New Issue: GS Finance prices $2 million leveraged notes linked to MSCI Emerging Markets

By Angela McDaniels

Tacoma, Wash., Nov. 15 – GS Finance Corp. priced $2 million of 0% leveraged index-linked notes due Nov. 4, 2027 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus two times the index return, subject to a maximum settlement amount of $2,183.5 for each $1,000 principal amount of notes. If the index return is negative but not below negative 25%, the payout will be par. If the index return is below negative 25%, investors will be fully exposed to the index’s decline.

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:	Leveraged index-linked notes
Underlying index:	MSCI Emerging Markets index
Amount:	$1,995,000
Maturity:	Nov. 4, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus two times index return, subject to maximum settlement amount of $2,183.5 per $1,000 principal amount of notes; if index return is negative but not below negative 25%, par; if index return is below negative 25%, full exposure to index’s decline
Initial level:	848.16
Barrier level:	75% of initial level
Pricing date:	Oct. 31, 2022
Settlement date:	Nov. 3, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	3.25%
Cusip:	40057NQ59

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