New Issue: GS Finance sells $514,000 index-linked notes on Russell, Nasdaq

Chicago, May 25 – GS Finance Corp. priced $514,000 of 0% index-linked notes due May 2, 2024 linked to the least performing of the Russell 2000 index and the Nasdaq-100 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 laggard index, capped at $1,265 per $1,000 note.

If the least performing index falls by up to 15%, the payout will be par plus the absolute value of the lesser performing index return.

Otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%.

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
Amount:	$514,000
Maturity:	May 2, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus the return of the laggard index; if any index falls but the final underlier level of each is greater than or equal to the 85% buffer level, par plus absolute value of the lesser performing index return; otherwise, investors will be exposed to the decline of the worst performer below buffer level
Initial levels:	2,297.979 for Russell, 15,778.16 for Nasdaq
Buffer levels:	85% of initial levels
Pricing date:	Oct. 28, 2021
Settlement date:	Nov. 2, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	2.75%
Cusip:	40057JVU7

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