New Issue: GS Finance sells $498,000 index-linked notes on Dow, S&P

By William Gullotti

Buffalo, N.Y., Feb. 24 – GS Finance Corp. priced $498,000 of 0% index-linked notes due April 24, 2026 linked to the least performing of the Dow Jones industrial average and the S&P 500 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 1.311 times the return of the least performing index.

If the least performing index falls by up to 30%, the payout will be par.

Otherwise, investors will be fully exposed to any losses of the worst performing index.

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 index
Amount:	$498,000
Maturity:	April 24, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.311 times the return of least performing index; if any index falls but the final underlier level of each is greater than or equal to the trigger buffer level, par; if any index falls by more than trigger buffer level, investors will be fully exposed to the decline of the worst performing index
Initial levels:	34,137.31 for Dow, 4,173.42 for S&P 500
Trigger buffer levels:	70% of initial levels
Pricing date:	April 21, 2021
Settlement date:	April 26, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	1.125%
Cusip:	40057FZY3

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