New Issue: GS Finance sells $484,000 index-linked notes on S&P, Dow

By Kiku Steinfeld

Chicago, Dec. 6 – GS Finance Corp. priced $484,000 of 0% index-linked notes due Nov. 27, 2026 tied to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the return of the worst performer if each index finishes at or above its initial level, up to 60%. If either index falls but not below 85% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines 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:	S&P 500 index and Dow Jones industrial average
Amount:	$484,000
Maturity:	Nov. 27, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus return of worst performing index if each index finishes at or above its initial level, up to 60%; par if either index falls but neither index finishes below 85% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 15% buffer
Initial levels:	4,690.70 for S&P 500, 35,813.80 for Dow
Buffer levels:	85% of initial levels
Pricing date:	Nov. 23
Settlement date:	Nov. 29
Agent:	Goldman Sachs & Co. LLC
Fees:	3.83%
Cusip:	40057JXJ0

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