New Issue: GS Finance sells $407,000 index-linked notes on Dow, S&P

By Taylor Fox

New York, Dec. 30 – GS Finance Corp. priced $407,000 of 0% index-linked notes due Dec. 5, 2023 tied to the least performing of the S&P 500 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.

The payout at maturity will be par plus the least performing index’s return if each index finishes at or above its initial level. Investors will receive par if the worst performing index falls by up to 10%. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond the 10% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$407,000
Maturity:	Dec. 5, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the least performing index’s return if each index finishes at or above its initial level; if the index return of any index is less than 0% but the return of each index is greater than or equal to 90% buffer level, the return will be par; otherwise 1% loss for every 1% decline of the least performing index beyond the 10% buffer
Initial levels:	3,621.63 for S&P, 29,638.64 for Dow
Trigger levels:	90% of initial levels
Pricing date:	Nov. 30
Settlement date:	Dec. 3
Agent:	Goldman Sachs & Co. LLC
Fees:	1.75%
Cusip:	40057EKG1

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