New Issue: GS Finance sells $3.32 million index-linked notes on Russell, S&P

By William Gullotti

Buffalo, N.Y., April 4 – GS Finance Corp. priced $3.32 million of 0% index-linked notes due May 5, 2026 linked 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.

If the return of each index is zero or positive, the payout at maturity will be par plus the return of the least performing index.

If the least performing index falls by up to 25%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the worst performing index beyond the 25% 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:	$3,322,000
Maturity:	May 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus the return of least performing index; if any index falls but the final underlier level of each is greater than or equal to the 75% buffer level, par; if any index falls by more than 25%, investors will be exposed to the decline of the worst performing index beyond the buffer
Initial levels:	2,266.449 for Russell, 4,181.17 for S&P
Buffer levels:	75% of initial levels
Pricing date:	April 30, 2021
Settlement date:	May 5, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	1.03%
Cusip:	40057FVF8

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