New Issue: GS Finance sells $7.22 million trigger Gears on S&P, Russell

By Kiku Steinfeld

Chicago, May 19 – GS Finance Corp. priced $7.22 million of 0% trigger Gears due April 30, 2026 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 index return is positive, the payout at maturity will be par plus 1.335 times the least performing index gain.

If the least performing index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to the least performing index decline.

Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Trigger gears
Underlying indexes:	S&P 500 index and the Russell 2000 index
Amount:	$7,216,000
Maturity:	April 30, 2026
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.335 times the least performing index gain; par if least performing index finishes flat or falls by up to 25%; otherwise, fully exposure to least performing index decline
Initial index level:	4,186.72 for S&P, 2,301.267 for Russell
Downside threshold levels:	3,140.040 for S&P, 1,725.950 for Russell; 75% of initial levels
Pricing date:	April 27
Settlement date:	April 30
Underwriter:	Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
Fees:	3.5%
Cusip:	36260W496

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