New Issue: GS Finance sells $8.56 million capped trigger gears on Russell 2000

By Kiku Steinfeld

Chicago, March 1 – GS Finance Corp. priced $8.56 million of 0% capped trigger gears due Feb. 29, 2024 linked to 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 index return is positive, the payout at maturity will be par plus 2 times the index gain, capped at $13.31 per $10 face amount of notes.

If the index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.

Otherwise, investors will be fully exposed to the index decline.

Goldman, Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Capped trigger gears
Underlying index:	Russell 2000
Amount:	$8,564,000
Maturity:	Feb. 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2 times any index gain, capped at par plus 33.1%; par if index finishes at or below the initial level but at or above downside threshold; otherwise, full exposure to index decline
Initial index level:	2,231.314
Downside threshold:	1,673.486, 75% of initial level
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Underwriter:	Goldman, Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
Fees:	2.75%, including 2.5% for selling concessions
Cusip:	36259Y164

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