New Issue: GS Finance sells $2.23 million underlier-linked notes on index, ETFs

By Wendy Van Sickle

Columbus, Ohio, May 5 – GS Finance Corp. priced $2.23 million of 0% underlier-linked notes due May 1, 2025 linked to the Technology Select Sector SPDR fund, the SPDR S&P Biotech ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each underlier is zero or positive, the payout at maturity will be par plus 2.15 times the return of the least performer.

If the return of each underlier is negative but greater than or equal to negative 40%, the payout will be par.

If any underlier falls by more than 40%, investors will be fully exposed to the decline of the least performer.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Underlier-linked notes
Underlying assets:	Technology Select Sector SPDR fund, SPDR S&P Biotech ETF, Nasdaq-100 index
Amount:	$2,228,000
Maturity:	May 1, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each underlier is zero or positive, par plus 2.15 times the return of the least performer; if the return of each underlier is negative but greater than or equal to negative 40%, par; if any underlier falls by more than 40%, full exposure to the decline of the least performer
Initial levels:	$88.20 for tech fund, $95.27 for biotech ETF, 8,677.6 for Nasdaq
Pricing date:	April 28
Settlement date:	May 1
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.95%
Cusip:	40057E4X2

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