Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. issues structured, non‑interest notes linked to a 9‑stock equally weighted basket. The offering has an aggregate face amount of $11,527,000, a stated maturity of March 30, 2028, and an automatic call feature on April 8, 2027. If automatically called, each $1,000 face amount pays $1,184.50 on the call payment date. At maturity, holders receive: (a) if the final basket level > initial level, $1,000 plus 125% participation in the basket return; (b) if final level ≥ 85% of initial, $1,000; or (c) if final level < 85%, a reduced cash amount using a buffer rate of ~117.65%. Trade date is March 26, 2026; original issue date is March 31, 2026. The estimated value at pricing was approximately $934 per $1,000 face amount. Original issue price: 100%; underwriting discount: 1.5%; net proceeds: 98.5%. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc.

GS Finance Corp. prices structured, autocallable notes linked to a 6-stock equally weighted basket

The prospectus supplement describes non‑interest bearing notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., with trade date March 26, 2026, original issue date March 31, 2026 and stated maturity April 2, 2031. The notes pay only cash at automatic call dates or at maturity based on the performance of an equally weighted basket of six airline, travel and aerospace stocks (initial basket level 100). The notes are automatically redeemed if the basket closing level on any call observation date is ≥100; call premiums range from 13% to 58.5% depending on the call date. If not called, maturity payoff per $1,000 face amount is capped at $1,650 when the final basket level is ≥100, returns principal ($1,000) if the final level is ≥60% of initial, and risks proportional downside below 60% (example: a final level of 48 produces $480). The estimated model value on the trade date was approximately $919 per $1,000 face amount; original issue price is 100% with an underwriting discount of 4.125%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering capped, non‑interest paying, EURO STOXX 50® linked notes with an automatic call feature. For each $1,000 face amount, the notes pay $1,156 on the call payment date if the underlier on the call observation date is greater than or equal to the initial level. If not called, maturity payoffs depend on the final underlier level: upside participation of 150% above the initial level, full return at or above a 70% trigger buffer, and pro rata downside below that level, meaning investors can lose up to their entire investment.

Trade date is March 26, 2026, original issue date March 31, 2026, determination date March 27, 2028, and stated maturity March 29, 2028. The notes are subject to issuer and guarantor credit risk, limited liquidity, an underwriting discount of 1.3%, and uncertain U.S. federal income tax treatment.

The issuer, GS Finance Corp., is offering capped, principal‑protected notes linked to the S&P 500 Index with an aggregate face amount of $649,000. Each $1,000 face amount will pay no interest and will settle in cash at maturity on March 29, 2029 based on the underlier return from the trade date to the determination date. If the final index level exceeds the initial level the payoff equals $1,000 plus the index return subject to a $1,217 cap per $1,000; if the final level is equal to or below the initial level you receive the $1,000 face amount. The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., carry underwriting concessions of 0.5%, and are treated as contingent payment debt instruments for U.S. tax purposes.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to an equally weighted basket of 9 common stocks with a stated maturity of March 30, 2028 and an automatic call feature on April 8, 2027. If the basket meets the call trigger, holders receive $1,171 per $1,000 face amount on the call payment date. At maturity holders receive either principal plus participation when the final basket level is above the initial level, the face amount if the final level is between the initial level and the buffer level (80%), or a reduced cash settlement if the final level is below the buffer. Key terms include an upside participation rate of 125%, a buffer of 20% (buffer level = 80% of initial level), an estimated value at pricing of approximately $938 per $1,000, and an original issue price of 100% with a 1.5% underwriting discount.

GS Finance Corp. offers $1,300,000 aggregate face amount of Absolute Return Trigger S&P 500® Index‑Linked Notes due April 3, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® Index with an initial index level of 6,477.16 (trade date: March 26, 2026). A barrier event occurs if the index closes below 76% or above 124% of the initial level on any trading day during the measurement period; if a barrier event occurs, holders receive $1,020 per $1,000 face amount (a 2% contingent return) at maturity. If no barrier event occurs, the cash payment equals $1,000 plus $1,000 times the absolute index return, capped at $1,240 per $1,000. The estimated value on the trade date was approximately $947 per $1,000. Original issue price: 100%; underwriting discount: 2.25%; net proceeds: 97.75%.

GS Finance Corp. is offering autocallable, contingent-coupon equity-linked notes linked to the common stock of NVIDIA Corporation. Each note has a $1,000 face amount, an original issue price equal to face, and a stated maturity of April 21, 2027. The notes pay a contingent quarterly coupon only if the underlier closes at or above a coupon trigger level equal to 80% of the initial underlier level on each coupon observation date, and will be automatically called on a call payment date if the underlier closes at or above the initial underlier level on any call observation date. At maturity, if not called, the cash settlement depends on the final underlier level and the disclosed buffer terms (buffer level 80%, buffer amount 20%, buffer rate 125%), and investors could lose their entire investment. The notes are senior obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., carry an underwriting discount of 1%, and are subject to credit, market, tax, and liquidity risks described herein.

GS Finance Corp. is offering structured notes linked to the iShares&reg; MSCI EAFE ETF (ticker EFA) with a face amount of $1,000 per note and a maximum cash settlement of $1,550. Trade date is March 31, 2026, original issue date April 6, 2026, determination date April 1, 2030 and stated maturity April 4, 2030. At maturity the cash payment per $1,000 face equals $1,000 plus the underlier return if the final underlier level exceeds the initial level, capped at the maximum settlement amount; if the final level is equal to or below the initial level, holders receive the face amount. The notes pay no interest and are unsecured senior debt of GS Finance Corp., unconditionally guaranteed by The Goldman Sachs Group, Inc. The pricing supplement highlights structural, market, credit, foreign‑market and tax risks and states that the original issue price will exceed the notes' estimated model value.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due March 30, 2029 that pay interest at 4.70% per annum from and including the original issue date March 30, 2026 to but excluding the stated maturity date. Interest is payable semiannually on March 30 and September 30, with the first payment on September 30, 2026. The notes are callable at the issuer's option, in whole but not in part, on each quarterly redemption date on or after March 30, 2027, at a redemption price equal to 100% of principal plus accrued interest, subject to at least five business days' prior notice.

The initial price to public is 100% for an aggregate principal amount of $4,000,000; underwriting discount is 0.512% ($20,480) and proceeds before expenses to Goldman Sachs are 99.488% ($3,979,520). Delivery against payment is scheduled in New York on March 30, 2026. FATCA withholding applies and distribution restrictions apply across multiple jurisdictions.

The Goldman Sachs Group, Inc. is offering $5,099,000 of Callable Fixed Rate Notes due March 30, 2038 with a fixed interest rate of 5.35% per annum, payable semiannually on March 30 and September 30 beginning September 30, 2026. The notes are callable in whole, but not in part, on quarterly redemption dates on or after March 30, 2031 at 100% of principal plus accrued interest.

Initial price to public is 100% of principal; underwriting discount is 2.065%, producing proceeds before expenses to the issuer of $4,993,705.65. The notes will be issued in book-entry form through DTC and are a new issue with no established trading market.

GS Finance Corp. is offering leveraged, buffered notes linked to the S&P 500® Futures Excess Return Index with terms set on the trade date. For each $1,000 face amount the cash payment at maturity depends on the underlier return, subject to a 90% buffer, a 200% upside participation rate and a capped maximum settlement amount of at least $1,374. The trade date is April 27, 2026, original issue date April 30, 2026, determination date October 27, 2028 and stated maturity November 1, 2028. If the final underlier level is above the initial level you receive upside participation (capped); if it is between the initial level and the 90% buffer you receive the face amount; if it falls below the buffer you incur a proportional loss of principal. The notes are unsecured senior obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., do not pay interest and involve futures-specific risks (including negative roll yield and contango).

The Goldman Sachs Group, Inc. is offering $22,755,000 of Callable Fixed Rate Notes due March 30, 2031. The notes pay interest at 4.80% per annum from the original issue date March 30, 2026, with semiannual payments each March 30 and September 30 (first payment September 30, 2026). The notes are callable by the issuer in whole, but not in part, on each quarterly redemption date on or after March 30, 2028, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ prior notice. The initial price to public is 100% and underwriting discount is 1.117%, leaving proceeds before expenses to The Goldman Sachs Group, Inc. of $22,500,826.65. Settlement is scheduled in New York on March 30, 2026.

The Goldman Sachs Group, Inc. is offering $21,844,000 aggregate principal amount of Callable Fixed Rate Notes due March 30, 2035. The notes pay interest at 5.30% per annum from the original issue date March 30, 2026, with semiannual payments each March 30 and September 30 (first payment on September 30, 2026). The issuer may redeem the notes in whole (but not in part) on specified quarterly redemption dates on or after March 30, 2028, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ prior notice. The initial price to public is 100% of principal; underwriting discount is 1.01%, and proceeds to Goldman Sachs (before expenses) are $21,623,375.60. The offering is limited to qualified purchasers in specified jurisdictions and is subject to FATCA withholding and other tax considerations.

GS Finance Corp. offers a principal‑at‑risk note linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (Bloomberg: SPAR4V6 Index). The notes have an expected trade date of April 1, 2026, an original issue date expected to be April 6, 2026, and a stated maturity expected to be April 8, 2031. The notes do not pay interest and are subject to automatic redemption on scheduled call observation dates beginning in January 2027 if the closing index level is >= 85% of the initial level, producing a capped cash call payment equal to $1,000 plus a date‑specific call premium. If not called, maturity payoff depends on the underlier return and is capped at a maximum settlement amount of $1,987.54 per $1,000 face. The underlier applies a fixed 6.0% per annum decrement, may use up to 500% leverage with a 100% cap on daily leverage change, and includes a 60% trigger buffer for reduced loss protection. The prospectus discloses an estimated value of $885–$925 per $1,000 face at pricing, which is below the original issue price.

GS Finance Corp. is offering $ Buffered S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount will pay at maturity based on S&P 500 performance measured from an initial level of 6,368.85 (set March 27, 2026) to the determination date. The notes cap upside at $1,100 per $1,000 and provide a 17.22% buffer: final declines up to 17.22% produce a positive cash payment equal to the absolute decline, while declines beyond the buffer amplify losses by a factor of approximately 1.208 and can result in total loss. The notes pay no interest, are subject to issuer and guarantor credit risk, and may have limited secondary-market liquidity. Determination date is April 12, 2027 and stated maturity is April 15, 2027.

The issuer, GS Finance Corp., is offering S&P 500® Index-Linked Notes due 2030 that pay, at maturity, either the face amount or a cash payment tied to the S&P 500® Index performance from the trade date to the determination date, capped by a maximum settlement amount of at least $1,290. The notes pay no interest, are senior debt of GS Finance Corp. and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.. Key dates shown include a trade date of April 27, 2026, original issue date April 30, 2026, determination date April 29, 2030, and stated maturity date May 2, 2030. The notes are subject to issuer and guarantor credit risk and limited upside by the cap.

GS Finance Corp. is offering Autocallable Goldman Sachs Momentum Builder® Focus ER Index-Linked Notes due 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have a 100% upside participation rate, and are subject to annual automatic calls if the index closes at or above 101% of the initial index level on a call observation date. If not called, maturity payoff equals principal plus upside participation on positive index return; if the final index level is equal to or less than the initial level, investors receive the face amount. GS&Co. estimates trade-date indicative values of $850–$890 per $1,000 face amount. The index applies a 0.65% per annum deduction and daily rebalancing with volatility and momentum controls that can allocate substantial exposure to hypothetical cash positions.

GS Finance Corp. offers market-linked notes linked to Bristol-Myers Squibb stock due April 5, 2029. Each security has a face amount and original offering price of $1,000. The securities pay a contingent quarterly coupon of at least $20.00 per $1,000 (equivalent to 8.00% per annum) only if the underlying stock's closing price on a calculation day is >= the coupon threshold (60% of the starting price). The notes are auto-callable from September 2026 through December 2028 if the stock's closing price on a call date is >= the starting price; on an automatic call holders receive the face amount plus a final contingent coupon. If not called, principal at maturity depends on the ending price: if the ending price is < 50% of the starting price holders will suffer losses (potentially losing most or all principal). All payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., so investors bear issuer/guarantor credit risk. The estimated value at pricing is between $925 and $955 per $1,000, below the offering price; there is no exchange listing and these securities are designed to be held to maturity.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due April 17, 2036 with an annual interest rate of 5.00%. The notes trade on April 15, 2026 and have an original issue date of April 17, 2026. Denominations are $1,000 and integral multiples thereof. The notes will be issued in book-entry form as a master global note (CUSIP 38151FXP3 / ISIN US38151FXP34), will not be listed on any exchange, and use a 30/360 (ISDA) day count convention for interest calculations. The issuer may terminate the offering prior to the trade date if there is a significant adverse movement in its credit spread “as determined by the issuer in its sole discretion.”

GS Finance Corp. is offering non‑interest bearing, principal‑protected‑if‑minimum notes linked to the lesser performing of three ETFs: Global X Uranium (URA), State Street Energy Select Sector (XLE) and State Street Industrial Select Sector (XLI). The notes have an upside participation rate of 162%, an expected trade date of March 31, 2026, and an expected stated maturity of April 3, 2031. For each $1,000 face amount, at maturity investors will receive either (a) $1,000 if any underlier return is zero or negative, or (b) $1,000 plus $1,000×162%×(lesser performing underlier return) if all three underliers have positive returns on the determination date. The estimated value on the trade date is expected to be between $885 and $925 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and guarantee of The Goldman Sachs Group, Inc.

GS Finance Corp. is offering autocallable, contingent‑coupon notes linked to the S&P 500® Index with an expected trade date of March 30, 2026 and expected stated maturity of July 6, 2027. The notes pay a monthly coupon of $6.459 per $1,000 face amount when the index closing level on a coupon observation date is at least 75% of the initial level, and may be automatically called on observation dates if the index is at or above its initial level.

At maturity (if not called), principal repayment depends on the final index return relative to a 15% buffer (buffer level = 85% of initial). Estimated value at pricing is between $925 and $955 per $1,000 face amount. Terms are subject to the issuer's and guarantor's credit risk and other conditions described herein.

The Goldman Sachs Group, Inc. is offering callable fixed-rate notes due 2031 that bear interest at 4.90% per annum from the original issue date expected to be April 17, 2026 to the stated maturity expected to be April 17, 2031.

Interest is payable on each expected interest payment date of April 17 and October 17, with the first payment expected on October 17, 2026. The issuer may redeem the notes in whole (but not in part) on expected quarterly redemption dates on or after April 17, 2028 at a redemption price equal to 100% of principal plus accrued interest, with at least five business days' prior notice.

The notes will be issued in book-entry form through DTC, are a new issue with no established trading market, and are to be initially distributed by Goldman Sachs & Co. LLC and InspereX LLC, with settlement expected on April 17, 2026. The pricing supplement and accompanying prospectus materials govern terms and tax and regulatory disclosures.

GS Finance Corp. is offering Autocallable S&P 500® Index-Linked Notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and are cash‑settled based on S&P 500 performance. The notes can be automatically called on April 27, 2028 if the closing level is at or above the initial level; an automatic call would pay at least $1,162 per $1,000 face amount. If not called, maturity payoff depends on final underlier level: upside participation is 125%, the buffer level is 80% of the initial level (a 20% buffer), and downside exposure can produce large losses (examples show payouts as low as 20% of face when the underlier falls to 0%). Purchasers bear the issuer and guarantor credit risk, have no shareholder rights in the underlier, and face tax‑treatment uncertainty.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering capped, buffered, non‑interest notes linked to the common stock of Roper Technologies, Inc.. The notes reference an initial index stock price of $346.72, trade date March 25, 2026, determination date September 25, 2028 and stated maturity September 28, 2028. Each $1,000 face amount pays at maturity based on the index stock return with a 125% upside participation capped at a $1,660 maximum settlement, a 10% buffer (buffer price = 90% of initial price) and downside exposure below the buffer. The estimated value at pricing was approximately $962 per $1,000. The prospectus highlights credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., limited anti‑dilution protection, potential market‑making conflicts, and limited secondary market liquidity.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, non‑interest bearing notes linked to the S&P 500 Index. The notes pay at maturity based on the arithmetic average of the index on ten averaging dates; the initial underlier level is 6,506.48 (set March 20, 2026). Investors receive the face amount if the final averaged level is ≥90% of the initial level; they participate at 150% on gains up to a $1,145 maximum per $1,000 face amount. If the final level is below 90%, losses are dollar‑for‑dollar below the buffer, exposing investors to substantial principal loss. Trade date: March 25, 2026; original issue date: March 30, 2026. Aggregate face amount offered is $2,574,000.

GS Finance Corp. is offering autocallable, buffered S&P 500® index-linked notes due March 28, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have a call observation date of April 1, 2027 and will be automatically redeemed at $1,100 per $1,000 face amount if the S&P 500 closing level on that date is >= 110% of the initial level 6,591.90 (trade date March 25, 2026). If not called, maturity payoffs depend on index performance: 170% upside participation if the final level is above the initial level; full principal returned if final level declines up to 10%; losses accrue at a buffer rate of ~111.11% for declines beyond 10%, potentially causing total loss. The estimated value at pricing was approximately $990 per $1,000 face amount.

The Goldman Sachs Group, Inc. is issuing callable fixed rate notes due January 17, 2030 with a stated interest rate of 5.00% per annum from and including the original issue date (expected April 17, 2026) to but excluding maturity.

Interest is payable each April 17 and October 17 and at maturity, with the first payment expected on October 17, 2026. The issuer may redeem the notes in whole (but not in part) on quarterly redemption dates on or after October 17, 2026, at 100% of principal plus accrued interest, with at least five business days’ notice. The initial offering price will vary for certain investors and the underwriters may sell notes at varying prices; purchasers who commit before the issuer’s earnings release (expected on April 13, 2026) may withdraw their orders before the trade date.

GS Finance Corp. is offering EURO STOXX 50® Index-linked Notes due 2029, with payment at maturity tied to the EURO STOXX 50 Index and fully guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, pays no interest, and will settle in cash at maturity.

If the final index level exceeds the initial level, holders receive $1,000 plus the index return on each $1,000 face amount, capped at a maximum settlement amount of $1,510. If the final index level is equal to or below the initial level, holders receive the face amount only. Trade date and original issue date are set in late March/early April 2026, with a stated maturity in April 2029; key terms will be finalized on the trade date.

GS Finance Corp. offers principal‑at‑risk Digital Equity‑Linked Notes due September 15, 2031 linked to the common stock of Blackstone Inc.. Each note has a $1,000 face amount, does not pay interest, and pays at maturity either a capped $2,000 maximum settlement or an amount equal to the face amount multiplied by the underlier return. The initial underlier level is $109.63 (as of March 26, 2026), the trigger buffer level is 60% of that level, and the determination date is September 10, 2031. If the final underlier level is below the trigger buffer level, holders lose pro rata principal and could lose their entire investment. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to the issuer and guarantor credit risk and to underwriting/structuring fees included in the offering price.

GS Finance Corp. is offering structured, cash‑settled notes tied to the Russell 2000® Index with an aggregate face amount of $3,244,000. The notes pay no interest, carry a 125% upside participation rate and a trigger buffer level of 85%. If the index on the call observation date (March 25, 2027) is greater than or equal to the initial level, the notes will be automatically called and pay $1,149 per $1,000 on the call payment date. If not called, maturity is scheduled for April 2, 2029 (determination date March 26, 2029) and the cash payoff depends on final index performance: participation in gains above the initial level, principal preserved down to the 85% buffer, and full downside exposure below the buffer (you could lose your entire investment). The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc.. Original issue price equals face amount; underwriting discount is 3.4%, net proceeds 96.6%.

The offering is a cash-settled, principal-at-risk structured note issued by GS Finance Corp. and fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® Futures Excess Return Index, pay no interest, and mature on September 30, 2030.

At maturity each $1,000 face amount will pay: (1) $1,000 + ($1,000 × 180.5% × underlier return) if the final underlier level is above the initial level; (2) $1,000 if the final level is between 80% and 100% of the initial level (the buffer); or (3) a reduced cash amount if the final level is below 80%, producing losses pro rata (buffer rate 100%). Trade date: March 25, 2026; original issue date: March 30, 2026. Aggregate face amount shown: $1,415,000. The original issue price is 100% of face with a 0.7% underwriting discount and net proceeds of 99.3%.

GS Finance Corp. is offering capped, principal-at-risk notes due April 12, 2027, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount returns either a maximum settlement of $1,160 if the final basket level is >= 80% of the initial level or a reduced cash amount tied to basket performance if it falls below 80%.

The notes are linked to an equally-weighted basket of six stocks with an initial basket level of 100 (initial prices set March 24, 2026). The determination date is April 7, 2027. Original issue price is 100% with an underwriting discount of 1% and net proceeds of 99%. The estimated value on the trade date is approximately $965 per $1,000 face amount.

GS Finance Corp. is offering $2,550,000 aggregate face amount of Trigger Autocallable GEARS due 2029, guaranteed by The Goldman Sachs Group, Inc. The securities are unsecured notes linked to the common stock of SLB N.V. (SLB UN) with a face denomination of $10 per security.

The securities include an automatic call on the call observation date of April 1, 2027 (payment on April 6, 2027) if the underlying closing price is at or above the autocall barrier (100% of the initial price). If not called, the determination date is March 26, 2029 and the stated maturity is March 29, 2029. Key economic terms: initial index stock price $51.89, upside gearing 1.80, downside threshold 60% of initial price, and call return 20%.

These securities do not pay coupons, have an estimated value of approximately $9.59 per $10 face amount on the trade date, and expose holders to both the market performance of the underlying stock and the credit risk of GS Finance Corp. and Goldman Sachs. The original issue price is 100% of face amount with a 2.50% underwriting discount; minimum purchase is $1,000.

The issuer GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable structured notes linked to four stocks: an ADS of Taiwan Semiconductor Manufacturing Company Limited (5 underlying shares), NVIDIA, Meta Platforms and AMD. The notes mature on April 1, 2031 but are subject to automatic redemption on observation dates beginning in March 2027. Coupons are paid monthly and are either a $8.50 maximum or a $0.209 minimum per $1,000 face amount depending on whether each index stock is at or above 80% of its initial price on observation dates. Trade date is March 25, 2026; original issue date is March 30, 2026; issue price 100% of face amount with an underwriting discount of 3.75% and net proceeds of 96.25%. The estimated value at pricing was approximately $951 per $1,000 face amount.

GS Finance Corp. offers Autocallable Buffered Nasdaq-100 Index®-Linked Notes due March 28, 2031, guaranteed by The Goldman Sachs Group, Inc.

The issuance has an aggregate face amount of $961,000 on the original issue date with an original issue price of 100% of face amount. Notes pay no interest, may be automatically called on the call observation date (April 1, 2027) if the Nasdaq-100 closing level is ≥110% of the initial level, producing a capped cash payment of $1,100 per $1,000 face amount. If not called, payoff at maturity depends on the index return from the trade date (March 25, 2026) to the determination date (March 25, 2031), with 169% upside participation, a 10% buffer (losses below 90% of initial level are amplified by ~111.11%), and an estimated initial value of approximately $985 per $1,000 face amount.

GS Finance Corp. is offering non-interest index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes mature on April 3, 2031 and are linked to the lesser performing of the MSCI EAFE Index and the STOXX® Europe 600 Index measured from the trade date March 31, 2026 to the determination date March 31, 2031. If both indices finish at or above their initial levels, holders receive principal plus 225% of the lesser index return. If either index finishes between 70% and 100% of its initial level, holders receive the face amount. If the lesser performing index finishes below 70% of its initial level, holders suffer a principal loss equal to the lesser performing index return times the face amount. The pricing supplement states an estimated value of $885–$925 per $1,000 face amount at the trade date and an original issue price of $1,000 per $1,000 face amount.

GS Finance Corp. is offering leveraged buffered notes linked to the MSCI EAFE Index, due in 2029 and fully guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, a 125% upside participation rate, a 25% buffer (buffer level 75% of the initial level) and a capped payout with a maximum settlement amount of at least $1,382.50. The trade date is April 2, 2026, original issue date April 8, 2026, determination date April 3, 2029, and stated maturity April 6, 2029. The notes pay no interest, are subject to the issuer and guarantor credit risk, and expose holders to principal loss if the final index level falls below the buffer level. Original issue price is 100% of face with an underwriting discount of 1.8% (net proceeds 98.2%).

GS Finance Corp. offers $961,000 aggregate face amount of Digital iShares® Semiconductor ETF-Linked Notes due April 29, 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and provide a cash settlement at maturity per $1,000 face amount that is linked to the iShares Semiconductor ETF (SOXX) performance from the trade date March 25, 2026 to the determination date April 26, 2027. If the final ETF level is ≥60% of the initial level of $345.25, holders receive a capped $1,114 per $1,000 face amount. If the final ETF level declines by more than 40%, the payment equals $1,000 plus $1,000 times the ETF return, which could result in a total loss of principal. The estimated value at pricing was approximately $967 per $1,000 face amount and the original issue price was 100% with an underwriting discount of 2.225%.

The Goldman Sachs Group, Inc. proposes a new issue of callable fixed rate notes bearing interest at 5.125% per annum, with an original issue date expected to be April 17, 2026 and a stated maturity date expected to be March 31, 2033.

Interest is payable semiannually on expected payment dates of April 17 and October 17, beginning October 17, 2026. The notes are callable in whole, not in part, on each expected quarterly redemption date on or after October 17, 2027, at par plus accrued interest. The offering will be distributed by Goldman Sachs & Co. LLC and InspereX LLC; purchasers who commit before the issuer’s earnings release (expected April 13, 2026) may withdraw orders prior to the trade date. The issuer may terminate the issuance if it determines there has been a significant adverse movement in its credit spread prior to the trade date.

GS Finance Corp. is offering structured, non‑interest bearing callable notes with an initial aggregate face amount of $500,000. The notes mature on April 1, 2031 but will be automatically called on the call observation date (March 27, 2028) if each reference stock closes at or above 80% of its initial price, in which case each $1,000 face amount pays $1,200 on the call payment date (April 3, 2028). If not called, the cash settlement at maturity is tied to the lesser performing index stock (GOOG, META, NVDA): if every final index stock price exceeds its initial price the holder receives $1,000 plus 1.25 times the lesser performing stock return; if any final price is equal to or less than its initial price, the holder receives $1,000.

The notes carried an estimated value at pricing of approximately $942 per $1,000 face amount and were sold at an original issue price of 100% with a 4% underwriting discount (net proceeds 96% of face). The notes are unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc.; payments depend on issuer/guarantor creditworthiness and calculation‑agent determinations by Goldman Sachs & Co. LLC.

GS Finance Corp. is offering structured notes with an $7,039,000 aggregate face amount linked to the S&P 500® Futures Excess Return Index.

The notes pay no interest and return at maturity depends on the underlier from the trade date March 25, 2026 to the determination date February 25, 2031. The notes feature an upside participation rate of 190%, a buffer level equal to 80% of the initial underlier (a 20% buffer) and a buffer rate of 100%. If the final underlier exceeds the initial level, holders receive the upside participation times the underlier return; if the final level is at or above the buffer they receive the face amount; if it is below the buffer holders absorb losses pro rata and could lose a substantial portion of principal. Payments are cash-settled and are subject to the issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured, cash-settled notes linked to the S&P 500® Index with a trade date of March 25, 2026, original issue date March 30, 2026, a determination date of March 25, 2030, and a stated maturity of March 28, 2030. The offering aggregates $29,756,000 of face amount and is issued at 100% of face amount with a 0.5% underwriting discount.

Payment at maturity depends on the underlier performance versus the initial level of 6,591.90. If the final level is above the initial level, holders receive principal plus the underlier return multiplied by a 120% upside participation rate. If the final level is between 90% of initial and the initial level, holders receive the face amount. If the final level is below 90% of initial (the "trigger buffer level"), holders suffer losses equal to the underlier return applied to the face amount and could lose their entire investment. The notes pay no interest and are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering fixed‑coupon, ETF‑linked notes due July 31, 2028. The notes pay a monthly coupon of $6.667 per $1,000 face amount (about 8% per annum) from April 2026 through maturity. Principal at maturity (in addition to the final coupon) depends on the lesser performing of two ETFs—State Street Consumer Discretionary Select Sector SPDR ETF (XLY) and State Street SPDR S&P Retail ETF (XRT)—measured from March 24, 2026 to the determination date (scheduled July 26, 2028). If each ETF’s final level is at least 60% of its initial level, you receive $1,000 per note; otherwise you receive $1,000 plus (the lesser performing ETF return × $1,000), which can result in receiving substantially less than 60% of face amount. The estimated value at pricing was approximately $989 per $1,000 face amount; issue price was 100%. Aggregate original face amount was $2,501,000. Payments are subject to the issuer’s and guarantor’s credit risk.

GS Finance Corp. is offering autocallable buffered S&P 500® index-linked notes due March 28, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note and an aggregate original face amount of $814,000. They pay no interest and may be automatically called on April 1, 2027 if the S&P 500 closing level is ≥105% of the initial level (initial level: 6,591.90), producing a capped cash payment of $1,100 per $1,000 face amount. If not called, maturity payoff depends on index performance: upside participation is 192.5%, a 10% buffer protects losses down to 90% of the initial level, and below that the holder suffers a leveraged loss (buffer rate ≈ 111.11%), which can result in total loss of principal. The estimated value at pricing was ≈ $988 per $1,000 face, below the issue price (100%).

GS Finance Corp. offers $10,617,000 of callable, contingent-coupon notes due March 29, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly coupons only if the SPDR® Gold Trust (GLD) closes at or above 87.5% of the initial level of $404.13 on observation dates, and are redeemable at issuer option on coupon payment dates from September 2026 through December 2027.

If not redeemed, principal at maturity either returns $1,000 (if final GLD ≥ 87.5% of initial) or suffers a loss equal to $1,000 × 114.29% × (ETF return + 12.5%), meaning investors can lose most or all of their investment. The estimated value on the trade date was approximately $988 per $1,000 face amount. Investors remain exposed to issuer and guarantor credit risk.

GS Finance Corp. offers $2,000,000 aggregate face amount of autocallable, buffered fixed‑coupon S&P 500® Index‑linked notes due March 28, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes pay a fixed coupon of $33 per $1,000 semi‑annually (3.3% semi‑annual, up to 6.6% per annum), are subject to automatic redemption if the S&P 500 closing level on any call observation date is greater than or equal to the initial level of 6,591.90, and offer a 20% buffer (buffer rate 125%) against declines measured to the determination date of March 25, 2030. The estimated value on the trade date was approximately $994 per $1,000 face amount.

GS Finance Corp. offers Equity Linked Medium-Term Notes, Series F — market‑linked, auto‑callable securities linked to the common stock of Blackstone Inc. with a face amount of $1,000 per security and aggregate original offering principal of $500,000. The pricing date is March 25, 2026 and the original issue date is March 30, 2026.

The securities pay no interest, carry 1‑for‑1 downside exposure to the underlying if not called (the downside threshold is 60.00% of the starting price), and may result in a loss of up to 100.00% of face amount at maturity. Automatic calls occur if the stock closing price on a call date meets or exceeds the call threshold (first 24 call dates: 90.00% of the starting price; final call date: 60.00%), and call premiums increase to 138.00% of face amount on the final calculation day.

GS Finance Corp. is offering $5,444,900 aggregate face amount of Airbag In-Digital Securities linked to the S&P 500® Index, due June 30, 2027, guaranteed by The Goldman Sachs Group, Inc.

The securities pay a digital return of 13.40% at maturity if the final index level is greater than or equal to the downside threshold (90.00% of the initial level). If the final index level is below that threshold, holders lose approximately 1.1111% of face amount for each 1.00% decline beyond the 10.00% threshold and could lose their entire investment. The issue price is 100% of face amount and the estimated model value at pricing was approximately $9.90 per $10 face amount.

GS Finance Corp. is offering Performance Leveraged Upside Securities (PLUS) linked to the EURO STOXX 50® Index, expected to price on or about April 16, 2026 with an original issue date of April 21, 2026 and a stated maturity of August 4, 2027.

The PLUS provide 300% leveraged upside of any positive index return up to a maximum payment of $1,272.50 per $1,000 principal. If the index declines, investors lose on a 1:1 basis and may lose their entire principal. Estimated model value at pricing is $910–$970 per PLUS. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc., and the offering carries a 2.25% underwriting discount.