New Issue: GS Finance sells $690,000 callable contingent coupon notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, March 15 – GS Finance Corp. priced $690,000 of callable contingent coupon notes due March 16, 2028 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

Each month, the notes pay a contingent coupon at an annual rate of 7.25% if each index closes at or above 70% of its initial level on the related observation date.

The notes will be callable at par on any observation date after one year.

The payout at maturity will be par plus the final coupon, if any, unless either index closes below 50% of initial level, in which case investors will be fully exposed to the decline of the lesser performing index.

Goldman Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Callable contingent coupon notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$690,000
Maturity:	March 16, 2028
Coupon:	7.25%, payable each month that each index closes at or above 70% of initial level on related observation date
Price:	Par
Payout at maturity:	Par plus final coupon, if any, unless either index closes below 50% trigger level, in which case full exposure to less of lesser performing index
Call option:	At par on any observation date after one year
Initial index levels:	2,765.31 for S&P and 1,592.052 for Russell
Pricing date:	March 13
Settlement date:	March 16
Underwriter:	Goldman Sachs & Co.
Fees:	4.95%
Cusip:	40055ANR4

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