New Issue: GS Finance sells $3.68 million index-linked notes on S&P SmallCap, S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 5 – GS Finance Corp. priced $3.68 million of 0% index-linked notes due April 27, 2023 tied to the S&P SmallCap 600 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 worse-performing index gains, the payout will be par plus its return, capped at 14.5%.

If either index falls by up to 10%, the payout will be par plus 1.5 times the absolute value of the lesser performing return.

Otherwise, investors will lose 1% for every 1% that the worse-performing index falls beyond 10%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P SmallCap 600 and S&P 500
Amount:	$3,682,000
Maturity:	April 27, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If worse-performing index gains, par plus its return, capped at 14.5%; if either index falls by up to 10%, par plus 1.5 times absolute value of lesser performing return; otherwise, exposure to decline of worse-performing index beyond 10%
Initial levels:	1,260.43 for S&P SmallCap, 4,271.78 for S&P 500
Buffer levels:	90% of initial levels
Pricing date:	April 22
Settlement date:	April 27
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057LTP6

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