New Issue: GS Finance sells $3.28 million index-linked notes on Dow, S&P

By Taylor Fox

New York, Jan. 19 – GS Finance Corp. priced $3.28 million of 0% index-linked notes due Dec. 29, 2025 tied to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus the return of the lesser performing index return up to $1,600 per $1,000 face amount of notes.

If the worst performer finishes above 85% of its initial level, the payout will be par.

If either index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer.

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:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, S&P 500
Amount:	$3,275,000
Maturity:	Dec. 29, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus the lesser performing index return, up to $1,600 per $1,000 face amount of notes; if worst performer finishes above 85% of initial level, par; if either index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer
Initial index levels:	30,129.83 for Dow and 3,690.01 for S&P
Trigger buffer levels:	85% of initial levels
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agent:	Goldman Sachs & Co. LLC
Fees:	4.06%
Cusip:	40057ERK5

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