New Issue: GS Finance prices $288,000 index-linked notes on S&P, Russell

Chicago, Feb. 13 – GS Finance Corp. priced $288,000 of 0% index-linked notes due Jan. 3, 2029 linked to the lesser performing of the Russell 2000 index and the S&P 500 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 finishes at or above its initial level, the payout at maturity will be par plus 1.25 times the return of that index.

Investors will receive par plus the absolute value of the return of the worst performer if that index declines but finishes above 60% of its initial level.

Otherwise, investors will be fully exposed to the losses of the worst performer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$288,000
Maturity:	Jan. 3, 2029
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.25 times return of worst performing index if both indexes finish positive; par plus absolute value of return of worst performer if that index declines but not more than 40%; otherwise, 1% loss for each 1% decline from initial level
Initial index levels:	4,783.35 for S&P, 2,058.335 for Russell
Barrier levels:	60% of initial levels
Pricing date:	Dec. 28, 2023
Settlement date:	Jan. 3, 2024
Agent:	Goldman Sachs & Co. LLC
Fees:	1.125%
Cusip:	40057XDW2

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