Chicago, Dec. 29 – GS Finance Corp. priced $21.5 million of 0% index-linked notes due May 3, 2027 linked to the performance of 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.
If the index’s final level is above 140% of its initial level, the payout at maturity will be $1,522 plus 1.7334 times the index return minus 40%, subject to a maximum payout of $1,834.012 for each $1,000 face amount.
If the index’s final level is greater than its initial level and below 140% of its initial level, investors will receive par plus 1.305 times the index return.
If the index declines but not more than 10%, investors will receive par.
Otherwise, investors will lose 1% for each 1% decline beyond the 10% buffer.
The initial index level will be the average of the index’s closing levels from Dec. 17 to Dec. 30, and the final index level will be the average of the index’s closing levels from Jan. 28, 2027 to April 28, 2027.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $21,500,000
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| Maturity: | May 3, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | $1,522 plus 1.7334 times index return minus 40%, subject to maximum payout of $1,834.012 for each $1,000 face amount, if final index level is above 140% of initial level; if final index level is greater than initial level but below 140% of initial level, par plus 1.305 times index return; par if index declines but not more than 10%; otherwise, 1% loss for each 1% decline beyond 10% buffer
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| Initial level: | Average of closing levels between Dec. 17 and Dec. 30
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| Final level: | Average of closing levels between Jan. 28, 2027 and April 28, 2027
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| Buffer level: | 90% of initial level
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.15%
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| Cusip: | 40057KKA0
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