[FWP] Goldman Sachs Group Inc. Free Writing Prospectus
Goldman Sachs has filed a Free Writing Prospectus for Market Linked Securities - Autocallable with Contingent Coupon, linked to the performance of Alphabet, Amazon, and Meta Platforms Class A common stocks, due July 21, 2028.
Key features include:
- Issuer: GS Finance Corp. with Goldman Sachs Group as guarantor
- Contingent coupon payment of at least 16.50% per annum ($41.25 per $1,000 face amount)
- Automatic call feature triggers if lowest performing stock exceeds starting price
- Downside threshold price set at 70% of starting price
- Estimated security value between $925-$955 per $1,000 face amount
Significant risks include potential loss of entire investment, credit risk of issuer/guarantor, and dependence on lowest-performing stock. Securities will be distributed through Wells Fargo Securities with 2.575% underwriting discount. Investment involves complex features beyond conventional debt securities.
Goldman Sachs ha presentato un Free Writing Prospectus per titoli Market Linked Securities - Autocallable con Cedola Contingente, collegati alla performance delle azioni ordinarie Classe A di Alphabet, Amazon e Meta Platforms, con scadenza il 21 luglio 2028.
Caratteristiche principali:
- Emittente: GS Finance Corp. con Goldman Sachs Group come garante
- Pagamento della cedola contingente di almeno 16,50% annuo (41,25 $ per ogni 1.000 $ di valore nominale)
- Funzione di richiamo automatico attivata se il titolo con la performance pi霉 bassa supera il prezzo iniziale
- Soglia di ribasso fissata al 70% del prezzo iniziale
- Valore stimato del titolo tra 925 e 955 $ per ogni 1.000 $ di valore nominale
I rischi principali includono la possibile perdita totale dell'investimento, il rischio di credito dell'emittente/garante e la dipendenza dal titolo con la performance pi霉 bassa. I titoli saranno distribuiti tramite Wells Fargo Securities con uno sconto di collocamento del 2,575%. L'investimento presenta caratteristiche complesse che vanno oltre le tradizionali obbligazioni.
Goldman Sachs ha presentado un Free Writing Prospectus para Valores Vinculados al Mercado - Autollamables con Cup贸n Contingente, vinculados al desempe帽o de las acciones comunes Clase A de Alphabet, Amazon y Meta Platforms, con vencimiento el 21 de julio de 2028.
Caracter铆sticas clave:
- Emisor: GS Finance Corp. con Goldman Sachs Group como garante
- Pago del cup贸n contingente de al menos 16,50% anual (41,25 $ por cada 1,000 $ de valor nominal)
- Funci贸n de llamada autom谩tica que se activa si la acci贸n con peor desempe帽o supera el precio inicial
- Umbral de ca铆da establecido en el 70% del precio inicial
- Valor estimado del valor entre 925 y 955 $ por cada 1,000 $ de valor nominal
Los riesgos significativos incluyen la posible p茅rdida total de la inversi贸n, riesgo crediticio del emisor/garante y dependencia de la acci贸n con peor desempe帽o. Los valores ser谩n distribuidos a trav茅s de Wells Fargo Securities con un descuento de suscripci贸n del 2,575%. La inversi贸n implica caracter铆sticas complejas que van m谩s all谩 de los valores de deuda convencionales.
瓿摐毵� 靷姢电� 鞎岉寣氩�, 鞎勲臁�, 氅旐儉 頂岆灚韽� 韥措灅鞀� A 氤错喌欤检潣 靹标臣鞐� 鞐半彊霅� 鞁滌灔 鞐瓣硠 歃濌秾 - 鞛愲彊 靸來櫂順� 臁瓣贝攵� 炜犿彴 歃濌秾鞐� 雽�頃� Free Writing Prospectus毳� 2028雲� 7鞗� 21鞚� 毵岅赴搿� 鞝滌稖頄堨姷雼堧嫟.
欤检殧 韸轨:
- 氚滍枆鞛�: GS Finance Corp., 氤挫鞚�: Goldman Sachs Group
- 斓滌唽 鞐� 16.50%鞚� 臁瓣贝攵� 炜犿彴 歆�旮� (鞎‰┐臧� 1,000雼煬雼� 41.25雼煬)
- 斓滌爛 靹标臣 欤检嫕鞚� 鞁滌瀾 臧�瓴╈潉 齑堦臣頃� 瓴届毎 鞛愲彊 靸來櫂 旮半姤 氚滊彊
- 頃橂澖 頃滉硠 臧�瓴╈潃 鞁滌瀾 臧�瓴╈潣 70%搿� 靹れ爼
- 歃濌秾 鞓堨儊 臧�旃樀鐢 鞎‰┐臧� 1,000雼煬雼� 925~955雼煬 靷澊
欤检殧 鞙勴棙 鞖旍唽搿湹鐢 韴瀽 鞗愱笀 鞝勳暋 靻愳嫟 臧�電レ劚, 氚滍枆鞛�/氤挫鞚� 鞁犾毄 鞙勴棙, 斓滌爛 靹标臣 欤检嫕鞐� 雽�頃� 鞚橃〈霃勱皜 韽暔霅╇媹雼�. 歃濌秾鞚� Wells Fargo Securities毳� 韱淀暣 氚绊彫霅橂┌ 2.575%鞚� 鞚胳垬 頃犾澑鞙澊 鞝侅毄霅╇媹雼�. 鞚� 韴瀽电� 鞚茧皹 毂勱秾鞚� 雱橃柎靹� 氤奠灐頃� 韸轨鞚� 韽暔頃橁碃 鞛堨姷雼堧嫟.
Goldman Sachs a d茅pos茅 un Free Writing Prospectus pour des titres li茅s au march茅 - Autocallables avec coupon conditionnel, li茅s 脿 la performance des actions ordinaires Classe A de Alphabet, Amazon et Meta Platforms, 茅ch茅ance le 21 juillet 2028.
Caract茅ristiques principales :
- 脡metteur : GS Finance Corp. avec Goldman Sachs Group comme garant
- Versement d鈥檜n coupon conditionnel d鈥檃u moins 16,50% par an (41,25 $ par tranche de 1 000 $ de valeur nominale)
- Fonction de rappel automatique activ茅e si l鈥檃ction la moins performante d茅passe le prix de d茅part
- Seuil de baisse fix茅 脿 70 % du prix de d茅part
- Valeur estim茅e du titre entre 925 et 955 $ pour 1 000 $ de valeur nominale
Les risques importants incluent la perte potentielle de l鈥檌nt茅gralit茅 de l鈥檌nvestissement, le risque de cr茅dit de l鈥櫭﹎etteur/garant et la d茅pendance 脿 la performance de l鈥檃ction la moins performante. Les titres seront distribu茅s par Wells Fargo Securities avec une remise de souscription de 2,575%. Cet investissement comporte des caract茅ristiques complexes d茅passant celles des titres de cr茅ance classiques.
Goldman Sachs hat einen Free Writing Prospectus f眉r marktgebundene Wertpapiere - Autocallable mit bedingtem Kupon eingereicht, die an die Wertentwicklung der Stammaktien Klasse A von Alphabet, Amazon und Meta Platforms gekoppelt sind, mit F盲lligkeit am 21. Juli 2028.
Wesentliche Merkmale:
- Emittent: GS Finance Corp. mit Goldman Sachs Group als Garantiegeber
- Bedingte Kuponzahlung von mindestens 16,50% pro Jahr (41,25 $ pro 1.000 $ Nennwert)
- Automatische R眉ckruf-Funktion wird ausgel枚st, wenn die am schlechtesten performende Aktie den Startpreis 眉bersteigt
- Abw盲rts-Schwellenpreis bei 70% des Startpreises festgelegt
- Gesch盲tzter Wert des Wertpapiers liegt zwischen 925 und 955 $ pro 1.000 $ Nennwert
Bedeutende Risiken umfassen den m枚glichen Totalverlust der Investition, Kreditrisiko des Emittenten/Garantiegebers und die Abh盲ngigkeit von der am schlechtesten performenden Aktie. Die Wertpapiere werden 眉ber Wells Fargo Securities mit einem 2,575% Underwriting-Rabatt vertrieben. Die Investition beinhaltet komplexe Merkmale, die 眉ber herk枚mmliche Schuldverschreibungen hinausgehen.
- High potential yield with contingent coupon payments of at least 16.50% per annum if performance conditions are met
- Memory feature allows for recovery of previously missed coupon payments if conditions improve
- Automatic call feature provides early exit opportunity if the lowest performing stock reaches its starting price
- Significant downside risk with potential loss of over 30% of principal if any underlying stock falls below 70% threshold
- Estimated value of securities ($925-$955 per $1,000 face amount) is less than the offering price, indicating substantial embedded costs
- Complex structure ties performance to worst-performing stock among Alphabet, Amazon, and Meta, increasing risk compared to single-stock exposure
- No participation in any upside appreciation of the underlying stocks beyond fixed coupon payments
Goldman Sachs ha presentato un Free Writing Prospectus per titoli Market Linked Securities - Autocallable con Cedola Contingente, collegati alla performance delle azioni ordinarie Classe A di Alphabet, Amazon e Meta Platforms, con scadenza il 21 luglio 2028.
Caratteristiche principali:
- Emittente: GS Finance Corp. con Goldman Sachs Group come garante
- Pagamento della cedola contingente di almeno 16,50% annuo (41,25 $ per ogni 1.000 $ di valore nominale)
- Funzione di richiamo automatico attivata se il titolo con la performance pi霉 bassa supera il prezzo iniziale
- Soglia di ribasso fissata al 70% del prezzo iniziale
- Valore stimato del titolo tra 925 e 955 $ per ogni 1.000 $ di valore nominale
I rischi principali includono la possibile perdita totale dell'investimento, il rischio di credito dell'emittente/garante e la dipendenza dal titolo con la performance pi霉 bassa. I titoli saranno distribuiti tramite Wells Fargo Securities con uno sconto di collocamento del 2,575%. L'investimento presenta caratteristiche complesse che vanno oltre le tradizionali obbligazioni.
Goldman Sachs ha presentado un Free Writing Prospectus para Valores Vinculados al Mercado - Autollamables con Cup贸n Contingente, vinculados al desempe帽o de las acciones comunes Clase A de Alphabet, Amazon y Meta Platforms, con vencimiento el 21 de julio de 2028.
Caracter铆sticas clave:
- Emisor: GS Finance Corp. con Goldman Sachs Group como garante
- Pago del cup贸n contingente de al menos 16,50% anual (41,25 $ por cada 1,000 $ de valor nominal)
- Funci贸n de llamada autom谩tica que se activa si la acci贸n con peor desempe帽o supera el precio inicial
- Umbral de ca铆da establecido en el 70% del precio inicial
- Valor estimado del valor entre 925 y 955 $ por cada 1,000 $ de valor nominal
Los riesgos significativos incluyen la posible p茅rdida total de la inversi贸n, riesgo crediticio del emisor/garante y dependencia de la acci贸n con peor desempe帽o. Los valores ser谩n distribuidos a trav茅s de Wells Fargo Securities con un descuento de suscripci贸n del 2,575%. La inversi贸n implica caracter铆sticas complejas que van m谩s all谩 de los valores de deuda convencionales.
瓿摐毵� 靷姢电� 鞎岉寣氩�, 鞎勲臁�, 氅旐儉 頂岆灚韽� 韥措灅鞀� A 氤错喌欤检潣 靹标臣鞐� 鞐半彊霅� 鞁滌灔 鞐瓣硠 歃濌秾 - 鞛愲彊 靸來櫂順� 臁瓣贝攵� 炜犿彴 歃濌秾鞐� 雽�頃� Free Writing Prospectus毳� 2028雲� 7鞗� 21鞚� 毵岅赴搿� 鞝滌稖頄堨姷雼堧嫟.
欤检殧 韸轨:
- 氚滍枆鞛�: GS Finance Corp., 氤挫鞚�: Goldman Sachs Group
- 斓滌唽 鞐� 16.50%鞚� 臁瓣贝攵� 炜犿彴 歆�旮� (鞎‰┐臧� 1,000雼煬雼� 41.25雼煬)
- 斓滌爛 靹标臣 欤检嫕鞚� 鞁滌瀾 臧�瓴╈潉 齑堦臣頃� 瓴届毎 鞛愲彊 靸來櫂 旮半姤 氚滊彊
- 頃橂澖 頃滉硠 臧�瓴╈潃 鞁滌瀾 臧�瓴╈潣 70%搿� 靹れ爼
- 歃濌秾 鞓堨儊 臧�旃樀鐢 鞎‰┐臧� 1,000雼煬雼� 925~955雼煬 靷澊
欤检殧 鞙勴棙 鞖旍唽搿湹鐢 韴瀽 鞗愱笀 鞝勳暋 靻愳嫟 臧�電レ劚, 氚滍枆鞛�/氤挫鞚� 鞁犾毄 鞙勴棙, 斓滌爛 靹标臣 欤检嫕鞐� 雽�頃� 鞚橃〈霃勱皜 韽暔霅╇媹雼�. 歃濌秾鞚� Wells Fargo Securities毳� 韱淀暣 氚绊彫霅橂┌ 2.575%鞚� 鞚胳垬 頃犾澑鞙澊 鞝侅毄霅╇媹雼�. 鞚� 韴瀽电� 鞚茧皹 毂勱秾鞚� 雱橃柎靹� 氤奠灐頃� 韸轨鞚� 韽暔頃橁碃 鞛堨姷雼堧嫟.
Goldman Sachs a d茅pos茅 un Free Writing Prospectus pour des titres li茅s au march茅 - Autocallables avec coupon conditionnel, li茅s 脿 la performance des actions ordinaires Classe A de Alphabet, Amazon et Meta Platforms, 茅ch茅ance le 21 juillet 2028.
Caract茅ristiques principales :
- 脡metteur : GS Finance Corp. avec Goldman Sachs Group comme garant
- Versement d鈥檜n coupon conditionnel d鈥檃u moins 16,50% par an (41,25 $ par tranche de 1 000 $ de valeur nominale)
- Fonction de rappel automatique activ茅e si l鈥檃ction la moins performante d茅passe le prix de d茅part
- Seuil de baisse fix茅 脿 70 % du prix de d茅part
- Valeur estim茅e du titre entre 925 et 955 $ pour 1 000 $ de valeur nominale
Les risques importants incluent la perte potentielle de l鈥檌nt茅gralit茅 de l鈥檌nvestissement, le risque de cr茅dit de l鈥櫭﹎etteur/garant et la d茅pendance 脿 la performance de l鈥檃ction la moins performante. Les titres seront distribu茅s par Wells Fargo Securities avec une remise de souscription de 2,575%. Cet investissement comporte des caract茅ristiques complexes d茅passant celles des titres de cr茅ance classiques.
Goldman Sachs hat einen Free Writing Prospectus f眉r marktgebundene Wertpapiere - Autocallable mit bedingtem Kupon eingereicht, die an die Wertentwicklung der Stammaktien Klasse A von Alphabet, Amazon und Meta Platforms gekoppelt sind, mit F盲lligkeit am 21. Juli 2028.
Wesentliche Merkmale:
- Emittent: GS Finance Corp. mit Goldman Sachs Group als Garantiegeber
- Bedingte Kuponzahlung von mindestens 16,50% pro Jahr (41,25 $ pro 1.000 $ Nennwert)
- Automatische R眉ckruf-Funktion wird ausgel枚st, wenn die am schlechtesten performende Aktie den Startpreis 眉bersteigt
- Abw盲rts-Schwellenpreis bei 70% des Startpreises festgelegt
- Gesch盲tzter Wert des Wertpapiers liegt zwischen 925 und 955 $ pro 1.000 $ Nennwert
Bedeutende Risiken umfassen den m枚glichen Totalverlust der Investition, Kreditrisiko des Emittenten/Garantiegebers und die Abh盲ngigkeit von der am schlechtesten performenden Aktie. Die Wertpapiere werden 眉ber Wells Fargo Securities mit einem 2,575% Underwriting-Rabatt vertrieben. Die Investition beinhaltet komplexe Merkmale, die 眉ber herk枚mmliche Schuldverschreibungen hinausgehen.
Free Writing Prospectus pursuant to Rule 433 dated June 27, 2025
Registration Statement No. 333-284538
Tes wil
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Market Linked Securities — Autocallable with Contingent Coupon with Memory Feature and Contingent Downside Principal at Risk Securities Linked to the Lowest Performing of the Class A Common Stock of Alphabet Inc., the Common Stock of Amazon.com, Inc. and the Class A Common Stock of Meta Platforms, Inc. (formerly Facebook, Inc.) due July 21, 2028 |
Summary of Terms |
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Company (Issuer) and Guarantor: |
GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor) |
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Underwriting discount: |
up to 2.575% of the face amount*; Wells Fargo Securities, LLC (“WFS”) is the agent for the distribution of the securities. WFS will receive the underwriting discount of up to 2.575% of the aggregate face amount of the securities sold. The agent may resell the securities to Wells Fargo Advisors (“WFA”) at the original issue price of the securities less a concession of 1.75% of the aggregate face amount of the securities. In addition to the selling concession received by WFA, WFS advises that WFA may also receive out of the underwriting discount a distribution expense fee of 0.075% for each $1,000 face amount of a security WFA sells. |
Market Measures (each referred to as an “underlying stock,” and collectively as the “underlying stocks”): |
the Class A common stock of Alphabet Inc. (current Bloomberg ticker: “GOOGL UW”), the common stock of Amazon.com, Inc. (current Bloomberg ticker: “AMZN UW”) and the Class A common stock of Meta Platforms, Inc. (formerly Facebook, Inc.) (current Bloomberg ticker: “META UW”) |
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Pricing date: |
expected to be July 18, 2025 |
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Issue date: |
expected to be July 23, 2025 |
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Final calculation day: |
expected to be July 18, 2028 |
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Stated maturity date: |
expected to be July 21, 2028 |
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* In addition, in respect of certain securities sold in this offering, GS&Co. may pay a fee of up to 0.20% of the aggregate face amount of the securities sold to selected securities dealers in consideration for marketing and other services in connection with the distribution of the securities to other securities dealers. Hypothetical Payout Profile (Maturity Payment Amount)
If the securities are not automatically called prior to stated maturity and the ending price of the lowest performing underlying stock on the final calculation day is less than its downside threshold price, you will lose more than 30%, and possibly all, of the face amount of your securities at stated maturity. Any return on the securities will be limited to the sum of your contingent coupon payments, if any. You will not participate in any appreciation of any underlying stock, but you will have full downside exposure to the lowest performing underlying stock on the final calculation day if the ending price of that underlying stock is less than its downside threshold price. You should read the accompanying preliminary pricing supplement dated June 26, 2025, 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. The securities 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 June 26, 2025 ● WFS product supplement no. 5 dated February 14, 2025 ● Prospectus supplement dated February 14, 2025 ● Prospectus dated February 14, 2025
The estimated value of your securities at the time the terms of your securities are set on the pricing date is expected to be between $925 and $955 per $1,000 face amount. See the accompanying preliminary pricing supplement for a further discussion of the estimated value of your securities. |
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Starting price: |
with respect to an underlying stock, the stock closing price of such underlying stock on the pricing date |
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Ending price: |
with respect to an underlying stock, the stock closing price of such underlying stock on the final calculation day |
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Performance factor: |
with respect to an underlying stock on any calculation day, the quotient of (i) its stock closing price on such calculation day divided by its starting price (expressed as a percentage) |
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Lowest performing underlying stock: |
for any calculation day, the underlying stock with the lowest performance factor on that calculation day |
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Automatic call: |
If the stock closing price of the lowest performing underlying stock on any call date is greater than or equal to its starting price, the securities will be automatically called, and on the related call settlement date you will be entitled to receive a cash payment per security in U.S. dollars equal to the face amount plus a final contingent coupon payment and any previously unpaid contingent coupon payments. The securities will not be subject to automatic call until the January 2026 calculation day. |
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Downside threshold price: |
with respect to an underlying stock, 70% of its starting price |
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Contingent coupon payment: |
Subject to the automatic call, on each contingent coupon payment date, for each $1,000 of the outstanding face amount, you will receive a contingent coupon payment equal to at least $41.25 (equivalent to a contingent coupon rate of at least 16.50% per annum) (set on the pricing date) if, and only if, the stock closing price of the lowest performing underlying stock on the related calculation day is greater than or equal to its coupon threshold price. In addition, if the stock closing price of the lowest performing underlying stock on one or more calculation days is less than its coupon threshold price and, on a subsequent calculation day, the stock closing price of the lowest performing underlying stock is greater than or equal to its coupon threshold price, on the contingent coupon payment date related to such subsequent calculation day you will receive the contingent coupon payment due for that subsequent calculation day plus all previously unpaid contingent coupon payments (without interest on amounts previously unpaid). |
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Coupon threshold price: |
with respect to an underlying stock, 70% of its starting price |
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Call settlement date: |
the contingent coupon payment date immediately following the applicable call date |
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Calculation days: |
quarterly, on the 18th day of January, April, July and October, commencing October 2025 and ending April 2028, and the final calculation day |
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Call dates: |
each calculation day commencing in January 2026 and ending in April 2028 |
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Contingent coupon payment dates: |
quarterly, on the third business day following each calculation day; provided that the contingent coupon payment date with respect to the final calculation day will be the stated maturity date |
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Maturity payment amount (for each $1,000 face amount of your securities): |
• if the ending price of the lowest performing underlying stock on the final calculation day is greater than or equal to its downside threshold price: $1,000; or • if the ending price of the lowest performing underlying stock on the final calculation day is less than its downside threshold price: $1,000 × performance factor of the lowest performing underlying stock on the final calculation day |
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CUSIP: |
40058JJL0 |
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Tax consequences: |
See “Supplemental Discussion of U.S. Federal Income Tax Considerations” in the accompanying preliminary pricing supplement |
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The securities have more complex features than conventional debt securities and involve risks not associated with conventional debt securities. See “Risk Factors” in this term sheet and in the accompanying preliminary pricing supplement. 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 securities without reading the accompanying preliminary pricing supplement and related documents for a more detailed description of the underlying stock, the terms of the securities and certain risks.
About Your Securities |
GS Finance Corp. and The Goldman Sachs Group, Inc. have filed a registration statement (including a prospectus, as supplemented by the prospectus supplement, WFS product supplement no. 5 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, WFS product supplement no. 5 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, WFS product supplement no. 5 and preliminary pricing supplement if you so request by calling (212) 357-4612.
Risk Factors |
An investment in the securities is subject to risks. Many of the risks are described in the accompanying preliminary pricing supplement, accompanying WFS product supplement no. 5, accompanying prospectus supplement and accompanying prospectus. Below we have provided a list of risk factors discussed in the accompanying preliminary pricing supplement (but not those discussed in the accompanying WFS product supplement no. 5, accompanying prospectus supplement and accompanying prospectus). In addition to the below, you should read in full “Selected Risk Considerations” in the accompanying preliminary pricing supplement, “Risk Factors” in the accompanying WFS product supplement no. 5, as well as the risks and considerations described in the accompanying prospectus supplement and accompanying prospectus.
The following risk factors are discussed in greater detail in the accompanying preliminary pricing supplement:
Risks Related to Structure, Valuation and Secondary Market Sales ▪ The Estimated Value of Your Securities At the Time the Terms of Your Securities Are Set On the Pricing Date (as Determined By Reference to Pricing Models Used By GS&Co.) Is Less Than the Original Offering Price Of Your Securities ▪ The Securities Are Subject to the Credit Risk of the Issuer and the Guarantor ▪ You May Lose Your Entire Investment in the Securities ▪ You May Not Receive a Contingent Coupon on Any Contingent Coupon Payment Date ▪ Because the Securities Are Linked to the Performance of the Lowest Performing Underlying Stock, You Have a Greater Risk of Receiving No Contingent Coupons and Sustaining a Significant Loss on Your Investment Than If the Securities Were Linked to Just One Underlying Stock ▪ A Higher Contingent Coupon, a Lower Coupon Threshold Price and/or a Lower Downside Threshold Price May Reflect Greater Expected Volatility of the Underlying Stocks, and Greater Expected Volatility Generally Indicates An Increased Risk of Declines in the Prices of the Underlying Stocks and, Potentially, a Significant Loss at Maturity ▪ The Maturity Payment Amount Will Be Based Solely on the Lowest Performing Underlying Stock |
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▪ Your Securities Are Subject to Automatic Redemption ▪ The Return on Your Securities May Change Significantly Despite Only a Small Change in the Price of the Lowest Performing Underlying Stock ▪ The Contingent Coupon Does Not Reflect the Actual Performance of the Underlying Stocks from the Pricing Date to Any Calculation Day or from Calculation Day to Calculation Day ▪ The Market Value of Your Securities May Be Influenced by Many Unpredictable Factors ▪ We Will Not Hold Shares of the Underlying Stock for Your Benefit ▪ You Have No Shareholder Rights or Rights to Receive Any Underlying Stock Risks Related to Tax ▪ Certain Considerations for Insurance Companies and Employee Benefit Plans ▪ The Tax Consequences of an Investment in Your Securities Are Uncertain ▪ Foreign Account Tax Compliance Act (FATCA) Withholding May Apply to Payments on Your Securities, Including as a Result of the Failure of the Bank or Broker Through Which You Hold the Securities to Provide Information to Tax Authorities |
Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
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 securities without reading the accompanying preliminary pricing supplement and related documents for a more detailed description of the underlying stocks, the terms of the securities and certain risks.
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FAQ
What type of securities is GS offering in its June 2025 FWP filing?
What is the contingent coupon payment structure for GS's Market Linked Securities?
What is the estimated value of GS's Market Linked Securities at pricing?
What are the automatic call conditions for GS's Market Linked Securities?
What is the maximum potential loss for investors in these GS Market Linked Securities?
