New Issue: GS Finance sells $500,000 leveraged relative performance index notes

Chicago, Feb. 2 – GS Finance Corp. priced $500,000 of 0% leveraged relative performance index-linked notes due May 14, 2024 based on the relative performance of the Euro Stoxx 50 index and 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 relative performance will be the difference of the Euro Stoxx 50 performance minus the S&P 500 performance. Each index’s performance will be its final level divided by its initial level.

If the Euro Stoxx 50 performs better than the S&P, investors will receive par plus 1.5 times the relative performance, capped at par plus 15%.

Otherwise, investors will receive par.

Goldman Sach & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged buffered relative performance index-linked notes
Underlying indexes:	Euro Stoxx 50 index, S&P 500 index
Relative performance:	Difference of the Euro Stoxx 50 performance minus the S&P 500 performance; each index’s performance is its final level divided by its initial level
Amount:	$500,000
Maturity:	May 14, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If Euro Stoxx 50 performs better than S&P 500, par plus 1.5 times relative performance, capped at par plus 15%; otherwise, par
Initial levels:	4,119.17 for Stoxx, 4,323.09 for S&P
Pricing date:	May 9, 2023
Settlement date:	May 12, 2023
Underwriter:	Goldman Sachs & Co.
Fees:	1.25%
Cusip:	40057RU89

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