New Issue: GS Finance sells $538,000 index-linked notes on Dow, Russell, Nasdaq

Chicago, May 31 – GS Finance Corp. priced $538,000 of 0% index-linked notes due May 16, 2024 tied to the lesser performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus the return of the least performing index, capped at par plus 75%.

If the worst performer declines but finishes at or above 80% of its initial level, the payout will be par plus half the absolute return of the worst performer.

If any index falls by more than 20%, investors will be exposed to the decline of the worst performing index beyond the buffer.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
Amount:	$538,000
Maturity:	May 16, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain of the least performing index, capped at par plus 75%; if worst performer finishes at or above buffer level, par plus half absolute return of worst performer; otherwise, investors will be exposed to the decline of the worst performing index beyond the buffer
Initial index levels:	16,199.88 for Nasdaq, 36,100.31 for Dow, 2,411.776 for Russell
Buffer levels:	80% of initial levels
Pricing date:	Nov. 12, 2021
Settlement date:	Nov. 17, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057K2P7

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