New Issue: GS Finance sells $935,000 index-linked notes on Nasdaq, S&P

Chicago, March 18 – GS Finance Corp. priced $935,000 of 0% index-linked notes due Sept. 4, 2026 linked to the least performing of the Nasdaq-100 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.

If the return of each index is zero or positive, the payout at maturity will be par plus the return of the laggard index, capped at par plus 26%.

Investors will receive par plus the absolute value of the lesser performer if the worst performer declines but finishes above the 80% buffer level.

Otherwise, investors will lose 1% loss for each 1% decline beyond the 20% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Nasdaq-100 index, S&P 500 index
Amount:	$935,000
Maturity:	Sept. 4, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus return of laggard index, capped at par plus 26%; par plus absolute value of return of worst performer if laggard index declines but finishes above buffer level; otherwise, 1% loss for each 1% decline beyond buffer
Initial levels:	18,302.91 for Nasdaq, 5,137.08 for S&P
Buffer levels:	80% of initial levels
Pricing date:	March 1
Settlement date:	March 6
Agent:	Goldman Sachs & Co. LLC
Fees:	2.75%
Cusip:	40057YH71

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