New Issue: GS Finance sells $1.3 million autocallable notes on index, ETF

By Kiku Steinfeld

Chicago, Jan. 5 – GS Finance Corp. priced $1.3 million of autocallable notes due Jan. 2, 2026 linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will be called at par plus an annualized premium of 8.2% if each asset closes at or above its initial level on any quarterly call observation date after one year.

The payout at maturity will be par plus 41% if each asset closes above its initial level. If either asset falls but neither by more than 30%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing asset declines from its initial level.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Autocallable notes
Underlying assets:	Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
Amount:	$1,300,000
Maturity:	Jan. 2, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes above its initial level, par plus 41%; if either asset falls, but not by more than 30%, par; otherwise, 1% loss for every 1% that lesser-performing asset declines from initial level
Call:	At par plus annualized premium of 8.2% if each asset closes above its initial level on any quarterly call observation date after one year
Initial levels:	3,581.37 for index and $51.02 for ETF
Pricing date:	Dec. 29
Settlement date:	Dec. 31
Underwriter:	Goldman Sachs & Co. LLC
Fees:	3.75%
Cusip:	40057EW94

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