New Issue: GS Finance prices $500,000 basket-linked notes on weighted index basket

By Kiku Steinfeld

Chicago, Oct. 16 – GS Finance Corp. priced $500,000 of 0% notes due March 30, 2028 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket consists of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index. The basket return will be based on the weighted performance of the two best performing indexes. The best performing index will carry a 70% weight, the next best performing index will carry a 30% weight and the least performing index will be weighted at zero.

If the weighted basket return is positive, the payout at maturity will be par plus the weighted gain, capped at $2,280.

If the weighted basket return is negative, investors will be fully exposed to the decline of the weighted basket.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Basket-linked notes
Underlying indexes:	MSCI EAFE, Russell 2000, S&P 500; best performing index weighted at 70%, second best performing index weighted at 30%
Amount:	$500,000
Maturity:	March 30, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If weighted return is positive, par plus weighted basket gain, capped at $2,280; if weighted return is negative, investors will be fully exposed to the decline of weighted basket
Initial levels:	1,753.673 for Russell, 3,977.53 for S&P, 2,031.36 for MSCI EAFE
Pricing date:	March 27, 2023
Settlement date:	March 30, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057RAM0

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