New Issue: GS prices $569,000 leveraged barrier notes linked to S&P

By Angela McDaniels

Tacoma, Wash., May 3 – GS Finance Corp. priced $569,000 of 0% market linked securities – leveraged upside participation and contingent downside due June 5, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.2 times the index return. The payout will be par if the index declines by up to 25%. Otherwise, investors will lose 1% for every 1% that the index declines.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter. Wells Fargo Securities, LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Market linked securities – leveraged upside participation and contingent downside
Underlying index:	S&P 500
Amount:	$569,000
Maturity:	June 5, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.2 times index return; par if index declines by up to 25%; otherwise, 1% loss for every 1% that index declines
Initial index level:	4,132.15
Threshold level:	75% of initial level
Pricing date:	May 31, 2022
Settlement date:	June 6, 2022
Underwriter:	Goldman Sachs & Co. LLC
Agent:	Wells Fargo Securities, LLC
Fees:	3.71%
Cusip:	40057LWQ0

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