New Issue: GS Finance sells $565,000 index-linked notes on S&P, Nasdaq, Dow

By Taylor Fox

New York, Feb. 5 – GS Finance Corp. priced $565,000 of 0% index-linked notes due Jan. 5, 2026 tied to the least performing of the Dow Jones industrial average, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The payout at maturity will be par plus 115% of the return of the least-performing index if all three indexes finish at or above their initial levels. The payout will be par plus the absolute value of the least performing index if the least performing index falls by up to 35%. Otherwise, investors will lose 1% for every 1% that the least performing index declines.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones industrial average, Nasdaq-100 index, S&P 500 index
Amount:	$565,000
Maturity:	Jan. 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 115% of the return of the least performing index if all indexes finish above initial level; par plus absolute value of least performing index if least performing index falls by up to 35%; otherwise, 1% loss for every 1% decline of least performing index
Initial levels:	12,845.36 for Nasdaq, 3,732.04 for S&P, 30,409.56 for Dow
Trigger buffer levels:	65% of initial levels
Pricing date:	Dec. 30
Settlement date:	Jan. 5
Agent:	Goldman Sachs & Co. LLC
Fees:	0.98%
Cusip:	40057EQM2

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