New Issue: GS Finance sells $2.73 million upside participation market-linked notes on S&P

By William Gullotti

Buffalo, N.Y., April 4 – GS Finance Corp. priced $2.73 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Nov. 6, 2023 linked to 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.

The payout at maturity will be par plus two times the index gain, capped at $1,160 per security.

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

Investors will lose 1% for every 1% decline of the index beyond the 10% buffer.

Goldman Sachs & Co. LLC and Wells Fargo Securities are agents.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying:	S&P 500 index
Amount:	$2,734,000
Maturity:	Nov. 6, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus two times index gain, capped at $1,160 per security; if index falls by up to 10%, par; otherwise, 1% loss for every 1% decline of index beyond 10% buffer
Initial share price:	4,181.17
Buffer level:	90% of initial level
Pricing date:	April 30, 2021
Settlement date:	May 5, 2021
Agents:	Goldman Sachs & Co. LLC and Wells Fargo Securities
Fees:	2.975%
Cusip:	40057FWS9

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