New Issue: GS Finance sells $1.39 million index-linked notes on S&P, Dow

By Taylor Fox

New York, Nov. 16 – GS Finance Corp. priced $1.39 million of 0% index-linked notes due April 23, 2026 tied to the least performing 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.

The payout at maturity will be par plus 1.04 times the worst performer if each index finishes at or above its initial level. If either index falls but not below 90% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines 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, Dow Jones industrial average
Amount:	$1,390,000
Maturity:	April 23, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.04 times worst performing index if each index finishes at or above its initial level; par if either index falls but neither index finishes below 90% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 10% buffer
Initial levels:	Lowest of the closing levels on the 21st of each month from Oct. 21 to Dec. 21
Buffer levels:	90% of initial levels
Pricing date:	Oct. 21
Settlement date:	Oct. 23
Agent:	Goldman Sachs & Co. LLC
Fees:	0.85%
Cusip:	40057EGG6

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