New Issue: GS Finance sells $530,000 underlier-linked notes on indexes, fund

Chicago, May 17 – GS Finance Corp. priced $530,000 of 0% underlier-linked notes due June 25, 2027 linked to the lesser performing of the Russell 2000 index, the Dow Jones industrial average and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each underlier is greater than its initial level, the payout at maturity will be par plus 1.74 times the return of the worst performer.

If the worst performer declines but not more than 40%, the payout will be par.

If the worst-performing underlier falls by more than 40%, investors will be exposed to the decline of the worst performer from its initial level.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Underlier-linked notes
Underlying assets:	Russell 2000 index, Dow Jones industrial average and Technology Select Sector SPDR fund
Amount:	$530,000
Maturity:	June 25, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of worst performer is above the initial level, par plus return of worst performer; par if worst performer declines but not more than 40%; otherwise, full exposure to loss of worst performer
Initial levels:	30,483.13 for Dow, 1,690.277 for Russell, $126.92 for fund
Trigger buffer levels:	60% of initial levels
Pricing date:	June 22, 2022
Settlement date:	June 27, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	1.125%
Cusip:	40057MGL7

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