New Issue: GS Finance sells $675,000 index-linked notes on Dow, S&P

By Kiku Steinfeld

Chicago, Nov. 21 – GS Finance Corp. priced $675,000 of 0% index-linked notes due March 25, 2024 tied to the Dow Jones industrial average 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 worse-performing index gains, the payout will be par plus 1.5 times its return, capped at 31%.

If either index falls by up to 10%, the payout will be par.

Otherwise, investors will lose 1% for every 1% that the worse-performing index falls beyond 10%.

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 and S&P 500
Amount:	$675,000
Maturity:	March 25, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If worse-performing index gains, par plus 1.5 times its return, capped at 31%; if either index falls by up to 10%, par; otherwise, exposure to decline of worse-performing index beyond 10%
Initial levels:	34,754.93 for Dow, 4,463.12 for S&P
Buffer levels:	90% of initial levels
Pricing date:	March 18
Settlement date:	March 23
Agent:	Goldman Sachs & Co. LLC
Fees:	0%
Cusip:	40057LAS0

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