New Issue: GS Finance sells $13.93 million contingent income autocalls on Dow, Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, Sept. 16 – GS Finance Corp. LLC priced $13.93 million of contingent income autocallable securities due Sept. 16, 2025 linked to the least performing of the Dow Jones industrial average, 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.

Each quarter, the notes will pay a contingent coupon at the rate of 7.75% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the determination date for that quarter.

The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call determination date after six months.

The payout at maturity will be par any index finishes below its 65% downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.

Goldman Sachs & Co. is the underwriter. Morgan Stanley Wealth Management is a dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Contingent income autocallable securities
Underlying indexes:	Dow Jones industrial average, Russell 2000 index and S&P 500 index
Amount:	$13.93 million
Maturity:	Sept. 16, 2025
Coupon:	7.75% per year, payable quarterly if each index closes at or above barrier level on determination date for that quarter
Price:	Par
Payout at maturity:	Par unless any index finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
Call:	Automatically at par if each index closes at or above its initial level on any quarterly call determination date after six months
Initial levels:	1,497.21 for Russell, 3,340.97 for S&P, 27,665.64 for Dow
Coupon barriers:	1,197.8168 for Russell, 2,672.776 for S&P, 22,132.512 for Dow; 80% of initial levels
Barrier values:	973.22615 for Russell, 2,171.6305 for S&P, 17,982.666 for Dow; 65% of initial levels
Pricing date:	Sept. 11
Settlement date:	Sept. 16
Underwriter:	Goldman Sachs & Co.
Dealer:	Morgan Stanley Wealth Management
Fees:	3.35%
Cusip:	40057CVM0

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