New Issue: GS Finance sells $2.62 million notes linked to Nasdaq, Dow, Russell

By Kiku Steinfeld

Chicago, May 18 – GS Finance Corp. priced $2.62 million of 0% index-linked notes due April 30, 2026 tied to the Nasdaq-100 index, the Dow Jones industrial average 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 each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the least-performing index’s return and 25%.

If any index declines but no index declines by more than 30%, the payout at maturity will be par plus the absolute value of the least-performing index’s return.

If any index falls by more than 30%, investors will be exposed to the losses of the least-performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Nasdaq-100, Dow Jones industrial average, Russell 2000
Amount:	$2,619,000
Maturity:	April 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above initial level, par plus greater of least-performing index’s return and 25%; if any index falls but no index declines by more than 30%, par plus absolute value of return of least-performing index; otherwise, full exposure to losses of least-performing index
Initial index levels:	33,984.93 for Dow, 13,960.28 Nasdaq and 2,301.267 for Russell
Trigger buffer levels:	70% of initial levels
Pricing date:	April 27
Settlement date:	April 30
Agent:	Goldman Sachs & Co. LLC
Fees:	4.02%
Cusip:	40057FUS1

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