New Issue: GS Finance sells $5.74 million index-linked notes on S&P, Dow

Chicago, Dec. 4 – GS Finance Corp. priced $5.76 million of 0% index-linked notes due Sept. 29, 2022 tied to the least performing of the Dow Jones industrial average 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.

At maturity, investors will receive par plus two times the return of the worst performer if both indexes finish above their initial levels, subject to a cap of $1,205 per $1,000 note.

The payout will be par if either index finishes below its initial level, but both indexes finish above 90% of their initial levels.

Otherwise, investors will be exposed to the losses of the worst performer at a rate of 1.1111% per 1% decline beyond the 10% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, S&P 500 index
Amount:	$5,764,000
Maturity:	Sept. 29, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus two times the return of worst performer if both indexes finish above initial levels, capped at $1,205 per $1,000 note; par if the worst performer finishes below initial level but above buffer level; otherwise, 1.1111% loss for each 1% decline beyond the 10% buffer
Initial levels:	3,974.54 for S&P, 33,072.88 for Dow
Buffer levels:	90% of initial levels
Pricing date:	March 26
Settlement date:	March 31
Agent:	Goldman Sachs & Co. LLC
Fees:	0.35%
Cusip:	40057FVR2

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