Goldman Sachs Group Inc. 424B Filings

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering S&P 500® Index-linked Medium-Term Notes, Series F, with contingent monthly coupons and an automatic call feature. Each note has a $1,000 face amount and matures on the expected stated maturity date of September 6, 2030, unless called in August 2027.

From September 2026 through August 2027, investors receive a monthly coupon of at least $5.584 per $1,000 only if on every trading day in the relevant measurement period the S&P 500® stays at or above 90% of its initial level; a single breach stops all current and future coupons. If that 90% condition holds through the final coupon determination date in August 2027, the notes are automatically called, returning $1,000 plus the final coupon.

If not called, the maturity payment is based on a multiplier of about 111.11% applied to the index return plus 10%. If the final index level is below 90% of the initial level, principal is reduced proportionally and investors can lose their entire investment. The estimated initial value is $900–$930 per $1,000, below issue price, reflecting structuring and distribution costs. Payments are subject to 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 autocallable index-linked notes due August 15, 2036, linked to three equity futures excess return indices on the S&P 500, Russell 2000 and Dow Jones Industrial Average. The notes pay no interest and are unsecured obligations guaranteed by Goldman Sachs Group.

The notes may be automatically called in August 2027 if each index closes at least 105% of its initial level, in which case investors receive $1,220 per $1,000 face amount. Otherwise, at maturity investors receive cash based on 565% of the gain of the lesser-performing index, full principal back if all indices stay at or above 70% of initial, or a proportional loss of principal if any index finishes below 70%, with potential loss of the entire investment. The estimated initial value is $850–$890 per $1,000 face amount, reflecting fees and hedging costs, 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 equity-linked notes under its Series F medium-term note program. The notes pay no interest and are linked to an equally weighted basket of 9 large-cap tech and related stocks, with an initial basket level of 100 and a trade date expected August 31, 2026.

The notes may be automatically called on a call observation date expected September 13, 2027 if the basket level is at or above 100, paying at least $1,190.8 per $1,000 face amount on the call payment date. If not called, at maturity on a stated maturity date expected September 6, 2028, investors participate 125% in any positive basket return, receive principal back if the basket decline is within a 20% buffer, and incur leveraged losses (buffer rate 125%) if the basket falls more than 20%, potentially losing their entire investment.

The basket comprises 9 equally weighted stocks (including Alphabet, Amazon, Broadcom, Meta, Microsoft and NVIDIA), each at approximately 11.111% weight. The notes are unsecured obligations of GS Finance Corp., fully guaranteed by Goldman Sachs Group, Inc. Estimated initial value is $900–$930 per $1,000, below the 100% issue price, and investors do not receive dividends on the basket stocks.

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 linked to the S&P 500 Futures Excess Return Index, due August 19, 2031 and fully and unconditionally guaranteed by Goldman Sachs. The notes pay no interest and may be automatically called on August 19, 2027 if the underlier is at or above its initial level, paying $1,155 per $1,000 face amount.

If not called, maturity payoff depends on index performance with a 200% upside participation rate, full principal return between an 80% buffer level and the initial level, and 1:1 downside loss beyond a 20% buffer, so investors can lose a substantial portion of principal. The product is subject to the credit risk of GS Finance Corp and Goldman Sachs, will not be listed, and its estimated value on the trade date is lower than the issue price. Tax treatment is uncertain and expected to follow a pre-paid derivative contract characterization.

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

GOLDMAN SACHS GROUP INC (through issuer GS Finance Corp.) is offering index-linked notes due 2031 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are linked to three equity indices: the MSCI EAFE Index, the MSCI Emerging Markets Index and the EURO STOXX 50^® Index.

Each $1,000 note pays at maturity a cash amount based solely on the lesser performing underlier. If the final level of every index is above its initial level, the payoff equals $1,000 plus 265.9% of the lesser performing index’s gain. If any index finishes at or below its initial level but all remain at or above 70% of their initial levels (the trigger buffer level), investors receive only the $1,000 face amount. If any index ends below 70% of its initial level, repayment is $1,000 times the lesser performing index return, creating 1:1 downside exposure and the possibility of a complete loss of principal. The notes pay no interest, are unsecured senior obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc., and their market value and repayment are subject to the credit risk of both entities, equity market volatility, foreign market and currency risks, interest rates and complex U.S. tax treatment.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering no-coupon structured notes linked to an equally weighted basket of 7 large-cap stocks. Each note has a $1,000 face amount and an initial basket level of 100.

The notes may be automatically called on the call observation date in September 2027 if the basket level is at or above 100, paying at least $1,222.6 per $1,000. If not called, maturity in September 2028 pays: $1,000 plus 1.25x basket gain if the basket is above 100; $1,000 if the basket is between 85 and 100; or a buffered loss if the basket is below 85, with a 15% buffer and a downside participation factor of about 117.65%. Estimated initial fair value is $900–$930 per $1,000, and investors bear the unsecured credit risk of GS Finance Corp and its guarantor, The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), through issuer GS Finance Corp, is offering callable index-linked notes due on the expected stated maturity date of August 19, 2031, linked to the lesser performance of the Russell 2000® Index and the S&P 500® Index, and fully guaranteed by The Goldman Sachs Group, Inc.

The notes pay no interest. At maturity, if held and not called, investors receive: (i) $1,000 plus 1.1495 times the lesser-performing index return if the final level of each index exceeds its initial level; or (ii) only the $1,000 face amount if either index is flat or down, so downside is principal-return-only rather than loss of principal. GS Finance Corp may redeem the notes in whole on monthly call payment dates from August 19, 2027 through July 17, 2031 at $1,000 plus a scheduled call premium (starting at 10.0008% and rising to 49.1706%).

The upside participation rate is 114.95%, but investors face issuer and guarantor credit risk and no participation in index dividends. 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 model assumptions. 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.

Goldman Sachs Group, Inc. (GS), via GS Finance Corp., is offering leveraged, callable notes linked to the S&P 500 Futures Excess Return Index, maturing in August 2033 and fully guaranteed by Goldman Sachs Group. The notes pay no interest and are unsecured obligations subject to the credit risk of both the issuer and guarantor.

At maturity, if not previously called, investors receive at least the $1,000 face amount per note, plus leveraged upside of 5.55× any positive index return; if the index return is zero or negative, only face amount is paid. GS Finance Corp. may redeem the notes monthly from 2027 to 2033 at face amount plus a fixed call premium that steps up over time, capping potential return if called. The structure is based on E‑mini S&P 500 futures, not the cash S&P 500 Index, and is exposed to futures-specific effects such as financing costs and potential negative roll yield. The estimated economic value on the trade date is disclosed as $885–$925 per $1,000, below issue price, and the notes are expected to be treated as contingent payment debt instruments for U.S. tax purposes, causing taxable income accruals before any cash is received.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing Buffered S&P 500 Index-Linked Notes due 2028 under its Medium-Term Notes, Series F program. Payments at maturity depend on the S&P 500 Index level on the determination date versus the initial level.

Each note has a $1,000 face amount. If the index finish level is at or above the initial level, investors receive $1,000 plus the index return, capped at a maximum upside settlement amount of $1,202.50 per note. If the index declines but remains at or above 80% of the initial level, investors gain the absolute value of the index return. If the index closes below the 80% buffer level, investors lose 1% of principal for each 1% drop below that level and may lose a substantial portion of principal.

The notes pay no interest, have a trade date of August 13, 2026 and a stated maturity date of August 16, 2028, and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. They will not be listed on any exchange, and secondary market values may be lower than the original issue price. The issuer discloses that the initial estimated value will be less than the issue price, and highlights structural, market, liquidity and tax risks, including uncertain U.S. federal income tax treatment.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon equity-linked notes due September 24, 2027 linked to the common stock of NVIDIA Corporation. Each note has a $1,000 face amount and pays a contingent monthly coupon of $9.042 (0.9042% monthly, up to approximately 10.85% per annum) when the underlier’s closing level on the relevant observation date is at or above the coupon trigger level.

The notes are automatically called, returning $1,000 per note plus any due coupon, if on any call observation date from February 22, 2027 the underlier closes at or above its initial level. At maturity, if not called, investors receive $1,000 per note if the final underlier level is at or above the trigger buffer level, set at 61% of the initial underlier level. If the final level is below this buffer, principal is reduced one-for-one with the underlier return, down to a possible total loss of invested principal.

The notes do not participate in upside above par and offer no dividends or shareholder rights in NVIDIA. They are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, and are not listed; secondary market liquidity and pricing are uncertain. The estimated value at pricing is disclosed as being lower than the original issue price, and the U.S. federal income tax treatment is uncertain, with Sidley Austin LLP viewing the notes as income-bearing prepaid derivative contracts.

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 index-linked notes due August 17, 2027, under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the Nasdaq-100 Index® and the S&P 500® Index and are issued in $1,000 face amounts.

At maturity, you receive a cash amount per $1,000 equal to: if the final level of each index is above its initial level, $1,000 plus $1,000 multiplied by the lower of the two index returns, capped at a maximum settlement amount of $1,073; if either index is at or below its initial level, you receive only the $1,000 face amount. The notes pay no periodic interest and provide no upside above a 7.3% total return over one year.

The notes are unsecured obligations of GS Finance Corp, subject to the credit risk of both the issuer and The Goldman Sachs Group, Inc. They will not be listed on an exchange, and GS&Co. is not obligated to make a market, so liquidity and resale prices are uncertain. The estimated value at pricing, based on GS&Co.’s internal models, will be less than the 100% original issue price, reflecting underwriting discounts, hedging and structuring costs.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering equity-linked notes tied to an equally weighted basket of 11 large-cap technology and infrastructure stocks, including AMD, Alphabet, Amazon, Broadcom, Dell, Microsoft and others. The notes pay no interest and have an initial basket level of 100, with each stock initially weighted at approximately 9.091%.

The notes may be automatically called on the call observation date, expected September 6, 2027, if the basket level is at or above 100, paying $1,165.5 per $1,000 face amount on the call payment date. If not called, at maturity (expected August 31, 2029) investors receive: enhanced upside at a 150% participation rate for positive basket returns; a symmetric positive payoff when the basket is down up to 30% (via the absolute basket return); and full 1:1 downside beyond a 30% drop, with principal losses below the 70% trigger buffer level, potentially to zero.

The estimated value on the trade date is expected between $890 and $920 per $1,000 face amount, reflecting structuring and underwriting costs. Payments are subject to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as guarantor, and investors do not receive dividends or shareholder rights in the basket stocks.

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 leveraged EURO STOXX 50® Index-linked notes due 2031 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

For each $1,000 note, the cash payment at maturity depends on the EURO STOXX 50® Index level on August 28, 2031 versus its initial level set on the August 28, 2026 trade date. If the final index level is at or above the initial level, investors receive $1,000 plus 158% (at least) of the index gain. If the index is below the initial level but at or above 60% of it (a 40% trigger buffer), investors receive $1,000 plus the absolute value of the index return, turning moderate losses in the index into gains on the notes. If the index falls below 60% of the initial level, investors lose principal 1-for-1 with the index decline and could lose their entire investment.

The notes pay no interest, are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk. The issuer states the original issue price will exceed the model-based estimated value, in part due to underwriting discounts, structuring fees and other costs, which may depress secondary market prices. The notes will not be listed, and any market-making by Goldman Sachs & Co. LLC is discretionary.

Goldman Sachs Group, Inc. (GS), via GS Finance Corp., is offering autocallable EURO STOXX 50® Index-linked notes due August 31, 2029 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by Goldman Sachs.

The notes pay no interest and may be automatically called on September 2, 2027 if the EURO STOXX 50® closing level on the August 30, 2027 call observation date is at or above the initial level, in which case holders receive at least $1,151 per $1,000 face amount. If not called, the August 28, 2029 final index level determines the August 31, 2029 maturity payment: upside is leveraged with a 150% participation rate above the initial level; between 80% and 100% of the initial level, principal is repaid; below the 80% trigger buffer level, losses match the index decline and can reach 100% of principal.

Key risks include full principal at risk, no interest, capped return if called, market and liquidity risk (no listing and uncertain secondary market), and credit risk of both GS Finance Corp. and Goldman Sachs. The estimated economic value will be lower than the issue price, and U.S. tax treatment is uncertain, with the notes intended to be treated as a pre-paid derivative contract.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is issuing index-linked notes tied to the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER. The notes pay a conditional monthly coupon of $15.667 per $1,000 (about 18.8% per annum) only when the index is at or above 70% of its initial level of 945.66 on each coupon observation date.

The notes mature on August 13, 2032 but are subject to automatic call quarterly from February 2027 if the index is at least at its initial level, in which case investors receive par plus the then-due coupon, with no further payments. Principal is protected only down to a 50% trigger buffer: if the final index level falls below 50% of the initial level and the notes are not called, repayment of principal is reduced one-for-one with the index decline and investors can lose their entire investment.

The underlier uses up to 500% leverage, a 40% volatility target, and a 4% per annum daily decrement, all of which can materially drag performance and amplify losses. The original issue price is 100% of face, with a 1% underwriting discount and an estimated value of about $939 per $1,000, and payments are subject to the credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering buffered notes due May 18, 2028 linked to the S&P 500 Futures Excess Return Index. Each note has a $1,000 face amount and pays no interest.

At maturity, if the index level is at or above its initial level, holders receive $1,000 plus the index return, capped at $1,150 per note. If the index is below its initial level but at or above 75% of the initial level, holders gain the absolute value of the index loss (up to a 25% decline). Below the 75% buffer, investors lose principal 1-for-1 with further index declines and may lose a substantial portion of their investment.

The notes track futures on the S&P 500, not the cash index, and are exposed to factors such as financing costs and negative roll yield. They are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, and their estimated value at pricing will be less than the original issue price. No active trading market is assured.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes tied to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest and return at least the $1,000 face amount at maturity, subject to issuer and guarantor credit risk.

Unless automatically called, the cash settlement on the expected August 19, 2031 maturity depends on index performance from the expected August 14, 2026 trade date to the determination date. If the final index level is at least 102.5% of the initial level, investors receive a capped amount of 150.75% of face value; otherwise they receive 100% of face value.

The notes feature an annual automatic call if the index closes at or above specified call levels, paying face amount plus a fixed call return that rises from 10.15% in 2027 to 40.6% in 2030. The index is a volatility- and momentum-controlled, excess-return strategy that reallocates daily among futures-based equity, fixed-income and commodity indices plus a return-based money market position, and may be heavily in non-interest-bearing cash. Index returns are reduced by the federal funds rate at the base level and by an additional 0.65% per annum. The estimated initial value is $885–$925 per $1,000 face amount, below issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Index-Linked Notes due August 19, 2031 linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index. The notes pay no interest and are part of the Medium-Term Notes, Series F program.

The notes are automatically called monthly if on a call observation date the closing level of each underlier is at least its initial level, paying for each $1,000 face amount $1,000 plus $1,000 × the applicable call premium (starting at 8.25% and rising over time). If never called and each final underlier level is at least its initial level, investors receive $1,000 plus 41.25%. If any final underlier level is below its initial but at or above its 70% trigger buffer level, investors receive $1,000.

If any final underlier level is below its trigger buffer level, repayment is $1,000 plus $1,000 × the lesser performing underlier return, exposing investors to up to a 100% loss of principal. Returns are capped by the call premiums or the 41.25% maturity premium, and payments are subject to the credit risk of GS Finance Corp. and the guarantor. The issuer discloses that the estimated value on the trade date is less than the 100% original issue price and outlines liquidity, market value, and tax-uncertainty risks.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Contingent Coupon Index-Linked Notes due 2029 linked to the Nasdaq-100, Russell 2000 and S&P 500 indices. The notes pay a $18.125 contingent quarterly coupon per $1,000 face amount (1.8125% quarterly, up to 7.25% per annum) only if on each coupon observation date the closing level of every underlier is at or above 60% of its initial level.

The notes may be automatically called quarterly starting February 16, 2027 if each underlier is at or above its initial level, in which case investors receive $1,000 plus the applicable coupon. If the notes are not called, the maturity payment depends solely on the lesser performing underlier. If that index’s final level is at or above 60% of its initial level, investors receive $1,000; if it is below 60%, principal is reduced one-for-one with the underlier return, down to zero. Investors face full credit risk of the issuer and guarantor, may receive no coupons, and the estimated value at pricing is disclosed as being less than the original issue price.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing EURO STOXX 50® Index-linked Medium-Term Notes, Series F, with an aggregate face amount of $995,000 and a face amount of $1,000 per note. These notes pay no interest and return a cash amount at maturity in August 2030 based on index performance.

If the final index level is at or above the initial level of 6,523.86, holders receive $1,000 plus 157.5% of the index gain. If the index declines but finishes between 70% and 100% of the initial level, holders receive a positive return equal to the absolute index return. If the final level is below 70% of the initial level, principal is exposed one-for-one to the full index loss, and investors may lose their entire investment.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor. The estimated value at pricing is lower than the 100% issue price due to fees and structuring costs, secondary market liquidity is not assured, and the U.S. tax treatment is uncertain, with the notes intended to be treated as a pre-paid derivative contract.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable, income-bearing notes linked to the common stock of Broadcom Inc., Texas Instruments Incorporated and Celestica Inc., with an aggregate face amount of $521,000 and denominations of $1,000.

The notes pay a contingent monthly coupon of $19.167 per $1,000 (1.9167% monthly, up to about 23% per year) for each observation date that all three stocks close at or above 50% of their initial prices, otherwise the coupon for that month is zero. Initial prices are $427.76 (Broadcom), $286.08 (Texas Instruments) and $317.83 (Celestica). The notes may be automatically called from August 2027 through July 2029 if on a call observation date each stock closes at or above its initial price, returning principal plus the applicable coupon.

If not called, at maturity on August 14, 2029 investors receive $1,000 per note if a trigger event has not occurred (all final prices at or above initial prices). If a trigger event has occurred and any stock finishes below 50% of its initial price, repayment is reduced based on the lesser performing stock’s return, potentially resulting in a loss of more than 50% of principal and no final coupon. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor, and the estimated value at pricing is about $979 per $1,000, below the 100% issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering equity-linked notes tied to the Class A common stock of Palantir, Alphabet, and the common stock of Amazon and Oracle. The notes have an aggregate face amount of $1,236,000, trade on August 7, 2026, and mature on August 12, 2031, unless automatically called.

Investors receive a monthly coupon of $12.959 per $1,000 (1.2959% monthly, up to about 15.55% per annum) only if on each observation date the closing price of every index stock is at least 80% of its initial price; otherwise the coupon is zero. Starting August 2027, if on any call observation date all stocks are at or above 90% of their initial prices, the notes are automatically redeemed at face value plus the due coupon.

The initial prices are $172.01 (Palantir), $354.3 (Alphabet), $274.48 (Amazon) and $147.02 (Oracle). The estimated value at pricing is about $956 per $1,000 face, below the 100% issue price, reflecting underwriting discount and structuring costs. Payments depend on the credit of GS Finance Corp. and its guarantor, and the notes are unsecured, not insured, and may have limited secondary market liquidity.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing Medium-Term Notes, Series F with an aggregate face amount of $11,912,000. The notes pay a contingent quarterly coupon of $25.375 per $1,000 (2.5375% quarterly, up to 10.15% per annum) if on each coupon observation date the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index are all at or above 75% of their respective initial levels.

The notes may be automatically called on specified dates starting August 9, 2027 if all three indices are at or above their initial levels, in which case investors receive $1,000 per note plus the due coupon. If not called, at maturity on August 12, 2032 the cash settlement per $1,000 depends on the lesser performing underlier: full principal is returned if its final level is at or above 75% of its initial level, otherwise repayment equals $1,000 plus $1,000 times that index’s return, which can result in a total loss of principal.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed, and may have limited secondary market liquidity. Tax disclosure describes treatment as an income-bearing pre-paid derivative contract, with coupon payments likely taxed as ordinary income and potential FATCA and withholding implications for non-U.S. holders.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., offers contingent income auto-callable yield notes linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index, with an aggregate face amount of $1,587,000 and scheduled maturity on February 10, 2028, subject to automatic call.

Investors receive a contingent monthly coupon of $9.292 per $1,000 (0.9292% monthly, up to approximately 11.15% per year) only if on each observation date all three indices are at or above 65% of their initial levels; otherwise no coupon is paid. The notes are automatically called if on a call observation date all indices are at or above their initial levels, returning principal plus the coupon then due.

If the notes are not called and on the determination date the worst-performing index is at or above 65% of its initial level, holders receive full principal. If the worst index finishes below 65%, repayment is reduced one-for-one with that index’s decline, potentially to zero. The payoff depends solely on the worst performer, and investors bear the unsecured credit risk of GS Finance Corp. and the guarantor, with limited liquidity and potentially significant price volatility during the term.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering $7,549,000 of Medium‑Term Notes, Series F, auto‑callable and linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes are issued at 100% of face amount with a 4.25% underwriting discount (net proceeds 95.75% of face).

The notes may be automatically called annually from 2027 to 2033 if the index closes at or above rising call levels, paying $1,000 plus a call premium of up to 82.25% per $1,000. If not called, at maturity in August 2034 investors receive $1,000 plus 100% of index gains; if the final index level is at or below the initial level, they receive only the face amount. The initial index level is 114.33. The index employs daily rebalancing, 5% volatility control and a momentum risk control feature, with a 0.65% per annum deduction and excess‑return structure that can allocate heavily to hypothetical cash positions.

The issuer’s estimated value on the trade date is $894 per $1,000, below the issue price, reflecting fees and hedging costs, including an additional amount of $63.5 amortizing to zero by November 6, 2026. The notes pay no periodic interest, are subject to the credit risk of GS Finance Corp. and the guarantor, and are treated as contingent payment debt instruments for U.S. tax purposes.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable, no-coupon notes linked to an equally weighted basket of six NASDAQ-listed stocks (Alphabet, AppLovin, Fastenal, Micron, Microsoft and NVIDIA). The basket has an initial level of 100 and each stock carries an initial weighting of about 16.667%.

The notes may be automatically called on eight observation dates from August 9, 2027 through May 7, 2029 if the basket level is at or above the initial level, paying per $1,000 face amount $1,000 plus a call premium that starts at 19.75% and rises to 54.3125%. If not called, at maturity on August 10, 2029, investors receive: $1,592.5 per $1,000 if the basket is at or above its initial level; $1,000 if the basket is below the initial level but at or above the 75% trigger buffer; or $1,000 + $1,000 × basket return if the basket is below the trigger, resulting in losses matching the negative basket return and potentially a full loss of principal.

The aggregate face amount on the original issue date is $1,583,000, in $1,000 denominations, with an issue price of 100%, underwriting discount of 1.2% and net proceeds of 98.8% of face. The estimated value is approximately $959 per $1,000 at pricing, reflecting structuring costs and dealer compensation. Payments depend on the basket’s performance and are subject to the unsecured credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F with an aggregate face amount of $1,000,000, issued at 100% of face with a 0.5% underwriting discount. The notes are linked to three underliers: the Nasdaq-100 Technology Sector Index (initial level 17,316.43), the Russell 2000 Index (initial level 3,034.494) and the VanEck Semiconductor ETF (initial level $582.70).

Investors receive a contingent monthly coupon of $16.792 per $1,000 face amount (1.6792% monthly, up to approximately 20.15% per annum) only if on the observation date the closing level of each underlier is at or above 60% of its initial level (the coupon trigger level). The same 60% level is the trigger buffer for principal protection at maturity.

The notes are automatically called if on any call observation date (starting February 8, 2027) each underlier is at or above its initial level, paying $1,000 per note plus any due coupon. If the notes are not called, at maturity on August 12, 2032 investors receive $1,000 per note if every underlier’s final level is at or above 60% of its initial level; otherwise, the payoff equals $1,000 plus $1,000 times the lesser performing underlier return, which can reduce principal down to zero.

The disclosure emphasizes that investors may lose their entire investment, may receive few or no coupons, face credit risk of the issuer and guarantor, significant market and liquidity risk, sector concentration risks in technology and semiconductors, foreign market and currency risks, and uncertain U.S. federal income tax treatment, including potential application of constructive ownership rules.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes due August 19, 2031 tied to the Goldman Sachs Momentum Builder® Focus ER Index. For each $1,000 face amount at maturity, investors receive either $1,000 or a leveraged gain based on index performance.

If the final index level exceeds the initial level, the payoff equals $1,000 plus 750% of the index return, providing 7.5x leveraged upside. If the index is flat or declines, investors receive only the $1,000 face amount, with no additional return. The notes pay no periodic interest and are exposed to the credit risk of both GS Finance Corp. and the guarantor.

The underlying index is a complex, rules-based strategy that rebalances daily among equity, bond, commodity and cash exposures, with a 5% volatility control and a momentum risk control overlay. The index is calculated on an excess return basis over the federal funds rate and is subject to a 0.65% per annum deduction, and it can allocate a very large portion to cash-like positions, which may materially limit upside. 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 even though cash is only received at maturity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $10,619,000 of Contingent Income Auto-Callable Securities with Memory Coupon linked to the common stock of Palo Alto Networks, Inc. The notes mature on August 10, 2029, unless automatically called earlier.

For each $1,000 note, investors may receive contingent quarterly coupons based on a formula using $43.75 per elapsed observation date, but only when the stock’s closing price on the relevant observation date is at or above the downside threshold price of $181.93, which is 50.00% of the initial share price of $363.86. Missed coupons may be paid later under the memory coupon feature.

If on any call observation date the stock closes at or above the initial share price, the notes are automatically called and repay $1,000 plus the applicable coupon, with no further payments. If the notes are not called and the final share price is below the downside threshold, principal repayment is reduced 1-to-1 with the stock decline, potentially to zero. The estimated value is approximately $974 per note, below the issue price, and investors are exposed to the unsecured credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is issuing $1,252,000 of Medium-Term Notes, Series F, linked to the S&P 500 Futures Excess Return Index, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and are cash-settled at maturity on August 10, 2029, based on index performance from the August 7, 2026 trade date to the August 7, 2029 determination date.

For each $1,000 note, if the final underlier level is at or above the initial level of 619.15, the payoff is $1,000 plus 143% of the underlier return. If the index falls but remains at or above the 80% buffer level (a 20% decline), the payoff increases by the absolute underlier return, providing up to 20% downside cushion. Below the buffer level, investors lose 1% of face value for each 1% decline beyond the buffer, and could lose a substantial portion of principal.

The original issue price is 100% of face amount, including a 0.75% underwriting discount, for net proceeds of 99.25% to the issuer. Key risks include the credit risk of GS Finance Corp. and its parent, the possibility of large losses if the futures-based underlier declines, potential illiquidity, sensitivity to interest rates and volatility, and uncertain U.S. tax treatment as a pre-paid derivative contract.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing structured notes linked to the common stock of Microsoft, Oracle and Palantir Class A with an aggregate face amount of $445,000. The notes pay a contingent monthly coupon of $17.709 per $1,000 (1.7709% monthly, up to about 21.25% per year) only when the closing price of each stock on a coupon observation date is at least 50% of its initial price; otherwise no coupon is paid.

The notes may be automatically called on monthly call observation dates from August 2027 through July 2029 if each stock is at or above its initial price (Microsoft $499.99, Oracle $147.02, Palantir $172.01). Upon a call, investors receive par plus that month’s coupon and the notes terminate. If not called, at maturity on August 10, 2029 investors receive $1,000 per note so long as a trigger event has not occurred; a trigger event occurs if each stock’s final price is below its initial price. If a trigger event occurs and any stock finishes below 50% of its initial price, repayment is reduced based on the worst-performing stock and can fall to zero, with no coupon.

The notes are unsecured obligations of GS Finance Corp., subject to the credit risk of both the issuer and guarantor. The estimated value on the trade date is approximately $963 per $1,000 face amount, below the 100% issue price, reflecting structuring and distribution costs.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Contingent Coupon Equity‑Linked Notes due 2029 linked to Apple, Amazon.com and Alphabet Class A stock. Each note has a $1,000 face amount and pays contingent quarterly coupons.

On each coupon payment date, investors receive $33.75 per $1,000 (3.375% quarterly, up to 13.50% per year) only if the closing level of each underlier on the related observation date is at or above its coupon trigger level of 60% of its initial level. The notes are automatically called if, on any call observation date from February 16, 2027 through May 14, 2029, all underliers are at or above their initial levels; in that case investors receive $1,000 per note plus the applicable coupon.

If the notes are not called, the August 17, 2029 maturity payment per $1,000 depends on the lesser performing underlier. If each final level is at or above its 60% trigger buffer level, investors receive $1,000 plus any final coupon. If any final level is below its trigger buffer level, repayment is reduced to $1,000 × (1 + lesser performing underlier return), which can result in a total loss of principal. Investors face the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and the estimated value at pricing will be lower than the original issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $617,000 aggregate face amount of index-linked notes under its Medium-Term Notes, Series F program. The notes pay a contingent monthly coupon of $8.625 per $1,000 (0.8625%, up to 10.35% per annum) only if on each observation date the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index are all at or above 65% of their initial levels.

At maturity, if the notes have not been redeemed and the worst-performing index is at or above its 65% trigger buffer level, investors receive $1,000 per $1,000 face amount plus any final coupon. If the worst index finishes below 65% of its initial level, repayment of principal is reduced one-for-one with that index’s loss, down to zero, so investors may lose their entire investment and do not participate in any index gains above par.

The issuer may redeem the notes at par plus any due coupon, in whole but not in part, on any coupon payment date from November 2026 through January 2028. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., feature an original issue price of 100% of face amount with a 0.725% underwriting discount, are not listed on any exchange, and have uncertain tax treatment and secondary market value.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing auto-callable structured notes linked to the S&P 500 Index, Russell 2000 Index and the State Street Consumer Staples Select Sector SPDR ETF. Aggregate face amount on the original issue date is $500,000, in $1,000 denominations.

The notes pay a conditional monthly coupon of $8.542 per $1,000 (0.8542% monthly, up to ~10.25% per annum) only if on each coupon observation date the level of every underlier is at least 70% of its initial level. Starting in November 2026, the notes are automatically called if on any call observation date each underlier is at or above its initial level, returning face amount plus the coupon.

If not called, at maturity on August 12, 2031 the payoff depends on the worst-performing underlier. If all final levels are at least 70% of initial, investors receive face amount plus the final coupon; if all are at least 65% but any is below 70%, investors receive face amount only. If any underlier finishes below 65% of its initial level, principal is reduced one-for-one with the worst underlier’s loss, down to zero, with no coupon. Payments are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes may trade below face value in the secondary market.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing market-linked, auto-callable notes due August 12, 2031, tied to the worst performer among Micron, Sandisk, Dell Technologies Class C and Tesla common stock. Each note has a $1,000 face amount.

The notes pay a monthly contingent coupon of $12 per $1,000 (14.40% per annum) only when the lowest performing stock on a calculation day is at or above 75% of its starting price; a memory feature pays previously missed coupons if the condition is later met. From August 2027 to July 2031, if the lowest performer is at or above its starting price on a call date, the notes are automatically called at face value plus the applicable coupon(s).

If not called, investors receive $1,000 at maturity, but no upside participation and no dividends. The estimated value at pricing is about $966 per $1,000, below the $1,000 offering price, reflecting fees and structuring costs. All payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes are intended to be held to maturity with no exchange listing.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon index-linked notes due August 19, 2031 linked to the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index. Payment at maturity, if the notes are not automatically called, depends on the underlier with the lowest return.

The notes pay a contingent quarterly coupon of $18.75 per $1,000 face amount (1.875% quarterly, up to 7.5% per annum) only if each underlier is at or above 70% of its initial level on the relevant observation date; otherwise no coupon is paid. The notes are automatically called if on any call observation date each underlier is at or above its initial level, in which case investors receive $1,000 per note plus the coupon then due.

At maturity, if not called, investors receive $1,000 per note if the final level of each underlier is at or above 50% of its initial level. If any underlier finishes below 50%, repayment of principal is reduced one-for-one with the return of the worst-performing index, and investors can lose up to 100% of principal. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, and the estimated value at pricing will be less than the 100% issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon notes linked to the Class C capital stock of Alphabet, Class A common stock of Meta Platforms, common stock of NVIDIA and common stock of Tesla. The notes have a stated maturity of August 12, 2031 and an aggregate face amount of $9,575,000, with an original issue price of 100% of face amount.

Holders receive a monthly contingent coupon of $10.417 per $1,000 (1.0417% monthly, up to about 12.5% p.a.) only if on each coupon observation date the closing price of each stock is at least 80% of its initial price ($353.47 Alphabet, $592.10 Meta, $223.96 NVIDIA, $328.58 Tesla). From August 2027 through July 2031, the notes are automatically called if on any call observation date all stocks are at or above their initial prices, paying face amount plus the due coupon. If not called, investors receive face amount plus any final coupon at maturity. The estimated value is approximately $957 per $1,000 face amount, reflecting underwriting and structuring costs, and all payments are subject to the unsecured credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering contingent income auto-callable notes linked to the common stock of Freeport-McMoRan Inc. The notes have an aggregate face amount of $1,450,000 and a face amount of $1,000 per note.

Investors may receive a $40 quarterly coupon (4%, up to 16% per annum) whenever the FCX closing level on a coupon observation date is at or above the coupon trigger level, set at 50% of the $68.18 initial underlier level. The same 50% threshold is the trigger buffer level: if, at maturity in August 2029, the final FCX level is at or above this level and the notes have not been called, investors receive 100% of face amount plus any final coupon.

If the final FCX level is below the trigger buffer level, principal is exposed one-for-one to FCX’s decline, and investors can lose up to 100% of their investment. The notes are subject to automatic call at par plus coupon if FCX is at or above its initial level on any call observation date. They are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, and have tax treatment and secondary-market values that may differ from the original issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $1,750,000 of autocallable index-linked notes due August 12, 2031. The notes pay no interest and are unsecured obligations subject to the credit risk of both entities.

The notes are linked to the Nasdaq‑100, S&P 500 and Russell 2000 indices. On the November 9, 2026 call observation date, if each index is at least 95% of its initial level (29,722.30, 7,757.64 and 3,034.494, respectively), the notes are automatically redeemed at $1,057 per $1,000 face amount (a 5.7% total return), capping upside at that point.

If not called, the maturity payoff depends on the lesser-performing index. If each final index level exceeds its initial level, holders receive $1,000 plus 125% of the lesser index’s positive return. If any index is at or below its initial level but all remain at or above 70% of initial, investors receive only the $1,000 principal. If any index finishes below 70%, principal is reduced by about 1.4286% for every 1% the lesser index falls below 70%, up to a total loss of principal.

The estimated value is approximately $980 per $1,000 face amount on the trade date, below the issue price of 100%, reflecting structuring and distribution costs, including a fee of up to 0.25% of face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing Medium-Term Notes, Series F maturing on February 12, 2031. The notes pay no interest and the payoff depends on a weighted equity basket: EURO STOXX 50® (60%), Nikkei 225 (20%) and iShares® MSCI Emerging Markets ETF (20%), measured from August 7, 2026 to February 7, 2031.

The initial basket level is 100. If the final basket level is above 100, investors receive principal plus 130% of the basket’s positive return. If the basket return is between 0% and -40%, investors receive only principal. If the basket return is below -40%, repayment falls one-for-one with the basket, and investors can lose up to 100% of principal.

The total initial face amount is $1,760,000, offered at 100% of face, with a 0.25% underwriting discount and 99.75% net proceeds to the issuer. The notes’ estimated value at pricing is approximately $958 per $1,000, reflecting structuring and distribution costs. Payments are unsecured and subject to the credit risk of GS Finance Corp. and its parent. For U.S. tax purposes, the issuer intends to treat the notes as a pre-paid derivative contract on the basket, though the ultimate tax treatment is uncertain.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing auto-callable income notes linked to three stocks: an ordinary share of Linde plc, the common stock of Oracle Corporation and the common stock of Automatic Data Processing, Inc. The notes have a stated maturity date of August 14, 2029, a trade date of August 7, 2026, and an aggregate face amount of $505,000, in $1,000 denominations.

The initial index stock prices are $489.98 (Linde), $147.02 (Oracle) and $271.32 (ADP). Monthly observation dates begin in September 2026. If on any coupon observation date the closing price of each stock is at least 50% of its initial price, investors receive a memory coupon of $9.792 per $1,000 (0.9792% monthly, up to about 11.75% per year), net of coupons already paid; otherwise the coupon is zero. From August 2027 to July 2029, if on any call observation date all three stocks are at or above their initial prices, the notes are automatically called at $1,000 per note plus the due coupon.

If the notes are not called, principal repayment depends on a trigger test at final valuation on August 7, 2029. If at least one stock finishes at or above its initial price, investors receive full principal, and if all three are at or above 50% of initial, also the final coupon. If all three finish below their initial prices and any finishes below 50% of its initial price, repayment is reduced in line with the worst-performing stock’s return, down to zero, and no coupon is paid. The estimated value is about $943 per $1,000 note; issue price is 100% of face, with a 1.25% underwriting discount and 98.75% net proceeds, and payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering $8,732,000 of Medium-Term Notes, Series F linked to the Nasdaq-100, Russell 2000 and S&P 500 indices. The notes have a face amount of $1,000 each and pay a contingent monthly coupon of $9.5 (0.95%, up to 11.4% per annum) when the closing level of each index on the relevant observation date is at least 70% of its initial level.

At maturity on May 10, 2030, if not earlier redeemed, investors receive $1,000 per note only if the final level of every index is at least 55% of its initial level; otherwise principal is reduced in proportion to the lesser performing index, and investors can lose their entire investment. The issuer may redeem the notes early, in whole, on any coupon payment date from November 2026 through April 2030 at $1,000 plus any due coupon. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, carry an original issue price of 100% of face amount, an underwriting discount of 0.5% and net proceeds of 99.5% of face amount, and will not be listed on any securities exchange.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $1,726,000 face amount of underlier-linked notes due August 10, 2029. The notes pay no interest and repay at maturity an amount tied to the lesser performing of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF, measured from August 7, 2026 to August 7, 2029.

If both underliers finish above their initial levels (6,523.86 and $108.55), holders receive $1,000 plus 218.25% of the lesser underlier’s positive return per $1,000. If any underlier finishes at or below its initial level and no trigger event (more than 30% drop at any time) has occurred, principal is returned. If a trigger event occurs and the lesser underlier’s final level is below its initial level, repayment falls one-for-one with that underlier’s loss, potentially to zero, so investors can lose their entire investment.

The original issue price is 100% of face, with a 0.55% underwriting discount and 99.45% net proceeds to the issuer. The estimated value is about $983 per $1,000, reflecting structuring and distribution costs. Payments are subject to the unsecured credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F linked to the S&P 500 Futures Excess Return Index, with an aggregate face amount of $6,361,000. The notes are issued at 100% of face amount, with a 0.5% underwriting discount and 99.5% net proceeds to the issuer.

At maturity in August 2030, the cash payment per $1,000 note depends on index performance. If the final underlier level is at or above the initial 619.15 level, investors receive $1,000 plus 179.15% of the index gain. If the final level is below the initial but at or above the 60% trigger buffer level, investors receive $1,000 plus 50% of the absolute index loss, resulting in a positive return. If the final level falls below the trigger buffer level, principal is reduced one-for-one with the index loss, and investors can lose their entire investment.

The notes do not bear interest, are unsecured senior obligations subject to the credit risk of GS Finance Corp. and the guarantor, and are not bank deposits or FDIC-insured. They reference equity futures rather than the cash S&P 500 Index and are exposed to risks such as negative roll yield, market disruptions, uncertain tax treatment, secondary-market illiquidity, and an estimated value at pricing that is lower than the original issue price.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F with an aggregate face amount of $570,000 linked to the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index. The notes pay a contingent monthly coupon of $7 per $1,000 (0.7% monthly, up to 8.40% per annum) only if, on the relevant observation date, the closing level of each index is at or above its coupon trigger level, set at 80% of its initial level.

Principal repayment depends on the index with the lowest return. Each index has a buffer level at 50% of its initial level; if the final level of any index is below its buffer, the cash settlement amount per $1,000 is reduced in line with the lesser performing index, and investors may lose a substantial portion of principal. Upside is capped at return of face amount plus any final coupon, even if the indexes more than double.

The issuer may redeem the notes in whole at par plus any due coupon on any coupon payment date from February 2027 through July 2031, potentially shortening the investment period. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, may have limited or no secondary market, are issued at 100% with an underwriting discount of 0.75%, and include complex U.S. tax and valuation considerations.