New Issue: GS Finance sells $510,000 equity-linked notes on Citigroup

Chicago, May 1 – GS Finance Corp. priced $510,000 of 0% equity-linked notes due June 20, 2023 tied to the common stock of Citigroup, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the stock finishes at or above its initial level, the payout will be par plus the return, capped at $1,353 for each $1,000 face amount.

If the stock declines by up to 30%, the payout will be par.

Otherwise, investors will be fully exposed to the decline.

Goldman, Sachs & Co. is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Equity-linked notes
Underlying stock:	Citigroup, Inc.
Amount:	$510,000
Maturity:	June 20, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the stock finishes at or above its initial level, par plus the return, capped at $1,353 for each $1,000 face amount; if the stock declines by up to 30%, par; otherwise, full exposure to decline of stock
Initial stock price:	$47.71
Trigger buffer price:	70% of initial price
Pricing date:	June 10, 2022
Settlement date:	June 15, 2022
Underwriter:	Goldman, Sachs & Co.
Fees:	0.75%
Cusip:	40057MCF4

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