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Ledger Reporting

TxB APIs allow Clients to track real-time ledger activity. Clients use this service to understand what transactions have impacted their TxB account balance today (real-time, intraday) or on previous days (end of day, prior days).

Step by step guide

Step 1 - Get a list of all referenceNumbers

Our ledger activities APIs provide information on an account or service level. So, our first step is to get a list of the accounts or services ('referenceNumbers') associated with a TxB Client.

info

Note

referenceNumber is the unique identifier of a TxB account or service

GET /v1/reports/transactionReports/reportReferences will return a list of accounts or services that the Client currently uses. It returns 2 referenceNumbers, 1 for a deposit account and 1 for a payments only service.

[
  {
    "referenceNumber": "123456789012",
    "referenceType": "DEPOSITACCOUNT", \\ can be Deposit Account or Payments Service Number
    "isVirtual": false
  },
  {
    "referenceNumber": "123456789011",
    "referenceType": "PAYMENTSONLY", \\ can be Deposit Account or Payments Service Number
    "isVirtual": false
  }
]

Step 2 - Get the transactionReport for the TxB deposit account

GET /v2/reports/transactionReports?referenceNumber='123456789012'&businessDate='10-11-2020&limit=10' returns the full balance info for the account and the first 10 transactions for the requested businessDate:

{
  "asOfDateTime": "2020-10-11T23:52:42.279Z",
  "references": {
    "referenceNumber": "123456789012",  // aka  accountNumber
    "referenceType": "DEPOSITACCOUNT",
    "currency": "USD",
    "jurisdiction": "US",               // Identifies the country of the TxB Branch
    "referenceBank": {...},             // Identifies the BIC, Routing Number of the TxB account
    "isVirtual": false,
    "virtualAccountDetails": {          // shows virtual account hierarchy
     "parentAccountNumber": null,
     "physicalAccountNumber": null
    },

  "balances": [
    {
      "balanceType": "AVAILABLE",
      "startOfDayBalance": 2000,
      "endOfDayBalance": null,
      "currentBalance": 1000
    },
    {
      "balanceType": "LEDGER",
      "startOfDayBalance": 2000,
      "endOfDayBalance": null,
      "currentBalance": 1000
    }
  ],
  "transactions": [
    {
      "postingDate": "2020-10-11T16:52:42.279Z",
      "valueDate": "2020-10-11",
      "transactionType": "Outgoing Wire Return",
      "transactionTypeCode": {
        "domainCode": "PMNT",
        "familyCode": "ICDT",
        "subFamilyCode": "RRTN"
      },
      "transactionDescription": "---"
      "returnReasonCode": "AM06"           // Return reason code is populated if available.
      "returnReasonDescription": "Specified transaction amount is less than agreed minimum"    // Return reason description is populated as per the reason code.
      "debitOrCredit": "CREDIT"
      "amount": 1000.00 ,
      "amountCurrency": "USD"
      "identifiers": {
        "gsUniquePaymentId": "Id_TxB_Created)",
        "paymentEndToEndId": "Id_You_Created"
        ...
      },
      "linkedRecords": {...}             // E.g., returns link to the original payment
      ...
    }
    ...
  ],
  "hasMore": false
}

Step 3 - Interpret the data & repoll if necessary

Based on the data that we return, you will need to perform some analysis and figure out if there are any additional actions required

  • References object

    1. Use this section to understand how this account fits into a broader portfolio of accounts
    2. E.g., if this is a multi-currency account or virtual account, you may need to repeat this query on each virtual account to create a full view of transaction activity

  • Balances array

    1. Use this section to understand how much liquidity is available in the account
    2. In this case, the endOfDayBalance is null, which means that the 'books' have not closed on the account for the day. You may want to poll again at the end of the day (e.g., ~8pm EST) when endOfDayBalance is populated
    3. The balances and transactions tie out as expected. balances[0].startOfDay - transactions[0].amount = balances[0].currentBalance

  • Transactions array

    1. There is only 1 transaction available for this account on this businessDate. Note that hasMore equals false, so there aren't any additional pages of transactions to pull for this account
    2. Each transaction is uniquely identified by the gsUniquePaymentId (think of this as your transactionId)
    3. In most cases, 1 payment equals 1 transaction, e.g., if I make an outbound wire payment from TxB to another bank, this single wire payment will be reflected as a single transaction
    4. In other cases, 1 payment equals more than 1 transaction, e.g., if that same wire payment is returned by the receiving bank, then you will see two transactions in your account (1 for the payment and 1 for the return)
    5. In yet other cases, more than 1 payment equals 1 transaction, e.g., for bulk-processed payments (e.g., US ACH), all N payments within a payment batch will be treated as a single transaction

Reference materials

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Learn more about common patterns and standards that TxB APIs use

Transaction Reports API - Standard Version - Sample Response

{
    "asOfDateTime": "2026-06-12T06:43:58.309023017Z",
    "references": {
        "referenceNumber": "107049924",
        "referenceName": "Petrochemicals 2",
        "referenceBank": {
            "bic": "GSCRUS30",
            "routingInfo": null,
            "bankName": "Goldman Sachs Bank"
        },
        "referenceType": "DEPOSITACCOUNT",
        "jurisdiction": "US",
        "currency": "USD",
        "isVirtual": false,
        "virtualAccountDetails": null
    },
    "balances": [
        {
            "balanceType": "LEDGER",
            "startOfDayBalance": 2703779455.98,
            "endOfDayBalance": 2703777725.20,
            "currentBalance": null
        },
        {
            "balanceType": "AVAILABLE",
            "startOfDayBalance": 2698560464.62,
            "endOfDayBalance": 2698558733.84,
            "currentBalance": null
        }
    ],
    "transactions": [
        {
            "postingDate": "2026-05-22T11:05:01Z",
            "valueDate": "2026-05-22",
            "transactionType": "ACH Credit Payment",  // Transaction Type is populated here
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "ACDT"
            },
            "transactionDescription": "Entry Description: EXP; -, SEC: CCD, Client Ref ID: 1111, GS ID: BP26142124973427",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 691.23,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": null,
                "collectionRequestId": null,
                "paymentEndToEndId": null,  // end to end Id is not populated in case of batch postings in standard version
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "BP26142124973427",  // since US ACH is a batch rail, batch level GS ID is populated
                "gsPostingIds": [
                    "BP26142124973427"
                ],
                "railReferenceId": {     // rail clearing system reference Id is populated if available
                    "rail": "ACH",
                    "railId": null
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": null,   // since this is a batch posting, creditor details are not populated.
            "debtorAccount": {      
                "accountHolderName": "Petro",
                "accountNumber": "107049924 ",
                "iban": null,
                "bankIdentifier": {
                    "bic": null,
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": ""
            },
            "messagesFromOriginator": {
                "remittanceInfo": null,
                "paymentPurpose": null,
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": {
                "rail": "ACH",       // ACH specific information is populated in case of US ACH transactions
                "ACHInfo": {
                    "secCode": "CCD",
                    "companyName": "Continental Petro",
                    "companyId": "2880566438",
                    "companyEntryDescription": "EXP",
                    "companyDescriptiveDate": null,
                    "sameOrNextDay": null
                },
                "SepaMandateInfo": null
            },
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        },
        {
            "postingDate": "2026-05-22T17:25:44Z",
            "valueDate": "2026-05-22",
            "transactionType": "Outgoing Wire",
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "DMCT"
            },
            "transactionDescription": "To: UFXQHBE RQHZK OOYV QAA, Remittance Info: \"USD Payment from QAD account\", Client Ref ID: GSU7BZOADPQ, GS ID: GI2614202810249, Clearing Ref: 20260522MMQFMCZZ000157",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 10.00,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": "GSU7BZOADPQ",
                "collectionRequestId": null,
                "paymentEndToEndId": "GSU7BZOADPQ",   // end to end Id provided by client is populated in case of non-batch postings in standard version
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "GI2614202810249",    // since this is a wire transaction, payment level GS ID is populated
                "gsPostingIds": [
                    "GI2614202810249"
                ],
                "railReferenceId": {
                    "rail": "FEDWIRE",
                    "railId": "20260522MMQFMCZZ000157"
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": {      // since this is a wire payment, creditor details are populated.
                "accountHolderName": "UFXQHBE RQHZK OOYV QAA",
                "accountNumber": "12345678",
                "iban": null,
                "bankIdentifier": {
                    "bic": "ROYCCAT2",
                    "routingInfo": null
                },
                "legalEntityIdentifier": ""
            },
            "debtorAccount": {
                "accountHolderName": "Petrochemicals",
                "accountNumber": "107049924",
                "iban": null,
                "bankIdentifier": {
                    "bic": "GSCRUS30XXX",
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": "B1V7KEBTPIMZEU4LTD58"
            },
            "messagesFromOriginator": {
                "remittanceInfo": [        // Remittance information is populated if available
                    "USD Payment from QAD account"
                ],
                "paymentPurpose": "Tax Payment",
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": null,
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        },
        {
            "postingDate": "2026-05-22T17:31:46Z",
            "valueDate": "2026-05-22",
            "transactionType": "Transfer",
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "BOOK"
            },
            "transactionDescription": "To: GOLDMAN SACHS BANK USA, Account: XXXXX-9932, Remittance Info: \"USD Payment from USD account USD Payment from USD account USD Payment from USD account USD Payment from USD account USD Payment from USD acc\", Client Ref ID: GSJ8ZWIZ7EGRND, GS ID: GI2614202810190",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 13.01,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": "GSWQDEV4FRO",
                "collectionRequestId": null,
                "paymentEndToEndId": "GSJ8ZWIZ7EGRND",
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "GI2614202810190",
                "gsPostingIds": [
                    "GI2614202810190"
                ],
                "railReferenceId": {
                    "rail": "BOOK",
                    "railId": "GI2614202810190"
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": {
                "accountHolderName": "GOLDMAN SACHS BANK USA",
                "accountNumber": "107049932",
                "iban": null,
                "bankIdentifier": {
                    "bic": "GSCRUS30XXX",
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": ""
            },
            "debtorAccount": {
                "accountHolderName": "Continental Petrochemicals",
                "accountNumber": "107049924",
                "iban": null,
                "bankIdentifier": {
                    "bic": "GSCRUS30",
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": "B1V7KEBTPIMZEU4LTD58"
            },
            "messagesFromOriginator": {
                "remittanceInfo": [
                    "USD Payment from USD account USD Payment from USD account USD Payment from USD account USD Payment from USD account USD Payment from USD acc"
                ],
                "paymentPurpose": "Tax Payment",
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": null,
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        }
    ],
    "hasMore": false
}

Transaction Reports API - Itemized Version - Sample Response

{
    "asOfDateTime": "2026-06-12T06:46:37.690342198Z",
    "references": {
        "referenceNumber": "107049924",
        "referenceName": "Continental Petrochemicals ACH Test 2",
        "referenceBank": {
            "bic": "GSCRUS30",
            "routingInfo": null,
            "bankName": "Goldman Sachs Bank"
        },
        "referenceType": "DEPOSITACCOUNT",
        "jurisdiction": "US",
        "currency": "USD",
        "isVirtual": false,
        "virtualAccountDetails": null
    },
    "balances": [
        {
            "balanceType": "LEDGER",
            "startOfDayBalance": 2703779455.98,
            "endOfDayBalance": 2703777725.20,
            "currentBalance": null
        },
        {
            "balanceType": "AVAILABLE",
            "startOfDayBalance": 2698560464.62,
            "endOfDayBalance": 2698558733.84,
            "currentBalance": null
        }
    ],
    "transactions": [
        {
            "postingDate": "2026-05-22T11:05:01Z",
            "valueDate": "2026-05-22",
            "transactionType": "ACH Credit Payment",
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "ACDT"
            },
            "transactionDescription": "Entry Description: EXP; -, SEC: CCD, Client Ref ID: 1111, GS ID: BP26142124973427",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 234.56,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": null,
                "collectionRequestId": null,
                "paymentEndToEndId": "GSUSDBKQQN0O",  // end to end Id is populated in case of batch rail postings in the itemized version
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "SB2614203525702",  // Since this is an itemized version, payment level GS ID is populated for batch based rails as well.
                "gsPostingIds": [
                    "BP26142124973427"  // This is the batch level GS ID and can be used to consolidate all the payments of a single batch in the itemized version.
                ],
                "railReferenceId": {
                    "rail": "ACH",
                    "railId": "GSY7FILK1R"
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": {   // In the itemized version, creditor details are populated for each payment inside the batch.
                "accountHolderName": "SMALL COMPANY 1",
                "accountNumber": "098765432",
                "iban": null,
                "bankIdentifier": {
                    "bic": null,
                    "routingInfo": {
                        "code": "USABA",
                        "value": "021000089"
                    }
                },
                "legalEntityIdentifier": ""
            },
            "debtorAccount": {
                "accountHolderName": "Petro",
                "accountNumber": "107049924",
                "iban": null,
                "bankIdentifier": {
                    "bic": null,
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": "B1V7KEBTPIMZEU4LTD58"
            },
            "messagesFromOriginator": {
                "remittanceInfo": null,
                "paymentPurpose": null,
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": {
                "rail": "ACH",
                "ACHInfo": {
                    "secCode": "CCD",
                    "companyName": "Continental Petro",
                    "companyId": "2880566438",
                    "companyEntryDescription": "EXP",
                    "companyDescriptiveDate": null,
                    "sameOrNextDay": null
                },
                "SepaMandateInfo": null
            },
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        },
        {
            "postingDate": "2026-05-22T11:05:01Z",
            "valueDate": "2026-05-22",
            "transactionType": "ACH Credit Payment",
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "ACDT"
            },
            "transactionDescription": "Entry Description: EXP; -, SEC: CCD, Client Ref ID: 1111, GS ID: BP26142124973427",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 456.67,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": null,
                "collectionRequestId": null,
                "paymentEndToEndId": "GSYRFDORZRCB",
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "SB2614203525703",
                "gsPostingIds": [
                    "BP26142124973427"
                ],
                "railReferenceId": {
                    "rail": "ACH",
                    "railId": null
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": {
                "accountHolderName": "MEDIUM COMPANY 1",
                "accountNumber": "109014056",
                "iban": null,
                "bankIdentifier": {
                    "bic": null,
                    "routingInfo": {
                        "code": "USABA",
                        "value": "021000128"
                    }
                },
                "legalEntityIdentifier": ""
            },
            "debtorAccount": {
                "accountHolderName": "Continental Petro",
                "accountNumber": "107049924",
                "iban": null,
                "bankIdentifier": {
                    "bic": null,
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": "B1V7KEBTPIMZEU4LTD58"
            },
            "messagesFromOriginator": {
                "remittanceInfo": [
                    "ADDENDA FOR MEDIUM COMPANY 1"
                ],
                "paymentPurpose": null,
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": {
                "rail": "ACH",
                "ACHInfo": {
                    "secCode": "CCD",
                    "companyName": "Continental Petro",
                    "companyId": "2880566438",
                    "companyEntryDescription": "EXP",
                    "companyDescriptiveDate": null,
                    "sameOrNextDay": null
                },
                "SepaMandateInfo": null
            },
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        },
        {
            "postingDate": "2026-05-22T17:25:44Z",
            "valueDate": "2026-05-22",
            "transactionType": "Outgoing Wire",
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "DMCT"
            },
            "transactionDescription": "To: UFXQHBE RQHZK OOYV QAA, Remittance Info: \"USD Payment from QAD account\", Client Ref ID: GSU7BZOADPQ, GS ID: GI2614202810249, Clearing Ref: 20260522MMQFMCZZ000157",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 10.00,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": "GSU7BZOADPQ",
                "collectionRequestId": null,
                "paymentEndToEndId": "GSU7BZOADPQ",
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "GI2614202810249",
                "gsPostingIds": [
                    "GI2614202810249"
                ],
                "railReferenceId": {
                    "rail": "FEDWIRE",
                    "railId": "20260522MMQFMCZZ000157"
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": {
                "accountHolderName": "UFXQHBE RQHZK OOYV QAA",
                "accountNumber": "12345678",
                "iban": null,
                "bankIdentifier": {
                    "bic": "ROYCCAT2",
                    "routingInfo": null
                },
                "legalEntityIdentifier": ""
            },
            "debtorAccount": {
                "accountHolderName": "Continental Petrochemicals",
                "accountNumber": "107049924",
                "iban": null,
                "bankIdentifier": {
                    "bic": "GSCRUS30XXX",
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": "B1V7KEBTPIMZEU4LTD58"
            },
            "messagesFromOriginator": {
                "remittanceInfo": [
                    "USD Payment from QAD account"
                ],
                "paymentPurpose": "Tax Payment",
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": null,
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        },
        {
            "postingDate": "2026-05-22T17:31:46Z",
            "valueDate": "2026-05-22",
            "transactionType": "Transfer",
            "transactionTypeCode": {
                "domainCode": "PMNT",
                "familyCode": "ICDT",
                "subFamilyCode": "BOOK"
            },
            "transactionDescription": "To: GOLDMAN SACHS BANK USA, Account: XXXXX-9932, Remittance Info: \"USD Payment from USD account\", Client Ref ID: GSJ8ZWIZ7EGRND, GS ID: GI2614202810190",
            "returnReasonCode": null,
            "returnReasonDescription": null,
            "debitOrCredit": "DEBIT",
            "amount": 13.01,
            "amountCurrency": "USD",
            "fxInfo": null,
            "identifiers": {
                "paymentRequestId": "GSWQDEV4FRO",
                "collectionRequestId": null,
                "paymentEndToEndId": "GSJ8ZWIZ7EGRND",
                "collectionEndToEndId": null,
                "gsUniquePaymentId": "GI2614202810190",
                "gsPostingIds": [
                    "GI2614202810190"
                ],
                "railReferenceId": {
                    "rail": "BOOK",
                    "railId": "GI2614202810190"
                },
                "relatedPartiesTransactionId": null
            },
            "creditorAccount": {
                "accountHolderName": "GOLDMAN SACHS BANK USA",
                "accountNumber": "107049932",
                "iban": null,
                "bankIdentifier": {
                    "bic": "GSCRUS30XXX",
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": ""
            },
            "debtorAccount": {
                "accountHolderName": "Continental Petrochemicals",
                "accountNumber": "107049924",
                "iban": null,
                "bankIdentifier": {
                    "bic": "GSCRUS30",
                    "routingInfo": {
                        "code": "USABA",
                        "value": "026015079"
                    }
                },
                "legalEntityIdentifier": "B1V7KEBTPIMZEU4LTD58"
            },
            "messagesFromOriginator": {
                "remittanceInfo": [
                    "USD Payment from USD account USD Payment from USD account USD Payment from USD account USD Payment from USD account USD Payment from USD acc"
                ],
                "paymentPurpose": "Tax Payment",
                "creditorInstruction": null,
                "nextAgentInstruction": null,
                "structuredRemittance": null
            },
            "railSpecificInfo": null,
            "relatedParties": null,
            "linkedRecords": [],
            "paymentPriority": null
        }
     ],
    "hasMore": false
}

For information about account data access for UK open banking, learn more here.

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² Source: Goldman Sachs Asset Management, as of March 31, 2025.

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THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO. Prospective investors should inform themselves as to any applicable legal requirements and taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant. This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client's account should or would be handled, as appropriate investment strategies depend upon the client's investment objectives.

United Kingdom: In the United Kingdom, this material is a financial promotion and has been approved by Goldman Sachs Asset Management International, which is authorized and regulated in the United Kingdom by the Financial Conduct Authority.

European Economic Area (EEA): This marketing communication is disseminated by Goldman Sachs Asset Management B.V., including through its branches ("GSAM BV"). GSAM BV is authorised and regulated by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, Vijzelgracht 50, 1017 HS Amsterdam, The Netherlands) as an alternative investment fund manager ("AIFM") as well as a manager of undertakings for collective investment in transferable securities ("UCITS"). Under its licence as an AIFM, the Manager is authorized to provide the investment services of (i) reception and transmission of orders in financial instruments; (ii) portfolio management; and (iii) investment advice. Under its licence as a manager of UCITS, the Manager is authorized to provide the investment services of (i) portfolio management; and (ii) investment advice.

Information about investor rights and collective redress mechanisms are available on www.gsam.com/responsible-investing (section Policies & Governance). Capital is at risk. Any claims arising out of or in connection with the terms and conditions of this disclaimer are governed by Dutch law.

To the extent it relates to custody activities, this financial promotion is disseminated by Goldman Sachs Bank Europe SE ("GSBE"), including through its authorised branches. GSBE is a credit institution incorporated in Germany and, within the Single Supervisory Mechanism established between those Member States of the European Union whose official currency is the Euro, subject to direct prudential supervision by the European Central Bank (Sonnemannstrasse 20, 60314 Frankfurt am Main, Germany) and in other respects supervised by German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) (Graurheindorfer Straße 108, 53117 Bonn, Germany; website: www.bafin.de) and Deutsche Bundesbank (Hauptverwaltung Frankfurt, Taunusanlage 5, 60329 Frankfurt am Main, Germany).

Switzerland: For Qualified Investor use only - Not for distribution to general public. This is marketing material. This document is provided to you by Goldman Sachs Bank AG, Zürich. Any future contractual relationships will be entered into with affiliates of Goldman Sachs Bank AG, which are domiciled outside of Switzerland. We would like to remind you that foreign (Non-Swiss) legal and regulatory systems may not provide the same level of protection in relation to client confidentiality and data protection as offered to you by Swiss law.

Asia excluding Japan: Please note that neither Goldman Sachs Asset Management (Hong Kong) Limited ("GSAMHK") or Goldman Sachs Asset Management (Singapore) Pte. Ltd. (Company Number: 201329851H ) ("GSAMS") nor any other entities involved in the Goldman Sachs Asset Management business that provide this material and information maintain any licenses, authorizations or registrations in Asia (other than Japan), except that it conducts businesses (subject to applicable local regulations) in and from the following jurisdictions: Hong Kong, Singapore, India and China. This material has been issued for use in or from Hong Kong by Goldman Sachs Asset Management (Hong Kong) Limited and in or from Singapore by Goldman Sachs Asset Management (Singapore) Pte. Ltd. (Company Number: 201329851H).

Australia: This material is distributed by Goldman Sachs Asset Management Australia Pty Ltd ABN 41 006 099 681, AFSL 228948 (‘GSAMA’) and is intended for viewing only by wholesale clients for the purposes of section 761G of the Corporations Act 2001 (Cth). This document may not be distributed to retail clients in Australia (as that term is defined in the Corporations Act 2001 (Cth)) or to the general public. This document may not be reproduced or distributed to any person without the prior consent of GSAMA. To the extent that this document contains any statement which may be considered to be financial product advice in Australia under the Corporations Act 2001 (Cth), that advice is intended to be given to the intended recipient of this document only, being a wholesale client for the purposes of the Corporations Act 2001 (Cth). Any advice provided in this document is provided by either of the following entities. They are exempt from the requirement to hold an Australian financial services licence under the Corporations Act of Australia and therefore do not hold any Australian Financial Services Licences, and are regulated under their respective laws applicable to their jurisdictions, which differ from Australian laws. Any financial services given to any person by these entities by distributing this document in Australia are provided to such persons pursuant to the respective ASIC Class Orders and ASIC Instrument mentioned below.

  • Goldman Sachs Asset Management, LP (GSAMLP), Goldman Sachs & Co. LLC (GSCo), pursuant ASIC Class Order 03/1100; regulated by the US Securities and Exchange Commission under US laws.
  • Goldman Sachs Asset Management International (GSAMI), Goldman Sachs International (GSI), pursuant to ASIC Class Order 03/1099; regulated by the Financial Conduct Authority; GSI is also authorized by the Prudential Regulation Authority, and both entities are under UK laws.
  • Goldman Sachs Asset Management (Singapore) Pte. Ltd. (GSAMS), pursuant to ASIC Class Order 03/1102; regulated by the Monetary Authority of Singapore under Singaporean laws
  • Goldman Sachs Asset Management (Hong Kong) Limited (GSAMHK), pursuant to ASIC Class Order 03/1103 and Goldman Sachs (Asia) LLC (GSALLC), pursuant to ASIC Instrument 04/0250; regulated by the Securities and Futures Commission of Hong Kong under Hong Kong laws

No offer to acquire any interest in a fund or a financial product is being made to you in this document. If the interests or financial products do become available in the future, the offer may be arranged by GSAMA in accordance with section 911A(2)(b) of the Corporations Act. GSAMA holds Australian Financial Services Licence No. 228948. Any offer will only be made in circumstances where disclosure is not required under Part 6D.2 of the Corporations Act or a product disclosure statement is not required to be given under Part 7.9 of the Corporations Act (as relevant).

FOR DISTRIBUTION ONLY TO FINANCIAL INSTITUTIONS, FINANCIAL SERVICES LICENSEES AND THEIR ADVISERS. NOT FOR VIEWING BY RETAIL CLIENTS OR MEMBERS OF THE GENERAL PUBLIC

Canada: This presentation has been communicated in Canada by GSAM LP, which is registered as a portfolio manager under securities legislation in all provinces of Canada and as a commodity trading manager under the commodity futures legislation of Ontario and as a derivatives adviser under the derivatives legislation of Quebec. GSAM LP is not registered to provide investment advisory or portfolio management services in respect of exchange-traded futures or options contracts in Manitoba and is not offering to provide such investment advisory or portfolio management services in Manitoba by delivery of this material.

Japan: This material has been issued or approved in Japan for the use of professional investors defined in Article 2 paragraph (31) of the Financial Instruments and Exchange Law ("FIEL"). Also, any description regarding investment strategies on or funds as collective investment scheme under Article 2 paragraph (2) item 5 or item 6 of FIEL has been approved only for Qualified Institutional Investors defined in Article 10 of Cabinet Office Ordinance of Definitions under Article 2 of FIEL.

Interest Rate Benchmark Transition Risks: This transaction may require payments or calculations to be made by reference to a benchmark rate ("Benchmark"), which will likely soon stop being published and be replaced by an alternative rate, or will be subject to substantial reform. These changes could have unpredictable and material consequences to the value, price, cost and/or performance of this transaction in the future and create material economic mismatches if you are using this transaction for hedging or similar purposes. Goldman Sachs may also have rights to exercise discretion to determine a replacement rate for the Benchmark for this transaction, including any price or other adjustments to account for differences between the replacement rate and the Benchmark, and the replacement rate and any adjustments we select may be inconsistent with, or contrary to, your interests or positions. Other material risks related to Benchmark reform can be found at https://www.gs.com/interest-rate-benchmark-transition-notice. Goldman Sachs cannot provide any assurances as to the materialization, consequences, or likely costs or expenses associated with any of the changes or risks arising from Benchmark reform, though they may be material. You are encouraged to seek independent legal, financial, tax, accounting, regulatory, or other appropriate advice on how changes to the Benchmark could impact this transaction.

Confidentiality: No part of this material may, without GSAM's prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.

GSAM Services Private Limited (formerly Goldman Sachs Asset Management (India) Private Limited) acts as the Investment Advisor, providing non-binding non-discretionary investment advice to dedicated offshore mandates, involving Indian and overseas securities, managed by GSAM entities based outside India. Members of the India team do not participate in the investment decision making process.

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