Chicago, Nov. 3 – GS Finance Corp. priced $2.34 million of market-linked securities – autocallable with contingent downside due Nov. 2, 2026 tied to the lowest performing of the common stocks of L3Harris Technologies, Inc., General Dynamics Corp., Lockheed Martin Corp. and Northrop Grumman Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically redeemed at par plus a 19.5% annualized call premium if the worst-performing stock closes at or above its initial level on any annual observation date.
The maturity date call premium is 58.5%.
If the notes are not called and the final price of each stock greater than or equal to its 65% downside threshold, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the least-performing stock from its initial price.
Goldman Sachs & Co. LLC and Wells Fargo Securities are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with contingent downside
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| Underlying stocks: | L3Harris Technologies, Inc., General Dynamics Corp., Lockheed Martin Corp. and Northrop Grumman Corp.
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| Amount: | $2,342,000
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| Maturity: | Nov. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stocks close above initial levels, par plus 58.5% call premium; if any stock declines but all end above downside threshold levels, par; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus a 19.5% annualized call premium if the worst-performing stock closes at or above its initial level on any annual observation date
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| Initial prices: | $170.93 for L3Harris, $238.25 for General Dynamics, $443.39 for Lockheed, $473.07 for Northrop
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| Downside threshold levels: | 65% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities
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| Fees: | 2.575%
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| Cusip: | 40057WN29
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