New Issue: GS Finance sells $762,000 index-linked notes on Russell, S&P

By Kiku Steinfeld

Chicago, Jan. 8 – GS Finance Corp. priced $762,000 of 0% index-linked notes due Jan. 5, 2026 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

If worse-performing index gains or finishes flat, the payout will be par plus 1.25 times the return of the lesser performing index.

If any index falls by up to 40%, the payout will be par.

Otherwise, investors will be fully exposed to the loss of the worse-performing index.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	Russell 2000 and S&P 500
Amount:	$762,000
Maturity:	Jan. 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If worse-performing index gains or finishes flat, par plus 1.25 times return of lesser performing index; if any index falls by up to 40%, par; otherwise, investors will be fully exposed to the loss of the worse-performing index
Initial levels:	1,979.992 for Russell, 3,732.04 for S&P
Barrier levels:	60% of initial levels
Pricing date:	Dec. 30
Settlement date:	Jan. 5
Agent:	Goldman Sachs & Co. LLC
Fees:	1.21%
Cusip:	40057EPH4

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