New Issue: GS Finance sells $1.34 million buffered basket-linked notes on basket of 44 stocks

By Kiku Steinfeld

Chicago, July 11 – GS Finance Corp. priced $1.34 million of 0% buffered basket-linked notes due Feb. 26, 2025 linked to an unequally weighted basket of forty-four stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The basket includes the stocks of Align Technology, Inc. with a 3.75% weight, A. O. Smith Corp. with a 1.98% weight, Arista Networks, Inc. with a 6.66% weight, Atmos Energy Corp. with a 0.76% weight, BorgWarner Inc. with a 2.87% weight, Cincinnati Financial Corp. with a 2.76% weight, Copart, Inc. with a 1.98% weight, D.R. Horton, Inc. with a 2.87% weight, EOG Resources, Inc. with a 1.23% weight, Everest Re Group, Ltd. with a 2.76% weight, Evergy, Inc. with a 0.76% weight, Expeditors International of Washington, Inc. with a 1.98% weight, Fortinet, Inc. with a 6.66% weight, Freeport-McMoRan Inc. with a 0.64% weight, Garmin Ltd. with a 2.87% weight, Helmerich & Payne, Inc. with a 1.23% weight, Hormel Foods Corp. with a 1.68% weight, Incyte Corp. with a 3.75% weight, Intuitive Surgical, Inc. with a 3.75% weight, Jack Henry & Associates, Inc. with a 6.66% weight, Lennar Corp. with a 2.87% weight, Liberty Broadband Corp. with a 2.01%weight, Neurocrine Biosciences, Inc. with a 3.75% weight, Newmont Corp. with a 0.64% weight, News Corp. with a 2.01% weight, NOV Inc. with a 1.23%weight, Nu Skin Enterprises, Inc. with a 1.68% weight, Nucor Corp. with a 0.64% weight, Old Dominion Freight Line, Inc. with a 1.98% weight, Pilgrim's Pride Corp. with a 1.68% weight, Pinnacle West Capital Corp. with a 0.76% weight, Prologis, Inc. with a 0.68% weight, Public Storage with a 0.68% weight, Regency Centers Corp. with a 0.68% weight, Shenandoah Telecommunications Co. with a 2.01%weight, Simon Property Group, Inc. with a 0.68% weight, Skyworks Solutions, Inc. with a 6.66% weight, SVB Financial Group with a 2.76% weight, E. W. Scripps Co. with a 2.01% weight, Mosaic Co. with a 0.64%weight, US Foods Holding Corp. with a 1.68% weight, Valero Energy Corp. with a 1.23% weight, WEC Energy Group, Inc. with a 0.76% weight and Western Alliance Bancorp. with a 2.76% weight.

The payout at maturity will be par plus any basket gain, capped at 22.76%.

If the basket falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline in basket beyond 20%.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered basket-linked notes
Underliers:	Align Technology, Inc. with a 3.75% weight, A. O. Smith Corp. with a 1.98% weight, Arista Networks, Inc. with a 6.66% weight, Atmos Energy Corp. with a 0.76% weight, BorgWarner Inc. with a 2.87% weight, Cincinnati Financial Corp. with a 2.76% weight, Copart, Inc. with a 1.98% weight, D.R. Horton, Inc. with a 2.87% weight, EOG Resources, Inc. with a 1.23% weight, Everest Re Group, Ltd. with a 2.76% weight, Evergy, Inc. with a 0.76% weight, Expeditors International of Washington, Inc. with a 1.98% weight, Fortinet, Inc. with a 6.66% weight, Freeport-McMoRan Inc. with a 0.64% weight, Garmin Ltd. with a 2.87% weight, Helmerich & Payne, Inc. with a 1.23% weight, Hormel Foods Corp. with a 1.68% weight, Incyte Corp. with a 3.75% weight, Intuitive Surgical, Inc. with a 3.75% weight, Jack Henry & Associates, Inc. with a 6.66% weight, Lennar Corp. with a 2.87% weight, Liberty Broadband Corp. with a 2.01%weight, Neurocrine Biosciences, Inc. with a 3.75% weight, Newmont Corp. with a 0.64% weight, News Corp. with a 2.01% weight, NOV Inc. with a 1.23%weight, Nu Skin Enterprises, Inc. with a 1.68% weight, Nucor Corp. with a 0.64% weight, Old Dominion Freight Line, Inc. with a 1.98% weight, Pilgrim's Pride Corp. with a 1.68% weight, Pinnacle West Capital Corp. with a 0.76% weight, Prologis, Inc. with a 0.68% weight, Public Storage with a 0.68% weight, Regency Centers Corp. with a 0.68% weight, Shenandoah Telecommunications Co. with a 2.01%weight, Simon Property Group, Inc. with a 0.68% weight, Skyworks Solutions, Inc. with a 6.66% weight, SVB Financial Group with a 2.76% weight, E. W. Scripps Co. with a 2.01% weight, Mosaic Co. with a 0.64%weight, US Foods Holding Corp. with a 1.68% weight, Valero Energy Corp. with a 1.23% weight, WEC Energy Group, Inc. with a 0.76% weight and Western Alliance Bancorp. with a 2.76% weight
Amount:	$1.34 million
Maturity:	Feb. 26, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain, capped at 22.76%; par if basket declines by up to 20%; otherwise, 1% loss for every 1% basket decline beyond buffer
Initial level:	$304.00 for Align, for Smith $65.67, $134.53 for Arista, $116.05 for Atmos, $49.33 for Borg, $124.86 for Cincinnati, $69.04 for Copart, 90.26% for Horton, $119.23 for EOG, $381.73 for Everest, $61.13 for Evergy, $105.20 for Expeditors, $59.71 for Fortinet, $42.66 for Freeport-McMoRan, $42.66 for Garmin, $41.73 for Helmerich, $45.48 for Hormel, $78.49 for Incyte, $233.58 for Intuitive, $166.58 for Jack Henry, $95.77 for Lennar, $88.76 for Liberty, $102.11 for Neurocrine, $45.17 for Newmont, $18.41 for News, $21.50 for NOV, $41.53 for Nu Skin, $163.54 for Nucor, $342.70 for Old Dominion, $342.70 for $342.70 for Pilgrim’s, $74.14 for Pinnacle, $123.48 for Prologis, $298.90 for Public Storage, $62.91 for Regency, $18.86 for Shenandoah, $120.62 for Simon, $112.49 for Skyworks, $285.71 for SVB, $14.14 for Scripps, $48.86 for Mosaic, $39.26 for U.S. Foods, $132.20 for Valero, $91.49 for WEC, $72.36 for Western
Buffer level:	80% of initial level
Pricing date:	Feb. 21
Settlement date:	Feb. 24
Agent:	Goldman Sachs & Co. LLC
Fees:	1%
Cusip:	40057PJ29

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