New Issue: GS Finance sells $1 million index-linked notes on S&P, Russell, Dow

Chicago, March 29 – GS Finance Corp. priced $1 million of 0% index-linked notes due Sept. 4, 2026 linked to the least performing of the Dow Jones industrial average, 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 return of each index is zero or positive, the payout at maturity will be par plus 1.4 times of the return of the least performing index.

If any index falls but the return of each index is at least negative 20%, the payout will be par.

If any index falls by more than 20%, investors will lose 1% for each 1% decline of the worst performing index beyond 20%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, S&P 500 index, Russell 2000 index
Amount:	$1,000,000
Maturity:	Sept. 4, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.4 times the return of the least performing index; if any index falls but the return of each index is at least negative 20%, par; if any index falls by more than 20%, investors will lose 1% for each 1% decline of the worst performing index beyond 20%
Initial levels:	31,535.51 for Dow, 3,901.82 for S&P 500, 2,275.321 for Russell
Buffer levels:	80% of initial levels
Pricing date:	March 1
Settlement date:	March 4
Agent:	Goldman Sachs & Co. LLC
Fees:	0.6%
Cusip:	40057FPH1

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