New Issue: GS Finance sells $3.67 million autocallable index-linked notes on S&P, Russell

Chicago, March 22 – GS Finance Corp. priced $3.67 million of 0% autocallable index-linked notes due Feb. 5, 2025 tied to the lesser performing of 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.

The notes will be automatically called at par plus an annualized premium of 11.1% if each index closes at or above its initial level on any of three annual call dates.

If both indexes finish above their initial levels, the payout at maturity will be par plus 44.4%, the maturity date premium. The payout will be par if the lesser performing index falls by up to 30%. Otherwise, investors will lose 1% for every 1% that the lesser performing index declines.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable index-linked notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$3,674,000
Maturity:	Feb. 5, 2025
Coupon:	0%
Price:	Par
Call:	At par plus 11.1% annualized premium if both indexes close at or above initial levels on any of three annual call dates
Payout at maturity:	If both indexes finish above initial levels, par plus 44.4% maturity date premium; par if lesser performing index falls by up to 30%; otherwise, 1% loss for every 1% decline of lesser performing index
Initial levels:	3,714.24 for S&P, 2,073.641 for Russell
Trigger levels:	70% of initial levels
Pricing date:	Jan. 29
Settlement date:	Feb. 3
Agent:	Goldman Sachs & Co. LLC
Fees:	0.3%
Cusip:	40057FAB0

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