New Issue: GS Finance sells $392,000 autocallable index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, Oct. 31 – GS Finance Corp. priced $392,000 of 0% autocallable index-linked notes due April 7, 2026 tied to 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.

The notes will be called at par plus a 6.75% call premium if the index closes at or above its initial level on April 1, 2024.

If the notes are not called and the index finishes flat or positive, the payout at maturity will be par plus the return of the index.

If the index declines by up to 35%, the payout will be par; otherwise, investors will be exposed to the decline of the index beyond the 35% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable index-linked notes
Underlying index:	S&P 500 index
Amount:	$392,000
Maturity:	April 7, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above its initial level, par plus return of index; if the index declines by up to 35%, par; otherwise, exposure to the decline of the index beyond 35% buffer
Call:	At par plus a 6.75% call premium if index closes at or above initial level on April 1, 2024
Initial level:	4,109.31
Buffer level:	65% of initial level
Pricing date:	March 31, 2023
Settlement date:	April 5, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	0.75%
Cusip:	40057PUA8

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