New Issue: GS Finance sells $631,000 autocallable index-linked notes on S&P 500, Dow

By Kiku Steinfeld

Chicago, Jan. 22 – GS Finance Corp. priced $631,000 of 0% autocallable index-linked notes due June 9, 2028 tied to 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.

The notes will be called at par plus a 9% call premium if the lesser performing index closes at or above 100% of its initial level on June 3, 2024.

If the notes are not called, the payout at maturity will be par plus 1.708 times any gain in the lesser performing index. If the lesser performing index declines by no more than 15%, the payout will be par. Otherwise, investors will be exposed to the losses of the least performer beyond 15%.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable index-linked notes
Underlying indexes:	S&P 500, Dow Jones industrial average
Amount:	$631,000
Maturity:	June 9, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.708 times any index gain of lesser performer; if lesser performer falls but not below 85% buffer level, par; otherwise, investors will be exposed to the losses of the least performer beyond 15%
Call:	At par plus 9% call premium if index closes at or above 100% of initial level on June 3, 2024
Initial levels:	4,282.37 for S&P, for 33,762.76 Dow
Buffer:	15%
Pricing date:	June 2, 2023
Settlement date:	June 7, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	3.75%
Cusip:	40057RZD3

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