New Issue: GS Finance sells $500,000 index-linked notes on Russell, Nasdaq

Chicago, Feb. 27 – GS Finance Corp. priced $500,000 of 0% index-linked notes due May 15, 2025 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 1.4 times the return of the least performing index.

If the least performing index falls by up to 30%, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worst performing index from its initial level.

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:	$500,000
Maturity:	May 15, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.4 times the lesser performing index return; if any index falls but the final underlier level of each is greater than or equal to the 70% trigger buffer level, par; otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level
Initial levels:	1,761.789 for Russell, 12,345.86 for Nasdaq
Trigger buffer levels:	70% of initial levels
Pricing date:	May 10, 2022
Settlement date:	May 13, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	0.6%
Cusip:	40057M2C2

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