Form 424B2 GOLDMAN SACHS GROUP INC



News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.


Filed Pursuant to Rule 424(b)(2)

Registration Statement No. 333-253421

 

 

 

 

GS Finance Corp.

$1,355,000

Index-Linked Notes due 2026

guaranteed by

The Goldman Sachs Group, Inc.

The notes do not bear interest. The amount that you will be paid on your notes on the stated maturity date (June 15, 2026) is based on the lesser performing of the S&P 500® Index, the Russell 2000® Index and the EURO STOXX 50® Index as measured from the trade date (June 10, 2021) to and including the determination date (June 10, 2026).  

If the index return (the percentage change in the final level of the index on the determination date from the initial level of the index on the trade date) of each index is positive or zero, the return on your notes will be positive. The initial level is 4,239.18 with respect to the S&P 500® Index, 2,311.409 with respect to the Russell 2000® Index and 4,096.07 with respect to the EURO STOXX 50® Index.

If the index return of any index is negative and the final level of each index is equal to or greater than 70% of its initial level, the return on your notes will be the absolute value of the lesser performing index return (e.g., if the lesser performing index return is -10%, the return on your notes will be +10%).                

If the index return of any index is negative and the final level of any index is less than 70% of its initial level, the return on your notes will be the lesser performing index return. In such case, the return on your notes will be negative.

For example, if the lesser performing index return is -30%, you will receive a positive return of 30% on your notes; however, if the lesser performing index return is -31%, you will lose 31% of the value of your notes (a very significant negative change in the return on your notes based on a small negative change in the lesser performing index return). You could receive significantly less than the face amount of your notes at maturity.

The amount that you will be paid on your notes at maturity is based on the performance of the index with the lowest index return. At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to:

if the index return of each index is greater than or equal to 0% (the final level of each index is greater than or equal to its initial level), the greater of (i) the threshold settlement amount of $1,440 and (ii) the sum of (a) $1,000 plus (b) the product of (1) $1,000 times (2) the lesser performing index return;

if the index return of any index is less than 0%, but the index return of each index is greater than or equal to -30% (the final level of any index is less than its initial level but the final level of each index is greater than or equal to 70% of its initial level), the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) the absolute value of the lesser performing index return; or

if the index return of any index is less than -30% (the final level of any index is less than 70% of its initial level), the sum of (i) $1,000 plus (ii) the product of (a) the lesser performing index return times (b) $1,000. You will receive less than 70% of the face amount of your notes.

You should read the disclosure herein to better understand the terms and risks of your investment, including the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. See page PS-10.

The estimated value of your notes at the time the terms of your notes are set on the trade date is equal to approximately $931 per $1,000 face amount. For a discussion of the estimated value and the price at which Goldman Sachs & Co. LLC would initially buy or sell your notes, if it makes a market in the notes, see the following page.

Original issue date:

June 15, 2021

Original issue price:

100% of the face amount

Underwriting discount:

4.125% of the face amount

Net proceeds to the issuer:

95.875% of the face amount

Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. The notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.

 

Goldman Sachs & Co. LLC

Pricing Supplement No. 2,814 dated June 10, 2021.

 

 


 

 

The issue price, underwriting discount and net proceeds listed above relate to the notes we sell initially. We may decide to sell additional notes after the date of this pricing supplement, at issue prices and with underwriting discounts and net proceeds that differ from the amounts set forth above. The return (whether positive or negative) on your investment in notes will depend in part on the issue price you pay for such notes.

 

GS Finance Corp. may use this prospectus in the initial sale of the notes. In addition, Goldman Sachs & Co. LLC or any other affiliate of GS Finance Corp., may use this prospectus in a market-making transaction in a note after its initial sale. Unless GS Finance Corp. or its agent informs the purchaser otherwise in the confirmation of sale, this prospectus is being used in a market-making transaction.

 

Estimated Value of Your Notes

The estimated value of your notes at the time the terms of your notes are set on the trade date (as determined by reference to pricing models used by Goldman Sachs & Co. LLC (GS&Co.) and taking into account our credit spreads) is equal to approximately $931 per $1,000 face amount, which is less than the original issue price.  The value of your notes at any time will reflect many factors and cannot be predicted; however, the price (not including GS&Co.s customary bid and ask spreads) at which GS&Co. would initially buy or sell notes (if it makes a market, which it is not obligated to do) and the value that GS&Co. will initially use for account statements and otherwise is equal to approximately the estimated value of your notes at the time of pricing, plus an additional amount (initially equal to $27.75 per $1,000 face amount).

Prior to September 10, 2021, the price (not including GS&Co.’s customary bid and ask spreads) at which GS&Co. would buy or sell your notes (if it makes a market, which it is not obligated to do) will equal approximately the sum of (a) the then-current estimated value of your notes (as determined by reference to GS&Co.’s pricing models) plus (b) any remaining additional amount (the additional amount will decline to zero on a straight-line basis from the time of pricing through September 9, 2021). On and after September 10, 2021, the price (not including GS&Co.’s customary bid and ask spreads) at which GS&Co. would buy or sell your notes (if it makes a market) will equal approximately the then-current estimated value of your notes determined by reference to such pricing models.

 

About Your Prospectus

 

The notes are part of the Medium-Term Notes, Series F program of GS Finance Corp. and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. This prospectus includes this pricing supplement and the accompanying documents listed below. This pricing supplement constitutes a supplement to the documents listed below, does not set forth all of the terms of your notes and therefore should be read in conjunction with such documents:

General terms supplement no. 2,012 dated March 22, 2021

Underlier supplement no. 20 dated May 25, 2021

Prospectus supplement dated March 22, 2021

Prospectus dated March 22, 2021

The information in this pricing supplement supersedes any conflicting information in the documents listed above. In addition, some of the terms or features described in the listed documents may not apply to your notes.

We refer to the notes we are offering by this pricing supplement as the “offered notes” or the “notes”. Each of the offered notes has the terms described below. Please note that in this pricing supplement, references to “GS Finance Corp.”, “we”, “our” and “us” mean only GS Finance Corp. and do not include its subsidiaries or affiliates, references to “The Goldman Sachs Group, Inc.”, our parent company, mean only The Goldman Sachs Group, Inc. and do not include its subsidiaries or affiliates and references to “Goldman Sachs” mean The Goldman Sachs Group, Inc. together with its consolidated subsidiaries and affiliates, including us. The notes will be issued under the senior debt indenture, dated as of October 10, 2008, as supplemented by the First Supplemental Indenture, dated as of February 20, 2015, each among us, as issuer, The Goldman Sachs Group, Inc., as guarantor, and The Bank of New York Mellon, as trustee….



Read More:
Form 424B2 GOLDMAN SACHS GROUP INC