By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – GS Finance Corp. priced $2 million of 0% capped buffer in-gears due March 4, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of the lesser-performing index is greater than 20%, the payout at maturity will be par plus 28.5% plus 2.44 times the gain of the lesser-performing index in excess of 20%, subject to a maximum payout of $17.73 per $10.00 note.
If the lesser-performing index’s return is less than 20% but greater than negative 5%, the payout will be par plus 1.14 times the lesser-performing index’s return plus 5%.
If the lesser-performing index falls by more than 5% but not more than 10%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 10%.
The initial level of each index will be the average of its closing levels on each day during the period from and including Feb. 9 to and including May 10.
Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped buffer in-gears
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $2 million
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| Maturity: | March 4, 2026
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the lesser-performing index’s return is greater than 20%, par plus 28.5% plus 2.44 times the gain of the lesser-performing index in excess of 20%, subject to 77.3% cap; if lesser-performing index’s return is less than 20% but greater than negative 5%, par plus 1.14 times lesser performing index return plus 5%; if lesser performing index falls by more than 5% but not by more than 10%, par; 1% loss for every 1% that lesser-performing index declines beyond 10%
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| Initial index levels: | Average of closing levels on each day from Feb. 9 to May 10
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 0.85%
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| Cusip: | 36259U840
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