New Issue: GS Finance sells $9.11 million basket-linked notes tied to 49 stocks

By Marisa Wong

Los Angeles, April 29 – GS Finance Corp. priced $9.11 million of 0% basket-linked notes due Oct. 2, 2023 based on the performance of an unequally weighted basket of common stock, common shares or ordinary shares of 49 companies, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket stocks are 3M Co., Allscripts Healthcare Solutions, Inc., Amn Healthcare Services, Inc., Automatic Data Processing, Inc., Badger Meter, Inc., Best Buy Co., Inc., Boise Cascade Co., Bunge Ltd., Cadence Design Systems, Inc., CBRE Group, Inc., Clean Energy Fuels Corp., Cree, Inc., Deckers Outdoor Corp., Ecolab Inc., Encompass Health Corp., Expeditors International Washington, Inc., Fulgent Genetics, Inc., Gap, Inc., Genetherm Inc., Helen of Troy Ltd., Hess Corp., Huntington Bancshares Inc., Inari Medical, Inc., Ingredion Inc., Johnson Controls International plc, KAR Auction Services, Inc., Kellogg Co., Keysight Technologies, Inc., LAM Research Corp., Mercury Systems, Inc., Microsoft Corp., Molson Coors Beverage Co., Morgan Stanley, National Instruments Corp., Nextera Energy, Inc., Nvidia Corp., PVH Corp., Regions Financial Corp., Ryder System, Inc., Teradata Corp., Terminix Global Holdings, Inc., Texas Instruments Inc., Trane Technologies, Trinseo SA, West Pharmaceutical Services, Inc., Weyerhaeuser Co., Workhorse Group Inc., W.W. Grainger, Inc. and Xylem Inc. Weightings are given in the table below.

If the basket return is positive, the payout at maturity will be par plus the gain, subject to a maximum settlement amount of $1,240 per $1,000 principal amount.

If the basket falls by up to 20%, the payout will be par. Otherwise, investors will be fully exposed to any basket decline below the initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Notes
Underlying basket:	3M Co. (NYSE: MMM) with a 2.04% weight, Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) with a 2.04% weight, Amn Healthcare Services, Inc. (NYSE: AMN) with a 2.04% weight, Automatic Data Processing, Inc. (Nasdaq: ADP) with a 2.04% weight, Badger Meter, Inc. (NYSE: BMI) with a 2.04% weight, Best Buy Co., Inc. (NYSE: BBY) with a 2.04% weight, Boise Cascade Co. (NYSE: BCC) with a 2.04% weight, Bunge Ltd. (NYSE: BG) with a 2.04% weight, Cadence Design Systems, Inc. (Nasdaq: CDNS) with a 2.04% weight, CBRE Group, Inc. (NYSE: CBRE) with a 2.04% weight, Clean Energy Fuels Corp. (Nasdaq: CLNE) with a 2.04% weight, Cree, Inc. (Nasdaq: CREE) with a 2.04% weight, Deckers Outdoor Corp. (NYSE: DECK) with a 2.05% weight, Ecolab Inc. (NYSE: ECL) with a 2.04% weight, Encompass Health Corp. (NYSE: EHC) with a 2.04% weight, Expeditors International Washington, Inc. (Nasdaq: EXPD) with a 2.04% weight, Fulgent Genetics, Inc. (Nasdaq: FLGT) with a 2.04% weight, Gap, Inc. (NYSE: GPS) with a 2.04% weight, Genetherm Inc. (Nasdaq: THRM) with a 2.04% weight, Helen of Troy Ltd. (Nasdaq: HELE) with a 2.04% weight, Hess Corp. (NYSE: HES) with a 2.05% weight, Huntington Bancshares Inc. (Nasdaq: HBAN) with a 2.04% weight, Inari Medical, Inc. (Nasdaq: NARI) with a 2.04% weight, Ingredion Inc. (NYSE: INGR) with a 2.04% weight, Johnson Controls International plc (NYSE: JCI) with a 2.04% weight, KAR Auction Services, Inc. (NYSE: KAR) with a 2.04% weight, Kellogg Co. (NYSE: K) with a 2.04% weight, Keysight Technologies, Inc. (NYSE: KEYS) with a 2.04% weight, LAM Research Corp. (Nasdaq: LRCX) with a 2.04% weight, Mercury Systems, Inc. (Nasdaq: MRCY) with a 2.04% weight, Microsoft Corp. (Nasdaq: MSFT) with a 2.04% weight, Molson Coors Beverage Co. (NYSE: TAP) with a 2.04% weight, Morgan Stanley (NYSE: MS) with a 2.04% weight, National Instruments Corp. (Nasdaq: NATI) with a 2.05% weight, Nextera Energy, Inc. (NYSE: NEE) with a 2.04% weight, Nvidia Corp. (Nasdaq: NVDA) with a 2.04% weight, PVH Corp. (NYSE: PVH) with a 2.04% weight, Regions Financial Corp. (NYSE: RF) with a 2.05% weight, Ryder System, Inc. (NYSE: R) with a 2.04% weight, Teradata Corp. (NYSE: TDC) with a 2.04% weight, Terminix Global Holdings, Inc. (NYSE: TMX) with a 2.04% weight, Texas Instruments Inc. (Nasdaq: TXN) with a 2.04% weight, Trane Technologies (NYSE: TT) with a 2.04% weight, Trinseo SA (NYSE: TSE) with a 2.04% weight, West Pharmaceutical Services, Inc. (NYSE: WST) with a 2.04% weight, Weyerhaeuser Co. (NYSE: WY) with a 2.04% weight, Workhorse Group Inc. (Nasdaq: WKHS) with a 2.04% weight, W.W. Grainger, Inc. (NYSE: GWW) with a 2.04% weight, Xylem Inc. (NYSE: XYL) with a 2.04% weight
Amount:	$9,105,000
Maturity:	Oct. 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain, capped at par plus 24%; par if basket finishes flat or falls by up to 20%; otherwise, full exposure to losses
Initial prices:	$181.79 for 3M, $13.78 for Allscripts, $113.90 for Amn, $201.72 for Automatic Data, $107.40 for Badger, $110.18 for Best Buy, $56.36 for Boise Cascade, $80.34 for Bunge, $158.16 for Cadence, $97.10 for CBRE, $9.28 for Clean Energy, $84.97 for Cree, $382.49 for Deckers, $218.28 for Ecolab, $77.49 for Encompass, $123.83 for Expeditors, $87.57 for Fulgent, $24.58 for Gap, $83.36 for Genetherm, $229.38 for Helen of Troy, $79.12 for Hess, $15.80 for Huntington, $83.69 for Inari, $89.99 for Ingredion, $71.92 for Johnson Controls, $15.94 for KAR, $64.00 for Kellogg, $176.83 for Keysight, $616.67 for LAM, $48.14 for Mercury, $294.17 for Microsoft, $48.80 for Molson Coors, $105.10 for Morgan Stanley, $42.12 for National Instruments, $78.76 for Nextera, $216.60 for Nvidia, $113.38 for PVH, $21.76 for Regions, $85.17 for Ryder, $55.65 for Teradata, $42.54 for Terminix, $200.33 for Texas Instruments, $179.38 for Trane, $55.70 for Trinseo, $441.59 for West Pharmaceutical, $37.10 for Weyerhaeuser, $8.29 for Workhorse, $408.22 for W.W. Grainger, $134.30 for Xylem
Pricing date:	Sept. 27, 2021
Settlement date:	Sept. 30, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057JHY5

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