New Issue: GS Finance sells $4.75 million index-linked notes on Dow, S&P

By Wendy Van Sickle

Columbus, Ohio, July 25 – GS Finance Corp. priced $4.75 million of 0% index-linked notes due July 24, 2025 tied to 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 each index finishes at or above its initial level, the payout will be par plus 1.0363 times the return of the lesser performing index.

If either index declines by up to 15%, the payout will be par.

Otherwise, investors will be exposed to the losses of the worst performing 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, Dow Jones industrial average
Amount:	$4,747,000
Maturity:	July 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above its initial level, par plus 1.0363 times the return of the lesser performing index; if either index declines by up to 15%, par; otherwise, investors will be exposed to the losses of the worst performing index beyond 15%
Initial index levels:	35,225.18 for Dow, 4,534.87 for S&P
Buffer levels:	85% of initial levels
Pricing date:	July 20
Settlement date:	July 25
Agent:	Goldman Sachs & Co. LLC
Fees:	0.15%
Cusip:	40057TCP7

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