New Issue: GS Finance prices $64,000 absolute return trigger notes linked to S&P 500

By Kiku Steinfeld

Chicago, Nov. 1 – GS Finance Corp. priced $64,000 of 0% absolute return trigger notes due April 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s closing level increases or decreases by more than 30% from the initial index level on any day during the life of the notes, the payout at maturity will be par plus 12.25%. Otherwise, the payout will be par plus the absolute value of the index return, subject to a minimum payout of par and a maximum return of 30%.

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:	Absolute return trigger notes
Underlying index:	S&P 500 index
Amount:	$64,000
Maturity:	April 3, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index’s closing level increases or decreases by more than 30% from initial index level on any day during life of notes, par plus 12.25%; otherwise, par plus absolute value of index return, subject to minimum payout of par and maximum return of 30%
Initial level:	4,109.31
Pricing date:	March 31, 2023
Settlement date:	April 5, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	1%
Cusip:	40057PV74

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