New Issue: GS Finance sells $1.03 million index-linked notes on Russell, S&P

Chicago, May 5 – GS Finance Corp. priced $1.03 million of 0% index-linked notes due April 30, 2026 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 each index finishes at or above its initial level, the payout at maturity will be par plus the return of the worst performer.

If the worst performer declines but finishes above 85% of its initial level, the payout at maturity will be par plus the absolute value of that index.

Otherwise, investors will be exposed to the decline 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:	$1,028,000
Maturity:	April 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above buffer level, par plus return of worst performer; if any index falls but not more than 15%, investors will receive par plus the absolute value return of that index; otherwise, investors will be exposed to the decline of the worst performing index beyond the 15% buffer
Initial levels:	1,745.952 for Russell, 4,071.63 for S&P
Buffer levels:	85% of initial levels
Pricing date:	April 25
Settlement date:	April 28
Agent:	Goldman Sachs & Co. LLC
Fees:	3.21%
Cusip:	40057REA2

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