New Issue: GS Finance prices $343,000 notes linked to Russell 2000, S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 4 – GS Finance Corp. priced $343,000 of 0% index-linked notes due May 3, 2028 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of each index is greater than or equal to zero, the payout at maturity will be par plus 141% of the lesser performing index’s return.

If the return of either index is less than zero but the return of each index is greater than or equal to negative 40%, the payout will be par.

If the return of either index is less than negative 40%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$343,000
Maturity:	May 3, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is greater than or equal to zero, par plus 141% of lesser performing index’s return; if return of either index is less than zero but return of each index is greater than or equal to negative 40%, par; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
Initial levels:	1,768.987 for Russell and 4,169.48 for S&P
Barrier levels:	60% of initial levels
Pricing date:	April 28, 2023
Settlement date:	May 3, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.66%
Cusip:	40057REJ3

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