New Issue: GS Finance prices $628,000 index-linked notes linked to Dow, Nasdaq

By Angela McDaniels

Tacoma, Wash., May 1 – GS Finance Corp. priced $628,000 of 0% index-linked notes due June 5, 2024 linked to the Dow Jones Industrial Average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of each index is positive, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index, subject to a maximum return of 36.65%. If the lesser-performing index declines by up to 20%, the payout will be par plus the absolute value of the lesser-performing index’s return. Otherwise, investors will be exposed to the decline of the lesser-performing index.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones Industrial Average and the Nasdaq-100 index
Amount:	$628,000
Maturity:	June 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is positive, par plus 1.5 times return of lesser-performing index; par plus absolute value of lesser-performing index if it declines by up to 20%; otherwise, 1% loss for every 1% that lesser-performing index declines
Initial levels:	32,990.12 for Dow and 12,642.10 for Nasdaq
Barrier levels:	80% of initial levels
Pricing date:	May 31, 2022
Settlement date:	June 3, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	2.55%
Cusip:	40057M3W7

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