New Issue: GS Finance sells $647,000 index-linked notes on Russell, S&P

By William Gullotti

Buffalo, N.Y., Nov. 12 – GS Finance Corp. priced $647,000 of 0% index-linked notes due Aug. 1, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 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 double the return of the least performing index, subject to a maximum payout of par plus 36%.

If the least performing index falls by up to 10%, the payout will be par.

Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 10%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 index, S&P 500 index
Amount:	$647,000
Maturity:	Aug. 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus two times the return of the least performing index capped at 36%; if any index falls but the final underlier level of each is greater than or equal to the 90% trigger buffer level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer below 10%
Initial levels:	2,240.029 for Russell, 4,419.15 for S&P
Trigger buffer levels:	90% of initial levels
Pricing date:	July 29
Settlement date:	Aug. 3
Agent:	Goldman Sachs & Co. LLC
Fees:	1.2%
Cusip:	40057HWS5

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