By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – GS Finance Corp. priced $10 million of autocallable contingent coupon commodity-linked securities due Feb. 12, 2026 linked to the common commodity of West Texas Intermediate light sweet crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 12.3% if the commodity closes at or above the coupon barrier price, 60% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the commodity closes at or above the initial share price on any monthly valuation date after one year.
If the notes are not called and the final share price is greater than or equal to the 60% final barrier price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the commodity price.
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 commodity-linked securities
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| Underlying commodity: | West Texas Intermediate light sweet crude oil futures contract
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| Amount: | $10 million
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| Maturity: | Feb. 12, 2026
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| Coupon: | 12.3% annually, payable monthly, if commodity closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, full exposure to decline in the commodity
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| Call: | Automatically at par plus contingent coupon if commodity closes at or above initial level on any monthly valuation date after one year
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| Initial share price: | $75.85
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| Coupon barrier level: | 60% of initial level
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| Final barrier level: | 60% of initial level
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 40057RRP5
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