New Issue: GS Finance prices $31,000 index-linked notes linked to Dow, S&P

By Sarah Lizee

Olympia, Wash., Aug. 7 – GS Finance Corp. priced $31,000 of 0% index-linked notes due Feb. 2, 2023 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 finishes at or above its initial level, the payout at maturity will be par plus 2 times the return of the lesser performing index, capped at $1,230 per $1,000 of notes.

If either index finishes below its initial level by up to 10%, the payout will be par.

Otherwise, investors will be exposed to the decline of the least performing index beyond 10%.

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 index and Dow Jones industrial average
Amount:	$31,000
Maturity:	Feb. 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 2 times the return of the lesser performing index, capped at $1,230 per $1,000 of notes; if either index finishes below its initial level by up to 10%, par; investors will be exposed to the decline of the least performing index beyond 10%
Initial index levels:	3,218.44 for S&P, 26,379.28 for Dow
Buffer levels:	90% of initial levels
Pricing date:	July 28
Settlement date:	July 31
Agent:	Goldman Sachs & Co. LLC
Fees:	2.925%
Cusip:	40057CEU1

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