New Issue: GS Finance sells $465,000 index-linked notes on Russell, S&P, Dow

Chicago, Feb. 28 – GS Finance Corp. priced $465,000 of 0% index-linked notes due May 15, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 1.53 times the return of the worst performer.

If the least performing index falls by up to 5%, the payout will be par.

Otherwise, investors will be exposed to any losses of the worst performing index beyond the 5% 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, Dow Jones industrial average
Amount:	$465,000
Maturity:	May 15, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.5 times return of worst performer; if any index falls but the final underlier level of each is greater than or equal to the 95% buffer level, par; if any index falls by more than 5%, investors will be exposed to the decline of the worst performing index beyond the 5% buffer
Initial levels:	1,718.144 for Russell, 3,935.18 for S&P, 31,834.11 for Dow
Buffer levels:	95% of initial levels
Pricing date:	May 11, 2022
Settlement date:	May 16, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	1.2%
Cusip:	40057LYQ8

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