New Issue: GS Finance prices $2.54 million index-linked notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 25 – GS Finance Corp. priced $2.54 million of 0% notes due July 25, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout will be based on par plus the sum of the index returns as measured on each annual observation date. If the index return is greater than 0% on an observation date, the return for that period will equal the index gain up to 13%. If the index falls by up to 20%, the return will be zero for that period. If the index falls by more than 20%, the return for that period will be the loss beyond 20%.

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 index:	S&P 500 index
Amount:	$2,539,000
Maturity:	July 25, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus sum of index returns as measured on annual observation dates; if index return is greater than 0% on an observation date, return for that period will equal index gain up to 13%; if index falls by up to 20%, return will be zero for that period; if index falls by more than 20%, return for that period will be loss beyond 20%
Initial index level:	4,534.87
Pricing date:	July 20
Settlement date:	July 25
Agent:	Goldman Sachs & Co. LLC
Fees:	0.25%
Cusip:	40057TD27

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