New Issue: GS Finance sells $914,000 index-linked notes on Nasdaq, Dow

Chicago, May 18 – GS Finance Corp. priced $914,000 of 0% index-linked notes due June 27, 2024 linked to the least performing of the Nasdaq-100 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 1.5 times the return of the least performing index, capped at par plus 40.7%.

If the least performing index falls by up to 20%, the payout will be par plus the absolute value of that index. Otherwise, investors will be fully exposed to the decline of the worst performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Nasdaq-100 index, Dow Jones industrial average
Amount:	$914,000
Maturity:	June 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus 1.5 times the return of the least performing index, capped at par plus 40.7%; if any index falls but the final underlier level of each is greater than or equal to the trigger buffer level, par plus absolute value of worst performer; otherwise, full exposure to losses of worst performer
Initial levels:	12,105.85 for Nasdaq, 31,500.68 for Dow
Trigger buffer levels:	80% of initial levels
Pricing date:	June 24, 2022
Settlement date:	June 29, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	2.55%
Cusip:	40057MG37

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