Obligation Goldman Sachs Global Finance 9.1% ( XS2105967801 ) en KZT

Goldman Sachs Global Finance

100 % ▲

Jersey

XS2105967801 ( en KZT )

9.1% par an ( paiement annuel )

14/09/2023 - Obligation échue

Prospectus brochure de l'obligation Goldman Sachs Finance Corp INTL XS2105967801 en KZT 9.1%, échue

1 000 000 KZT

3 000 000 000 KZT

Goldman Sachs Finance Corp. INTL est une filiale de Goldman Sachs qui opère à l'international, fournissant des services financiers tels que la banque d'investissement, la gestion d'actifs et la vente et négociation de valeurs mobilières.

L'Obligation émise par Goldman Sachs Global Finance ( Jersey ) , en KZT, avec le code ISIN XS2105967801, paye un coupon de 9.1% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 14/09/2023

PROHIBITION OF SALES TO EEA RETAIL INVESTORS The Securities are not intended to be offered,
sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail
investor in the European Economic Area. For these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID
II"); (ii) a customer within the meaning of Directive (EU) 2016/97, as amended, where that customer would not
qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor
as defined in Regulation (EU) 2017/1129 (as amended, the "EU Prospectus Regulation"). Consequently no key
information document required by Regulation (EU) No 1286/2014 (as amended, the "EU PRIIPs Regulation")
for offering or selling the Securities or otherwise making them available to retail investors in the European
Economic Area has been prepared and therefore offering or selling the Securities or otherwise making them
available to any retail investor in the European Economic Area may be unlawful under the EU PRIIPs Regulation.
Notwithstanding the above, if the Issuer subsequently prepares and publishes a key information document under
the EU PRIIPs Regulation in respect of the Securities, then the prohibition on the offering, sale or otherwise
making available the Securities to a retail investor in the European Economic Area as described above shall no
longer apply.
PROHIBITION OF SALES TO UK RETAIL INVESTORS The Securities are not intended to be offered,
sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail
investor in the United Kingdom. For these purposes, a retail investor means a person who is one (or more) of: (i)
a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 (as amended, the "EUWA"); or (ii) a customer within
the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, the "FSMA") and
any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would
not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it
forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of
Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA and regulations made
thereunder (the "UK Prospectus Regulation"). Consequently no key information document required by
Regulation (EU) No 1286/2014 as it forms part of UK domestic law by virtue of the EUWA (as amended, the
"UK PRIIPs Regulation") for offering or selling the Securities or otherwise making them available to retail
investors in the United Kingdom has been prepared and therefore offering or selling the Securities or otherwise
making them available to any retail investor in the United Kingdom may be unlawful under the UK PRIIPs
Regulation. Notwithstanding the above, if the Issuer subsequently prepares and publishes a key information
document under the UK PRIIPs Regulation in respect of the Securities, then the prohibition on the offering, sale
or otherwise making available the Securities to a retail investor in the United Kingdom as described above shall
no longer apply.
The Notes may only be publicly offered and the Offering Circular and the Pricing Supplement as well as any other
offering or marketing material relating to the Notes may only be publicly offered to investors in Switzerland
pursuant to an exception from the prospectus requirement under the Swiss Financial Services Act ("FinSA"), as
such terms are defined under the FinSA. Neither this document nor the Offering Circular nor any other document
related to the Notes constitute a prospectus with the meaning of the FinSA and no prospectus pursuant to the
FinSA will be prepared in connection with such public offering of the Notes.
GOLDMAN SACHS FINANCE CORP INTERNATIONAL LTD
Legal Entity Identifier (LEI): 549300KQWCT26VXWW684
Series P Programme for the issuance
of Warrants, Notes and Certificates
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Listing of KZT 3,000,000,000 Two-Year USD-Settled 9.10% p.a. Fixed Rate Notes, due September 14,
2023
(the "Notes" or the "Securities")
(ISIN: XS2105967801)
Guaranteed by The Goldman Sachs Group, Inc. ("GSG" or the "Guarantor")
This Listing Prospectus is prepared in conjunction with the Securities issued by Goldman Sachs Finance Corp
International Ltd (the "Issuer" or "GSFCI") under its Series P Programme for the issuance of Warrants, Notes
and Certificates (the "Programme") and guaranteed by the Guarantor under the GSG Guaranty (as defined in the
Offering Circular). This Listing Prospectus is not a prospectus published in accordance with the requirements of
the Prospectus Regulation (defined below). This Listing Prospectus constitutes a prospectus for the purpose of the
Luxembourg Law dated July 16, 2019 on prospectuses for securities.
This Listing Prospectus, together with the documents incorporated by reference herein, comprises the listing
prospectus approved by the Luxembourg Stock Exchange required for the listing and admission to trading of the
Securities on Luxembourg Stock Exchange's Euro MTF market. Full information on the Issuer, the Guarantor and
the issue of the Securities is only available on the basis of the combination of the provisions set out within this
Listing Prospectus and the information incorporated by reference herein. This Listing Prospectus may be used
only for the purposes for which it has been published.
Responsibility Statement: Each of the Issuer and the Guarantor accepts responsibility for the information
contained in this Listing Prospectus and confirms that, having taken all reasonable care to ensure that such is the
case, the information contained in this Listing Prospectus is, to the best of their knowledge, in accordance with
the facts and does not omit anything likely to affect its import.
No authorisation of any person to give any information other than as set out in this Listing Prospectus: No
person has been authorised to give any information or to make any representation other than as contained in this
Listing Prospectus in connection with the issue or sale of the Securities and, if given or made, such information
or representation must not be relied upon as having been authorised by the Issuer, the Guarantor or any of their
affiliates.
Statements in relation to prospects and financial or trading position: In this Listing Prospectus, where GSFCI
and GSG make statements that "there has been no material adverse change in the prospects" and "no significant
change in the financial or trading position" of GSFCI and GSG, respectively, references in these statements to the
"prospects" and "financial or trading position" of GSFCI and GSG are specifically to their respective ability to
meet their full payment obligations under the Securities (in the case of GSFCI) or the GSG Guaranty (in the case
of GSG) in a timely manner. Such statements are made in the "General Information" section of the Offering
Circular incorporated by reference herein. Material information about the respective financial condition and
prospects of GSFCI and GSG is included in each of GSFCI's and GSG's annual and interim reports, which are
incorporated by reference into this Listing Prospectus.
The date of this Listing Prospectus is December 30, 2021.
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TABLE OF CONTENTS
Page
RISK FACTORS ..................................................................................................................................................... 4
INCORPORATION BY REFERENCE .................................................................................................................. 5
PRICING SUPPLEMENT....................................................................................................................................... 8
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RISK FACTORS
An investment in the Securities involves complex risks. Prospective investors should refer to the risk factors set
forth in the section entitled "Risk Factors" (including the introductory paragraph thereto) contained on pages 25
to 69 (inclusive) of the Offering Circular (as defined in the section entitled "Incorporation by Reference" below).
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INCORPORATION BY REFERENCE
This Listing Prospectus should be read and construed in conjunction with the documents incorporated by reference
into this Listing Prospectus and each supplement (if any) to this Listing Prospectus.
The information contained in the following documents is hereby incorporated by reference into this Listing
Prospectus and deemed to form a part of this Listing Prospectus:
(i)
the offering circular dated November 20, 2020 relating to issues of non-equity securities under the Series
P Programme by Goldman Sachs International, Goldman, Sachs & Co. Wertpapier GmbH and Goldman
Sachs Finance Corp International Ltd (the "Original Offering Circular");
(ii)
Supplement No. 1 dated February 23, 2021 to the Original Offering Circular ("Supplement No. 1");
(iii)
Supplement No. 2 dated March 12, 2021 to the Original Offering Circular ("Supplement No. 2");
(iv)
Supplement No. 3 dated April 21, 2021 to the Original Offering Circular ("Supplement No. 3");
(v)
Supplement No. 4 dated May 21, 2021 to the Original Offering Circular ("Supplement No. 4");
(vi)
Supplement No. 5 dated July 22, 2021 to the Original Offering Circular ("Supplement No. 5");
(vii)
Supplement No. 6 dated August 20, 2021 to the Original Offering Circular ("Supplement No. 6");
(viii) Supplement No. 7 dated October 14, 2021 to the Original Offering Circular ("Supplement No. 7");
(ix)
Supplement No. 8 dated November 17, 2021 to the Original Offering Circular ("Supplement No. 8"); and,
and the Original Offering Circular as so supplemented, the "Offering Circular".
The table below sets out the relevant page references for the information incorporated into this Listing Prospectus
by reference.
Information incorporated by reference
Page reference
From the Offering Circular
Risk Factors
Pages 25 - 69
Documents Incorporated by Reference
Pages 70 - 77
General Terms and Conditions of the Notes
Pages 131 - 185
Book-Entry Clearing Systems
Pages 190 - 193
Use of Proceeds
Page 207
Goldman Sachs Finance Corp International Ltd
Pages 215 - 216
The Goldman Sachs Group, Inc.
Pages 217 - 218
Taxation
Pages 219 - 284
Selling Restrictions
Pages 285 - 312
Offers and Sales and Distribution Arrangements
Page 313
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General Information
Pages 314 - 317
Forms of the Notes
Pages 318 - 319
Form of GSG Guaranty
Pages 320 - 322
Form of the Pricing Supplement (Notes)
Pages 367 - 412
Annex 4 FX Linked Product Supplement
Pages 540 - 559
Index of Defined Terms
Pages 658 - 667
From Supplement No. 1 to the Offering Circular
Amendments to the section entitled "Risk Factors"
Pages 4 - 7
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 7 - 11
Amendments to the section entitled "General Terms and Conditions of the Notes"
Pages 11 - 12
Amendments to the section entitled "Taxation"
Pages 12 - 13
Amendments to the section entitled "Selling Restrictions"
Pages 13 - 22
Amendments to the section entitled "General Information"
Pages 22 - 23
Amendments to the section entitled "Form of Pricing Supplement (Notes)"
Pages 26 - 28
From Supplement No. 2 to the Offering Circular
Amendments to the section entitled "Risk Factors"
Pages 3 - 4
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 4 - 9
Amendments to the section entitled "General Information"
Pages 9 - 11
From Supplement No. 3 to the Offering Circular
Amendments to the section entitled "Risk Factors"
Pages 3 - 24
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 24 - 32
Amendments to the section entitled "General Information"
Pages 33 - 35
From Supplement No. 4 to the Offering Circular
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 2 - 11
Amendments to the section entitled "Goldman Sachs International"
Page 11
Amendments to the section entitled "General Information"
Pages 11 - 14
From Supplement No. 5 to the Offering Circular
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 2 - 7
Amendments to the section entitled "Goldman Sachs International"
Pages 23 - 26
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Amendments to the section entitled "General Information"
Pages 26 - 28
From Supplement No. 6 to the Offering Circular
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 2 - 9
Amendments to the section entitled "General Information"
Pages 9 - 11
From Supplement No. 7 to the Offering Circular
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 2 - 5
Amendments to the section entitled "General Information"
Pages 5 - 7
Amendments to the section entitled "Pricing Supplement (Notes)"
Pages 8 - 9
From Supplement No. 8
Amendments to the section entitled "Documents Incorporated by Reference"
Pages 2 - 10
Amendments to the section entitled "General Information"
Pages 10 - 13
Investors who have not previously reviewed the information contained in the above documents should do so in
connection with their evaluation of the Securities. Any statement contained in a document, all or the relevant
portion of which is incorporated by reference into this Listing Prospectus, shall be deemed to be modified or
superseded for the purpose of this Listing Prospectus to the extent that a statement contained in this Listing
Prospectus or in any supplement to this Listing Prospectus, including any documents incorporated therein by
reference, modifies or supersedes such earlier statement. The documents incorporated by reference will be
available on the Luxembourg Stock Exchange's website (www.bourse.lu).
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PRICING SUPPLEMENT
Pricing Supplement dated September 14, 2021
GOLDMAN SACHS FINANCE CORP INTERNATIONAL LTD
Legal Entity Identifier (LEI): 549300KQWCT26VXWW684
Series P Programme for the issuance of Warrants, Notes and Certificates
___________________________________________________________________
Issue of KZT 3,000,000,000 Two-Year USD-Settled 9.10% p.a. Fixed Rate Notes, due September 14, 2023
(the "Notes" or the "Securities")
___________________________________________________________________
Guaranteed by The Goldman Sachs Group, Inc. ("GSG" or the "Guarantor")
The Securities are not bank deposits and are not insured or guaranteed by the UK Financial Services
Compensation Scheme, the Jersey Depositors Compensation Scheme, the United States Federal Deposit
Insurance Corporation, the U.S. Deposit Insurance Fund or any other government or governmental or
private agency or deposit protection scheme in any jurisdiction.
The payment obligations of the Issuer in respect of the Securities are guaranteed by the Guarantor (the
"Guarantee"). The Guarantee will rank pari passu with all other unsecured and unsubordinated
indebtedness of the Guarantor.
The Offering Circular referred to below (as completed by this Pricing Supplement) has been prepared on the basis
that any offer of Notes in any member state of the European Economic Area or in the United Kingdom will be
made pursuant to an exemption under Regulation (EU) 2017/1129 (as amended, the "EU Prospectus Regulation")
or Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA and regulations made
thereunder (the "UK Prospectus Regulation"), as applicable, from the requirement to publish a prospectus for
offers of the Notes. Accordingly any person making or intending to make an offer of the Notes in any member
state of the European Economic Area or in the United Kingdom may only do so in circumstances in which no
obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the EU Prospectus
Regulation or the UK Prospectus Regulation in relation to such offer. Neither the Issuer nor any Dealer has
authorised, nor do they authorise, the making of any offer of Notes in any other circumstances.
CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the General Note Conditions and the
applicable Specific Product Conditions each set forth in the Offering Circular dated November 20, 2020 (the
"Offering Circular") as supplemented by the supplement(s) to the Offering Circular up to, and including,
September 14, 2021. This document must be read in conjunction with such Offering Circular as so supplemented.
Full information on the Issuer, the Guarantor and the offer of the Notes is only available on the basis of the
combination of this Pricing Supplement and the Offering Circular as so supplemented. The Offering Circular and
the supplement(s) to the Offering Circular are available for viewing at www.bourse.lu and during normal business
hours at the registered office of the Issuer, and copies may be obtained from the specified office of the Luxembourg
Paying Agent.
1.
(i)
Issuer:
Goldman Sachs Finance Corp International Ltd.
(ii)
Guarantor:
The Goldman Sachs Group, Inc.
2.
(i)
ISIN:
XS2105967801.
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(ii)
Common Code:
210596780.
(iii) Valoren:
112543864.
(iv)
Tranche Number:
One.
(v)
PIPG Tranche Number:
508653.
3.
Specified Currency or Currencies:
Kazakhstan Tenge ("KZT"), being the lawful currency
of the Republic of Kazakhstan, provided that all
payments in respect of the Notes will be made in United
States Dollar ("USD").
KZT shall be deemed to include any lawful successor
currency of the Republic of Kazakhstan.
See paragraph 17 (Fixed Rate Note Conditions) and
paragraph 25 (Final Redemption Amount of each Note)
below.
4.
Aggregate Nominal Amount:
(i)
Series:
KZT 3,000,000,000.
(ii)
Tranche:
KZT 3,000,000,000.
5.
Issue Price:
100 per cent. (100%) of the Aggregate Nominal
Amount.
The Issue Price in respect of each Note (of the Specified
Denomination) shall be paid in USD and shall be an
amount equal to the product of (i) the Calculation
Amount, multiplied by (ii) 100 per cent. (100%)
(expressed as 1.00), and converted into USD using the
FX Rate (Initial).
Where "FX Rate (Initial)" means KZT 426.40 per USD
1.00.
6.
Inducements, commissions and/or other Not Applicable.
fees:
7.
(i)
Specified Denomination:
KZT 1,000,000.
(ii)
Calculation Amount:
KZT 1,000,000.
8.
Issue Date:
September 14, 2021.
9.
Maturity Date:
The Maturity Date shall be the later to occur of:
(i)
September 14, 2023 (the "Scheduled Maturity
Date"), or, if such day is not a Payment Business
Day, the next following Payment Business Day;
and
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(ii)
the second Payment Business Day following the
Final Valuation Date.
The postponement referred to in paragraph (i) of the
definition of "Maturity Date" in General Note Condition
2(a) (Definitions) shall not apply.
10.
Underlying Asset(s):
The FX Rate (as defined in paragraph 33 below).
VALUATION DATE PROVISIONS
11.
Valuation Date(s):
As defined in the Schedule (Additional Terms) hereto.
12.
Initial Valuation Date(s):
Not Applicable.
13.
Averaging Date(s):
Not Applicable.
14.
Initial Averaging Date(s):
Not Applicable.
INTEREST PROVISIONS
15.
Interest Basis:
9.10 per cent. (9.10%) Fixed Rate.
16.
Interest Commencement Date:
Issue Date.
17.
Fixed Rate Note Conditions:
Applicable.
(i)
Fixed Rate of Interest:
9.10 per cent. (9.10%) per annum payable annually in
arrear (expressed as 0.0910 for the purposes of
calculating the Fixed Coupon Amount).
(ii)
Interest Payment Date(s):
The Interest Payment Dates shall be:
(i)
the later to occur of (a) September 14, 2022 (the
"Scheduled Interest Payment Date"), or, if such
day is not a Payment Business Day, the next
following Payment Business Day, and (b) the
second Payment Business Day following the
Valuation Date scheduled to fall immediately
prior to such Scheduled Interest Payment Date;
and
(ii)
the Maturity Date.
The Interest Periods shall be "Unadjusted".
(iii)
Fixed Coupon Amount:
Unless the Notes are redeemed early, are purchased and
cancelled, or are adjusted, in each case in accordance
with the Conditions, the Fixed Coupon Amount payable
in respect of each Note (of the Specified Denomination)
on each Interest Payment Date shall be determined by
the Calculation Agent as being equal to the product of
(i) the Specified Denomination, multiplied by (ii) the
Fixed Rate of Interest (as specified in paragraph 17(i)
above), and further multiplied by (iii) the Day Count
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