Banca Monte dei Paschi di Siena S p A : XS2552823879 - Condizioni Definitive ENG

PROHIBITION OF SALES TO UK RETAIL INVESTORS - The notes 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 (the "UK"). 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 domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); or (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 ("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. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs Regulation") for offering or selling the notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

Notwithstanding the foregoing, if the Issuer subsequently prepares and publishes a key information document under the UK PRIIPs Regulation in respect of the notes, then the prohibition on the offering, sale or otherwise making available of the notes to retail investors as described above shall no longer apply.

Final Terms No. 984 to the Base Prospectus dated April 14, 2023, as supplemented

The Goldman Sachs Group, Inc.

Euro Medium-Term Notes, Series F

Legal Entity Identifier (LEI): 784F5XWPLTWKTBV3E584

Up to EUR 70,000,000 Fixed to Floating Rate Notes due August 2028 (the "Notes")

(referred to by the Distributor as "GS Interest Rate Fix to Floating EUR Agosto 2028")

Contractual Terms:

________________

Terms used herein shall be deemed to be defined as such for the purposes of the General Note Conditions set forth in the Base Prospectus dated April 14, 2023, as supplemented by Prospectus Supplement No. 1 dated April 19, 2023 and Prospectus Supplement No. 2 dated May 4, 2023 (the "Base Prospectus"), which is a base prospectus for the purposes of the Prospectus Regulation. This document constitutes the Final Terms of the Notes described herein for the purposes of the Prospectus Regulation and must be read in conjunction with such Base Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Base Prospectus.

The Base Prospectus is available for viewing at www.luxse.com and during normal business hours at the registered office of the Issuer, and copies may be obtained from the specified office of the Paying Agent in Luxembourg. These Final Terms are available for viewing at www.luxse.com and on the websites www.goldman-sachs.it and www.gruppomps.it.

A summary of the Notes is attached to these Final Terms.

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Tranche Number	F-984
Face Amount	Up to EUR 70,000,000
(Aggregate Notional
Amount)
Denomination	EUR 1,000
Minimum Investment	EUR 1,000 and multiples of EUR 1,000 thereafter
Type of Note	Fixed Rate / Floating Rate Series F Note
Specified Currency	Euro ("EUR")
Trade Date	The final date of the Offer Period, scheduled to be August 4, 2023
Original Issue Date	August 9, 2023
(Settlement Date)
ISIN Code	XS2552823879
Common Code	255282387
Valoren Number	125064529
Stated Maturity Date	August 9, 2028
Original Issue Price	100.00 per cent. of the Face Amount
Net Proceeds to	A minimum of 96.60 per cent. of the Face Amount
Issuer
Original Issue	Not Applicable
Discount
Amount Payable at	100% of the Face Amount outstanding on the Stated Maturity Date
Maturity
(Final Redemption
Amount)
Indexed (Participation	Not Applicable
Notes)

Yield to Maturity

Interest Rate Note Provisions

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Not Applicable

Applicable

For the Interest Periods Relating to the Interest Payment Dates Originally Scheduled for February 9, 2024 and August 9, 2024 (the "Fixed Rate Period")

Fixed Rate: Applicable

See "General Note Conditions---InterestRates-Fixed Rate Notes" Interest Rate: 3.00% per annum

Interest Payment Dates: February 9, 2024 and August 9, 2024

Day Count Fraction: 30/360

For the Interest Periods Relating to the Interest Payment Dates Originally Scheduled for February 9, 2025 and thereafter through the Stated Maturity Date (the "Floating Rate Period")

Floating Rate: Applicable

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		See "General Note Conditions---InterestRates-Floating Rate Notes"
		Interest Rate: A rate per annum equal to the Base Rate plus the Spread, subject
		to the Minimum Rate and the Maximum Rate
		Base Rate Type: Term Rates
		Base Rate: The six-month offered rate for deposits in Euros (EURIBOR) as it
		appears on the Relevant Screen Page (or any successor or replacement service
		or page) at the Relevant Time on the relevant Interest Determination Date
		Screen Term Rate Determination: Not Applicable
		Relevant Screen Page: EURIBOR6MD=
		Relevant Time: 11:00 A.M., Brussels time
		Underlyer Maturity: Six-month
		Underlyer Currency: EUR
		Minimum Rate: 2.00% per annum
		Maximum Rate: 5.00% per annum
		Spread: 0.41% per annum
		Base Rate 0% Floor: Not Applicable
		Interest Determination Dates: The second TARGET Business Day preceding
		the first day of such Interest Period
		Interest Reset Dates: The first day of the Interest Period
		Interest Payment Dates: February 9 and August 9 of each year, beginning with
		February 9, 2025 and up to and including the Stated Maturity Date
		Original Primary Rate Fallback: Applicable
		Day Count Fraction: 30/360
Non-Scheduled Early
Par Plus Accrued
Repayment Amount
Interest	August 9, 2023
Commencement Date
Interest Payment	February 9 and August 9 of each year, beginning with February 9, 2024 and
Dates	up to and including the Stated Maturity Date.
Interest Period	The period from and including an originally scheduled Interest Payment Date
	(or the Interest Commencement Date, in the case of the initial Interest Period)
	to but excluding the next succeeding originally scheduled Interest Payment
	Date (or the originally scheduled Stated Maturity Date, in the case of the final
	Interest Period).
Calculation Basis	Per Denomination
Regular Record Dates	1 Business Day
Additional	Not Applicable
Redemption Rights at
the Option of the
Issuer
Repurchase at the	Not Applicable
Holder's Option
Redemption Upon	Applicable
Change in Law

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Gross-up and Call in

the Case of Tax Law

Changes

Non-Default Business Day

Additional Business Centre

Business Day

Convention

Final BDC Procedure

Intended to be held in a manner which would allow Eurosystem eligibility

Form of Notes

Any Clearing System(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s):

Calculation Agent

Listing and Admission to Trading

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Not Applicable

Not Applicable

None

Following, Unadjusted

Not Applicable

No. Whilst the designation is specified as "no" at the date of these Final Terms, should the Eurosystem eligibility criteria be amended in the future such that the Notes are capable of meeting them the Notes may then be deposited with one of the ICSDs as common safekeeper, and registered in the name of a nominee of one of the ICSDs acting as common safekeeper. Note that this does not necessarily mean that the Notes will then be recognised as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the Eurosystem at any time during their life. Such recognition will depend upon the ECB being satisfied that Eurosystem eligibility criteria have been met.

Registered global notes only, registered in the name of a nominee of a common depositary or safekeeper for Euroclear and Clearstream, Luxembourg

Not Applicable

Goldman Sachs International

Application will be made by Banca Monte dei Paschi di Siena S.p.A. (comprising MPS Capital Services Banca per le Imprese S.p.A. by merger by incorporation effective as of May 29, 2023) in its capacity as lead manager ("MPS" or the "Lead Manager") for the Notes to be admitted to trading on the EuroTLX market, a multilateral trading facility organised and managed by Borsa Italiana S.p.A. (the "EuroTLX Market"), which is not a regulated market for the purposes of Directive 2014/65/EU on Markets in Financial Instruments (as amended, "MiFID II"). The Lead Manager expects that trading of the Notes on the EuroTLX Market will commence on or around five (5) Business Days from the Original Issue Date, but no assurances can be given that admission to trading will be granted (or, if granted, will be granted by the Original Issue Date). The Lead Manager will act as liquidity provider (specialist) in accordance with the conditions of the Regulation of the EuroTLX Market, available for viewing on the website www.borsaitaliana.it. The execution of sale and purchase orders on the EuroTLX Market will occur

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	pursuant to the operational rules of the EuroTLX Market, published on the
	website www.borsaitaliana.it.
	Finally, MPS expressly reserves the right to trade the Notes on its own
	account outside of any trading venues and to act as market maker and/or
	liquidity provider in accordance with the rules and regulations of MiFID II, as
	implemented in Italy and in accordance with the guidelines issued by the
	supervision authorities. In such events, MPS shall provide bid/ask quotes for
	the amount of the Notes effectively placed, to be determined based on the
	market conditions from time to time prevailing. The price so determined, in
	the case of "ask quotes" (purchase by the investor), shall be increased by a
	margin of up to a maximum of 0.50 per cent. (0.50%); in case of "bid quotes"
	(sale by the investor), it shall be reduced by a margin of up to a maximum of
	2.50 per cent. (2.50%).
	There is no duty to maintain the listing (if any) of the Notes on the relevant
	stock exchange(s) over their entire lifetime. The Notes may be suspended
	from trading and/or de-listed at any time in accordance with applicable rules
	and regulations of the relevant stock exchange(s).
Credit Ratings	The Notes to be issued have not been rated.
Interests of Natural	Save for any fees payable to MPS both in its capacity as Lead Manager and
and Legal Persons	in its capacity as distributor (the "Distributor") and save as disclosed in
Involved in the	section "Additional Information" below, so far as the Issuer is aware, no
Issue/Offer	person involved in the offer of the Notes has an interest material to the offer.
	Goldman Sachs International (the "Dealer"), MPS and their affiliates have
	engaged, and may in the future engage, in investment banking and/or
	commercial banking transactions with, and may perform other services for,
	the Issuer and its affiliates in the ordinary course of business.
Section 871(m)	The Issuer has determined that the Notes will not be subject to withholding
	under Section 871(m) of the U.S. Internal Revenue Code.
Postponement	Applicable
Following FX
Disruption Event and
Payments in USD

Final Terms, dated June 23, 2023

The Notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Notes may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such terms are defined in Regulation S under the Securities Act). These Final Terms are not for use in, and may not be delivered to or inside, the United States.

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