New Issue: GS Finance prices $9.91 million dual directional trigger PLUS linked to gold ETF

Chicago, June 16 – GS Finance Corp. priced $9.91 million of 0% dual directional trigger PLUS due June 4, 2025 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of the ETF is positive, the payout at maturity will be par plus 200% of the return of the ETF subject to a maximum return of par plus 46.1%. Investors will receive a 1% gain for each 1% loss if the ETF declines but finishes above the 75% trigger level and they will lose 1% for every 1% decline if the ETF ends below its principal barrier.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Dual directional trigger PLUS
Underlying ETF:	VanEck Gold Miners ETF
Amount:	$9,912,000
Maturity:	June 4, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 200% of ETF return subject to a maximum return of par plus 46.1%; 1% gain for each 1% loss if ETF declines but ends above trigger level; full exposure to loss if ETF ends below principal barrier
Initial level:	$30.91
Trigger level:	$23.1825, 75% of initial level
Upside leverage:	200%
Cap:	46.1%
Pricing date:	May 31
Settlement date:	June 5
Agent:	Goldman Sachs & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	40057RVU9

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