New Issue: GS Finance prices $1.63 million index-linked notes tied to S&P, Dow

By William Gullotti

Buffalo, N.Y., April 5 – GS Finance Corp. priced $1.63 million of 0% index-linked notes due April 1, 2027 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, 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 200% of the laggard index’s return, capped at par plus 60.6%.

If the least performing index falls by up to 30%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$1,633,000
Maturity:	April 1, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 200% of the laggard index’s return, capped at par plus 60.6%; if any index falls but the final underlier level of each is greater than or equal to the 70% trigger buffer level, par; if any index falls by more than 30%, investors will be fully exposed to the decline of the worst performing index from its initial level
Initial levels:	3,977.53 for S&P, 32,432.08 for Dow
Trigger buffer levels:	70% of initial levels
Pricing date:	March 27
Settlement date:	March 30
Agent:	Goldman Sachs & Co. LLC
Fees:	0.91%
Cusip:	40057R2N7

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