New Issue: GS Finance sells $20,000 index-linked notes on S&P 500, S&P Value

By Kiku Steinfeld

Chicago, March 5 – GS Finance Corp. priced $20,000 of 0% index-linked notes due Aug. 28, 2025 tied to the S&P 500 index and the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout will be par plus the return of the lesser performer.

If either index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 10%.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 index and S&P 500 Value index
Amount:	$20,000
Maturity:	Aug. 28, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes above its initial level, par plus return of lesser performer; if either index falls by up to 10%, par; otherwise, 1% loss for every 1% decline of lesser performing index beyond 10%
Initial index levels:	3,881.37 for S&P, 1,339.08 for S&P Value
Buffer levels:	90% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Agent:	Goldman Sachs & Co. LLC
Fees:	4.6%
Cusip:	40057FBQ6

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