New Issue: GS Finance sells $1.11 million index-linked notes on Dow, S&P

Chicago, May 11 – GS Finance Corp. priced $1.11 million of 0% index-linked notes due Oct. 8, 2024 tied to the lesser performing of the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus the 1.5 times the gain of the least performer, capped at $1,270 per $1,000 note.

If the worst performer finishes above 90% of its initial level, the payout will be par.

If any index falls by more than 10%, investors will be exposed to the loss of the worst performer beyond the 10% buffer.

The notes are guaranteed by Goldman Sachs Group, Inc.

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:	$1,112,000
Maturity:	Oct. 8, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the notes are not called and each index finishes at or above its initial level, par plus the 1.5 times the gain of the worst performer capped at $1,270 per $1,000 note; if worst performer finishes above 90% of initial level, par; if any index falls by more than 10%, exposure to loss of worst performer beyond buffer
Initial index levels:	34,326.46 for Dow, 4,357.04 for S&P
Buffer levels:	90% of initial levels
Pricing date:	Oct. 1, 2021
Settlement date:	Oct. 8, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	2.5%
Cusip:	40057JND4

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