New Issue: GS Finance sells $352,000 index-linked notes on Nasdaq, Russell

By Kiku Steinfeld

Chicago, March 8 – GS Finance Corp. priced $352,000 of 0% index-linked notes due Aug. 28, 2023 linked to the lesser performing of the Nasdaq-100 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 greater than or equal to zero, the payout at maturity will be par plus 2 times the lesser-performing index’s return, subject to a maximum settlement amount of $1,250 per $1,000 principal amount of notes.

If the lesser-performing index declines by 15% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Nasdaq-100, Russell 2000
Amount:	$352,000
Maturity:	Aug. 28, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is greater than or equal to zero, par plus 2 times lesser-performing index’s return, subject to maximum settlement amount of $1,250 per $1,000 principal amount of notes; if lesser-performing index declines by 15% or less, par; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 15%
Initial levels:	13,194.71 for Nasdaq, 2,231.314 for Russell
Buffer levels:	85% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Underwriter:	Goldman Sachs & Co. LLC
Fees:	2.925%
Cusip:	40057FC36

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