New Issue: GS Finance sells $636,000 index-linked notes on Dow, S&P

By Kiku Steinfeld

Chicago, Nov. 21 – GS Finance Corp. priced $636,000 of 0% index-linked notes due March 20, 2025 tied to 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 worse-performing index gains, the payout will be par plus its return.

If either index falls by up to 20%, the payout will be par.

Otherwise, investors will lose 1% for every 1% that the worse-performing index falls beyond 20%.

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 and S&P 500
Amount:	$636,000
Maturity:	March 20, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If worse-performing index gains, par plus its return; if either index falls by up to 20%, par; otherwise, exposure to decline of worse-performing index beyond 20%
Initial levels:	34,063.10 for Dow, 4,357.86 for S&P
Buffer levels:	80% of initial levels
Pricing date:	March 16
Settlement date:	March 21
Agent:	Goldman Sachs & Co. LLC
Fees:	1.2%
Cusip:	40057LHX2

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