New Issue: GS Finance prices $8.49 million index-linked notes tied to S&P, Dow

By William Gullotti

Buffalo, N.Y., Jan. 23 – GS Finance Corp. priced $8.49 million of 0% index-linked notes due Jan. 24, 2025 linked to the performance 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.

If the return of each index is zero or positive, the payout at maturity will be par plus the return of the lesser performing index, capped at par plus 33.39%.

If the lesser performing index falls by up to 30%, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the lesser performing index beyond 30%.

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:	$8,486,000
Maturity:	Jan. 24, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus the return of the lesser performing index, capped at par plus 33.39%; if any index falls but the final underlier level of each is greater than or equal to the 70% trigger buffer level, par; otherwise, lose 1% for each 1% decline of the lesser performing index beyond 30%
Initial levels:	3,928.86 for S&P, 33,296.96 for Dow
Trigger buffer levels:	70% of initial levels
Pricing date:	Jan. 18
Settlement date:	Jan. 23
Agent:	Goldman Sachs & Co. LLC
Fees:	0.15%
Cusip:	40057PAV4

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