New Issue: GS Finance sells $316,000 index-linked notes on Russell, S&P

By Kiku Steinfeld

Chicago, Dec. 5 – GS Finance Corp. priced $316,000 of 0% index-linked notes due Jan. 3, 2025 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 double the return of the laggard index’s return, capped at par plus 30%.

If the least performing index falls by up to 15%, the payout will be par.

Otherwise, investors will be exposed to any losses of the worst performing index 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:	$316,000
Maturity:	Jan. 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus double the return of the laggard index capped at par plus 30%; if any index falls but the final underlier level of each is greater than or equal to the 85% buffer level, par; if any index falls by more than 15% investors will be exposed to the decline of the worst performing index beyond the buffer
Initial levels:	2,078.060 for Russell, 4,575.52 for S&P
Buffer levels:	85% of initial levels
Pricing date:	March 28
Settlement date:	March 31
Agent:	Goldman Sachs & Co. LLC
Fees:	2.86%
Cusip:	40057LD81

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