New Issue: GS Finance sells $285,000 index-linked notes on S&P 500, Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Feb. 24 – GS Finance Corp. priced $285,000 of 0% index-linked notes due Feb. 17, 2026 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the return of the worst performing index if both indexes finish above their initial level, subject to a maximum return of $1,600 per $1,000 note.

If either index falls but not below 80% of its initial level, the payout will be par.

Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond the 20% buffer.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Index-linked notes
Underlying indexes:	S&P 500 index and Russell 2000 index
Amount:	$285,000
Maturity:	Feb. 17, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus return of worst performing index up to $1,600 per $1,000 note if both indexes finish above initial levels; par if either index falls but neither index finishes below 80% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 20% buffer
Initial levels:	3,916.38 for S&P 500, 2,285.317 for Russell
Buffer levels:	80% of initial levels
Pricing date:	Feb. 11
Settlement date:	Feb. 17
Agent:	Goldman Sachs & Co. LLC
Fees:	4.45%
Cusip:	40057FGP3

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