New Issue: GS Finance sells $260,000 index-linked notes on S&P, Dow

By Kiku Steinfeld

Chicago, Aug. 26 – GS Finance Corp. priced $260,000 of 0% index-linked notes due Jan. 24, 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.

If each index finishes at or above its initial level, the payout will be par plus the return of the laggard index.

If the worst performer declines but finishes at or above 76% of its initial level, the payout will be par plus the absolute value of the lesser performing index return.

If any index falls below 76% of its initial level, investors will be exposed to the decline of the worst performing index.

The notes are guaranteed by Goldman Sachs Group, Inc.

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:	$260,000
Maturity:	Jan. 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus the return of the laggard index; if worst performer finishes at or above barrier level, par plus the absolute value of the lesser performing index return; otherwise, investors will be exposed to the decline of the worst performing index
Initial index levels:	4,532.76 for S&P, 35,028.65 for Dow
Barrier levels:	76% of initial levels
Pricing date:	Jan. 19, 2022
Settlement date:	Jan. 24, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	1.2%
Cusip:	40057KRD7

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