New Issue: GS Finance sells $982,000 index-linked notes on S&P, Dow

By Sarah Lizee

Olympia, Wash., May 14 – GS Finance Corp. priced $982,000 of 0% index-linked notes due May 15, 2025 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If each index closes at or above its initial level, the payout will be par plus the 1.1 times the return of the lesser performing index, capped at $1,800 for each $1,000 of notes.

If either index declines by up to 20%, the payout will be par.

Otherwise, investors will be exposed to the losses of the worst performing index beyond 20%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500, Dow Jones industrial average
Amount:	$982,000
Maturity:	May 15, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above its initial level, par plus the 1.1 times the return of the lesser performing index, capped at $1,800 for each $1,000 of notes; if either index declines by up to 20%, par; otherwise, investors will be exposed to the losses of the worst performing index beyond 20%
Initial index levels:	23,764.78 for Dow, 2,870.12 for S&P
Buffer levels:	80% of initial levels
Pricing date:	May 12
Settlement date:	May 15
Agent:	Goldman Sachs & Co. LLC
Fees:	4.475%
Cusip:	40057C2D2

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