New Issue: GS Finance sells $500,000 digital index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, March 6 – GS Finance Corp. priced $500,000 of 0% digital index-linked notes due Nov. 26, 2025 linked to 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 index return is at least 70% of its initial level, the payout at maturity will be par plus 27.1%. Investors will lose 1% for every 1% that the index may decline beyond 30%.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Digital index-linked notes
Underlying index:	S&P 500
Amount:	$500,000
Maturity:	Nov. 26, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is at least 70% of its initial level, par plus 27.1%; 1% loss for every 1% that index may decline beyond 30%
Initial index level:	4,003.58
Threshold level:	70% of initial level
Pricing date:	Nov. 22, 2022
Settlement date:	Nov. 30, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	2.25%
Cusip:	40057NZD2

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