New Issue: GS Finance prices $347,000 notes linked to S&P 500 Daily Risk Control 5%

By Angela McDaniels

Tacoma, Wash., Nov. 16 – GS Finance Corp. priced $347,000 of 0% index-linked notes due May 5, 2025 linked to the S&P 500 Daily Risk Control 5% USD Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive or zero, the payout at maturity will be par plus 200% of the index return. If the index return is negative, the payout will be par plus the absolute value of the index return, subject to a maximum downside settlement amount of $2,000 per $1,000 principal amount of notes.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying index:	S&P 500 Daily Risk Control 5% USD Excess Return index
Amount:	$347,000
Maturity:	May 5, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive or zero, par plus 200% of index return; if index return is negative, par plus absolute value of index return, subject to maximum downside settlement amount of $2,000 per $1,000 principal amount of notes
Initial level:	157.56
Pricing date:	Oct. 31, 2022
Settlement date:	Nov. 3, 2022
Underwriter:	Goldman Sachs & Co. LLC
Fees:	0.62%
Cusip:	40057NJ65

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