New Issue: GS Finance prices $516,000 leveraged digital index-linked notes on MSCI EM

By Kiku Steinfeld

Chicago, May 3 – GS Finance Corp. priced $516,000 of 0% leveraged digital index-linked notes due Dec. 31, 2026 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the index finishes at or above 80% of its initial level, the payout at maturity will be the greater of par plus 25% and par plus 1.5 times the index return, subject to a maximum payout of 76%. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Leveraged digital index-linked notes
Underlying index:	MSCI Emerging Markets index
Amount:	$516,000
Maturity:	Dec. 31, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above threshold level, par plus greater of 25% and 1.5 times index return, capped at par plus 76%; otherwise, 1% loss for every 1% decline from initial level
Initial index level:	960.18
Threshold level:	80% of initial level
Pricing date:	Dec. 28, 2022
Settlement date:	Jan. 3, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057PAW2

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