 – GS Finance Corp. priced $723,000 of 0% index-linked notes due Feb. 28, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the final level of each index is zero or positive, the payout at maturity will be par plus the return of the lesser performing index up to 30%.

If either index falls but the return of each index is at least negative 15%, the payout will be par plus absolute value of the lesser performing index return.

If either index falls by more than 15%, investors will be exposed to the decline of the lesser-performing index beyond 15%.

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, Russell 2000
Amount:	$723,000
Maturity:	Feb. 28, 2024
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the final level of each index is zero or positive, par plus return of the lesser performing index up to 30%; if either index falls but the return of each index is at least negative 15%, par plus absolute value of the lesser performing index return; if either index falls by more than 15%, investors will be exposed to the decline of the worse performing index beyond 15%
Initial index levels:	3,881.37 for S&P and 2,231.314 for Russell
Buffer levels:	85% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Agent:	Goldman, Sachs & Co. LLC
Fees:	3.25%
Cusip:	40057FC44

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