<SEC-DOCUMENT>0001193125-25-271822.txt : 20251107
<SEC-HEADER>0001193125-25-271822.hdr.sgml : 20251107
<ACCEPTANCE-DATETIME>20251107131714
ACCESSION NUMBER:		0001193125-25-271822
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251107
DATE AS OF CHANGE:		20251107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDMAN SACHS GROUP INC
		CENTRAL INDEX KEY:			0000886982
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		ORGANIZATION NAME:           	02 Finance
		EIN:				134019460
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-284538
		FILM NUMBER:		251461722

	BUSINESS ADDRESS:	
		STREET 1:		200 WEST STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282
		BUSINESS PHONE:		212-902-1000

	MAIL ADDRESS:	
		STREET 1:		200 WEST STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDMAN SACHS GROUP INC/
		DATE OF NAME CHANGE:	20010104

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDMAN SACHS GROUP INC
		CENTRAL INDEX KEY:			0000886982
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		ORGANIZATION NAME:           	02 Finance
		EIN:				134019460
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		200 WEST STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282
		BUSINESS PHONE:		212-902-1000

	MAIL ADDRESS:	
		STREET 1:		200 WEST STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10282

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDMAN SACHS GROUP INC/
		DATE OF NAME CHANGE:	20010104
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>wonss010_fwp_gsg.htm
<DESCRIPTION>FWP
<TEXT>
<!-- DFIN ActiveDisclosure (SM) HTML Document - http://www.dfinsolutions.com/ --><!-- Creation Date :2025-11-07T13:01:49.2435+00:00 --><!-- Copyright (c) 2025 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<html>
 <head>
  <title>FWP</title>
 </head>
 <body style="padding:8px;margin:auto!important;z-index:0;-webkit-text-size-adjust:100%;position:relative;">
  <div style="padding-top:0.1in;z-index:2;min-height:0.2in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:2pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <div class="main-content-container" style="z-index:5;position:relative;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Free Writing Prospectus pursuant to Rule 433 dated November 7, 2025 / Registration Statement No. 333-284538</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#296dc1;white-space:pre-wrap;font-size:9pt;font-family:Arial;font-kerning:none;min-width:fit-content;">STRUCTURED INVESTMENTS &#x2013; Opportunities in U.S. and International Equities</font></p>
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:0.9645833333333333in;box-sizing:content-box;"></td>
     <td style="width:9.635416666666666in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:12pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><img src="img56558933_0.jpg" alt="img56558933_0.jpg" style="width:41px;height:40px;"></p></td>
     <td style="padding-top:0in;padding-left:0in;vertical-align:bottom;padding-bottom:0in;padding-right:0in;"><p style="font-size:12pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">GS Finance Corp.</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> </font></p>
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.600000000000001in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:4.3pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0in;padding-left:0.08in;vertical-align:top;padding-bottom:0in;padding-right:0.08in;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">Contingent Income Auto-Callable Securities Based on the Value of the Worst-Performing of the S&amp;P 500</font><font style="color:#296dc1;top:-5.159pt;white-space:pre-wrap;font-size:7.37pt;font-family:Arial;position:relative;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#296dc1;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;Index, the Nasdaq-100 Index</font><font style="color:#296dc1;top:-5.159pt;white-space:pre-wrap;font-size:7.37pt;font-family:Arial;position:relative;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#296dc1;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;and the EURO STOXX 50</font><font style="color:#296dc1;top:-5.159pt;white-space:pre-wrap;font-size:7.37pt;font-family:Arial;position:relative;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#296dc1;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;Index due November 16, 2028</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:2pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p>
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:2.502083333333333in;box-sizing:content-box;"></td>
     <td style="width:2.9555555555555557in;box-sizing:content-box;"></td>
     <td style="width:0.09930555555555556in;box-sizing:content-box;"></td>
     <td style="width:2.2874999999999996in;box-sizing:content-box;"></td>
     <td style="width:0.6506944444444464in;box-sizing:content-box;"></td>
     <td style="width:2.104861111111111in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:44.65pt;word-break:break-word;white-space:pre-wrap;">
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Principal at Risk Securities</font></p><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">The Contingent Income Callable Securities are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;"> </font></p><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">You should read the accompanying preliminary pricing supplement dated November 7, 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.</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Quarterly coupon observation period:</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">the period from but excluding each observation end date (or the pricing date, in the case of the first quarterly coupon observation period) to and including the next succeeding observation end date excluding any date or dates on which the calculation agent determines that a market disruption event with respect to any underlying index occurs or is continuing or that the calculation agent determines is not an index business day with respect to any underlying index</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td colspan="2" style="background-color:#0070c0;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#ffffff;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">KEY TERMS</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td rowspan="2" style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Index performance factor:</font></p></td>
     <td colspan="2" rowspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">with respect to each underlying index, the final index value / the initial index value</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Company (Issuer) / Guarantor</font><font style="color:#296dc1;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">:</font></p></td>
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">GS Finance Corp. / The Goldman Sachs Group, Inc.</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Worst performing underlying index:</font></p></td>
     <td colspan="2" rowspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">the underlying index with the lowest index performance factor</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="3" style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Underlying indexes (each individually, an underlying index):</font></p></td>
     <td rowspan="3" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">the S&amp;P 500</font><font style="color:#000000;top:-3.752pt;white-space:pre-wrap;font-size:5.36pt;font-family:Arial;position:relative;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;Index (current Bloomberg symbol: &#x201c;SPX Index&#x201d;), the Nasdaq-100 Index</font><font style="color:#000000;top:-3.752pt;white-space:pre-wrap;font-size:5.36pt;font-family:Arial;position:relative;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;(current Bloomberg symbol: &#x201c;NDX Index&#x201d;) and the EURO STOXX 50</font><font style="color:#000000;top:-3.752pt;white-space:pre-wrap;font-size:5.36pt;font-family:Arial;position:relative;font-kerning:none;min-width:fit-content;">&#174;  </font><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">Index (current Bloomberg symbol: &#x201c;SX5E Index&#x201d;)</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td rowspan="3" style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Worst performing index performance factor:</font></p></td>
     <td colspan="2" rowspan="3" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">the index performance factor of the worst performing underlying index</font></p></td>
    </tr>
    <tr style="word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Pricing date:</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">expected to price on or about November 11, 2025</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Original issue date:</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">expected to be November 14, 2025</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">CUSIP / ISIN:</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">40058QXS3 / US40058QXS38</font></p></td>
    </tr>
    <tr style="height:2.15pt;word-break:break-word;white-space:pre-wrap;">
     <td style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Observation end dates:</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">as set forth under &#x201c;Observation end dates&#x201d;</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td rowspan="2" style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Estimated value range:</font></p></td>
     <td colspan="2" rowspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">$920 to $980 (which is less than the original issue price; see the accompanying preliminary pricing supplement)</font></p></td>
    </tr>
    <tr style="height:8.65pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Coupon payment dates:</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">as set forth under &#x201c;Coupon payment dates&#x201d;</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Valuation date:</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">the last observation end date, expected to be November 13, 2028</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-family:Arial;font-kerning:none;min-width:fit-content;">Observation end dates</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-family:Arial;font-kerning:none;min-width:fit-content;">Coupon payment dates</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Stated maturity date:</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">expected to be November 16, 2028</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">February 11, 2026</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">February 17, 2026</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="8" style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Automatic call feature:</font></p></td>
     <td rowspan="8" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">if, as measured on any call observation date, the index closing value of each underlying index is greater than or equal to its initial index value, your securities will be automatically called and, in addition to any contingent quarterly coupon then due, you will receive $1,000 for each $1,000 principal amount. No payments will be made after the call payment date.</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">May 11, 2026</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">May 14, 2026</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">August 11, 2026</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">August 14, 2026</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">November 11, 2026</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">November 16, 2026</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">February 11, 2027</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">February 17, 2027</font></p></td>
    </tr>
    <tr style="height:7.2pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">May 11, 2027</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">May 14, 2027</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">August 11, 2027</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">August 16, 2027</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">November 11, 2027</font><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;"> </font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">November 16, 2027</font></p></td>
    </tr>
    <tr style="height:2.9pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">February 11, 2028</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">February 16, 2028</font></p></td>
    </tr>
    <tr style="height:7.2pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Call observation dates:</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">each coupon observation date specified in the table below commencing on May 11, 2026 and ending on August 11, 2028</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">May 11, 2028</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">May 16, 2028</font></p></td>
    </tr>
    <tr style="height:7.9pt;word-break:break-word;white-space:pre-wrap;">
     <td style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Call payment dates:</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">the coupon payment date immediately after the applicable call observation date</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">August 11, 2028</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">August 16, 2028</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="4" style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Payment at maturity (for each $1,000 stated principal amount of your securities, in addition to the final coupon, if any):</font></p></td>
     <td rowspan="4" style="padding-top:0.01in;text-indent:12.95pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><div class="item-list-element-wrapper" style="text-indent:0;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:2.398%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.398%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">if the final index value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">each</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">greater than</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> or </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">equal to</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its downside threshold level, $1,000; or</font></div></div><div class="item-list-element-wrapper" style="text-indent:0;display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:2.398%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.398%;word-break:keep-all;text-indent:0;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">if the final index value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">any</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">less than</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its downside threshold level, $1,000 &times; the worst performing index performance factor</font></div></div></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">November 13, 2028 (valuation date)</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">November 16, 2028 (stated maturity date)</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="3" style="background-color:#0070c0;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#ffffff;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">Hypothetical Payment Amount At Maturity</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;text-align:left;">
     <td colspan="3" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">The Securities Have </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-family:Arial;font-kerning:none;min-width:fit-content;">Not</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;Been Automatically Called</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Hypothetical Final Index Value of the Worst Performing Underlying Index (as Percentage of Initial Index Value)</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Hypothetical Payment at Maturity If the Securities Have Not Been Automatically Called on a Call Observation Date*</font><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;"> </font></p><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">(as Percentage of Stated Principal Amount)</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Initial index value:</font></p></td>
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">with respect to each underlying index, the index closing value of such underlying index on the pricing date</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">150.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">125.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="2" style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Final index value:</font></p></td>
     <td rowspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">with respect to each underlying index, the index closing value of such underlying index on the valuation date</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">110.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Coupon threshold level:</font></p></td>
     <td rowspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">with respect to each underlying index, 75.00% of such underlying index&#x2019;s initial index value</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">85.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">75.000%</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Downside threshold level:</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">with respect to each underlying index, 65.00% of such underlying index&#x2019;s initial index value</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">70.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td rowspan="6" style="background-color:#daeef4;padding-top:0.01in;text-indent:5.75pt;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="margin-left:1.067%;text-indent:0;font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:1.065%;text-align:left;"><font style="color:#296dc1;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">Contingent quarterly coupon:</font></p></td>
     <td rowspan="6" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:middle;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">subject to the automatic call feature, on each coupon payment date, for each $1,000 of the outstanding principal amount, the company will pay an amount in cash equal to:</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:2.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.269%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">if the index closing value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">each </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">underlying index on </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">every</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> index business day during the preceding quarterly coupon observation period is </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">greater than</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> or </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">equal to</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its coupon threshold level, $25.00; or </font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:2.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.269%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">if the index closing value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">any</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index on </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;">any</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> index business day during the preceding quarterly coupon observation period is </font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">less than</font><font style="color:#000000;white-space:pre-wrap;font-size:8pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its coupon threshold level, $0.00</font></div></div></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">65.000%</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">100.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">64.999%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">64.999%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">50.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">50.000%</font></p></td>
    </tr>
    <tr style="height:2.15pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">25.000%</font></p></td>
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">25.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="2" style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">0.000%</font></p></td>
     <td style="background-color:#daeef4;padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-kerning:none;min-width:fit-content;">0.000%</font></p></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:6pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p></td>
     <td colspan="3" style="padding-top:0.01in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0.01in;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-kerning:none;min-width:fit-content;">* Does not include the final contingent quarterly coupon, if any</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <div style="z-index:2;flex-direction:column;display:flex;padding-bottom:0.1in;min-height:0.2in;justify-content:flex-end;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:1pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p>
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.593055555555557in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;text-indent:1.45pt;border-left:0.5pt solid;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0in;"><p style="margin-left:0.267%;text-indent:0;font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">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 indexes (including historical index closing values), the terms of the securities and certain risks.</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:4pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <hr style="margin-inline-start:auto;margin-inline-end:auto;page-break-after:always;">
  <div style="padding-top:0.18in;z-index:2;min-height:0.5in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:2pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <div class="main-content-container" style="z-index:5;position:relative;">
   <table style="border-spacing:0;table-layout:fixed;width:97.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:9.874305555555557in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:11pt;background-color:#0070c0;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0in;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;"><p style="font-size:11pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#ffffff;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">About Your Securities</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:3pt;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The amount that you will be paid on your securities is based on the performance of the worst performing of the S&amp;P 500</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> Index, the Nasdaq-100 Index</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> and the EURO STOXX 50</font><font style="color:#000000;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> Index. The securities may be automatically called on any call observation date.</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Unless previously automatically called, (i) if the index closing value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">any</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">less than</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its coupon threshold level on any index business day during the preceding quarterly coupon observation period, </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">you will </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">not</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> receive a payment on the applicable coupon payment date</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> and (ii) if the index closing value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">each</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">greater than</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> or </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">equal to</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its coupon threshold level on every index business day during the preceding quarterly coupon observation period, you will receive on the applicable coupon payment date a contingent quarterly coupon.</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Your securities will be automatically called if the index closing value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">each</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index on any call observation date is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">greater than </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">or </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">equal to </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">its initial index value, resulting in a payment on the applicable call payment date equal to the principal amount of your securities </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">plus</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> any contingent quarterly coupon then due. No payments will be made after the call payment date.</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">  </font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">At maturity, if not previously automatically called, (i) if the final index value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">each</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index on the valuation date is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">greater than</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> or </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">equal to</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its coupon threshold level you will receive the principal amount of your securities plus any contingent quarterly coupon then due, (ii) if the final index value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">any</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">less than </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">its coupon threshold level but the final index value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">each</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">greater than </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">or </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">equal to </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">its downside threshold level, </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">you will </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">not</font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> receive a contingent quarterly coupon payment</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> </font><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">but you will receive the principal amount of your securities</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> or (iii) if the final index value of </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">any</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> underlying index is </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">less than</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> its downside threshold level, you will </font><font style="color:#000000;white-space:pre-wrap;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">not</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> receive a contingent quarterly coupon payment, the payment at maturity will be based on the performance of the underlying index with the </font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">lowest</font><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> index performance factor and you will receive significantly less than the principal amount of your securities. Investors will not participate in any appreciation of any underlying index.</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The securities are for investors who seek to earn a contingent quarterly coupon at an above current market rate in exchange for the risk of receiving few or no contingent quarterly coupons and losing a significant portion or all of the principal amount of their securities.</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">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. 46, general terms supplement no. 17,744 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. 46, general terms supplement no. 17,744 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. 46, general terms supplement no. 17,744 and preliminary pricing supplement if you so request by calling (212) 357-4612.</font></p><p style="font-size:10pt;margin-top:3pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The securities 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:</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><a href="https://www.sec.gov/Archives/edgar/data/886982/000119312525271742/wonss010_prelim.htm"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Preliminary pricing supplement dated November 7, 2025</font></a></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><a href="https://www.sec.gov/Archives/edgar/data/886982/000119312525243221/gts_no._17744_2025_shelf.htm"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">General terms supplement no. 17,744 dated October 20, 2025</font></a></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><a href="https://www.sec.gov/Archives/edgar/data/886982/000119312525211606/underlier_supplement_no.htm"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Underlier supplement no. 46 dated September 22, 2025</font></a></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><a href="https://www.sec.gov/Archives/edgar/data/886982/000119312525027380/d891153d424b2.htm"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Prospectus supplement dated February 14, 2025</font></a></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:6pt;justify-content:flex-start;align-items:baseline;margin-bottom:0;min-width:4.537%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:4.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x2022;</font><div style="display:inline;"><a href="https://www.sec.gov/Archives/edgar/data/886982/000119312525027379/d860775d424b2.htm"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Prospectus dated February 14, 2025</font></a></div></div></div>
  <div style="z-index:2;flex-direction:column;display:flex;padding-bottom:0.19in;min-height:0.2in;justify-content:flex-end;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:1pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p>
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.172916666666667in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:8pt;word-break:break-word;white-space:pre-wrap;">
     <td style="border-top:0.5pt solid;padding-top:0in;border-right:0.5pt solid;text-indent:1.45pt;border-left:0.5pt solid;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0in;"><p style="margin-left:0.267%;text-indent:0;font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;margin-right:0.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">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 indexes (including historical index closing values), the terms of the securities and certain risks.</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:4pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <hr style="margin-inline-start:auto;margin-inline-end:auto;page-break-after:always;">
  <div style="padding-top:0.5in;z-index:2;min-height:0.69in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:2pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <div class="main-content-container" style="z-index:5;position:relative;">
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.119444444444445in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:8.65pt;background-color:#0070c0;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0in;text-indent:5.75pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;"><p style="margin-left:1.067%;text-indent:0;font-size:11pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:1pt;text-align:left;"><font style="color:#ffffff;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">RISK FACTORS</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:3pt;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">An investment in the securities is subject to risks. Many of the risks are described in the accompanying preliminary pricing supplement, accompanying general terms supplement no. 17,744, accompanying underlier supplement no. 46, accompanying prospectus supplement and accompanying prospectus. Below we have provided a list of certain risk factors discussed in such documents. In addition to the below, you should read in full &#x201c;Risk Factors&#x201d; in the accompanying preliminary pricing supplement, &#x201c;Additional Risk Factors Specific to the Notes&#x201d; in the accompanying general terms supplement no. 17,744, &#x201c;Additional Risk Factors Specific to the Securities&#x201d; in the accompanying underlier supplement no. 46, as well as the risks and considerations described in the accompanying prospectus supplement and accompanying prospectus. Your securities are a riskier investment than ordinary debt securities. Also, your securities are not equivalent to investing directly in the underlying index stocks, i.e., with respect to an underlying index to which your securities are linked, the stocks comprising such underlying index. You should carefully consider whether the offered securities are appropriate given your particular circumstances.</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The following risk factors are discussed in greater detail in the accompanying preliminary pricing supplement:</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Risks Related to Structure, Valuation and Secondary Market Sales</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Securities Are Subject to the Credit Risk of the Issuer and the Guarantor </font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">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&amp;Co.) Is Less Than the Original Issue Price Of Your Securities</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">You May Lose Your Entire Investment in the Securities</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Return on Your Securities May Change Significantly Despite Only a Small Incremental Change in the Value of the Worst Performing Underlying Index</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">You May Not Receive a Contingent Quarterly Coupon on Any Coupon Payment Date, and the Potential to Receive a Contingent Quarterly Coupon on a Coupon Payment Date May Terminate at Any Time During the Applicable Quarterly Coupon Observation Period</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Your Securities Are Subject to Automatic Redemption</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Contingent Quarterly Coupon Does Not Reflect the Actual Performances of the Underlying Indexes and Investors Will Not Participate in Any Appreciation of the Underlying Indexes</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Payment of the Contingent Quarterly Coupon, If Any, and the Payment at Maturity Will Be Based Solely on the Worst Performing Underlying Index</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Because the Securities Are Linked to the Performance of the Worst Performing Underlying Index, You Have a Greater Risk of Receiving No Contingent Quarterly Coupons and Sustaining a Significant Loss on Your Investment Than If the Securities Were Linked to Just One Underlying Index</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">You are Exposed to the Market Risk of Each Underlying Index</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Market Value of Your Securities May Be Influenced By Many Unpredictable Factors</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Investing in the Securities Is Not Equivalent to Investing in the Underlying Indexes; You Have No Shareholder Rights or Rights to Receive Any Underlying Index Stock</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">We May Sell an Additional Aggregate Stated Principal Amount of the Securities at a Different Issue Price</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">If You Purchase Your Securities at a Premium to Stated Principal Amount, the Return on Your Investment Will Be Lower Than the Return on Securities Purchased at Stated Principal Amount and the Impact of Certain Key Terms of the Securities Will Be Negatively Affected</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Risks Related to the Conflicts of Interest</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Other Investors May Not Have the Same Interests as You</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Additional Risks Related to the Nasdaq-100 Index</font><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> and the EURO STOXX 50</font><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> Index</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">An Investment in the Offered Securities Is Subject to Risks Associated with Foreign Securities</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Government Regulatory Action, Including Legislative Acts and Executive Orders, Could Result in Material Changes to the Composition of an Underlying Index with Underlying Index Stocks from One or More Foreign Securities Markets and Could Negatively Affect Your Investment in the Securities</font></div></div></div>
  <div style="z-index:2;flex-direction:column;display:flex;padding-bottom:0.19in;min-height:0.69in;justify-content:flex-end;position:relative;box-sizing:border-box;">
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.1125in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;">
     <td style="border-top:0.5pt solid;padding-top:0.01in;border-right:0.5pt solid;text-indent:1.45pt;border-left:0.5pt solid;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.01in;"><p style="margin-left:0.267%;text-indent:0;font-size:10pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:1pt;margin-right:0.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">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 indexes (including historical index closing values), the terms of the securities and certain risks.</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:7pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <hr style="margin-inline-start:auto;margin-inline-end:auto;page-break-after:always;">
  <div style="padding-top:0.5in;z-index:2;min-height:0.69in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:2pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <div class="main-content-container" style="z-index:5;position:relative;"><p style="font-size:10pt;margin-top:3pt;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Additional Risks Related to the Nasdaq-100 Index</font><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">As Compared to Other Index Publishers, Nasdaq, Inc. Retains Significant Control and Discretionary Decision-Making Over the Nasdaq-100 Index</font><font style="color:#5f5f5f;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">, Which May Have an Adverse Effect on the Level of the Nasdaq-100 Index</font><font style="color:#5f5f5f;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> and on Your Securities </font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Risks Related to Tax</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Tax Consequences of an Investment in Your Securities Are Uncertain</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Non-United States Holders Should Consider the Withholding Tax Implications of Owning the Securities</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">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</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The following risk factors are discussed in greater detail in the accompanying general terms supplement no. 17,744:</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Risks Related to Structure, Valuation and Secondary Market Sales</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">If the Value of an Underlier Changes, the Market Value of Your Notes May Not Change in the Same Manner</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Return on Your Notes Will Not Reflect Any Dividends Paid on Any Underlier, or Any Underlier Stock, as Applicable</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Past Performance is No Guide to Future Performance</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Your Notes May Not Have an Active Trading Market</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Calculation Agent Will Have the Authority to Make Determinations That Could Affect the Market Value of Your Notes, When Your Notes Mature and the Amount, If Any, Payable on Your Notes</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Calculation Agent Can Postpone the Determination Date, Averaging Date, Call Observation Date or Coupon Observation Date If a Market Disruption Event or Non-Trading Day Occurs or Is Continuing</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Risks Related to Conflicts of Interest</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Hedging Activities by Goldman Sachs or Our Distributors May Negatively Impact Investors in the Notes and Cause Our Interests and Those of Our Clients and Counterparties to be Contrary to Those of Investors in the Notes</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Goldman Sachs&#x2019; Trading and Investment Activities for its Own Account or for its Clients Could Negatively Impact Investors in the Notes</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Goldman Sachs&#x2019; Market-Making Activities Could Negatively Impact Investors in the Notes</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">You Should Expect That Goldman Sachs Personnel Will Take Research Positions, or Otherwise Make Recommendations, Provide Investment Advice or Market Color or Encourage Trading Strategies That Might Negatively Impact Investors in the Notes</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Goldman Sachs Regularly Provides Services to, or Otherwise Has Business Relationships with, a Broad Client Base, Which May Include the Sponsors of the Underlier or Underliers or Constituent Indices, As Applicable, the Investment Advisors of the Underlier or Underliers, As Applicable, or the Issuers of the Underlier or the Underlier Stocks or Other Entities That Are Involved in the Transaction</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Offering of the Notes May Reduce an Existing Exposure of Goldman Sachs or Facilitate a Transaction or Position That Serves the Objectives of Goldman Sachs or Other Parties</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Risks Related to Tax</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Certain Considerations for Insurance Companies and Employee Benefit Plans</font></div></div></div>
  <div style="z-index:2;flex-direction:column;display:flex;padding-bottom:0.19in;min-height:0.69in;justify-content:flex-end;position:relative;box-sizing:border-box;">
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.1125in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;">
     <td style="border-top:0.5pt solid;padding-top:0.01in;border-right:0.5pt solid;text-indent:1.45pt;border-left:0.5pt solid;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.01in;"><p style="margin-left:0.267%;text-indent:0;font-size:10pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:1pt;margin-right:0.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">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 indexes (including historical index closing values), the terms of the securities and certain risks.</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:7pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <hr style="margin-inline-start:auto;margin-inline-end:auto;page-break-after:always;">
  <div style="padding-top:0.5in;z-index:2;min-height:0.69in;position:relative;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:2pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <div class="main-content-container" style="z-index:5;position:relative;"><p style="font-size:10pt;margin-top:3pt;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The following risk factors are discussed in greater detail in the accompanying underlier supplement no. 46:</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Additional Risks Relating to Securities Linked to Underliers that are Equity Indices</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">If Your Securities Are Linked to an Equity Index, the Policies of the Applicable Underlier Sponsor and Changes that Affect Such Underlier, or the Constituent Indices or Underlier Stocks Comprising Such Underlier, Could Affect the Amount Payable on Your Securities and Their Market Value</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">If Your Securities Are Linked to an Equity Index, Except to the Extent The Goldman Sachs Group, Inc. Is One of the Companies Whose Common Stock Comprises the Applicable Underlier, and Except to the Extent That We or Our Affiliates May Currently or in the Future Own Securities of, or Engage in Business With, the Applicable Underlier Sponsor or the Issuers of the Underlier Stocks, There Is No Affiliation Between the Issuers of the Underlier Stocks or Such Underlier Sponsor and Us</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;text-decoration:underline solid;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Additional Risks Relating to Securities Linked to Underliers Denominated in Foreign Currencies or that Contain Foreign Stocks</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">If Your Securities Are Linked to Underliers That Are Comprised of Underlier Stocks Which Are Traded in Foreign Currencies But Are Not Adjusted to Reflect Their U.S. Dollar Value, the Return on Your Securities Will Not Be Adjusted for Changes in the Foreign Currency Exchange Rate</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The following risk factors are discussed in greater detail in the accompanying prospectus supplement:</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Return on Indexed Notes May Be Below the Return on Similar Securities</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The Issuer of a Security or Currency That Serves as an Index Could Take Actions That May Adversely Affect an Indexed Note</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">An Indexed Note May Be Linked to a Volatile Index, Which May Adversely Affect Your Investment</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">An Index to Which a Note Is Linked Could Be Changed or Become Unavailable</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">We May Engage in Hedging Activities that Could Adversely Affect an Indexed Note</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">Information About an Index or Indices May Not Be Indicative of Future Performance</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">We May Have Conflicts of Interest Regarding an Indexed Note</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The following risk factors are discussed in greater detail in the accompanying prospectus:</font></p><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">Risks Relating to Regulatory Resolution Strategies and Long-Term Debt Requirements</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The application of regulatory resolution strategies could increase the risk of loss for holders of our securities in the event of the resolution of Group Inc.</font></div></div><div class="item-list-element-wrapper" style="display:flex;margin-top:0;justify-content:flex-start;align-items:baseline;margin-bottom:3pt;min-width:2.537%;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-kerning:none;min-width:2.537%;word-break:keep-all;display:inline-flex;justify-content:flex-start;">&#x25aa;</font><div style="display:inline;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">The application of Group Inc.&#x2019;s proposed resolution strategy could result in greater losses for Group Inc.&#x2019;s security holders</font></div></div><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:3pt;text-align:left;"><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">For details about the license agreement between each underlying index publisher and the issuer, see &#x201c;The Underliers &#x2014; S&amp;P 500</font><font style="color:#5f5f5f;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> Index&#x201d;, &#x201c;The Underliers &#x2014; Nasdaq-100 Index</font><font style="color:#5f5f5f;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#x201d; and &#x201c;The Underliers &#x2014; EURO STOXX 50</font><font style="color:#5f5f5f;white-space:pre-wrap;vertical-align:super;font-size:6.7pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#174;</font><font style="color:#5f5f5f;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;"> Index&#x201d; on pages S-127, S-65 and S-35 of the accompanying underlier supplement no. 46, respectively.</font></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">&#160;</font></p>
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.119444444444445in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:8.65pt;background-color:#0070c0;word-break:break-word;white-space:pre-wrap;">
     <td style="padding-top:0in;text-indent:5.75pt;padding-left:0in;vertical-align:top;padding-bottom:0in;padding-right:0in;"><p style="margin-left:1.067%;text-indent:0;font-size:11pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:1pt;text-align:left;"><font style="color:#ffffff;white-space:pre-wrap;font-weight:bold;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">TAX CONSIDERATIONS</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;font-kerning:none;min-width:fit-content;">You should review carefully the discussion in the accompanying preliminary pricing supplement under the caption &#x201c;Supplemental Discussion of U.S. Federal Income Tax Consequences&#x201d; concerning the U.S. federal income tax consequences of an investment in the securities, and you should consult your tax advisor.</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;font-kerning:none;min-width:fit-content;"> </font></p></div>
  <div style="z-index:2;flex-direction:column;display:flex;padding-bottom:0.19in;min-height:0.69in;justify-content:flex-end;position:relative;box-sizing:border-box;">
   <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;">
    <tr style="visibility:collapse;">
     <td style="width:10.1125in;box-sizing:content-box;"></td>
    </tr>
    <tr style="height:10pt;word-break:break-word;white-space:pre-wrap;">
     <td style="border-top:0.5pt solid;padding-top:0.01in;border-right:0.5pt solid;text-indent:1.45pt;border-left:0.5pt solid;padding-left:0in;vertical-align:top;padding-bottom:0in;border-bottom:0.5pt solid;padding-right:0.01in;"><p style="margin-left:0.267%;text-indent:0;font-size:10pt;margin-top:1pt;font-family:Times New Roman;margin-bottom:1pt;margin-right:0.269%;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-family:Arial;font-style:italic;font-kerning:none;min-width:fit-content;">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 indexes (including historical index closing values), the terms of the securities and certain risks.</font></p></td>
    </tr>
   </table><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;margin-left:0;margin-right:0;"><font style="white-space:pre-wrap;font-size:7pt;font-family:Times New Roman;font-kerning:none;min-width:fit-content;">&#160;</font></p></div>
  <hr style="margin-inline-start:auto;margin-inline-end:auto;page-break-after:always;">
 </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>img56558933_0.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 img56558933_0.jpg
M_]C_X  02D9)1@ ! 0$ W #<  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1" !< %T# 2(  A$! Q$!_\0
M'0   P # 0$! 0            <(!08)! (! __$ $@0   $!0$#!0L)! L
M      $" P4 ! 8'$0@2(3$305%7E0D4%A<B.&%TL;/3%2,R-W6!D:'1&$)%
M4B0E)RA#<862HK+!_\0 % $!                     /_$ !01 0
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M26,9&?5  '8VA$  HYP&,CNC1+E=T"K=NTGV]NPQ-C?+.3TXBWSTA,%$Z0F
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MREET5"CY9E3@'EESC'3#TM++C5%25-355413\HFPJ)&D)IO1 \O-)J%VN4(
MAY/W0$'W*KJHKE7$U(-=;KS"B3*RJ(4XUG Q$Q#(;)R$_P 0PAOSOXPJ:Z>I
M>;[G=;!C1VU7&3J$RLPD4@CR8"8V 'TQVD6HA@F)].=59I%2<3+R95S2Y1/L
MXQC..'HCREM=2))7O8*;; EN4%7D>]2;&V/$V,<8#FU4YA/W1"P:@;R%8),I
MC\P#R1MPCS0UF0W]ZR_GK37[E6+5+0=.?*",\#'(]^(  )3 H%Y0@!P !QD
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KZU:Z[00^!&Q6!L"TD>JR?9Q_J!U=G@\JI-S4_-)J'.)"G*7&$PQN& __V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
