New Issue: GS Finance sells $1.45 million index-linked notes on Russell, S&P

By Sarah Lizee

Olympia, Wash., March 20 – GS Finance Corp. priced $1.45 million of 0% index-linked notes due March 16, 2023 tied to the Russell 2000 index 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.

If each index finishes at or above its initial level, the payout will be the greater of $1,520 per $1,000 of notes and par plus the return of the lesser performing index.

If either index declines by up to 20%, the payout will be par.

If either index declines by more than 20%, investors will lose 1% for every 1% decline of the lesser performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$1,446,000
Maturity:	March 16, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, greater of $1,520 per $1,000 of notes and par plus the return of the lesser performing index; if either index declines by up to 20%, par; if either index declines by more than 20%, 1% loss for every 1% decline of the lesser performing index
Initial levels:	1,210.135 for Russell, 2,711.02 for S&P
Barrier levels:	80% of initial levels
Pricing date:	March 13
Settlement date:	March 18
Agent:	Goldman Sachs & Co. LLC
Fees:	1.375%
Cusip:	40056YMZ4

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