New Issue: GS Finance sells $1.14 million index-linked notes on Russell Value, S&P 500

By William Gullotti

Buffalo, N.Y., July 19 – GS Finance Corp. priced $1.14 million of 0% index-linked notes due June 1, 2026 linked to the least performing of the Russell 2000 Value 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.

If the return of each index is zero or positive, the payout at maturity will be par plus 1.39 times the return of the least performing index.

If the least performing index falls by up to 25%, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the worst performing index from its initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 Value index, S&P 500 index
Amount:	$1.14 million
Maturity:	June 1, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.39 times the return of least performing index; if any index falls but the final underlier level of each is greater than or equal to the 75% trigger buffer level, par; if any index falls by more than 25%, investors will lose 1% for every 1% decline of the worst performing index from its initial level
Initial levels:	2,506.941 for Russell Value, 4,200.88 for S&P
Trigger buffer levels:	75% of initial levels
Pricing date:	May 27
Settlement date:	June 2
Agent:	Goldman Sachs & Co. LLC
Fees:	4.1%
Cusip:	40057HD72

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