Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. is offering medium-term, cash-settled notes linked to the common stock of ServiceNow, Inc. The issuance has an aggregate face amount of $1,001,000 and a face amount per note of $1,000. The notes pay no interest and mature on September 22, 2028 (determination date September 19, 2028), with the cash payment at maturity tied to the underlier return measured from March 18, 2026 to the determination date.

Key economic terms: an upside participation rate of 200%, a maximum settlement amount of $1,947 per $1,000 face amount, and a trigger buffer level equal to 60% of the initial underlier level. If the final underlier level is at or above the trigger buffer level but not higher than the initial level, holders receive principal. If it declines below the trigger buffer level, losses are pro rata by the underlier decline and investors could lose their entire investment.

GS Finance Corp. is offering non-interest-bearing, auto-callable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference Robinhood Class A, AppLovin Class A and Oracle common stock with a stated maturity of March 26, 2029 and multiple call observation dates beginning March 19, 2027.

If the notes are not called, the cash payoff at maturity is based on the lesser performing index stock measured from specified initial prices set on March 19, 2026. A final index stock at or above 50% of its initial price yields $2,408.5 per $1,000 face amount; if below 50%, the payoff equals $1,000 plus the lesser performing index stock return times $1,000, which can result in losses up to the full investment. The estimated model value on the trade date was approximately $969 per $1,000 face amount and the original issue price is 100% of face.

GS Finance Corp. offers leveraged, buffered S&P 500® Futures Excess Return Index‑linked notes due April 3, 2031, guaranteed by The Goldman Sachs Group, Inc.

The notes (face amount per note $1,000) pay no interest and provide a structured payoff: an upside participation rate of 182% if the final underlier level is at or above the initial level; a positive payout equal to the absolute underlier return if the final level declines up to the buffer level of 80% (buffer amount 20%); and a loss that increases below the buffer level. The underlier is the S&P 500® Futures Excess Return Index, which tracks E‑mini S&P 500 futures rather than the cash index. Terms such as the initial underlier level, aggregate face amount and pricing will be set on the trade date and certain dates and levels are subject to adjustment.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering non‑interest-bearing notes linked to three underliers. The notes reference the S&P 500® Index, the Russell 2000® Index and the State Street® Technology Select Sector SPDR® ETF (XLK). The notes have an expected trade date of March 26, 2026, an original issue date of March 31, 2026 and an expected stated maturity date of April 2, 2031. They are subject to automatic redemption on scheduled call observation dates beginning March 29, 2027 if each underlier is at or above its initial level; call payments are capped by specified call premium amounts (first call premium 13%, increasing over time to 58.5%).

At maturity, if not called, payoff depends on the lesser performing underlier: a capped upside payment of $1,650 per $1,000 face amount when all underliers finish at or above initial levels; return of $1,000 if lesser performing underlier is between 70% and 100% of initial; otherwise a downside payoff equal to $1,000 plus the lesser performing underlier return times $1,000, potentially resulting in a total loss of principal. The pricing supplement states an estimated value on the trade date of $885–$925 per $1,000 face amount.

GS Finance Corp. is offering $1,000-face Autocallable Contingent Coupon Equity-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Amazon.com, Inc. and will be issued at 100% of face amount with a 2% underwriting discount (net proceeds 98%).

Coupons are contingent quarterly payments of at least 2.625% per quarter (up to 10.5% per annum) if the underlier closes at or above 60% of the initial level on observation dates. The notes will be automatically called if the underlier closes at or above the initial level on any call observation date. At maturity, if not called, cash settlement equals principal if the final underlier level is greater than or equal to the 60% trigger buffer; if the final underlier level is below that buffer, the payment equals $1,000 plus $1,000 times the underlier return, and you could lose your entire investment. CUSIP: 40058YPA4.

GS Finance Corp. offers non-interest, callable medium-term notes linked to an equally weighted basket of six common stocks. The trade date is expected to be March 26, 2026 and the stated maturity is expected to be April 2, 2031, with automatic call observation dates beginning March 29, 2027. Payoff terms: if the final basket level is greater than or equal to the initial level (100), maturity payoff is capped at $1,650 per $1,000 face amount; if the final level is between 60% and 100% you receive $1,000; if below 60% you receive $1,000 plus $1,000 times the basket return (which can result in substantial loss). The basket stocks are Delta, Expedia, Old Dominion Freight Line, Royal Caribbean, Boeing and United Airlines. The estimated value on the trade date is between $885 and $925 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc..

GS Finance Corp. is offering structured notes guaranteed by The Goldman Sachs Group, Inc. linked to the S&P 500® Index with an aggregate face amount of $2,305,000. The notes pay no interest and mature in March 2029.

For each $1,000 face amount, the cash settlement at maturity equals: (1) if the final index level > initial level, $1,000 + $1,000×the 300% upside participation rate×underlier return, capped at a $1,335.10 maximum; (2) if the final level is between 75% and 100% of the initial level, $1,000; or (3) if below 75%, a proportional loss of principal (you could lose your entire investment). The trade date is March 19, 2026, original issue date March 24, 2026, determination date March 19, 2029, and stated maturity March 22, 2029. The original issue price is 100% of face amount, underwriting discount 2%, net proceeds 98%, and Goldman Sachs & Co. LLC is calculation agent.

GS Finance Corp. offers autocallable contingent coupon index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly coupons of $32.25 per $1,000 (3.225% quarterly) only if each index stays at or above 70% of its initial level on every trading day during the quarterly observation period. The notes may be automatically called on specified observation end dates commencing in September 2026 if each index is at or above its initial level set on March 20, 2026. At maturity (expected March 23, 2029), if not called, the cash payment depends on the performance of the lesser performing index with a trigger buffer at 60% of initial levels (a -40% return). The estimated value at pricing is $925–$955 per $1,000 face amount. Payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering callable, 10-year, CMT rate‑linked range accrual notes due March 26, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay fixed interest at 6.55% per annum for the first six quarterly payments, then quarterly interest determined by the proportion of reference dates on which the 10‑year CMT rate is ≤ 4.50% (maximum factor 6.55%) or > 4.50% (minimum factor 1.00%). The issuer may redeem the notes at par on any quarterly interest payment date on or after September 26, 2027. Interest is paid quarterly (expected 26th of March, June, September, December), using 30/360 (ISDA). The estimated value at pricing is between $925 and $965 per $1,000 face amount.

GS Finance Corp. offers Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500 Index with an initial underlier level of 6,506.48 set on March 20, 2026 and a 10% buffer (buffer level = 90% of the initial level). On the stated maturity date of April 8, 2027, holders receive either the $1,105 maximum settlement amount if the final underlier level is at or above the buffer level, or a reduced cash payment that loses approximately 1.1111% of face amount for every 1% decline below the buffer level; investors could lose their entire investment.

The notes pay no interest, are issued at 100% of face amount with a 1% underwriting discount (net proceeds 99%), and are subject to issuer and guarantor credit risk, limited secondary-market liquidity, tax uncertainty and other structural risks described herein.

GS Finance Corp. is offering $1,729,000 in structured, autocallable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the Dow Jones Industrial Average, the Russell 2000 and the S&P 500, pay no interest, and have an original issue price of 100% with a 3.975% underwriting discount.

They mature on March 26, 2031 (determination date March 19, 2031) unless automatically called on scheduled semi-annual observation dates. If called, investors receive principal plus a call premium (ranging from 11% to 49.5% depending on the call date). At maturity, if not called, payoff depends on the lesser performing underlier: full upside participation is 100%; a final level below the trigger buffer (70%) produces a principal loss equal to the lesser performing underlier return, potentially resulting in a total loss of invested principal.

GS Finance Corp. is offering buffered, VanEck Gold Miners ETF-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the VanEck Gold Miners ETF (initial level $80.12 set on March 20, 2026) and mature roughly 13 months after the trade date. If the final ETF level is ≥85% of the initial level, holders receive a capped maximum settlement amount of $1,217 per $1,000 face amount. If the final ETF level is below that 85% threshold, holders suffer losses at a rate of approximately 1.1765% of face amount for each 1% decline below the 85% threshold, and could lose their entire investment. The prospectus discloses an estimated value at pricing of $945–$975 per $1,000 face amount and emphasizes issuer and guarantor credit risk.

GS Finance Corp. offers non-interest notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER via a Goldman Sachs pricing supplement. The notes have an expected trade date of April 8, 2026, an original issue date of April 13, 2026, and a stated maturity date of April 15, 2031. They are automatically called beginning on call observation dates in January 2027 if the underlier is ≥ 90% of the initial level, producing a cash redemption equal to the $1,000 face amount plus a date-specific call premium. If not called, maturity payoffs depend on the final underlier level: a final level ≥ 90% yields the maximum settlement amount of $2,150.02 per $1,000 face amount; declines up to 40% from the initial level return principal; declines beyond 40% produce proportional losses, including potential total loss.

The underlier applies up to 500% leverage subject to a 100% cap on daily leverage changes and a daily per‑annum 6.0% decrement, which reduces index performance. Estimated value at pricing is between $885 and $935 per $1,000 face amount versus an original issue price at 100% of face. Payments are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., exposing holders to issuer and guarantor credit risk. Investors should review index methodology, the leverage and decrement mechanics, call schedule and credit risks before investing.

GS Finance Corp. is offering leveraged buffered S&P 500® index-linked notes due 2027 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash amount at maturity tied to the arithmetic average of the S&P 500 on 10 averaging dates between April 6, 2027 and April 19, 2027.

Key terms include a $1,145 maximum settlement amount per $1,000 face amount, an upside participation rate of 150%, a buffer level at 90% of the initial underlier level ($6,506.48 set on March 20, 2026), and a buffer amount of 10%. If the final underlier level is below the buffer level, investors can lose a substantial portion of principal; if above, upside is capped by the maximum settlement amount.

GS Finance Corp. is offering autocallable contingent coupon index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the Russell 2000®, S&P 500® and Nasdaq-100® and have an expected stated maturity of September 28, 2028. Coupons of $35 per $1,000 (a 3.5% quarterly, up to 14% annually) are payable only if each index stays at or above 70% of its initial level every trading day during a quarterly observation period. The notes are automatically called if, on any call observation date beginning in June 2026, each index closes at or above its initial level; an automatic call returns principal plus any coupon then due. At maturity (if not called), principal is protected only if each index is >= 60% of its initial level; otherwise the cash settlement equals $1,000 plus the lesser performing index return times $1,000, which can result in substantial loss, including loss of principal. The pricing supplement states the estimated model value on the trade date is between $925 and $955 per $1,000, which is below the original issue price. Payments remain subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Trigger Autocallable Contingent Yield Notes guaranteed by The Goldman Sachs Group, Inc. linked to the lesser performing of the S&P 500®, Russell 2000® and Nasdaq-100®. The trade date is April 2, 2026 with an original issue date of April 7, 2026 and a stated maturity of April 5, 2029.

The notes pay quarterly contingent coupons (set on the trade date) between $0.2625 and $0.2875 per $10 face amount if each index is at or above a coupon barrier on observation dates. Coupon barriers and downside thresholds equal 70.00% of each index’s initial level. Beginning July 2, 2026, the notes will be automatically called if each index closes at or above its initial level on any call observation date; an auto-call returns the face amount plus the contingent coupon then due. If not called, final principal repayment is contingent: if any index is below its downside threshold at maturity, repayment is reduced pro rata to the lesser performing index return and you could lose up to your entire investment. The pricing supplement states an estimated value of between $9.55 and $9.85 per $10 face amount at pricing. Original issue price is 100.00% with an underwriting discount of 2.00%.

GS Finance Corp. offers $1,000 face amount Autocallable Notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay $1,240 per $1,000 if the index on the March 30, 2027 call observation date is greater than or equal to the initial index level; otherwise maturity payoff depends on index performance on the March 25, 2033 determination date with an upside participation rate of 300%.

The index is a daily‑rebalanced, momentum‑driven composite that can allocate substantially to hypothetical cash positions and charges a 0.65% per annum deduction; estimated trade‑date value is $850 to $880 per $1,000 face amount. The notes are senior debt of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and bear no periodic interest.

GS Finance Corp. is offering leveraged, cash‑settled notes due March 27, 2031 that are fully guaranteed by The Goldman Sachs Group, Inc.. Each note has a face amount of $1,000 and pays no interest; the maturity payment is tied to the S&P 500® Futures Excess Return Index.

The notes provide an upside participation rate of 185% if the final index level exceeds the initial level. If the final level is between the initial level and 50% of the initial level (the trigger buffer), investors receive the face amount. If the final level is below 50% of the initial level, investors suffer a pro rata loss and could lose their entire investment.

GS Finance Corp. is offering autocallable contingent coupon index-linked notes due March 29, 2030 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.. The notes link to the Nasdaq-100, Russell 2000 and EURO STOXX 50 and pay a contingent monthly coupon when each underlier meets a 70% trigger.

Each $1,000 face amount will pay a contingent coupon of $11.792 monthly (up to approximately 14.15% per annum) when coupon triggers are met and will be automatically called early if, on a call observation date, each underlier is at or above its initial level. If not called, maturity payment is based on the lesser performing underlier and could result in a total loss of principal.

GS Finance Corp. offers Digital S&P 500® Index-Linked Notes due, guaranteed by The Goldman Sachs Group, Inc. The notes are expected to mature roughly 90–93 months after the trade date and pay no interest. If the final S&P 500 level is ≥ the trigger buffer (85% of the initial level), holders receive a capped maximum settlement expected between $1,666.70 and $1,782.20 per $1,000 face amount. If the final level is below the 85% trigger buffer, the cash payout equals $1,000 plus $1,000 times the underlier return, exposing holders to up to 100% principal loss. Terms (trade date, initial level, final determination date, and exact pricing) will be set on the trade date and are subject to adjustment as described in the general terms supplement.

GS Finance Corp. is offering $Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc.

Each $1,000 note pays no interest and provides either the maximum settlement amount of $1,087.50 if the final underlier level is ≥ the buffer level (85% of the initial level), or a downside exposure equal to approximately 1.1765% of face per 1% decline below the buffer. The initial underlier level is 6,606.49 (set March 19, 2026); trade date is March 20, 2026, original issue date March 25, 2026, determination date April 2, 2027, and stated maturity date April 7, 2027 (subject to adjustment).

GS Finance Corp. is offering Trigger Autocallable Contingent Yield Notes due 2031 linked to the lesser performing of the Russell 2000® and EURO STOXX 50® indices. The aggregate face amount on the original issue date is $12,333,950. Quarterly contingent coupons of $0.2325 per $10 face amount (up to 9.30% per annum) are payable only if both indices meet coupon barriers on observation dates. Notes can be automatically called beginning September 2026 if both indices close at or above their initial levels, in which case holders receive principal plus the contingent coupon then due. At maturity, principal repayment is contingent: if the final level of either index is below its downside threshold (60% of initial), holders suffer a loss proportional to the lesser performing index return. Payments are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering leveraged S&P MidCap 400® index-linked notes due March 31, 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and settle in cash at maturity based on the S&P MidCap 400 performance.

For each $1,000 face amount, if the final underlier level exceeds the initial level the payout equals $1,000 + ($1,000 × 129% × underlier return). If the final level is between 80% and 100% of the initial level the investor receives $1,000. If the final level is below 80%, investors lose 1% of face amount for every 1% decline; loss of principal is possible. Trade date: March 31, 2026; original issue date: April 6, 2026; determination date: March 26, 2031.

The pricing supplement describes Contingent Income Buffered Auto-Callable Securities issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., linked to Freeport-McMoRan Inc. (initial share price $53.62). The notes pay a contingent monthly coupon if the underlying closes at or above a buffer price (70% of the initial share price) on observation dates, are automatically called if the underlying closes at or above the initial share price on any call observation date, and at maturity expose investors to downside beyond the buffer with a downside factor of approximately 1.4286.

GS Finance Corp. offers $ Buffered S&P 500® Index-Linked Notes due March 29, 2028. For each $1,000 face amount, payment at maturity depends on the S&P 500 performance from the trade date to the determination date. The notes: have a 15% buffer (buffer level = 85% of initial level), pay the absolute underlier return if the final level declines up to the buffer, and suffer losses (approximately 1.1765% per 1% decline past the buffer) if the final level is below the buffer. The notes have a capped upside (maximum settlement $1,267.50 per $1,000 face), do not bear interest, and are fully guaranteed by The Goldman Sachs Group, Inc. Trade date is March 24, 2026, original issue date is March 27, 2026, and determination date is March 24, 2028. Original issue price is 100% of face amount; underwriting discount 1.5%, net proceeds 98.5%. Payment terms and dates are subject to adjustment as described in the general terms supplement.

GS Finance Corp. offers Market Linked Securities that are auto-callable and linked to the lowest performing of NVIDIA, AMD and Tesla. Each security has a $1,000 face amount and original offering price of $1,000. The pricing date was March 18, 2026, the call date is March 23, 2027 and the stated maturity date is March 22, 2029. The securities have no periodic interest, are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and have an estimated value at pricing of approximately $964 per $1,000 face amount. If automatically called, holders receive the face amount plus a 50.00% call premium ($500). If not called, maturity payoffs depend solely on the performance of the lowest performing underlying stock: upside participation is 438.00%, a buffer against losses exists up to a 40% decline, and losses may be up to 100% of face amount.

GS Finance Corp. prices equity-linked, auto-callable medium-term notes linked to Blackstone Inc. The securities have a $1,000 face amount and original offering price of $1,000 per security; the estimated model value at pricing is between $885 and $915 per $1,000 face amount. The notes pay no interest, may be automatically called on scheduled call dates if the underlying stock closes at or above a call threshold (90.00% of the starting price for the first 24 call dates; 60.00% for the final call date), and, if not called, provide 1-to-1 downside exposure with a downside threshold of 60.00% of the starting price. Investors may lose up to 100.00% of principal. Underwriting discounts are up to $2.00 per $1,000 and proceeds to issuer are approximately $998.00 per security. All payments are subject to issuer and guarantor credit risk; terms and call premiums are subject to determination on the pricing date and postponement for market disruption.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due March 28, 2028, fully guaranteed by The Goldman Sachs Group, Inc.. The notes reference the common stock of NVIDIA Corporation (ticker: NVDA) and pay a contingent monthly coupon of 0.9667% when the underlier is at or above a 50% coupon trigger on each observation date.

The notes include an automatic call if the underlier is at or above the initial level on any call observation date; in that event holders receive principal plus any coupon then due. If not called, maturity payoff is cash based on final underlier performance with a trigger buffer at 50% of the initial level. If the final underlier level is below that buffer, investors may lose up to their entire investment. Trade date is March 23, 2026 and original issue date is March 26, 2026.

GS Finance Corp. offers S&P 500®-linked medium-term notes, fully guaranteed by The Goldman Sachs Group, Inc. The notes (aggregate face amount $750,000) pay no interest and pay at maturity either the face amount or a capped upside tied to the S&P 500® Index.

For each $1,000 face amount, the cash settlement at the stated maturity (March 23, 2028) will equal $1,000 plus the underlier return if the final underlier level exceeds the initial level, subject to a $1,135 maximum settlement amount. If the final underlier level is equal to or below the initial level (initial level 6,624.70), you will receive the face amount. The notes were priced on March 18, 2026 with an original issue price of 100% and an underwriting discount of 0.8%. The issuer has determined a comparable yield of 4.425% and a projected payment at maturity of $1,092.93 for tax accrual purposes.

Key risks: upside is capped at the maximum settlement amount; investors bear issuer/guarantor credit risk; the notes may have limited liquidity and no periodic interest payments. Tax rules treat the notes as contingent payment debt instruments; accruals and withholding rules apply.

GS Finance Corp. offers Underlier-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return for each $1,000 face amount is either $1,000 (if any underlier return is zero or negative) or $1,000 plus the upside participation (130%) times the lesser performing underlier return, measured from the trade date March 25, 2026 to the determination date March 25, 2031, with stated maturity on March 28, 2031.

The underliers are the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF (EFA); the cash settlement is based solely on the lesser performing underlier. The notes are subject to issuer and guarantor credit risk, possible limited secondary-market liquidity, tax rules for contingent payment debt instruments, and foreign-market and currency risks described in the supplement.

GS Finance Corp. is offering $6,014,000 of Trigger Autocallable Contingent Yield Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a quarterly contingent coupon of $0.2065 per $10 (up to 8.26% pa) only if both the Russell 2000 and S&P 500 close at or above their coupon barriers on each observation date. The notes are linked to the least performing index; coupon barrier = 70% of initial index levels and downside threshold = 60%. Commencing September 2026, the notes will be automatically called if both indices close at or above their initial levels on any quarterly call observation date; on call payment you would receive face amount plus the contingent coupon then due. If not called, repayment at maturity depends on the lesser performing index return and could result in loss of principal. Estimated value at pricing was approximately $9.77 per $10; original issue price = 100% of face (underwriting discount 2.25%, net proceeds 97.75%). All payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured notes linked to the abrdn Platinum ETF Trust (PPLT) with quarterly conditional coupons and a stated maturity of March 15, 2028. Coupons (based on an initial ETF level of $197.62) pay up to $25 per $1,000 per quarter pro rata for scheduled trading days when the ETF closes within 80%–120% of the initial level. The final cash settlement depends on the ETF return from March 11, 2026 to March 10, 2028: if the final level exceeds 120% the investor receives participation at 110% of (ETF return minus 20%) capped at $1,880 per $1,000; if between 80% and 120% you receive principal; if below 80% you lose 1.25% of principal for each 1% decline below the buffer. The pricing supplement states an estimated value of approximately $906 per $1,000 on the trade date; the original issue price is 100%. Read the risk disclosures (credit risk of GS entities, market and tax uncertainties) before investing.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of Micron Technology, Inc. The trade date is March 26, 2026, original issue date March 31, 2026, and stated maturity date March 29, 2029.

The notes pay a contingent quarterly coupon only if the underlier's closing level on each coupon observation date is at least 60% of the initial underlier level; the coupon accrues in $62.50 increments per observation (cumulative as described). The notes are automatically called on a call payment date if the underlier is at or above the initial underlier level on the related call observation date, in which case holders receive $1,000 per $1,000 face amount plus any coupon then due.

If not called, settlement at maturity is cash-settled: if the final underlier level is at or above the trigger buffer level (60%), holders receive $1,000 per $1,000 face amount; if below, holders receive $1,000 + ($1,000 × underlier return), which can result in a loss of up to the full principal. These notes expose investors to underlier performance risk, market liquidity risk, model/valuation and dealer pricing spreads, and the credit risk of the issuer and guarantor.

GS Finance Corp. offers $18,026,000 in aggregate face amount of autocallable buffered notes linked to the Vanguard FTSE All-World ex-US ETF (VEU), due March 21, 2030. If the ETF closing level on the call observation date (March 19, 2027) is ≥ the initial level of $75.36, the notes will be automatically called and pay $1,135 per $1,000 face amount on the call payment date. If not called, maturity payoffs depend on the ETF return from the trade date (March 18, 2026) to the determination date (March 18, 2030): a positive ETF return yields 120% upside participation; declines up to 20% return principal; declines beyond 20% expose investors to amplified losses at a buffer rate of 125%. The estimated value at pricing was approximately $958 per $1,000 face amount.

GS Finance Corp. is offering principal‑protected‑style notes linked to the S&P 500® Index with cash settlement at maturity on March 23, 2028. Each $1,000 face‑amount note pays no interest and delivers a maturity cash amount that depends on the underlier return and a 15% buffer.

If the final underlier level is at or above the initial level, holders receive the underlier return up to a $1,210.30 maximum payoff per $1,000. If the final level is down but no more than 15%, holders receive the absolute value of the underlier loss as a positive return. If the final level declines by more than the 15% buffer, losses multiply by a buffer rate of approximately 117.65% and investors may lose their entire investment. The notes are issued by GS Finance Corp. and unconditionally guaranteed by The Goldman Sachs Group, Inc. Aggregate face amount is $4,073,000, original issue price 100%, underwriting discount 1.5%.

GS Finance Corp. is offering Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and reference the S&P 500 Index with an initial underlier level of 6,606.49 set on March 19, 2026. On the stated maturity date, holders receive for each $1,000 face amount either the maximum settlement amount of $1,106.50 if the final underlier level is greater than or equal to the buffer level (90% of the initial level), or a reduced cash payment calculated using a buffer amount of 10% and a buffer rate of approximately 111.11%. If the final underlier level is below the buffer level, investors lose approximately 1.1111% of principal for each 1% the underlier declines below the buffer and could lose their entire investment. Trade date and original issue date are set in March 2026, with the determination date on April 2, 2027 and stated maturity on April 7, 2027. The notes are capped; upside beyond the buffer threshold is limited to the stated maximum settlement amount.

The issuer, GS Finance Corp., is offering indexed notes due March 21, 2031 whose cash payment at maturity is tied to an unequally weighted basket (65% S&P 500® Futures Excess Return Index, 25% MSCI EAFE, 10% MSCI Emerging Markets) measured from the trade date to the determination date.

For each $1,000 face amount, if the final basket level is above the initial level (100) you receive the face amount plus $1,000 × 187% × basket return; if the final basket level is ≥ 80% and ≤ initial you receive the face amount; if below 80% you incur the full negative basket return and may lose up to your entire investment. The notes do not pay interest and are subject to issuer and guarantor credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering market-linked, auto-callable notes linked to an ADS of Alibaba Group Holding Limited due March 29, 2029. The securities pay a quarterly contingent coupon of at least $28.50 per $1,000 face amount (equivalent to 11.40% per annum) if the ADS closing price on a calculation day is at or above a coupon threshold equal to 60% of the starting price.

The notes are callable if the ADS closing price on any quarterly call date from June 2026 through December 2028 is greater than or equal to the starting price, in which case investors receive the face amount plus a final contingent coupon and any unpaid contingent coupons. If not called, principal at maturity depends on the ending price relative to a downside threshold equal to 60% of the starting price; if the ending price is below that threshold, investors may lose more than 40%, up to the entire principal. The original offering price is $1,000 with an estimated value at pricing between $925 and $955 per $1,000 face amount. Credit risk of the issuer and guarantor applies; these securities are unsecured and designed to be held to maturity.

GS Finance Corp. offers structured notes linked to NVIDIA, Apple and Tesla common stock under a preliminary prospectus supplement. The notes have an expected trade date of March 26, 2026, an expected original issue date of March 31, 2026 and an expected stated maturity date of March 29, 2029.

The notes pay monthly coupons of up to $12.50 per $1,000 face amount on coupon payment dates if each index stock meets a 60% coupon trigger; they are subject to an automatic-call feature commencing April 2027 if each index stock’s closing price is at or above its initial price. At maturity, if a trigger event (all final prices below initial prices) occurs, payment depends on the lesser performing stock and may result in substantial loss of principal.

GS Finance Corp. is offering Digital Equity-Linked Notes due September 30, 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Meta Platforms, Inc. (META) and pay no interest. For each $1,000 face amount, holders receive $1,220 if the final underlier level is greater than or equal to the trigger buffer level (70% of the initial level). If the final underlier level is below the trigger buffer, investors lose 1% of principal for each 1% decline below the initial level, potentially losing their entire investment. Key dates: trade date March 26, 2026, original issue date March 31, 2026, determination date September 27, 2027, stated maturity date September 30, 2027.

GS Finance Corp. is offering medium-term notes (aggregate face amount $19,658,000) with payments tied to the performance of the S&P 500® Index, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

The notes have an automatic call feature (call observation date March 19, 2027; call payment date March 24, 2027) that pays $1,128.20 per $1,000 if the underlier closes at or above the initial level. If not called, final cash at maturity (stated maturity date March 21, 2030) depends on underlier performance: an upside participation rate of 120%, a buffer level of 80%, and a buffer rate equal to 125%. The notes pay no interest and investors could lose their entire investment if the final underlier level is below the buffer level.

GS Finance Corp. offers Dow Jones Industrial Average Futures Excess Return Index‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes mature on March 23, 2029 (expected), reference E‑mini Dow ($5) futures performance from the trade date (expected March 20, 2026) to the determination date (expected March 20, 2029), and pay at maturity either the $1,000 face amount or $1,000 plus 95.1% of the positive underlier return per $1,000 face amount.

The pricing supplement discloses an estimated value range of $925 to $955 per $1,000 face amount on the trade date and warns that the original issue price exceeds that estimated value. The notes bear no interest, are unsecured obligations subject to issuer and guarantor credit risk, and may be affected by futures-specific risks such as negative roll yields and market disruption provisions.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable, principal-at-risk notes linked to the common stock of NVIDIA, Marvell and Micron. The notes pay a fixed monthly coupon of $14.584 per $1,000 face amount (1.4584% monthly, ~17.5% per annum) and mature on March 23, 2028, subject to automatic monthly calls if each index stock closes at or above its initial price on a call observation date.

If not called, the maturity payout depends on a trigger: if all three stocks close below their initial prices on the March 16, 2028 determination date, the cash settlement follows the performance of the lesser performing stock and can be significantly less than principal (potentially a total loss). The initial issue price is 100% of face; underwriting discount is 3.25%, net proceeds 96.75% of face; estimated model value at pricing was ~$957 per $1,000 face amount.

GS Finance Corp. is offering S&P 500®-linked principal-at-risk notes guaranteed by The Goldman Sachs Group, Inc. The notes have an aggregate face amount of $2,001,000 and pay no interest. For each $1,000 face amount, investors receive at maturity either a capped upside (125% participation, maximum $1,365), full principal if the final index level is within a 10% buffer (>=90% of initial level), or a proportional loss if the final level is more than 10% below the initial level. The initial index level is 6,716.09 (set March 17, 2026); the stated maturity date is September 21, 2028. Investors bear credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., receive cash settlement only, and may lose a substantial portion of principal.

GS Finance Corp. is offering structured notes, guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $1,304,000. The notes pay no interest and the cash settlement at maturity is linked to the lesser performing underlier of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF.

Key economic terms include an upside participation rate of 150%, a buffer level of 80%, a maximum settlement amount of $1,210 per $1,000 face amount, trade date March 18, 2026, and stated maturity September 23, 2027. If the lesser performing underlier finishes below its buffer, principal is lost pro rata; if it finishes between the buffer and initial level, investors receive principal; above initial levels investors participate up to the cap.

GS Finance Corp. is offering $5,100,000 aggregate face amount of Medium-Term Notes, Series F linked to the Nasdaq-100 Index® (auto-callable). The notes pay no interest, may be automatically called on March 23, 2027 for a 12.00% call premium, and mature on March 22, 2029.

If not called, the maturity payment equals the face amount plus 150% of any percentage increase in the underlier; if the ending level falls more than the 25% threshold you bear 1-to-1 downside risk and may lose up to 100% of the face amount. The estimated value at pricing was approximately $964 per $1,000 face amount.

GS Finance Corp. offers $500,000 aggregate face amount of autocallable contingent coupon index-linked notes due March 26, 2029, guaranteed by The Goldman Sachs Group, Inc.

The notes pay a monthly coupon of $7.209 per $1,000 face amount (0.7209% monthly, ~8.65% annualized) only if the S&P 500®, Russell 2000® and Nasdaq-100® closing levels on a coupon observation date are each at least 70% of their initial levels. The notes are automatically called on an observation date commencing in March 2027 if each index is at or above its initial level; called holders receive principal plus the coupon on the next payment date.

At maturity (if not called) the cash settlement depends on the lesser performing index versus its initial level, with a buffer at 80% of initial (a 20% buffer amount). The estimated value on the trade date is approximately $984 per $1,000 face amount; original issue price is 100% with an underwriting discount of 0.8% (net proceeds 99.2%).

GS Finance Corp. is offering Autocallable Equity‑Linked Notes due 2028 guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Advanced Micro Devices, Inc. and include an automatic call feature: if the underlier's closing level on the March 23, 2027 call observation date is greater than or equal to the initial underlier level, each $1,000 face amount will be called for $1,298.

If not called, the cash settlement at maturity on March 30, 2028 depends on the final underlier level: a 100% upside participation applies when the final level exceeds the initial level; a downside buffer is set at 80% of the initial level with a 100% buffer rate and 20% buffer amount. The notes do not bear interest and expose investors to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.; holders have no shareholder rights in the underlier.

GS Finance Corp. offers $ Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and provide a capped positive payoff of $1,087.70 per $1,000 face amount if the final S&P 500 level is at or above the buffer level (85% of the initial level). If the final level is below the buffer level, the notes decline at a rate of approximately 1.1765% of face amount for each 1% the index falls below the buffer, potentially resulting in a total loss of principal. Trade date is March 23, 2026, original issue date March 26, 2026, determination date April 5, 2027, and stated maturity date April 8, 2027.