New Issue: GS Finance prices $40,000 leveraged notes linked to S&P 500 Daily Risk Control, CPI

By Angela McDaniels

Tacoma, Wash., March 27 – GS Finance Corp. priced $40,000 of 0% leveraged index-linked notes due July 3, 2026 linked to the S&P 500 Daily Risk Control 5% USD Excess Return index and the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.

If the S&P index finishes above its initial level, the payout at maturity will be par plus 130% of the index’s return. If the S&P index finishes at or below its initial level, the payout will be par. In either case, investors will also receive the increase in the Consumer Price Index, if any.

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 indexes:	S&P 500 Daily Risk Control 5% USD Excess Return index and Consumer Price Index
Amount:	$40,000
Maturity:	July 3, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If S&P index finishes above initial level, par plus 130% of index’s return; if S&P index finishes at or below initial level, par; in either case, investors will also receive increase in CPI, if any
Initial levels:	163.89 for S&P index and 303.363 for CPI
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Underwriter:	Goldman Sachs & Co. LLC
Fees:	1.25%
Cusip:	40057T4S0

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