New Issue: GS prices $411,000 index-linked notes on Dow Select Dividend, S&P 500

By Kiku Steinfeld

Chicago, March 20 – GS Finance Corp. priced $411,000 of 0% index-linked notes due Dec. 5, 2024 tied to the S&P 500 index and the Dow Jones U.S. Select Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the lesser performing index closes at or above its initial level, the payout at maturity will be par plus 1.05 times the return of the lesser performer, capped at 75%.

If the lesser performing index falls but finishes at or above 70% of its initial level, investors will receive par plus the absolute value of its return. Otherwise, investors will be fully exposed to the loss of the lesser performing index from its initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones U.S. Select Dividend and S&P 500
Amount:	$411,000
Maturity:	Dec. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.05 times any gain of lesser performing index, capped at 75%; par plus absolute value of lesser performing index return if it falls but not below trigger level; otherwise, full exposure to loss of lesser performer
Initial levels:	892.79 for Dow, 4,080.11 for S&P 500
Trigger levels:	70% of initial levels
Pricing date:	Nov. 30, 2022
Settlement date:	Dec. 5, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	0.53%
Cusip:	40057NVQ7

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