New Issue: GS Finance sells $507,000 index-linked notes on S&P, Russell

By Kiku Steinfeld

Chicago, Feb. 26 – GS Finance Corp. priced $507,000 of 0% index-linked notes due July 2, 2026 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If each index finishes at or above its initial level, the payout at maturity will be par plus 1.05 times the lesser performing index return.

If any index falls, but not more than 15%, indexes will receive par plus the absolute value of the lesser performing index’s return.

If any index falls by more than 15%, investors will lose 1% for every 1% that the least-performing index declines beyond its buffer.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$507,000
Maturity:	July 2, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes above its initial level, investors will receive par plus 1.05 times the lesser performing index return; par plus absolute value of laggard index if worst performer declines but not more than 15%; otherwise full exposure to losses of worst performer beyond buffer
Initial index levels:	4,378.41 for S&P, 1,849.930 for Russell
Buffer levels:	85% of initial levels
Pricing date:	June 27, 2023
Settlement date:	June 30, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	3.19%
Cusip:	40057T2T0

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