New Issue: GS Finance sells $1.57 million leveraged market-linked notes on S&P

By Kiku Steinfeld

Chicago, Sept. 19 – GS Finance Corp. priced $1.57 million of 0% market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside due Aug. 2, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% of any gain in the index up to a maximum of par plus 31.5%. If the index falls but not beyond 7.5%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline beyond 7.5%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC are the agents.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed-percentage buffered downside
Underlying index:	S&P 500 index
Amount:	$1,573,000
Maturity:	Aug. 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of any gain in the index up to a maximum of par plus 31.5%; par if index falls by up to 7.5%; otherwise, 1% loss for every 1% decline beyond 7.5%
Initial level:	4,431.85
Buffer level:	92.5% of initial level
Pricing date:	Jan. 28, 2022
Settlement date:	Feb. 2, 2022
Agents:	Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC
Fees:	2.475%
Cusip:	40057KN41

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