New Issue: GS prices $388,000 index-linked notes on Dow Select Dividend, S&P 500

Chicago, Aug. 18 – GS Finance Corp. priced $388,000 of 0% index-linked notes due Aug. 1, 2024 tied to the lesser performing of the S&P 500 index and the Dow Jones U.S. Select Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the lesser performing index closes at or above its initial level, the payout at maturity will be par plus the return of the lesser performer, capped at 40%.

If the lesser performing index falls but finishes at or above 70% of its initial level, investors will receive par plus the absolute value of its return. Otherwise, investors will be fully exposed to the loss of the lesser performing index from the initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones U.S. Select Dividend index and S&P 500 index
Amount:	$388,000
Maturity:	Aug. 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain of lesser performing index, capped at 40%; par plus absolute value of lesser performing index return if it falls but not below barrier level; otherwise, full exposure to loss of lesser performer
Initial levels:	869.66 for Dow Select, 4,130.29 for S&P
Barrier levels:	70% of initial levels
Pricing date:	July 29, 2022
Settlement date:	Aug. 3, 2022
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057MMC0

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