New Issue: GS Finance sells $1.63 million index-linked notes on three indexes

By Kiku Steinfeld

Chicago, Nov. 22 – GS Finance Corp. priced $1.63 million of 0% index-linked notes due Nov. 10, 2026 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones U.S. Select Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The payout at maturity will be par plus 1.6 times the return of the least-performing index if each index finishes at or above its initial level.

If any index declines but each index finishes at or above its trigger level, 70% of its initial level, the payout will be par.

If any index finishes below its trigger level, investors will lose 1% for every 1% that the least performing index declines from its initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 index, Nasdaq-100 index, Dow Jones U.S. Select Dividend index
Amount:	$1,625,000
Maturity:	Nov. 10, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.6 times return of least-performing index if each index finishes at or above its initial level; if any index finishes below its initial level but each index finishes at or above its trigger level, par; otherwise, 1% loss for every 1% decline of least performing index
Initial levels:	2,437.083 for Russell, 16,359.38 for Nasdaq-100, 860.56 for Dow
Trigger levels:	70% of initial levels
Pricing date:	Nov. 5
Settlement date:	Nov. 10
Agent:	Goldman Sachs & Co. LLC
Fees:	4.375%
Cusip:	40057K3L5

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