New Issue: GS Finance sells $3.46 million index-linked notes on Russell, S&P

By William Gullotti

Buffalo, N.Y., Feb. 24 – GS Finance Corp. priced $3.46 million of 0% index-linked notes due April 30, 2027 tied to the Russell 2000 index 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 1.4 times the upside participation of the least performing index.

If the worst performer finishes above 75% of its initial level, the payout will be par.

If any index falls by more than 25%, investors will be fully exposed to any losses of the lesser-performing index.

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:	Russell 2000 index, S&P 500 index
Amount:	$3,460,000
Maturity:	April 30, 2027
Coupon:	0%
Price:	Par
Upside participation:	140%
Payout at maturity:	If each index finishes at or above its initial level, par plus 1.4 times the upside participation of the least performing index; if worst performer finishes above 75% of initial level, par; if any index falls by more than 25%, investors will be fully exposed to any losses of the lesser-performing index
Initial index levels:	2,271.856 for Russell, 4,180.17 for S&P
Barrier levels:	75% of initial levels
Pricing date:	April 23, 2021
Settlement date:	April 30, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	3.25%
Cusip:	40057FZF4

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