New Issue: GS Finance sells $431,000 index-linked notes on two Value indexes

By William Gullotti

Buffalo, N.Y., Sept. 21 – GS Finance Corp. priced $431,000 of 0% index-linked notes due July 5, 2023 linked to the least performing of the S&P 500 Value index and the Russell 2000 Value 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 index is zero or positive, the payout at maturity will be par plus the return of the least performing index, subject to a maximum payout of par plus 70%.

If the least performing index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer below the buffer.

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 Value index, Russell 2000 Value index
Amount:	$431,000
Maturity:	July 5, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each index is zero or positive, par plus the return of the least performing index capped at 70%; if any index falls but the final underlier level of each is greater than or equal to the 90% trigger buffer level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 10%
Initial levels:	1,451.51 for S&P Value, 2,474.333 for Russell Value
Trigger buffer levels:	90% of initial levels
Pricing date:	June 29
Settlement date:	July 2
Agent:	Goldman Sachs & Co. LLC
Fees:	0.8%
Cusip:	40057HNT3

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