New Issue: GS Finance sells $495,000 index-linked notes on S&P 500, Russell 2000

By Taylor Fox

New York, Feb. 22 – GS Finance Corp. priced $495,000 of 0% index-linked notes due Feb. 2, 2023 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the return of the worst performing index if both indexes finish above their initial level, subject to a maximum return of $1,180 per $1,000 note.

If either index falls but not below 85% of its initial level, the payout will be par plus the absolute return of the worst performing index.

Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond the 15% buffer.

The notes are guaranteed by Goldman Sachs Group, Inc.

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 and Russell 2000 index
Amount:	$495,000
Maturity:	Feb. 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus return of worst performing index up to $1,180 per $1,000 note if both indexes finish above initial levels; par plus absolute return of worst performer if either index falls but neither index finishes below 85% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 15% buffer
Initial levels:	3,714.24 for S&P 500, 2,073.641 for Russell
Buffer levels:	85% of initial levels
Pricing date:	Jan. 29
Settlement date:	Feb. 3
Agent:	Goldman Sachs & Co. LLC
Fees:	0.89%
Cusip:	40057EZP5

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