New Issue: GS Finance sells $384,000 index-linked notes on Dow, S&P

By Wendy Van Sickle

Columbus, Ohio, Nov. 2 – GS Finance Corp. priced $384,000 of 0% index-linked notes due Oct. 30, 2025 tied to the least performing of 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.

The payout at maturity will be par plus 1.5 times the lesser performing index return if each index finishes at or above its initial level up to par plus 50%. If either index falls but not below 60% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines 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:	S&P 500 index, Dow Jones industrial average
Amount:	$384,000
Maturity:	Oct. 30, 2025
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 1.5 times return of laggard index if each index finishes at or above its initial level up to par plus 50%; par if either index falls but not below 60% of its initial level; otherwise, 1% loss for every 1% decline of least performing index from initial level
Initial levels:	3,390.68 for S&P, 27,463.19 for Dow
Pricing date:	Oct. 27
Settlement date:	Oct. 30
Agent:	Goldman Sachs & Co. LLC
Fees:	4.43%
Cusip:	40057EC21

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