New Issue: GS Finance sells $2.56 million index-linked notes on S&P, Russell

By Kiku Steinfeld

Chicago, Nov. 15 – GS Finance Corp. priced $2.56 million of 0% index-linked notes due Nov. 3, 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 return of each index is zero or positive, the payout at maturity will be par plus the return of the lesser performing index.

If either index falls but the return of each index is at least negative 24%, the payout will be par.

If either index falls by more than 24%, investors will be exposed to the decline of the lesser-performing index beyond 24%.

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:	$2,559,000
Maturity:	Nov. 3, 2026
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the return of each index is zero or positive, par plus return of the lesser performing index; if either index falls but the return of each index is at least negative 24%, par; if either index falls by more than 24%, investors will be exposed to the decline of the worse performing index beyond 24%
Initial index levels:	3,811.15 for S&P, 2,201.051 for Russell
Buffer levels:	76% of initial levels
Pricing date:	Oct. 29
Settlement date:	Nov. 3
Underwriter:	Goldman, Sachs & Co. LLC
Fees:	1.05%
Cusip:	40057JPP5

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