New Issue: GS Finance sells $766,000 index-linked notes on S&P, Dow

Chicago, Aug. 18 – GS Finance Corp. priced $766,000 of 0% index-linked notes due Feb. 1, 2024 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 the return of the laggard index,.

If the least performing index falls by up to 14%, the payout will be par.

Otherwise, investors will lose 1% for every 1% that the laggard index declines beyond 14%.

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:	$766,000
Maturity:	Feb. 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus the return of the laggard index; if any index falls but the final underlier level of each is greater than or equal to the 86% buffer level, par; otherwise, lose 1% for every 1% decline of laggard index beyond 14%
Initial levels:	4,130.29 for S&P, 32,845.13 for Dow
Buffer levels:	86% of initial levels
Pricing date:	July 29, 2022
Settlement date:	Aug. 3, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	None
Cusip:	40057MPC7

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