New Issue: GS Finance prices $608,000 notes linked to Dow

Chicago, Feb. 11 – GS Finance Corp. priced $608,000 of 0% index-linked notes due May 25, 2028 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, capped at par plus 68%. If the final index level is less than or equal to the initial index level, the payout will be par.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the agents.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying index:	Dow Jones industrial average
Amount:	$608,000
Maturity:	May 25, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus index return, capped at par plus 68%; if final index level is less than or equal to initial index level, par
Initial level:	33,286.58
Pricing date:	May 22, 2023
Settlement date:	May 25, 2023
Agents:	Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.
Fees:	2.625%
Cusip:	40057RRW0

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