New Issue: GS Finance sells $4.71 million notes linked to S&P 500, Russell 2000

By Kiku Steinfeld

Chicago, May 18 – GS Finance Corp. priced $4.71 million of 0% index-linked notes due April 30, 2026 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 the lesser-performing index’s return.

If the lesser-performing index falls by up to 30%, the payout will be par plus the absolute value of that index’s return.

Otherwise, investors will be exposed to the losses of the lesser-performing index from its initial level.

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, Russell 2000 index
Amount:	$4,712,000
Maturity:	April 30, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus the lesser-performing index’s return; if either index falls but the return of each index is at least negative 30%, par plus the absolute value of the lesser-performing index’s return; if either index falls by more than 30%, investors will be exposed to the decline of the worst performing index
Initial levels:	4,186.72 for S&P 500, 2,301.267 for Russell
Pricing date:	April 27
Settlement date:	April 30
Agent:	Goldman Sachs & Co. LLC
Fees:	3.81%
Cusip:	40057FUR3

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