New Issue: GS Finance prices $185,000 leveraged buffered notes on Russell 2000

By Kiku Steinfeld

Chicago, Oct. 11 – GS Finance Corp. priced $185,000 of 0% leveraged buffered index-linked notes due Sept. 29, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains the payout at maturity will be par plus 200% of the return of the index subject to a maximum return of par plus 30.25%. The payout will be par plus the absolute value of the index return if the index declines by no more than 10%. Investors will lose 1% for every 1% that the index declines beyond 10%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered index-linked notes
Underlying index:	Russell 2000 index
Amount:	$185,000
Maturity:	Sept. 29, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains par plus 200% of index return subject to a maximum return of par plus 30.25%; par plus the absolute value of the index return if index declines by up to 10%; otherwise 1% loss for every 1% that the index declines beyond 10%
Initial level:	1,734.923
Upside leverage:	200%
Cap:	30.25%
Buffer:	10%
Pricing date:	March 24, 2023
Settlement date:	March 29, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	2.75%
Cusip:	40057PXU1

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