GS Finance plans trigger phoenix callable securities on three indexes

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – GS Finance Corp. plans to price trigger phoenix callable optimization securities due Jan. 25, 2026 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the MSCI EAFE index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 9.5% if each index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that quarter.

The payout at maturity will be par plus the final contingent coupon unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to the loss of the worst performing index.

The notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The notes will price on Jan. 12 and settle on Jan. 15.

The notes are guaranteed by Goldman Sachs Group, Inc.

The Cusip number is 36250E233.

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