New Issue: GS Finance prices $69,000 index-linked notes on S&P, Russell, Dow

By Kiku Steinfeld

Chicago, Jan. 8 – GS Finance Corp. priced $69,000 of 0% index-linked notes due April 28, 2028 linked to the performance of S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of the lesser performing index is zero or positive, the payout at maturity will be par plus 141% of that index’s return.

Investors will receive par if the lesser performing index declines but not more than 35%.

Otherwise, investors will be fully exposed to the losses of the lesser performer from its initial level.

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, Russell 2000 index, Dow Jones industrial average
Amount:	$69,000
Maturity:	April 28, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If return of lesser performing index is zero or positive, par plus 141% of its gain; par if lesser performing index declines but not beyond 35%; otherwise, investors will be fully exposed to the loss of lesser performer
Initial levels:	1,745.952 for Russell, 4,071.63 for S&P, 33,530.83 for Dow
Barrier levels:	65% of initial levels
Pricing date:	April 25, 2023
Settlement date:	April 28, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	4.215%
Cusip:	40057RE53

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