New Issue: GS Finance sells $915,000 contingent market-linked notes on Gold ETF

By Kiku Steinfeld

Chicago, May 30 – GS Finance Corp. priced $915,000 of 0% market-linked securities – contingent fixed return and contingent downside due Oct. 25, 2024 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes at or above its threshold level, 75% of the initial level, the payout at maturity will be par plus 23.25%.

Otherwise, investors will be exposed to the fund’s decline from its initial level.

The securities are guaranteed by Goldman Sachs Group, Inc.

Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Market-linked securities – contingent fixed return and contingent downside
Underlying:	VanEck Gold Miners ETF
Amount:	$915,000
Maturity:	Oct. 25, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If fund finishes at or above its threshold level, par plus 23.25%; otherwise, 1% loss for every 1% decline of fund from initial level
Initial level:	$32.42
Threshold level:	75% of initial level
Pricing date:	Jan. 20, 2023
Settlement date:	Jan. 25, 2023
Agents:	Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
Fees:	2.03%
Cusip:	40057PGD8

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