New Issue: GS Finance sells $546,000 index-linked notes on Dow, S&P

By Wendy Van Sickle

Columbus, Ohio, Jan. 7 – GS Finance Corp. priced $546,000 of 0% index-linked notes due Dec. 29, 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 23% if each index finishes at or above its initial level. Investors will receive par plus the absolute value of the laggard index’s return if the worst performing index falls by up to 30%. Otherwise, investors will lose 1% for every 1% that the least performing index declines.

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:	$546,000
Maturity:	Dec. 29, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 23% if each index finishes at or above its initial level; if the index return of either index is less than 0% but the final level of each index is greater than or equal to 70% of its initial level, par plus the absolute value of the lesser-performing index’s return; otherwise 1% loss for every 1% decline of the least performing index
Initial levels:	3,690.01 for S&P, 30,129.83 for Dow
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agent:	Goldman Sachs & Co. LLC
Fees:	4.32%
Cusip:	40057ES24

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