New Issue: GS Finance sells $1.17 million index-linked notes on Russell, S&P

By Kiku Steinfeld

Chicago, April 29 – GS Finance Corp. priced $1.17 million of 0% index-linked notes due Sept. 6, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 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 each index is zero or positive, the payout at maturity will be par plus the return of the least performing index, capped at 33%.

If the least performing index falls by up to 10%, the payout will be par plus the absolute value of the worst performer’s return.

Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 10%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$1,166,000
Maturity:	Sept. 6, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain in least performing index, capped at 33%; if any index falls but not below buffer level, par plus the absolute return of the worst performer; if any index falls by more than 10%, investors will lose 1% for each 1% decline of the worst performer beyond 10%
Initial levels:	2,003.177 for Russell, 4,588.96 for S&P
Buffer levels:	90% of initial levels
Pricing date:	July 31, 2023
Settlement date:	Aug. 3, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057TJE5

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