New Issue: GS Finance prices $1.49 million index-linked notes tied to Dow, S&P

By William Gullotti

Buffalo, N.Y., June 29 – GS Finance Corp. priced $1.49 million of 0% index-linked notes due June 26, 2025 linked to the least 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 notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each index is zero or positive, the payout at maturity will be par plus 1.5 times the return of the laggard index, capped at par plus 30%.

If the least performing index falls by up to 15%, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the laggard index beyond 15%.

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, Dow Jones industrial average
Amount:	$1.49 million
Maturity:	June 26, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.5 times the return of the laggard index, capped at par plus 30%; if any index falls but the final underlier level of each is greater than or equal to the 85% trigger buffer level, par; otherwise, lose 1% for every 1% decline of the laggard index beyond 15%
Initial levels:	4,348.33 for S&P, 33,727.43 for Dow
Trigger buffer levels:	85% of initial levels
Pricing date:	June 23
Settlement date:	June 28
Agent:	Goldman Sachs & Co. LLC
Fees:	0.45%
Cusip:	40057T6L3

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