Goldman Sachs Group Inc. 424B Filings

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering auto-callable, unsecured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and mature on September 3, 2031, unless automatically called starting in August 2027.

The notes are called if the index closes at or above the initial level of 533.07 on a call observation date, paying back principal plus a call premium of 24%–118% of face value depending on call date. If held to maturity and not called, investors receive up to a maximum of $2,200 per $1,000 face amount if the index is at or above its initial level; principal is protected only down to a 50% decline, with losses beyond that one-for-one down to total loss.

The index targets 40% volatility with up to 500% leverage and applies a 6% per annum decrement that drags performance. It is based on E-mini S&P 500 futures, introducing financing, leverage and roll risks. The notes’ estimated value is $914 per $1,000 at pricing, below the 100% issue price, and investors take the credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering principal-protected, auto-callable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, with an aggregate face amount of $891,000. The notes pay no periodic interest. If the index is at or above its initial level on any annual call observation date, the notes are automatically called and pay, per $1,000, $1,000 plus a call premium that steps up from 7.20% in 2027 to 43.20% in 2032.

If not called, at maturity in August 2033 investors receive, per $1,000, the greater of $1,000 or $1,000 plus 100% of any positive index return; there is no upside leverage. The index is a daily rebalanced, rules-based multi-asset benchmark subject to a 5% volatility control, a momentum risk control overlay and an annual 0.65% deduction, and often allocates heavily to cash-like positions, which can materially reduce index returns. The original issue price is 100% of face, with a 4.38% underwriting discount and 95.62% net proceeds to the issuer; GS estimates the value of each $1,000 note on the trade date at $892, below the issue price.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is issuing EURO STOXX 50® Index-linked Medium-Term Notes, Series F, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes have an aggregate face amount of $1,102,000 and are offered at 100% of face amount.

The notes pay no interest and mature on March 1, 2029. For each $1,000 note, if the index rises, investors receive 200% of the index gain, capped at a maximum settlement amount of $1,366. If the index falls up to the 15% buffer (down to 85% of the initial level), investors receive full principal. Below the buffer, principal is reduced 1% for each 1% index decline beyond the buffer, with losses potentially substantial.

The initial index level is 6,470.74. The notes reflect the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, may have limited liquidity, and involve structural, market, foreign-market and U.S. tax uncertainties as described.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp, is offering two tranches of leveraged buffered index-linked notes under its shelf registration, with an aggregate face amount of $1,547,000, linked separately to the S&P 500® Index and the Russell 2000® Index.

The S&P 500® notes have a face amount of $1,056,000, a 200% upside participation rate, a 90% buffer level (10% buffer amount) and a maximum settlement amount of $1,252.5 per $1,000, with a determination date of February 26, 2029 and maturity on March 1, 2029. The Russell 2000® notes have a face amount of $491,000, a 110% upside participation rate, the same 90% buffer and a maximum settlement amount of $1,240 per $1,000, with a February 28, 2028 determination date and March 2, 2028 maturity.

Both notes do not bear interest, repay $1,000 at maturity if the index finishes between 90% and 100% of its initial level, and expose holders to losses below the buffer on a 1:1 basis. Returns are capped by the maximum settlement amount and depend solely on index levels on the determination date. Each note is an unsecured obligation of GS Finance Corp, fully guaranteed by Goldman Sachs Group Inc, and the approximate estimated values at pricing ($969 and $977 per $1,000) are below the 100% issue price. The issuer intends to treat the notes as pre-paid derivative contracts for U.S. federal income tax purposes.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp, is offering Dual Directional Buffered Performance Leveraged Upside Securities (Buffered PLUS) linked to the S&P 500® Index, due October 4, 2028. These unsecured, principal-at-risk notes pay no interest and are not listed on any exchange.

For each $1,000 note, if the final S&P 500® level is higher than the initial level, investors receive principal plus 150% of the index gain, capped at a maximum payment of at least $1,197.50. If the index is flat or down by up to the 10.00% buffer, investors receive principal plus the absolute value of the index loss, up to a positive 10% return.

If the index declines by more than 10%, investors lose 1% of principal for each additional 1% drop, with a minimum payment of $100 per note. The estimated initial value is $910–$970 per $1,000, below the issue price of 100%, reflecting fees and hedging costs. Net proceeds are 97.50% of principal after a 2.50% underwriting discount, and returns depend on the credit of GS Finance Corp and its guarantor, The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), via issuer GS Finance Corp., is offering CHF/USD exchange rate-linked structured notes that pay no interest and are guaranteed by The Goldman Sachs Group, Inc. The notes are automatically callable starting about 12–14 months after issuance if the Swiss franc per U.S. dollar exchange rate is at or above an initial level.

If called, holders receive $1,000 plus a call premium per $1,000 face amount; the call premium percentage increases on later call dates. If not called and the final exchange rate on the determination date is at or above the initial rate, investors receive a capped maximum settlement amount of between $1,441.29333 and $1,517.64028 per $1,000; if the final rate is lower, they receive only the $1,000 face amount. The estimated value at pricing is expected to be $915–$945 per $1,000, below issue price, and payments are subject to the unsecured credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The notes are taxed as contingent payment debt instruments.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering leveraged buffered S&P 500 Futures Excess Return Index-linked notes due October 3, 2031 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

The notes pay no interest and provide leveraged upside of at least 180% of any positive performance of the S&P 500 Futures Excess Return Index from the trade date to September 30, 2031. At maturity, investors receive $1,000 per note plus or minus an amount based on index performance. A 30% buffer protects principal if the index falls by up to 30%; below a buffer level equal to 70% of the initial level, principal is reduced 1% for each 1% decline beyond the buffer, so a substantial loss of principal is possible.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any securities exchange, may have limited secondary market liquidity, and involve additional risks from linking to equity futures (including financing costs and potential negative roll yields) and from uncertain U.S. federal income tax treatment.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering index-linked notes tied to the S&P 500® Equal Weight Index that do not bear interest and are scheduled to mature on the stated maturity date, expected to be October 5, 2028. The notes provide 1.5x leveraged upside on positive index performance, but returns are capped by a maximum settlement amount of at least $1,230 per $1,000 face amount, corresponding to a cap level of at least approximately 115.333% of the initial index level.

The structure includes a 10% downside buffer: if the final index level is equal to or less than the initial level but not below 90% of it, investors receive back the $1,000 face amount. If the index falls more than 10%, losses are one‑for‑one beyond that buffer, calculated as the index return plus 10%, and investors could lose up to 90% of principal in extreme declines. The notes are unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk.

The estimated value on the trade date (expected to be September 30, 2026) is between $925 and $965 per $1,000 face amount, below the 100% issue price, reflecting underwriting discounts, hedging and structuring costs. Market value before maturity may be influenced by index levels, volatility, interest rates and Goldman Sachs’ credit spreads, and there may be limited or no secondary market liquidity. For U.S. federal income tax purposes, the issuer intends to treat the notes as a pre-paid derivative contract on the index, with tax outcomes subject to potential future IRS or legislative changes.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering index-linked Medium-Term Notes, Series F, due October 4, 2029, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the Russell 2000® Index and the S&P 500® Index.

For each $1,000 face amount, holders receive at maturity either the maximum settlement amount of at least $1,237.50 if the final level of both indices is at or above its initial level, or $1,000 if any index is below its initial level. The return is based solely on the lesser performing index and is capped; the notes pay no periodic interest and may trade below face value before maturity. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor. For U.S. tax purposes, they are treated as contingent payment debt instruments, requiring accrual of ordinary income over the term based on a comparable yield, with gain at disposition or maturity generally taxed as ordinary interest income.

Goldman Sachs Group, Inc. (GS), through its subsidiary GS Finance Corp., is offering S&P 500® Index-linked notes due 2031 under its Medium-Term Notes, Series F program. The notes are unsecured senior obligations of GS Finance Corp., fully and unconditionally guaranteed by Goldman Sachs Group, Inc.

Each note has a $1,000 face amount, pays no interest and returns a cash amount at maturity based on S&P 500® performance from the August 28, 2026 trade date to the August 28, 2031 determination date. If the index is above its initial level, investors receive $1,000 plus the index return, capped by a maximum settlement amount of $1,432 per $1,000 face amount (143.2% of face). If the index is at or below its initial level, investors receive only the $1,000 face amount.

The original issue price is 100% of face, with a 3.2% underwriting discount and 96.8% net proceeds to the issuer. The notes are subject to the credit risk of GS Finance Corp. and Goldman Sachs Group, Inc., will not be listed on any exchange, and their estimated value at pricing will be less than the issue price. For U.S. tax purposes they are treated as contingent payment debt instruments, generally requiring accrual of ordinary income over the term based on a comparable yield.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp as issuer and with a full guarantee from The Goldman Sachs Group, Inc., is offering index-linked Medium-Term Notes, Series F with an aggregate face amount of $2,498,000. The notes are automatically callable annually if the Nasdaq-100, Russell 2000 and S&P 500 indices are each at or above their initial levels on the relevant call observation date.

The notes pay no periodic interest. If called, holders receive $1,000 per note plus a fixed call premium (from 7.75% in 2027 up to 31% in 2030). If not called, at maturity in 2031 investors receive $1,000 plus 100% of the return of the lesser performing index if all three finish above their initial levels, otherwise only the $1,000 principal is repaid. The structure is principal-protected but exposes investors to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The original issue price is 100% of face amount, with a 1.125% underwriting discount and 98.875% of face amount in net proceeds to the issuer.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering leveraged notes due 2031 linked to the S&P 500® Futures Excess Return Index. The notes pay no interest and are fully and unconditionally guaranteed by Goldman Sachs.

At maturity, for each $1,000 face amount, investors receive: (i) $1,000 plus 225% or more of any positive index return; (ii) $1,000 if the index decline is within a 30% trigger buffer (final level at or above 70% of the initial level); or (iii) $1,000 plus the full index return if the final level is below 70%, leading to one-for-one losses and potential total loss of principal. The product is subject to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed, and secondary market liquidity and pricing are uncertain. The estimated value at pricing is lower than the issue price, and tax treatment is uncertain, with the notes intended to be treated as pre-paid derivative contracts.

GOLDMAN SACHS GROUP INC (GS), as guarantor of GS Finance Corp., is offering index-linked Medium-Term Notes, Series F, with an aggregate face amount of $2,883,000, tied to the Goldman Sachs Momentum Builder® Focus ER Index. The notes may be automatically called annually if the index closes at or above 100.5% of the initial index level, paying $1,000 plus a scheduled call premium (starting at 8.80% of face in 2027 and rising to 52.80% by 2032) per $1,000.

If not called, at maturity in August 2033 investors receive for each $1,000 (i) $1,000 plus 100% of any positive index return, or (ii) $1,000 if the index is flat or down, providing principal repayment at maturity subject to issuer and guarantor credit risk. The initial index level is 114.10. The original issue price is 100% of face, with a 4% underwriting discount and 96% net proceeds to GS Finance Corp. The issuer’s estimated value is $897 per $1,000 at trade date, below issue price, reflecting structuring and distribution costs. The underlying index is a rules-based, volatility- and momentum-controlled multi-asset index calculated on an excess return basis with a 0.65% per annum deduction and frequent allocations to cash-like positions. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, requiring accrual of ordinary income based on a comparable yield of 5.36% per annum.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering auto-callable, index-linked Medium-Term Notes, Series F, with an aggregate face amount of $997,000, fully and unconditionally guaranteed by Goldman Sachs Group Inc. The notes reference the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index.

The notes pay no interest. Each quarter, they are automatically called if each underlier is at or above its initial level, paying $1,000 plus a call premium per $1,000, with scheduled premiums starting at 13.25% and rising to 36.4375%. If not called, at maturity investors receive: (i) $1,000 plus a 39.75% maturity premium if all underliers finish at or above initial levels; (ii) $1,000 if the worst underlier stays at or above 70% of its initial level; or (iii) $1,000 times the lesser performing underlier return if any underlier finishes below its 70% trigger buffer, which can result in a total loss of principal.

Upside is capped by the call and maturity premiums and depends solely on the worst underlier. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and Goldman Sachs Group Inc., are not listed on any exchange, and their estimated value at pricing is less than the 100% issue price. Tax treatment is uncertain and expected to follow a pre-paid derivative contract characterization.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp, is offering S&P 500 Index-linked medium-term notes due August 31, 2029, fully and unconditionally guaranteed by Goldman Sachs. The notes return principal at maturity and provide equity-linked upside subject to a cap.

For each $1,000 note, if the S&P 500 final level on August 28, 2029 is above the initial level, the payoff equals $1,000 plus the index return, capped at a maximum settlement amount of $1,230 (123% of face). If the index is flat or down, investors receive only the $1,000 face amount. The notes pay no periodic interest, are unsecured obligations subject to the credit risk of GS Finance Corp and The Goldman Sachs Group, Inc., and will not be listed on an exchange.

The original issue price is 100% of face; underwriters receive a 1.6% discount, so net proceeds to the issuer are 98.4% of face. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, requiring holders generally to accrue taxable ordinary income over the term based on a “comparable yield,” even though cash is only received at maturity.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering basket-linked notes due August 30, 2028 with a total face amount of $275,000, linked equally to the EURO STOXX 50® Index, Nikkei 225 and S&P 500® Index. The notes pay no interest and are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

At maturity, for each $1,000 face amount, investors receive: (i) if the final basket level is greater than or equal to 113.3% of the initial basket level, a capped payment of $1,133; (ii) if the final basket level is between 105% and 113.3%, $1,000 plus 100% of the basket’s positive return; or (iii) if the final basket level is at or below 105%, a minimum of $1,050. Performance is measured from the trade date (August 25, 2026) to the determination date (August 25, 2028).

The original issue price is 100% of face amount, with an underwriting discount of 0.55% and net proceeds to the issuer of 99.45%. The estimated value at pricing is approximately $987 per $1,000, reflecting structuring costs and dealer margin. The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., may have limited secondary liquidity, and are treated as contingent payment debt instruments for U.S. federal income tax purposes, requiring accrual of ordinary income based on a 4.70% comparable yield.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp as issuer and with a guarantee from The Goldman Sachs Group, Inc., is offering index-linked notes due around September 28, 2029, linked to the lesser performance of the Russell 2000® Index and the S&P 500® Index. The notes pay no interest and return at maturity depends solely on index levels on the determination date around September 25, 2029, not on any earlier levels.

If both index returns are zero or positive, investors receive the lesser index return multiplied by an upside participation rate of at least 100%. If any index has a negative return but both remain at or above 85% of their initial levels, the payoff uses the absolute value of the lesser loss ("buffered" symmetric return). If any index finishes below 85% of its initial level, principal is reduced one‑for‑one with the lesser-performing index beyond a 15% buffer, and a substantial loss of the $1,000 face amount per note is possible. The estimated value at pricing is expected to be $925–$965 per $1,000, reflecting fees, hedging and model-based discounts, and the notes are unsecured obligations subject to the credit risk of both GS Finance Corp and the guarantor.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering auto-callable, no-coupon notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes mature on August 30, 2032, unless automatically called starting in August 2027 when the index closes at or above the initial level of 533.57, triggering repayment of principal plus a call premium.

If never called and the final index level on August 25, 2032 is at or above the initial level, holders receive the maximum settlement amount of $2,740.024 per $1,000. Principal is protected only down to a 40% index decline; below 60% of the initial level, losses are 1:1 and investors can lose their entire investment. The underlying index targets 40% volatility with up to 500% leverage and a 6% per annum daily decrement, which drags performance and can magnify losses. The aggregate face amount is $669,000, issued at 100% with 0.8% underwriting discount and 99.2% net proceeds. The estimated value at pricing is about $949 per $1,000, and payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured index-linked notes maturing on August 30, 2032, tied to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and are subject to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc.

The notes may be automatically called quarterly starting February 25, 2027 if the index closing level is at or above the initial level of 533.57, paying per $1,000 face amount: $1,000 plus $1,000 times the applicable call premium (rising from 14.5002% to 171.5857%). If never called and the final index level on August 25, 2032 is at or above the initial level, holders receive the maximum settlement amount of $2,740.024 per $1,000, reflecting a maturity date premium of 174.0024%. If the final level is between 60% and 100% of the initial level, principal is returned; below 60%, repayment is fully exposed to index loss, up to a total loss of principal.

The index employs up to 500% leverage, a 40% volatility target, and a 6.0% per annum daily decrement, which drags on performance and ensures the index underperforms an otherwise identical index without a decrement. The estimated value of the notes on the trade date is approximately $951 per $1,000 face amount, versus a 100% issue price; gross underwriting discount is 0.8% and net proceeds are 99.2% of face amount on the original $1,061,000 aggregate offering.

Goldman Sachs Group Inc. (GS), through issuer GS Finance Corp., is offering $5,765,000 of Buffer Autocallable GEARS, unsecured notes linked to the S&P 500® Index and due in 2029, fully guaranteed by Goldman Sachs Group Inc.

The notes have a $10 denomination and an initial S&P 500 level of 7,677.28. They may be automatically called on September 1, 2027 if the index is at or above 100% of the initial level, paying $10 plus an 8.00% call return. If not called, at maturity investors get leveraged upside with 1.50x exposure to positive index returns. Principal is protected only down to a 90.00% downside threshold (a 10.00% buffer); below that, losses are 1% for every 1% further index decline, up to a 90% loss if the index goes to zero.

The notes pay no coupons, do not provide dividends, and all payments depend on the credit of GS Finance Corp. and Goldman Sachs Group Inc. The original issue price is 100% of face amount, including a 2.50% underwriting discount, while the estimated value is about $9.69 per $10, reflecting structuring and distribution costs and model-based pricing. Liquidity may be limited, and the tax treatment is complex and potentially subject to future IRS guidance.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering auto-callable, unsecured structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and mature on August 30, 2032, unless automatically called starting February 2027.

The index uses up to 500% leverage, targets 40% volatility and applies a 6.0% per annum decrement, which is deducted daily and drags performance. The notes are automatically called if, on a call observation date, the index closes at least 95% of the initial level of 533.57, paying $1,000 plus a fixed call premium (rising from 12.1254% to 143.4839% over time) per $1,000 face amount.

If not called, at maturity investors receive: (i) the maximum settlement amount of $2,455.048 per $1,000 if the final index level is at least 95% of initial; (ii) full principal back if the index is down up to 40%; or (iii) a proportional loss if the index is down more than 40%, with the possibility of losing the entire investment. The initial issue price is 100% of face, but Goldman estimates the value at $951 per $1,000, reflecting fees and model assumptions. Payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering leveraged S&P 500 Futures Excess Return Index-Linked Notes due September 16, 2032 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

The notes pay no interest and the maturity payment depends on the S&P 500 Futures Excess Return Index. For each $1,000 face amount, if the final index level is above the initial level, investors receive $1,000 plus 215% (or more) of the index gain. If the final level is between 60% and 100% of the initial level, investors receive only the $1,000 face amount. If the final level is below 60%, principal is exposed 1-for-1 to the full index loss, so investors can lose their entire investment.

The product tracks E-mini S&P 500 futures, not the S&P 500 Index itself, and is affected by futures-specific factors such as financing costs, contango and negative roll yield, which can depress returns even if the equity index is stable or rising. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any exchange, may have limited or no secondary market, and carry uncertain and complex U.S. tax treatment, characterized as a pre-paid derivative contract in the issuer’s view.

GOLDMAN SACHS GROUP INC (GS), as guarantor for GS Finance Corp., is offering unsecured, unsubordinated Medium-Term Notes, Series F, linked to the S&P 500® Index. The notes are scheduled to trade from a August 31, 2026 trade date to a September 6, 2028 stated maturity date and pay no periodic interest.

At maturity, each $1,000 note pays cash based on index performance: full participation in index gains up to a maximum upside settlement amount of $1,227.50, and a 15% “buffer” on losses. If the index is down up to 15%, the payoff increases by the same percentage; if it is down more than 15%, investors lose 1% of face for each 1% decline beyond the 15% buffer, potentially receiving as little as 15% of face.

The notes are subject to the credit risk of GS Finance Corp. and Goldman Sachs, will not be listed on an exchange, and may have limited or no secondary market. The estimated value on the trade date is lower than the original issue price, and the U.S. federal income tax treatment is uncertain, with the notes intended to be treated as a pre-paid derivative contract for tax purposes.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering Nasdaq-100 Index®-linked buffered notes due September 6, 2028 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note pays no interest and provides equity-linked exposure to the Nasdaq-100 Index® from the August 31, 2026 trade date to the August 31, 2028 determination date.

At maturity, if the index is at or above its initial level, holders receive $1,000 plus the index return, capped at a maximum upside settlement amount of $1,297.50 per note. If the index is below the initial level but at or above 85% of it, holders receive $1,000 plus the absolute index return, up to the same cap. If the index closes below 85% of its initial level, principal is exposed 1-for-1 below that buffer and investors can lose a substantial portion of principal, down to as little as 15% of face value in extreme declines. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, are not listed, do not provide any rights in the underlying stocks, and their estimated value at pricing will be less than the issue price.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering S&P 500®-linked Medium-Term Notes, Series F, with an aggregate face amount of $1,575,000, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are issued at 100% of face amount, do not bear interest, and are not bank deposits or FDIC-insured.

At maturity on September 30, 2027, for each $1,000 face amount you receive: the maximum upside settlement amount of $1,062.50 if the S&P 500® final level is at or above the initial level of 7,677.28; if the index has fallen but remains at or above the 80% buffer level, you receive $1,000 plus the absolute underlier return; if it falls below the buffer, you lose 1% of face for every 1% decline below the buffer and could lose a substantial portion of principal. The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any exchange, may have limited or no secondary market, and are intended to be treated as contingent payment debt instruments for U.S. federal income tax purposes, with a comparable yield of 4.5442% and a projected payment at maturity of $1,050.97 per $1,000.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering S&P 500® Index-linked notes due 2030 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no periodic interest and are unsecured senior obligations.

At maturity, for each $1,000 face amount, holders receive either: (i) if the S&P 500® final level is above its initial level, $1,000 × (1 + underlier return) capped by a maximum settlement amount of at least $1,300, or (ii) if the final level is at or below the initial level, exactly $1,000. Thus downside to maturity is principal-protected, but upside is limited.

The notes are expected to price on September 25, 2026, with an original issue date of September 30, 2026, a determination date of June 25, 2030 and a stated maturity of June 28, 2030, each subject to adjustment. Investors face the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc. and must also consider complex U.S. tax treatment as contingent payment debt instruments, potentially requiring recognition of ordinary income over the term without interim cash payments.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering auto-callable contingent coupon notes linked to the S&P 500® Index, VanEck Gold Miners ETF and iShares® Silver Trust, maturing in August 2028 and guaranteed by Goldman Sachs Group, Inc. The notes pay a conditional quarterly coupon of $32.75 per $1,000 (3.275% quarterly, up to 13.1% per year) only if on an observation date each underlier is at least 50% of its initial level; otherwise the coupon for that period is zero. The notes may be automatically called from February 2027 through May 2028 if on a call observation date each underlier is at or above its initial level, in which case investors receive par plus the applicable coupon. At maturity, if never called, principal repayment depends on the worst-performing underlier: if each is at or above 50% of its initial level, investors receive $1,000 plus final coupon; if any finishes below 50%, repayment is reduced one-for-one with the worst underlier’s loss, with potential loss of most or all principal and no final coupon. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantee of The Goldman Sachs Group, Inc. The estimated value at pricing is expected to be $925–$955 per $1,000, below the 100% issue price, reflecting fees, hedging and structuring costs.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering leveraged buffered notes due October 3, 2031 linked to the EURO STOXX 50® Index under its Medium-Term Notes, Series F program. The notes pay no interest and all return comes from the index performance between the trade date and the determination date.

If the final index level is above the initial level, holders receive $1,000 plus at least 164% of the index gain per $1,000 note. If the index falls but stays at or above 75% of the initial level (a 25% buffer), investors receive the $1,000 face amount. Below the 75% buffer level, principal is reduced 1-for-1 with index losses beyond the buffer, so investors can lose a substantial portion of principal, down to 25% of face if the index goes to zero.

The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk. They will not be listed on any exchange, and GS&Co. may but is not obligated to make a market. The estimated value at pricing is less than the original issue price, and early secondary market values may be materially lower. The notes are treated as a pre-paid derivative contract for U.S. federal income tax purposes, but the tax consequences remain uncertain and the notes are subject to FATCA rules.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured, non-interest-bearing structured notes linked to the worst performer of three stocks: IBM, Salesforce and Apple. The notes are expected to be issued on September 15, 2026, may be automatically called on September 17, 2027, and otherwise mature on September 13, 2029.

Each $1,000 note pays a fixed $1,652.5 if all three stocks are at or above their initial prices on the call observation date. If not called, the maturity payoff depends on the lesser-performing stock: if it finishes above its initial price, investors get 3× that stock’s gain; if it finishes between 80% and 100% of its initial price, investors receive the absolute value of its loss as a positive return. If the lesser-performing stock finishes below 80% of its initial level, investors lose principal on a 1:1 basis beyond the 20% buffer and could lose a substantial portion of their investment.

The estimated initial value is $925–$955 per $1,000 note, below issue price, reflecting fees and dealer economics. Payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes will not be listed; secondary market liquidity may be limited.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering callable, index-linked notes maturing on August 30, 2032, tied to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and are unsecured obligations guaranteed by Goldman Sachs Group Inc.

The notes can be automatically called quarterly from August 2027 if the index is at least 85% of the initial level of 533.57, paying the $1,000 face amount plus a call premium (starting at 18.8004% and rising over time). If not called and the final index level is at least 85% of the initial level, investors receive a capped maximum of $2,128.024 per $1,000.

If the final index level is between 60% and 85% of the initial level, principal is returned; below 60%, repayment is fully exposed to index losses and investors can lose their entire investment. The index uses up to 500% leverage and a fixed 6.0% per annum decrement, and the initial estimated value is about $947 per $1,000, below the issue price.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering leveraged buffered notes due March 29, 2029, linked to the S&P 500 Futures Excess Return Index and fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and are unsecured senior obligations.

At maturity, for each $1,000 note, if the index level is unchanged or higher, investors receive $1,000 plus the underlier return multiplied by an upside participation rate of at least 112.5%. If the index is down but by no more than the 15% buffer (final level at or above 85% of initial), investors receive the absolute value of the index decline as a positive return. If the index falls more than 15%, principal is reduced 1-for-1 beyond the buffer, so losses can be substantial; a 0% final level yields 15% of face value.

The index tracks E-mini S&P 500 futures rather than the S&P 500 itself, so returns are affected by futures pricing, financing costs and potential negative roll yield, which can erode value even if the equity index is flat or rising. The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and their estimated value at pricing will be less than the original issue price due to fees, hedging and structuring costs. Secondary market liquidity is not assured and market value may be volatile.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering buffered S&P 500® Index‑linked notes due 2031, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes provide exposure to the S&P 500® Index with a 15% buffer against moderate losses and a cap on upside.

At maturity, for each $1,000 note, holders receive: (i) $1,000 plus the index return if the index is above its initial level, capped at a maximum settlement amount of $2,050; (ii) $1,000 if the index decline is within the 15% buffer; or (iii) reduced principal if the index falls more than 15%, losing 1% of principal for each 1% decline beyond the 85% buffer level. The notes pay no interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, and will not be listed. Estimated value at pricing will be lower than the issue price, secondary market liquidity is uncertain, and the U.S. tax treatment is described as a pre‑paid derivative contract but remains uncertain.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering medium-term, principal-protected notes linked to the S&P 500 Futures Excess Return Index, maturing in 2031 and fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no periodic interest.

At maturity, holders receive cash equal to $1,000 plus leveraged upside if the index has risen, calculated as $1,000 × 128% × underlier return, while never receiving less than the $1,000 face amount if the index is flat or down. The notes are based on E-mini S&P 500 futures rather than the S&P 500 Index itself, so performance reflects futures pricing, financing costs and potential negative roll yields, which can reduce index levels even if the equity index is stable or rising.

The notes are subject to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc., may trade below face value before maturity, and are expected to have an initial estimated value below the original issue price due to underwriting discounts, hedging costs and issuer pricing assumptions. They are treated as contingent payment debt instruments for U.S. tax purposes, requiring investors to accrue taxable ordinary income over the term despite receiving all cash only at maturity.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering Medium-Term Notes, Series F linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, with an aggregate face amount of $3,667,000. The notes pay a contingent monthly coupon of $7.50 per $1,000 (0.75% monthly, up to 9.00% per annum) only if on each observation date every underlier is at or above 70% of its initial level.

The notes are subject to an automatic call from August 25, 2027 onward if all underliers are at or above their initial levels on a call observation date, in which case investors receive $1,000 per note plus the coupon then due. If not called, payment at maturity in 2030 depends solely on the lesser performing underlier. Principal is fully repaid only if each final underlier level is at or above 50% of its initial level; otherwise, repayment is reduced one-for-one with the decline in the worst index, and investors can lose their entire investment. The notes are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and will not be listed on any exchange.

Goldman Sachs Group, Inc. (GS), via GS Finance Corp., is offering leveraged buffered notes linked to the Russell 2000® Index, maturing October 5, 2028 and issued under its Medium-Term Notes, Series F program. The $1,000-denomination notes pay no interest and are fully and unconditionally guaranteed by Goldman Sachs Group, Inc.

At maturity, if the index is above its initial level, investors receive $1,000 plus 200% of the index gain, capped at a maximum settlement amount of at least $1,280 per $1,000 note. If the index is flat or down by up to the 10% buffer, investors receive back the $1,000 face amount. If the index falls more than 10%, principal is exposed 1-for-1 below the 90% buffer level, and investors can lose a substantial portion of their investment.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, and may have limited or no secondary market. The issuer discloses that the estimated value on the trade date will be lower than the original issue price due to fees and structuring costs, and that U.S. tax treatment is uncertain; the notes are intended to be treated as prepaid derivative contracts and are generally subject to FATCA rules.

GOLDMAN SACHS GROUP INC (GS), through subsidiary GS Finance Corp., is offering S&P 500® Index-Linked Notes due 2029 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

Each $1,000 note pays at maturity: if the S&P 500 final level exceeds the initial level, the cash settlement equals $1,000 plus $1,000 × the underlier return, capped by a maximum settlement amount of $1,220. If the final level is equal to or below the initial level, investors receive only the $1,000 face amount. The notes pay no periodic interest and provide no dividends or shareholder rights in the index constituents.

Key dates include a trade date of September 30, 2026, original issue date of October 5, 2026, a determination date of July 2, 2029 and stated maturity on July 6, 2029, each subject to adjustment. The issuer discloses that the estimated value at pricing (from GS&Co. models) will be less than the original issue price, that secondary market prices may be lower than face amount, and that investors are exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. For U.S. tax purposes, the notes are expected to be treated as contingent payment debt instruments, requiring accrual of ordinary income over the term based on a “comparable yield,” with gain at disposition generally taxed as ordinary interest income.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering leveraged EURO STOXX 50 Index-linked medium-term notes due October 3, 2031, fully and unconditionally guaranteed by Goldman Sachs. Each $1,000 note pays no interest and returns at least the $1,000 face amount at maturity.

The maturity payment depends on the EURO STOXX 50 Index performance from the September 30, 2026 trade date to the September 30, 2031 determination date. If the final index level is above the initial level, the payoff equals $1,000 plus $1,000 multiplied by the upside participation rate (at least 137%) times the index return. If the final level is at or below the initial level, investors receive only the $1,000 face amount.

The notes are subject to the credit risk of GS Finance Corp. and Goldman Sachs, have no listing and may have limited or no secondary market. The original issue price exceeds the model-based estimated value, and early secondary sales may occur at prices below face. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, requiring accrual of ordinary income over the term based on a comparable yield, with any gain at sale or maturity taxed as ordinary interest income.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering S&P 500® Index-linked notes due 2029 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by Goldman Sachs. The notes pay no interest and return at least the $1,000 face amount at maturity, subject to issuer and guarantor credit risk.

At maturity, investors receive for each $1,000 the greater of $1,000 or $1,000 plus the S&P 500® Index return, capped by a maximum settlement amount of at least $1,200. Upside is therefore limited to about 20% while downside to index declines is not passed through if held to maturity. The notes are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of ordinary income over the term, and any gain on sale or maturity is taxed as ordinary interest income. The notes are unlisted, may have limited liquidity, and secondary prices can be below face value due to market factors and the creditworthiness of GS Finance Corp. and Goldman Sachs.

Goldman Sachs Group Inc. (GS), through issuer GS Finance Corp., is offering callable S&P 500® Index-linked notes due in 2031, fully guaranteed by Goldman Sachs Group Inc. The notes pay no interest and are expected to be issued on September 3, 2026, maturing on September 5, 2031, unless redeemed early.

The notes provide 196% upside participation in the S&P 500® Index from the trade date to a determination date expected on September 2, 2031. Principal is buffered only down to 85% of the initial index level; below this buffer, losses are 1:1 beyond a 15% decline, so investors can lose a substantial portion of principal. The issuer may call the notes quarterly from September 10, 2027 through September 6, 2029 at 100% of face value plus a call premium that steps from 11% up to 33%, capping investor return if called.

The estimated value on the trade date is expected to be $885–$925 per $1,000 face amount, below the issue price, reflecting fees and issuer economics. Payments depend on the credit of GS Finance Corp. and the Goldman Sachs guarantee, the S&P 500® level on a single determination date, and the issuer’s redemption decisions. The notes will not be listed, and Goldman Sachs & Co. LLC may, but is not obligated to, make a market.

GOLDMAN SACHS GROUP INC (GS), through its subsidiary GS Finance Corp, is offering leveraged S&P 500 Futures Excess Return Index-linked notes due 2031 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by Goldman Sachs.

The notes provide a cash payment at maturity per $1,000 face amount based on the S&P 500 Futures Excess Return Index. If the final index level exceeds the initial level, investors receive $1,000 plus at least 216% of the index gain. If the final level is between 60% and 100% of the initial level, investors receive only the $1,000 principal. If the final level falls below 60% of the initial level, repayment is fully exposed to downside and investors can lose their entire investment. The notes pay no interest and are not principal protected.

The index tracks E-mini S&P 500 futures rather than the S&P 500 itself, and is affected by financing costs and potential negative roll yield, which can erode returns even if the equity index is flat or rising. The estimated value on the trade date is less than the issue price due to underwriting discounts, structuring fees and other costs, and any secondary market price may be lower. Investors bear the credit risk of both GS Finance Corp and The Goldman Sachs Group, Inc. The notes will not be listed, may have limited liquidity, and carry uncertain U.S. tax treatment, with counsel viewing them as pre-paid derivative contracts.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering Trigger Autocallable Contingent Yield Notes due 2031, linked to the lesser performance of the Nasdaq‑100 Index® and the Invesco S&P 500® Equal Weight ETF. Each note has a $10 face amount and pays a contingent coupon of $0.2575 per quarter (up to 10.30% per annum) only if on each quarterly observation date both underliers are at or above 70% of their initial levels; otherwise no coupon is paid.

The notes can be automatically called starting in February 2027 if, on any call observation date, both underliers are at or above their initial levels (29,224.52 for the Nasdaq‑100 and $222.11 for the ETF). If called, investors receive $10 per note plus the due coupon, and the product terminates. If not called, and on the August 26, 2031 determination date both underliers are at or above 60% downside thresholds of their initial levels, investors receive $10 plus any final coupon. If any underlier finishes below its downside threshold, repayment is reduced one‑for‑one with the negative return of the lesser performing underlier and investors can lose all principal.

The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The estimated value on the trade date is expected to be between $9.75 and $9.99 per $10 face amount, below the 100% issue price, and secondary market prices are expected to reflect this lower model value plus a declining built‑in premium. The offering carries extensive risk disclosures, including potential loss of all invested principal, possible non‑payment of any coupons, market risk of each underlier, limited or no secondary market, and tax uncertainty.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering autocallable notes due September 12, 2031 linked to the Goldman Sachs Momentum Builder® Focus ER Index (GSMBFC5), under its Medium-Term Notes, Series F program and fully and unconditionally guaranteed by Goldman Sachs.

The notes pay no interest. If on any annual call observation date the index closes at or above 102% of its initial level, the notes are automatically called and pay $1,000 plus a call premium (from 15% to 60% of face) on the related call payment date. If never called, at maturity holders receive $1,000 plus 100% of any positive index return; if the index is flat or down, repayment is limited to the $1,000 face amount, subject to issuer and guarantor credit risk.

The underlying index is a rules-based, daily rebalanced strategy with a 5% volatility control, momentum risk control, significant potential allocation to hypothetical cash, and an annual deduction of 0.65% on an excess-return basis over the federal funds rate. Goldman estimates the notes’ value on the trade date at $885–$925 per $1,000 issue price. The notes are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of ordinary income over their term.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp as issuer and Goldman Sachs as guarantor, is offering index-linked Medium-Term Notes, Series F due October 5, 2028. The notes are linked to the Russell 2000 Index and the S&P 500 Index and are fully and unconditionally guaranteed by Goldman Sachs.

For each $1,000 face amount, investors receive at maturity the maximum settlement amount (at least $1,140) if on the determination date the final level of each index is greater than or equal to its initial level. If the final level of any index is below its initial level, the payment is limited to $1,000. The payoff is based solely on the “lesser performing underlier.”

The notes do not bear interest and are senior unsecured obligations subject to the credit risk of GS Finance Corp and Goldman Sachs. They are expected to be treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of ordinary income over the term. The notes will not be listed, and GS&Co. may, but is not obligated to, make a secondary market.

Goldman Sachs Group Inc. (GS), through subsidiary GS Finance Corp., is offering S&P 500® Daily Risk Control 5% USD Excess Return Index-linked notes due on the expected stated maturity date of October 4, 2029. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by Goldman Sachs Group Inc.

The notes pay no interest. At maturity, for each $1,000 face amount you receive: (i) if the S&P 500® Daily Risk Control 5% USD Excess Return Index (the underlier) is at or above its initial level, $1,000 plus $1,000 × underlier return × an upside participation rate of at least 188%; or (ii) if the underlier return is negative, $1,000 plus $1,000 × the absolute underlier return, subject to a maximum downside settlement amount of $2,000 per $1,000 face amount.

The underlier is an excess return index: it reflects the S&P 500® Daily Risk Control 5% USD Total Return Index minus hypothetical borrowing costs at SOFR + 0.02963%. This structure can cause the underlier to underperform the S&P 500® Total Return Index and may reduce or increase losses versus the underlying equity market. Historical data after the December 20, 2021 switch from overnight U.S. dollar LIBOR to SOFR is very limited. The estimated value at pricing is expected to be $925–$965 per $1,000, below the 100% issue price, and the notes are subject to the credit risk of both GS Finance Corp. and Goldman Sachs Group Inc. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, generally requiring accrual of ordinary income over their term.