New Issue: GS Finance prices $505,000 absolute return trigger gears tied to Dow, S&P

Chicago, March 18 – GS Finance Corp. priced $505,000 of 0% absolute return trigger gears due July 14, 2025 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange.

Investors will receive par plus 3% if both indexes close above 113.5% of their initial levels or if either index declines more than 13.5%.

If neither of these two events occur, investors will receive the greater of par plus 3% or par plus the absolute lesser performing underlier return.

Goldman Sachs Group, Inc. is the guarantor.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Absolute return trigger gears
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$505,000
Maturity:	July 14, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3% if both indexes finish above 113.5% of initial levels or if either index declines more than 13.5%; otherwise, par plus absolute lesser performing underlier return with minimum payout of par plus 3%
Initial levels:	38,989.83 for Dow, 5,130.95 for S&P
Upper barrier:	113.5% of initial levels
Lower barrier:	86.5% of initial levels
Pricing date:	March 4
Settlement date:	March 7
Agent:	Goldman Sachs & Co. LLC
Fees:	0.7%
Cusip:	40057YL27

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