New Issue: GS Finance sells $275,000 autocallable index-linked notes on S&P, Russell

Chicago, Feb. 12 – GS Finance Corp. priced $275,000 of 0% autocallable index-linked notes due June 2, 2028 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes at or above its initial level on any quarterly call observation date starting after one year, the notes will be called at par plus a 6.3% annualized call premium.

If the notes are not called and each index finishes at or above 90% of its initial level, the payout will be par plus 31.5%.

If any index falls by more than 10%, investors will have a 1% loss for each 1% decline beyond the 10% buffer.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable index-linked notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$275,000
Maturity:	June 2, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above buffer level, par plus 31.5%; otherwise, 1% loss for each 1% decline beyond 10% buffer
Call:	If each index closes at or above initial level on any quarterly call observation date starting after one year, par plus 6.3% annualized call premium
Initial index levels:	4,151.28 for S&P, 1,754.605 for Russell
Buffer levels:	90% of initial levels
Pricing date:	May 25, 2023
Settlement date:	May 31, 2023
Agent:	Goldman Sachs & Co. LLC
Fees:	3.5%
Cusip:	40057RTB4

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