New Issue: GS Finance sells $646,000 index-linked notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, Feb. 11 – GS Finance Corp. priced $646,000 of 0% index-linked notes due Feb. 1, 2024 linked to the lesser performing of 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 the return of each index is zero or positive, the payout at maturity will be par plus 2 times the return of the lesser performing index, subject to the maximum settlement amount of $1,405 per $1,000 principal of notes.

If either index falls but the return of each index is at least negative 10%, the payout will be par.

Otherwise, investors will be fully exposed to the decline of the worse performing index beyond 10%.

Goldman, Sachs & Co. is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$646,000
Maturity:	Feb. 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is zero or positive, par plus 2 times return of lesser performing index up to 40.5%; if either index falls but return of each index is at least negative 10%, par; if either index falls by more than 10%, full exposure to decline of lesser performer beyond buffer level
Initial index levels:	2,108.696 for Russell, 3,750.77 for S&P
Buffer level:	90% of initial levels
Pricing date:	Jan. 27
Settlement date:	Feb. 1
Underwriter:	Goldman, Sachs & Co.
Fees:	1.45%
Cusip:	40057F6Z2

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