New Issue: GS Finance sells $1.04 million index-linked notes on Nasdaq, Dow

By Wendy Van Sickle

Columbus, Ohio, May 20 – GS Finance Corp. priced $1.04 million of 0% index-linked notes due May 20, 2025 tied to the Nasdaq-100 index and the Dow Jones industrial average, 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 par plus 1.43 times the return of the lesser performing index.

If either index declines by up to 40%, the payout will be par.

Otherwise, investors will be fully exposed to the losses of the worst performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Nasdaq-100, Dow Jones industrial average
Amount:	$1,039,000
Maturity:	May 20, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above its initial level, par plus 1.43 times the return of the lesser performing index; if either index declines by up to 40%, par; otherwise, investors will be fully exposed to the losses of the worst performing index
Initial index levels:	23,685.42 for Dow, 9,152.639 for Nasdaq
Barrier levels:	60% of initial levels
Pricing date:	May 15
Settlement date:	May 20
Agent:	Goldman Sachs & Co. LLC
Fees:	4.45%
Cusip:	40057EB71

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