New Issue: GS Finance prices $14.77 million dual directional trigger PLUS linked to Russell 2000

New York, Feb. 14 – GS Finance Corp. priced $14.77 million of 0% dual directional trigger PLUS due Feb. 5, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of par plus 27%.

Investors will receive a 1% gain for each 1% loss if the index declines but finishes at or above the 85% principal barrier and will lose 1% for every 1% decline if the index ends below its principal barrier.

The notes are guaranteed by Goldman Sachs Group, Inc.

Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Dual directional trigger PLUS
Underlying index:	Russell 2000 index
Amount:	$14,773,000
Maturity:	Feb. 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to a maximum return of par plus 27%; 1% gain for each 1% loss if index declines but ends at or above principal barrier; otherwise, full exposure to decline of index from initial level
Initial level:	1,947.342
Principal barrier:	1,655.2407, 85% of initial level
Upside leverage:	200%
Cap:	27%
Pricing date:	Jan. 31
Settlement date:	Feb. 5
Agent:	Goldman Sachs & Co. LLC
Dealer:	Morgan Stanley Wealth Management
Fees:	2.50%
Cusip:	40057XVR3

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