By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – GS Finance Corp. sold $2 million of 0% market-linked securities with leveraged upside participation and contingent downside due Nov. 19, 2026 linked to the lowest performing of the common stocks of L3Harris Technologies, Inc., General Dynamics Corp. and RTX Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par plus three times the return of the worst performer if all three stocks close above their initial levels.
If the worst performer declines but not more than 10%, the payout will be par.
Otherwise, investors will be exposed to the losses of the worst performer from the initial level.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – with leveraged upside participation and contingent downside
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| Underlying stocks: | L3Harris Technologies, Inc., General Dynamics Corp. and RTX Corp.
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| Amount: | $2 million
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| Maturity: | Nov. 19, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus three times return of worst performer if all stocks finish above initial levels; par if worst performer declines but not beyond threshold level; otherwise, exposure to losses of worst performer from initial level
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| Initial levels: | $187.61 for L3Harris, $247.86 for General Dynamics, $80.69 for RTX
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| Threshold levels: | 90% of initial levels
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| Pricing date: | Nov. 14
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| Settlement date: | Nov. 17
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| Agents: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.825%
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| Cusip: | 40057X5Z4
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