New Issue: GS Finance prices $19.65 million dual directional trigger PLUS linked to S&P 500

New York, March 23 – GS Finance Corp. priced $19.65 million of 0% dual directional trigger PLUS due Oct. 3, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 150% of the index return subject to a maximum return of par plus 16.8%. Investors will receive a 1% gain for each 1% loss if the index declines but finishes above the trigger level and they will lose 1% for every 1% decline if the index ends below its trigger level.

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:	Dual directional trigger PLUS
Underlying index:	S&P 500 index
Amount:	$19,645,970
Maturity:	Oct. 3, 2024
Coupon:	0%
Price:	100.00% of the principal amount
Payout at maturity:	If index return is positive, par plus 150% of index return subject to a maximum return of par plus 16.8%; 1% gain for each 1% loss if index declines but ends above trigger level; full exposure to loss if index ends below trigger level
Initial level:	3,916.64
Trigger level:	3,133.312, 80% of initial level
Upside leverage:	150%
Cap:	16.8%
Pricing date:	March 17
Settlement date:	March 22
Agent:	Goldman Sachs & Co. LLC
Fees:	2.50%
Cusip:	36264U868

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