New Issue: GS Finance sells $552,000 ETF-linked notes tied to three funds

Chicago, Jan. 26 – GS Finance Corp. priced $552,000 of 0% ETF-linked notes due Nov. 22, 2024 linked to the least performing of the iShares Global Clean Energy ETF, Industrial Select Sector SPDR fund and Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the final values of all funds are greater than their initial values, the payout at maturity will be 1.84 times the return of the least performing fund.

If any fund finishes below its initial value but above 70% of its initial level, the payout will be par.

Otherwise, investors will be fully exposed to the losses of the least performing fund.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	ETF-linked notes
Underlying funds:	iShares Global Clean Energy ETF, Industrial Select Sector SPDR fund and Technology Select Sector SPDR fund
Amount:	$552,000
Maturity:	Nov. 22, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If all funds finish above initial values, 1.84 times return of least performing fund; if least performing fund finishes above 70% of initial level, par, otherwise, 1% loss for each 1% decline from initial level
Initial levels:	$24.69 for Clean Energy, $105.73 for Industrial, $171.31 for Technology
Buffer levels:	70% of initial levels
Pricing date:	Nov. 19, 2021
Settlement date:	Nov. 24, 2021
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057K5T6

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