New Issue: GS Finance sells $404,000 index-linked notes on S&P, Russell

By Kiku Steinfeld

Chicago, Feb. 22 – GS Finance Corp. priced $404,000 of 0% index-linked notes due March 12, 2024 tied to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

At maturity, investors will receive par plus the return of the worst performer if both indexes finish above their initial levels, subject to a maximum return of $1,600 per each $1,000 note.

The payout will be par plus the absolute value of the return of the worst performer if either index finishes below its initial level, but both indexes finish above 85% of their initial levels.

Otherwise, investors will be exposed to the losses of the worst performer beyond the 15% buffer.

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, S&P 500 index
Amount:	$404,000
Maturity:	March 12, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the return of worst performer if both indexes finish above initial levels, capped at $1,600 per $1,000 note; par plus absolute return of worst performer if it finishes below initial level but above buffer level; otherwise, exposure to losses of worst performer beyond buffer
Initial levels:	4,520.03 for S&P, 2,275.611 for Russell
Buffer levels:	85% of initial levels
Pricing date:	Sept. 7
Settlement date:	Sept. 10
Agent:	Goldman Sachs & Co. LLC
Fees:	1%
Cusip:	40057JDM5

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