By Kiku Steinfeld
Chicago, Oct. 3 – GS Finance Corp. priced $741,000 of 0% autocallable contingent coupon ETF-linked notes due Feb. 19, 2026 tied to the VanEck Vectors Gold Miners ETF, the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Investors will receive a 7.5% coupon, payable quarterly, when the closing level of each fund is above 70% of its initial level on the related observation date.
The notes will be automatically called at par if each ETF closes at or above its initial level on any quarterly call observation date after one year.
At maturity, investors will receive par if no fund finishes below 70% of its initial level.
If any ETF falls by more than 30%, investors will be exposed to the least performing ETF’s decline.
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: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF, SPDR Gold Trust and iShares Silver Trust
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| Amount: | $741,000
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| Maturity: | Feb. 19, 2026
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| Coupon: | 7.5% annual rate, payable quarterly when the closing level of each fund is above its coupon barrier level on the related observation date
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| Price: | Par
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| Payout at maturity: | Par if no ETF finishes below its barrier level; otherwise, exposure to losses of worst performing ETF
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| Call: | Automatically at par if each ETF closes at or above initial level on any quarterly call observation date after one year
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| Initial levels: | $32.43 for Gold Miners, $21.83 for Silver, $173.81 for SPDR Gold
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057L4U2
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