Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)

 

 

Free Writing Prospectus pursuant to Rule 433 dated July 30, 2021 / Registration Statement No. 333-253421 STRUCTURED INVESTMENTS Opportunities in U.S. and International Equities GS Finance Corp.

 

Trigger PLUS Based on the Value of a Basket of Equity Indices due September 3, 2027  

Principal at Risk Securities

 

 

The Trigger Performance Leveraged Upside Securities^SM (Trigger PLUS) do not bear interest and are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.

You should read the accompanying preliminary pricing supplement dated July 28, 2021, which we refer to herein as the accompanying preliminary pricing supplement, to better understand the terms and risks of your investment, including the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

KEY TERMS
Issuer / Guarantor:	GS Finance Corp. / The Goldman Sachs Group, Inc.
	an equally weighted basket composed of the EURO STOXX 50® Index (Bloomberg symbol, “SX5E Index”) and the S&P 500® Index (Bloomberg symbol, “SPX Index”)
	Basket component	Basket component weighting		Initial basket component value	Multiplier
Basket:	EURO STOXX 50® Index	1/2 (50.00%)
	S&P 500® Index	1/2 (50.00%)
	We refer to each of the EURO STOXX 50® Index and the S&P 500® Index singularly as an underlying index and together as the underlying indices.
Pricing date:	expected to price on or about August 13, 2021
Original issue date:	expected to be August 18, 2021
Valuation date:	expected to be August 31, 2027
Stated maturity date:	expected to be September 3, 2027
Payment at maturity (for each $10 stated principal amount of your Trigger PLUS):	If the final basket value is greater than the initial basket value, $10 + the leveraged upside payment If the final basket value is equal to or less than the initial basket value, but greater than or equal to the trigger level, $10 If the final basket value is less than the trigger level, $10 × the basket performance factor This amount will be less than the stated principal amount of $10, will represent a loss of more than 25.00% and could be zero.
Leveraged upside payment:	$10 × leverage factor × basket percent increase
Leverage factor (set on the pricing date):	at least 150.00%
Basket percent increase:	(final basket value - initial basket value) / initial basket value
Initial basket value:	100
Final basket value:	the basket closing value on the valuation date
Trigger level:	75.00% of the initial basket value
Basket closing value:	The basket closing value on any day is the sum of the products of the basket component closing value of each underlying index times the applicable multiplier for such underlying index on such date.
Basket component closing value:	In the case of each underlying index, the closing value of such underlying index.
Multiplier:	Each multiplier will be set on the pricing date based on the applicable underlying index’s respective initial basket component value so that each underlying index will represent its applicable basket component weighting in the predetermined initial basket value. Each multiplier will remain constant for the term of the Trigger PLUS and will equal, for each underlying index, (i) the product of the applicable basket component weighting times 100 divided by (ii) the applicable initial basket component value.

Basket performance factor:	final basket value / initial basket value
CUSIP / ISIN:	36261B541 / US36261B5416
Estimated value range:	$8.50 to $8.80 (which is less than the original issue price; see the accompanying preliminary pricing supplement)
Trigger PLUS Payoff Diagram*
Hypothetical Final Basket Value (as Percentage of Initial Basket Value)			Hypothetical Payment at Maturity (as Percentage of Stated Principal Amount)
175.000%			212.500%
150.000%			175.000%
110.000%			115.000%
105.000%			107.500%
101.500%			102.250%
100.000%			100.000%
95.000%			100.000%
90.000%			100.000%
80.000%			100.000%
75.000%			100.000%
74.999%			74.999%
50.000%			50.000%
25.000%			25.000%
10.000%			10.000%
0.000%			0.000%

* assumes a leverage factor of 150.00% per Trigger PLUS

 

This document does not provide all of the information that an investor should consider prior to making an investment decision. You should not invest in the Trigger PLUS without reading the accompanying preliminary pricing supplement and related documents for a more detailed description of the underlying indices (including historical index closing values), the terms of the notes and certain risks.

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About Your Trigger PLUS

The amount that you will be paid on your Trigger PLUS at stated maturity is based on the performance of an equally weighted basket composed of the EURO STOXX 50^® Index and the S&P 500^® Index as measured from the pricing date to and including the valuation date.

The initial basket value is 100, and the final basket value (the basket closing value on the valuation date) will equal the sum of the products, as calculated separately for each index, of: (i) the final index value multiplied by (ii) the applicable multiplier. The multiplier will equal, for each index, the quotient of (i) the weighting of such index (1/2 or 50.00%) multiplied by 100 divided by (ii) the initial index value.

At maturity, if the final basket value is greater than the initial basket value of 100, the return on your Trigger PLUS will be positive and equal to the product of the leverage factor of at least 150% (set on the pricing date) multiplied by the basket percent increase. If the final basket value is equal to or less than the initial basket value but greater than or equal to the trigger level of 75.00% of the initial basket value, you will receive the principal amount of your Trigger PLUS. However, if the final basket value is less than the trigger level, you will lose a significant portion of your investment.  Declines in one index may offset an increase in the other index.

The Trigger PLUS are for investors who seek the potential to earn at least 150% of any positive return of the basket, are willing to forgo interest payments and are willing to risk losing their entire investment if the final basket value is less than the trigger level.

GS Finance Corp. and The Goldman Sachs Group, Inc. have filed a registration statement (including a prospectus, as supplemented by the prospectus supplement, underlier supplement no. 22, general terms supplement no. 2,913 and preliminary pricing supplement listed below) with the Securities and Exchange Commission (SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus, prospectus supplement, underlier supplement no. 22, general terms supplement no. 2,913 and preliminary pricing supplement and any other documents relating to this offering that GS Finance Corp. and The Goldman Sachs Group, Inc. have filed with the SEC for more complete information about us and this offering. You may get these documents without cost by visiting EDGAR on the SEC web site at sec.gov. Alternatively, we will arrange to send you the prospectus, prospectus supplement, underlier supplement no. 22, general terms supplement no. 2,913 and preliminary pricing supplement if you so request by calling [phone].

The Trigger PLUS are notes that are part of the Medium-Term Notes, Series F program of GS Finance Corp. and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. This document should be read in conjunction with the following:

•	Preliminary pricing supplement dated July 28, 2021