New Issue: Goldman prices $165,000 basket-linked notes on indexes, ETF

Chicago, May 18 – GS Finance Corp. priced $165,000 of 0% notes due June 29, 2027 linked to a basket containing two indexes and an ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE ETF. The basket will be weighted based on performance with the best returning asset weighted 40%, the next best 35% and the lowest 25%.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the basket return is positive, the payout at maturity will be par plus the basket return, capped at par plus 100%.

Investors will receive par if the basket falls by up to 15% and will be exposed to the losses of the basket beyond the 15% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Basket-linked notes
Underlying basket:	S&P 500 index, Russell 2000 index and iShares MSCI EAFE ETF, weighted 40%, 35% and 25% based on best return to worst return
Amount:	$165,000
Maturity:	June 29, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus the basket return, capped at par plus 100%; par if basket falls by up to 15%; exposure to losses of basket beyond 15% buffer
Initial levels:	3,911.74 for S&P 500; 1,765.737 for Russell, $63.77 for ETF
Buffer level:	85% of initial level
Pricing date:	June 24, 2022
Settlement date:	June 29, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	4.125%
Cusip:	40057MGN3

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