New Issue: GS Finance prices $4.8 million buffered digital index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, March 18 – GS Finance Corp. priced $4.8 million of 0% buffered digital index-linked notes due Aug. 5, 2024 linked 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.

If the index finishes at or above its 93% threshold level, the payout at maturity will be par plus 7.1%.

If the index declines below its threshold level but finishes at or above its buffer value, 80% of its initial level, the payout will be par plus the absolute return of the index. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$4,801,000
Maturity:	Aug. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above its 93% threshold level, par plus 7.1%; if index declines below its threshold level but the final level is greater than or equal to 80% of its initial level, par plus the absolute return of the index; if the index falls by more than 20%, 1% loss for every 1% decline beyond 20%
Initial index level:	4,450.38
Threshold level:	93% of initial level
Buffer level:	80% of initial level
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.43%
Cusip:	40057T7F5

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