New Issue: GS Finance sells $778,000 buffered basket-linked notes on 44 stocks

Chicago, Aug. 17 – GS Finance Corp. priced $778,000 of 0% buffered basket-linked notes due July 30, 2024 based on the performance of an unequally weighted basket of common stock, common shares or registered shares of 44 companies, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket stocks are Abiomed, Inc., Activision Blizzard, Inc., Align Technology, Inc., A. O. Smith Corp., Arista Networks, Inc., Atmos Energy Corp., BorgWarner Inc, Cincinnati Financial Corp., Copart, Inc., Costco Wholesale Corp., D.R. Horton, Inc., Duke Realty Corp., EOG Resources, Inc., Everest Re Group, Ltd., Evergy, Inc., Expeditors International Washington, Inc., Fortinet, Inc., Fox Corp., Freeport-McMoRan Inc., Garmin Ltd., Helmerich & Payne, Inc., Hormel Foods Corp., Incyte Corp., Intuitive Surgical, Inc., Jack Henry & Associates, Inc., Lennar Corp., Newmont Corp., News Corp., NOV Inc., Nu Skin Enterprises, Inc., Nucor Corp., Old Dominion Freight Line, Inc., Pilgrim's Pride Corp., Pinnacle West Capital Corp., Prologis, Inc., Public Storage, Regency Centers Corp., Skyworks Solutions, Inc, SVB Financial Group, Mosaic Co., Valero Energy Corp., Warner Bros. Discovery, Inc., WEC Energy Group, Inc. and Western Alliance Bancorp. Weightings are given in the table below.

If the basket return is positive, the payout at maturity will be par plus the gain, subject to a maximum settlement amount of $1,220 per $1,000 principal amount.

If the basket falls by up to 20%, the payout will be par. Investors will lose 1% for every 1% basket decline beyond 20%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered basket-linked notes
Underlying basket:	Abiomed, Inc. (Nasdaq: ABMD) with a 3.35% weight, Activision Blizzard, Inc. (Nasdaq: ATVI) with a 2.85% weight, Align Technology, Inc. (Nasdaq: ALGN) with a 3.35% weight, A. O. Smith Corp. (NYSE: AOS) with a 2% weight, Arista Networks, Inc. (NYSE: ANET) with a 6.98% weight, Atmos Energy Corp. (NYSE: ATO) with a 0.63% weight, BorgWarner Inc (NYSE: BWA) with a 3.04% weight, Cincinnati Financial Corp. (Nasdaq: CINF) with a 2.78% weight, Copart, Inc. (Nasdaq: CPRT) with a 2% weight, Costco Wholesale Corp. (Nasdaq: COST) with a 1.45% weight, D.R. Horton, Inc. (NYSE: DHI) with a 3.04% weight, Duke Realty Corp. (NYSE: DRE) with a 0.66% weight, EOG Resources, Inc. (NYSE: EOG) with a 0.64% weight, Everest Re Group, Ltd. (NYSE: RE) with a 2.78% weight, Evergy, Inc. (NYSE: EVRG) with a 0.63% weight, Expeditors International Washington, Inc. (Nasdaq: EXPD) with a 2% weight, Fortinet, Inc. (Nasdaq: FTNT) with a 6.98% weight, Fox Corp. (Nasdaq: FOXA) with a 2.85% weight, Freeport-McMoRan Inc. (NYSE: FCX) with a 0.63% weight, Garmin Ltd. (NYSE: GRMN) with a 3.04% weight, Helmerich & Payne, Inc. (NYSE: HP) with a 0.64% weight, Hormel Foods Corp. (NYSE: HRL) with a 1.45% weight, Incyte Corp. (Nasdaq: INCY) with a 3.35% weight, Intuitive Surgical, Inc. (Nasdaq: ISRG) with a 3.35% weight, Jack Henry & Associates, Inc. (Nasdaq: JKHY) with a 6.98% weight, Lennar Corp. (NYSE: LEN) with a 3.04% weight, Newmont Corp. (NYSE: NEM) with a 0.63% weight, News Corp. (Nasdaq: NWS) with a 2.85% weight, NOV Inc. (NYSE: NOV) with a 0.64% weight, Nu Skin Enterprises, Inc. (NYSE: NUS) with a 1.45% weight, Nucor Corp. (NYSE: NUE) with a 0.63% weight, Old Dominion Freight Line, Inc. (Nasdaq: ODFL) with a 2% weight, Pilgrim's Pride Corp. (Nasdaq: PPC) with a 1.45% weight, Pinnacle West Capital Corp. (NYSE: PNW) with a 0.63% weight, Prologis, Inc. (NYSE: PLD) with a 0.66% weight, Public Storage (NYSE: PSA) with a 0.66% weight, Regency Centers Corp. (Nasdaq: REG) with a 0.66% weight, Skyworks Solutions, Inc (Nasdaq: SWKS) with a 6.98% weight, SVB Financial Group (Nasdaq: SIVB ) with a 2.78% weight, Mosaic Co. (NYSE: MOS) with a 0.63% weight, Valero Energy Corp. (NYSE: VLO) with a 0.64% weight, Warner Bros. Discovery, Inc. (Nasdaq: WBD) with a 2.85% weight, WEC Energy Group, Inc. (NYSE: WEC) with a 0.63% weight, Western Alliance Bancorp. (NYSE: WAL) with a 2.78% weight
Amount:	$778,000
Maturity:	July 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain, capped at par plus 22%; par if basket falls by up to 20%; 1% loss for every 1% basket decline beyond 20%
Initial prices:	$280.44 for Abiomed, $79.65 for Activision, $252.07 for Align, $58.92 for A. O. Smith, $103.46 for Arista, $114.77 for Atmos, $36.66 for BorgWarner, $112.55 for Cincinnati, $120.85 for Copart, $529.14 for Costco, $75.36 for D.R. Horton, $60.03 for Duke, $105.48 for EOG, $273.81 for Everest, $64.95 for Evergy, $99.16 for Expeditors, $61.00 for Fortinet, $35.28 for Fox, $28.29 for Freeport-McMoRan, $104.08 for Garmin, $42.19 for Helmerich, $47.77 for Hormel, $80.62 for Incyte, $219.17 for Intuitive, $197.38 for Jack Henry, $81.61 for Lennar, $44.59 for Newmont, $17.12 for News$15.47 for NOV, $42.60 for Nu Skin, $122.24 for Nucor, $275.55 for Old Dominion, $32.37 for Pilgrim’s, $71.43 for Pinnacle, $127.51 for Prologis, $323.92 for Public Storage, $63.21 for Regency, $105.84 for Skyworks, $391.16 for SVB, $50.51 for Mosaic, $109.32 for Valero, $14.66 for Warner Bros., $98.96 for WEC, $76.06 for Western Alliance
Pricing date:	July 25, 2022
Settlement date:	July 28, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057MLR8

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