New Issue: GS prices $820,000 index-linked notes on Dow Select Dividend, S&P 500

Chicago, Aug. 11 – GS Finance Corp. priced $820,000 of 0% index-linked notes due Jan. 29, 2026 tied to the lesser performing of the S&P 500 index and the Dow Jones U.S. Select Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If the lesser performing index closes at or above its initial level, the payout at maturity will be par plus 1.1 times the return of the lesser performer, capped at 75%.

If the lesser performing index falls but finishes at or above 85% of its initial level, investors will receive par plus the absolute value of its return. Otherwise, investors will be exposed to the loss of the lesser performing index beyond the 15% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Dow Jones U.S. Select Dividend index and S&P 500 index
Amount:	$820,000
Maturity:	Jan. 29, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.1 times any gain of lesser performing index, capped at 75%; par plus absolute value of lesser performing index return if it falls but not below buffer level; otherwise, exposure to loss of lesser performer beyond 15% buffer
Initial levels:	840.93 for Dow Select, 4,566.75 for S&P
Buffer levels:	85% of initial levels
Pricing date:	July 26
Settlement date:	July 31
Agent:	Goldman Sachs & Co. LLC
Fees:	3%
Cusip:	40057TGA6

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