New Issue: GS Finance sells $1.07 million index-linked notes on S&P, Dow

By William Gullotti

Buffalo, N.Y., Aug. 15 – GS Finance Corp. priced $1.07 million of 0% index-linked notes due July 25, 2024 linked 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.

If the return of each index is zero or positive, the payout at maturity will be par plus 1.5 times the return of the laggard index, subject to a maximum return of par plus 39.5%.

If the least performing index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the laggard index below 10%.

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:	$1,074,000
Maturity:	July 25, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.5 times the return of the laggard index, capped at 39.5%; if any index falls but the final underlier level of each is greater than or equal to the 90% trigger buffer level, par; otherwise, 1% loss for every 1% decline of worst performer beyond 10%
Initial levels:	31,899.29 for Dow, 3,961.63 for S&P
Trigger buffer levels:	90% of initial levels
Pricing date:	July 22
Settlement date:	July 27
Agent:	Goldman Sachs & Co. LLC
Fees:	None
Cusip:	40057MM22

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