New Issue: GS Finance sells $11.16 million dual directional buffered participation securities on S&P

New York, July 12 – GS Finance Corp. priced $11.16 million of 0% dual directional buffered participation securities due Jan. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of par plus 18.5%.

Investors will receive par plus absolute return of the index if it declines by no more than 10% and will lose 1% for every 1% of index decline beyond 10%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Dual directional buffered participation securities
Underlying index:	S&P 500 index
Amount:	$11,164,100
Maturity:	Jan. 4, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If return of index is positive, par plus index return, subject to a maximum return of par plus 18.5%; par plus absolute return of index if it declines by no more than 10%; otherwise, lose 1% for every 1% decline beyond 10%
Initial level:	3,785.38
Cap:	18.5%
Buffer:	10%
Pricing date:	June 30
Settlement date:	July 6
Agent:	Goldman Sachs & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	36263Q579

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