New Issue: GS Finance sells $804,000 index-linked notes on S&P, Russell

By Kiku Steinfeld

Chicago, May 31 – GS Finance Corp. priced $804,000 of 0% index-linked notes due Nov. 2, 2023 tied 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.

At maturity, investors will receive par plus the return of the worst performer if both indexes finish at or above their initial levels, subject to a maximum return of $1,200 per each $1,000 note.

The payout will be par plus the absolute value of the return of the worst performer if either index finishes below its initial level but both indexes finish at or above 85% of their initial levels.

Otherwise, investors will be exposed to the losses of the worst performer beyond 15%.

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:	$804,000
Maturity:	Nov. 2, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus the return of the worst performer if both indexes finish at or above their initial levels, capped at 20%; par plus absolute return of worst performer if it falls but finishes at or above buffer level; otherwise, exposure to losses of worst performer beyond buffer
Initial levels:	4,605.38 for S&P, 2,297.191 for Russell
Buffer levels:	85% of initial levels
Pricing date:	Oct. 29, 2021
Settlement date:	Nov. 3, 2021
Agent:	Goldman Sachs & Co. LLC
Fees:	0.65%
Cusip:	40057JPQ3

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