New Issue: GS Finance sells $2 million index-linked notes on S&P, Dow, Stoxx

By Kiku Steinfeld

Chicago, Nov. 18 – GS Finance Corp. priced $2 million of 0% index-linked notes due Nov. 4, 2026 tied to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The payout at maturity will be par plus 2.24 times the least performing index return if each index finishes at or above its initial level. If any index falls but not below 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond 20%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Euro Stoxx 50 index, S&P 500 index, Dow Jones industrial average
Amount:	$2 million
Maturity:	Nov. 4, 2026
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 2.24 times least performing index return if each index finishes at or above its initial level; par if any index falls but not below 80% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond buffer
Initial levels:	2,958.21 for Stoxx, 26,501.60 for Dow, 3,269.96 for S&P
Buffer levels:	80% of initial levels
Pricing date:	Oct. 30
Settlement date:	Nov. 4
Agent:	Goldman Sachs & Co. LLC
Fees:	0.625%
Cusip:	40057EMC8

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