New Issue: GS Finance sells $2.71 million digital notes linked to S&P 500

By Kiku Steinfeld

Chicago, May 20 – GS Finance Corp. priced $2.71 million of 0% digital notes due Oct. 31, 2022 linked to 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.

If the final level of the index is equal to or greater than 80% of the initial level, the payout at maturity will be par plus 4.88%.

Otherwise, investors will lose 1.25% for every 1% index decline beyond 20%.

Goldman Sachs & Co. LLC is the underwriter with J.P. Morgan Securities LLC acting as the placement agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Digital notes
Underlying index:	S&P 500
Amount:	$2,714,000
Maturity:	Oct. 31, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the final level of the index is equal to or greater than 80% of the initial level, par plus 4.88%; otherwise, 1.25% loss for every 1% index decline beyond 20%
Initial index level:	4,186.72
Pricing date:	April 27
Settlement date:	April 30
Underwriter:	Goldman Sachs & Co. LLC with J.P. Morgan Securities LLC as placement agent
Fees:	1.25%
Cusip:	40057FW42

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