New Issue: GS Finance sells $617,000 index-linked notes on Dow, S&P

By Taylor Fox

New York, Jan. 19 – GS Finance Corp. priced $617,000 of 0% index-linked notes due Dec. 29, 2025 tied to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus 1.2 times the less performing index return up to $1,500 per $1,000.

If the worst performer finishes above 60% of its initial level, the payout will be par.

If either index falls by more than 40%, investors will lose 1% for each 1% decline of the worst performer.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, S&P 500
Amount:	$617,000
Maturity:	Dec. 29, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 1.2 times the less performing index return, up to $1,500 per $1,000 of notes; if worst performer finishes above 60% of initial level, par; if either index falls by more than 40%, investors will lose 1% for each 1% decline of the lesser-performing index
Initial index levels:	30,129.83 for Dow and 3,690.01 for S&P
Trigger buffer levels:	60% of initial levels
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agent:	Goldman Sachs & Co. LLC
Fees:	4.41%
Cusip:	40057ER33

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