New Issue: GS Finance sell $595,000 index-linked notes tied to S&P, Russell Value indexes

By Kiku Steinfeld

Chicago, July 26 – GS Finance Corp. priced $595,000 of 0% index-linked notes due Feb. 24, 2025 linked to the lesser performing of the S&P 500 Value 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.

If the return of both indexes is positive, the payout at maturity will be par plus 1.386 times any gain of the lesser performing index.

If either index falls by up to 30%, the payout will be par.

Otherwise, investors will be exposed to any loss of the lesser performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 Value index, Russell 2000 Value index
Amount:	$595,000
Maturity:	Feb. 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of both indexes is positive, the payout at maturity will be par plus 1.386 times any gain of the lesser performing index; if either index falls by up to 30%, par; otherwise, investors will be exposed to any loss of the lesser performing index
Initial index levels:	2,225.830 for Russell, 1,496.52 for S&P
Trigger levels:	70% of initial levels
Pricing date:	Feb. 21, 2023
Settlement date:	Feb. 24, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	1.125%
Cusip:	40057PRU8

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