New Issue: GS prices $155,000 leveraged barrier notes linked to three indexes

By Angela McDaniels

Tacoma, Wash., May 1 – GS Finance Corp. priced $155,000 of 0% index-linked notes due June 4, 2027 linked to the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of each underlying index is positive, the payout at maturity will be par plus 1.5 times the return of the least-performing index. Investors will receive par if the least-performing index declines by up to 30%. Otherwise, investors will be exposed to the decline of the least-performing index.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
Amount:	$155,000
Maturity:	June 4, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each underlying index is positive, par plus 1.5 times return of least-performing index; par if least-performing index declines by up to 30%; otherwise, 1% loss for every 1% that least-performing index declines
Initial levels:	32,990.12 for Dow, 12,642.10 for Nasdaq and 4,132.15 for S&P
Barrier levels:	70% of initial levels
Pricing date:	May 31, 2022
Settlement date:	June 3, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057LXR7

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