New Issue: GS Finance sells $9.28 million underlier-linked notes on indexes, ETF

By Wendy Van Sickle

Columbus, Ohio, Feb. 8 – GS Finance Corp. priced $9.28 million of 0% underlier-linked notes due Jan. 27, 2026 linked to the MSCI Emerging Markets index, Euro Stoxx 50 index and iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the return of each underlier is zero or positive, the payout at maturity will be par plus 1.6 times the return of the least performer.

If the return of each underlier is negative but greater than or equal to negative 20%, the payout will be par.

If any underlier falls by more than 20%, investors will be exposed to the decline of the least performer beyond 20%.

Goldman Sachs & Co. LLC is the underwriter.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Underlier-linked notes
Underlying assets:	MSCI Emerging Markets index, Euro Stoxx 50 index and iShares MSCI EAFE ETF
Amount:	$9,281,000
Maturity:	Jan. 27, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If the return of each underlier is zero or positive, par plus 1.6 times the return of the least performer; if the return of each underlier is negative but greater than or equal to negative 20%, par; if any underlier falls by more than 20%, exposure to the decline of the least performer beyond 20%
Initial levels:	$75.15 for ETF, 3,602.41 for Stoxx, 1,392.85 for Emerging Markets
Pricing date:	Jan. 22
Settlement date:	Jan. 27
Underwriter:	Goldman Sachs & Co. LLC
Fees:	4.475%
Cusip:	40057F5T7

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