New Issue: GS Finance prices $560,000 digital ETF-linked notes on Gold Miners

By Kiku Steinfeld

Chicago, Aug. 21 – GS Finance Corp. priced $560,000 of 0% digital ETF-linked notes due March 28, 2024 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the ETF finishes at or above initial level, the payout at maturity will be $1,123 per $1,000 principal amount of notes.

If the ETF declines by up to 30%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines from initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Digital ETF-linked notes
Underlying ETF:	VanEck Gold Miners ETF
Amount:	$560,000
Maturity:	March 28, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the ETF finishes at or above initial level, $1,123 per $1,000 principal amount of notes; if ETF declines by up to 30%, par; otherwise, 1% loss for every 1% of ETF decline from initial level
Initial ETF level:	$26.99
Barrier level:	70% of initial level
Pricing date:	Feb. 24, 2023
Settlement date:	March 1, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	2.16%
Cusip:	40057PTP7

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