Defensive Step-Down Kick Out Plan – Issue 1

INVESTMENT DESCRIPTION

This is a 5 years 2 weeks Plan linked to the performance of S&P 500 & EURO STOXX 50. The Plan is constructed to offer a potential return of 8.00% p.a. if on any annual Observation date, starting at year 2, the Underlying indices are at or above the relevant Kick Out Level.

CURRENCY GBP

STRIKE DATE 14/04/2026

ISIN XS3203231777

COUNTERPARTY Goldman Sachs

TYPE Plan

RETURN & BARRIERS
Deposit Taker: Goldman Sachs
Investment Term: 5 years 2 weeks
Investment Return: 8.00% p.a. if on any annual Observation date, starting at year 2, the Underlying Indices are at or above the relevant Kick Out Levels.
Capital Protection: 65% capital protected of initial level.

NEXT POTENTIAL MATURITY DATE
18/04/2028

FINAL MATURITY DATE
22/04/2031