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Published on 4/6/2021 in the Prospect News Structured Products Daily.

New Issue: GS Finance sells $474,000 underlier-linked autocalls on index, ETF

By Wendy Van Sickle

Columbus, Ohio, April 6 – GS Finance Corp. priced $474,000 of 0% underlier-linked notes due March 26, 2025 linked to the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will be called at par plus an 11.7% annualized premium if each asset closes at or above its initial level on an annual call date.

If the return of each underlier is at or above its initial level, the payout at maturity will be par plus 46.8%.

If the return of each underlier is negative but greater than or equal to negative 30%, the payout will be par.

If either underlier falls by more than 30%, investors will be fully exposed to the decline of the lesser performer.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Autocallable underlier-linked notes
Underlying assets:Russell 2000 index, iShares MSCI Emerging Markets ETF
Amount:$474,000
Maturity:March 26, 2025
Coupon:0%
Price:Par
Call:At par plus 11.7% annualized premium if each asset closes at or above initial level on an annual call date
Payout at maturity:If the return of each underlier is at or above initial level, par plus 46.8%; if the return of each underlier is negative but greater than or equal to negative 30%, par; if either underlier falls by more than 30%, investors will be fully exposed to the decline of the lesser performer
Initial levels:$54.08 for ETF, 2,287.545 for Russell
Pricing date:March 19
Settlement date:March 24
Underwriter:Goldman Sachs & Co. LLC
Fees:2.3%
Cusip:40057FNT7

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