New Issue: GS Finance sells $718,000 index-linked notes tied to S&P, Russell

Chicago, May 21 – GS Finance Corp. priced $718,000 of 0% index-linked notes due Nov. 3, 2020 linked to the lesser performing of 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.

If the final values of both indexes are greater than their initial values, the payout at maturity will be 1.2 times the return of the lesser performing index.

If either index finishes below its initial value but above 70% of its initial level, the payout will be par plus the absolute value of the lesser performing index.

Otherwise, investors will be fully exposed to the losses of the lesser performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$718,000
Maturity:	Nov. 3, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If both indexes finish above initial values, 1.2 times index return of lesser performing index; if lesser performing index finishes above 70% and below initial level, absolute value of that index, otherwise full exposure to losses
Initial levels:	2,945.83 for S&P and 1,591.211 for Russell
Trigger levels:	70% of initial levels
Pricing date:	April 30
Settlement date:	May 3
Underwriter:	Goldman Sachs & Co. LLC
Fees:	1.17%
Cusip:	40056FAS4

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