New Issue: GS Finance sells $924,000 index-linked notes on Russell, S&P

By Kiku Steinfeld

Chicago, April 26 – GS Finance Corp. priced $924,000 of 0% index-linked notes due Dec. 27, 2024 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 1.01 times the return of the laggard index.

If the least performing index falls by up to 25%, the payout will be par plus the absolute value of the lesser performing index return.

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, S&P 500 index
Amount:	$924,000
Maturity:	Dec. 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.01 times the return of the laggard index; if any index falls but the final underlier level of each is greater than or equal to the trigger buffer level, par plus the absolute value of the lesser performing index return; if any index falls by more than 25%, investors will be fully exposed to the decline of the worst performing index from its initial level
Initial levels:	1,754.086 for Russell, 3,822.39 for S&P
Trigger buffer levels:	75% of initial levels
Pricing date:	Dec. 22, 2022
Settlement date:	Dec. 28, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	0.8%
Cusip:	40057P4L3

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