New Issue: GS Finance sells $815,000 index-linked notes on S&P, Dow

Chicago, Oct. 16 – GS Finance Corp. priced $815,000 of 0% index-linked notes due April 7, 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.

The notes are guaranteed by Goldman Sachs Group, Inc.

If each index closes at or above its initial level, the payout will be par plus 150% of the return of the lesser performing index, capped at par plus 44.7%.

If the lesser performing index falls by up to 10%, the payout will be par. Otherwise, investors will be exposed to losses of the worst performing index beyond the 10% buffer.

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:	$815,000
Maturity:	April 7, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above its initial level, par plus 150% of return of the lesser performing index, capped at par plus 44.7%; if the lesser performing index falls by up to 10%, par; otherwise, investors will be exposed to losses of the worst performing index beyond the 10% buffer
Initial index levels:	29,296.79 for Dow, 3,639.66 for S&P
Buffer levels:	90% of initial levels
Pricing date:	Oct. 7, 2022
Settlement date:	Oct. 13, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	2.75%
Cusip:	40057NDP9

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