New Issue: GS Finance sells $2.48 million index-linked autocalls on S&P, Russell Value

By Wendy Van Sickle

Columbus, Ohio, Dec. 9 – GS Finance Corp. priced $2.48 million of 0% index-linked notes due Dec. 2, 2025 tied to the lesser performing of the S&P 500 index and the Russell 2000 Value 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 8% annualized premium if both indexes close at or above their initial levels on any annual call observation date.

The payout at maturity will be par plus 40% if each index finishes at or above its initial level. If either index falls but not below 65% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser performing index declines.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked autocallable notes
Underlying indexes:	S&P 500, Russell 2000 Value
Amount:	$2,477,000
Maturity:	Dec. 2, 2025
Coupon:	0%
Price:	Par of $1,000
Call:	At par plus 8% annualized premium if both indexes close at or above their initial levels on any annual call observation date
Payout at maturity:	Par plus 40% if each index finishes at or above its initial level; par if either index falls but not below 65% of its initial level; otherwise, 1% loss for every 1% decline of lesser performing index
Initial levels:	1,909.223	for Russell, 3,635.41 for S&P
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	Goldman Sachs & Co. LLC
Fees:	4.68%
Cusip:	40057ELX3

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