New Issue: GS Finance prices $520,000 equity-linked notes tied to Qualcomm

Chicago, May 1 – GS Finance Corp. priced $520,000 of 0% equity-linked notes due June 20, 2023 linked to the stock performance of Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the stock finishes at or above its initial value, the payout at maturity will be par plus the stock return, capped at par plus 44%.

If the stock finishes below its initial value but not lower than 70% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the stock from its initial level.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Equity-linked notes
Underlying stock:	Qualcomm Inc.
Amount:	$520,000
Maturity:	June 20, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If stock finishes at or above initial value, par plus stock return, capped at par plus 44%; if stock declines but finishes at or above 70% of initial value, par; otherwise, lose 1% for every 1% decline from initial level
Initial price:	$133.20
Trigger buffer level:	70% of initial level
Pricing date:	June 10, 2022
Settlement date:	June 15, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.75%
Cusip:	40057MCB3

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