New Issue: GS Finance prices $8.4 million commodity-linked notes tied to basket

By Wendy Van Sickle

Columbus, Ohio, Sept. 6 – GS Finance Corp. priced $8.4 million of 0% commodity-linked notes due Jan. 15, 2026 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent Crude futures contract, natural gas futures contract, corn futures contract, soybean futures contract, gasoline futures contracts, silver and gold.

The payout at maturity will be par plus the basket return with a floor of par.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as the selling agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Basket commodity-linked notes
Underlying assets:	West Texas Intermediate light sweet crude oil futures contracts, Brent Crude futures contract, natural gas futures contract, corn futures contract, soybean futures contract, gasoline futures contracts, silver and gold; equal weights
Amount:	$8,397,000
Maturity:	Jan. 15, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus basket return with floor of par
Initial prices:	$89.55 for WTI, $95.64 for Brent, $9.127 for natural gas, $2.4308 for gasoline, $6.7375 for corn, $15.075 for soybeans, $17.945 for silver, $1,715.90 for gold
Pricing date:	Aug. 31
Settlement date:	Sept. 6
Agent:	Goldman Sachs & Co. LLC and Morgan Stanley Wealth Management
Fees:	3%
Cusip:	40057MV89

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