Announcement Regarding Motif Indices

NEW YORK, NY, April 21, 2020 – The Goldman Sachs Group, Inc. (NYSE: GS) was notified by Motif Capital Management, Inc. (“Motif”) that on or about May 15th Motif will cease to serve as index provider for the Motif Capital Aging of America 7 ER Index, the Motif Capital National Defense 7 ER Index, the Motif Capital National Defense Price Return Index and the Motif Capital Artificial Intelligence 8 ER Index, which are referenced in certain structured products issued by GS Finance Corp., Goldman Sachs Bank USA and Goldman Sachs International (together with The Goldman Sachs Group, Inc., “Goldman Sachs”), and the Motif Capital Aging of America Index, which is used in calculating the Goldman Sachs Motif Aging of America Dynamic Balance Index.

In connection with this announcement, Goldman Sachs is exploring alternative index provider options for these Motif indices. Goldman Sachs expects that Solactive AG will remain the calculation agent for these Motif indices and will continue to calculate and publish the values of these indices.

Motif Investing is a registered broker dealer. Motif Capital Management, Inc., is an SEC-registered investment adviser and a separate, wholly-owned subsidiary of Motif Investing, Inc. Investing models are developed through Motif Capital Management. “Motif” is a trademark of Motif Investing and has been sublicensed for certain purposes by Goldman Sachs. Structured products issued by Goldman Sachs are not sponsored by, endorsed, sold or promoted by Motif Capital Management, Inc., and Motif Capital Management, Inc. makes no representation regarding the advisability of investing in them.

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” or “continue” or the negatives thereof or other variations thereon or comparable terminology. You should read statements that contain these words carefully. These statements represent Goldman Sachs’ belief regarding future events that, by their nature, are uncertain and outside of its control. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals.  Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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