New Issue: GS Finance sells $5.17 million index-linked notes on S&P, Dow, Nasdaq

Chicago, March 22 – GS Finance Corp. priced $5.17 million of 0% index-linked notes due March 9, 2026 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 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 each index is zero or positive, the payout at maturity will be par plus 1.66 times the return of the least performing index.

If either index falls but the return of each index is at least negative 30%, the payout will be par.

If either index falls by more than 30%, investors will lose1% for each 1% decline of the worst performing index 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, Nasdaq-100, Dow Jones industrial average
Amount:	$5,174,000
Maturity:	March 9, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.66 times the return of least performing index; if either index falls but the return of each index is at least negative 30%, par; if either index falls by more than 30%, investors will lose1% for each 1% decline of the worst performing index from its initial level
Initial levels:	12,925.38 for Nasdaq, 3,714.24 for S&P, 29,982.62 for Dow
Trigger buffer level:	70% of initial level
Pricing date:	Jan. 29
Settlement date:	Feb. 3
Agent	Goldman, Sachs & Co. LLC
Fees:	1.03%
Cusip:	40057EYB7

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