New Issue: GS prices $673,000 leveraged buffered notes linked to energy fund

By Angela McDaniels

Tacoma, Wash., May 1 – GS Finance Corp. priced $673,000 of 0% market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due June 6, 2024 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 1.5 times the ETF return, subject to a maximum return of 37%. Investors will receive par if the ETF declines by up to 15% and will lose 1% for every 1% that it declines beyond 15%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter. Wells Fargo Securities, LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Market linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying ETF:	Energy Select Sector SPDR fund
Amount:	$673,000
Maturity:	June 6, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 1.5 times ETF return, subject to 37% cap; par if ETF declines by up to 15%; 1% loss for every 1% that ETF declines beyond 15%
Initial share price:	$87.20
Buffer level:	85% of initial share price
Pricing date:	May 31, 2022
Settlement date:	June 6, 2022
Underwriter:	Goldman Sachs & Co. LLC
Agent:	Wells Fargo Securities, LLC
Fees:	2.84%
Cusip:	40057LZD6

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