New Issue: GS Finance sells $527,000 index-linked notes on Dow, S&P

Chicago, May 19 – GS Finance Corp. priced $527,000 of 0% index-linked notes due Oct. 29, 2026 tied to the lesser performing of 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 gain of the lesser performer, capped at par plus 50%.

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

If any index falls by more than 15%, investors will be exposed to the loss of the worst performer 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 index
Amount:	$527,000
Maturity:	Oct. 29, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the notes are not called and each index finishes at or above its initial level, par plus the gain of the worst performer, capped at par plus 50%; if worst performer finishes above buffer level, par; if any index falls by more than buffer, exposure to loss of worst performer beyond buffer
Initial index levels:	35,756.88 for Dow, 4,574.79 for S&P
Buffer levels:	85% of initial levels
Pricing date:	Oct. 26, 2021
Settlement date:	Oct. 29, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	3.8%
Cusip:	40057JPB6

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