Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. is offering Autocallable Russell 2000® Index-Linked Notes due April 2, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and may be automatically called on the call observation date March 25, 2027 if the underlier closes at or above the initial level; an automatic call would pay $1,149 per $1,000 face amount.

If not called, maturity payoff depends on the Russell 2000 performance on the determination date March 26, 2029: upside is 125% of the index gain; principal is protected down to a 85% trigger buffer but investors face full downside below that level and could lose their entire investment.

The Goldman Sachs Group, Inc. intends to offer callable fixed-rate notes due 2030 that pay interest at 4.65% per annum from an original issue date expected to be March 27, 2026 to the stated maturity expected to be March 27, 2030.

Interest is expected to be paid semiannually on March 27 and September 27, with the first payment expected on September 27, 2026. The issuer may redeem the notes in whole, but not in part, on scheduled quarterly redemption dates on or after March 27, 2028, with at least five business daysprior notice and a redemption price equal to 100% of principal plus accrued interest. The notes will be issued in book-entry form through DTC and are a new issue with no established trading market.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2029. The notes pay interest at 4.55% per annum from the original issue date (expected March 27, 2026) to the stated maturity (expected March 27, 2029), with semiannual payments (expected March 27 and September 27) and a first payment expected September 27, 2026.

The issuer may redeem the notes in whole (but not in part) on scheduled quarterly redemption dates on or after March 27, 2027 at a 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 and settle through DTC on the expected issue date. The pricing supplement states the initial price to public will vary for certain investors and that underwriters may resell at market or negotiated prices. Settlement is expected in New York on March 27, 2026.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes linked to the lesser performing of the Russell 2000® and the Nasdaq-100®. The notes (CUSIP 40058YFR8) do not bear interest and have an expected trade date of March 26, 2026, original issue date of March 31, 2026, and stated maturity date of March 30, 2028. At maturity each $1,000 face amount will pay an amount based on the lesser performing underlier return, with a cap of $1,212.50 and a minimum settlement of $950. The estimated value at pricing is $925–$955 per $1,000 face amount, which is less than the original issue price. Payments are subject to the credit risk of GS Finance Corp. and its guarantor, and the notes are not FDIC insured.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering non-interest-bearing, contingent notes linked to the common stock of Salesforce, Inc. (CRM). The notes have an upside participation rate of 150%, an automatic call if the index stock closes at or above the initial price on the call observation date (expected March 29, 2027) for a capped cash payment of $1,213.50 per $1,000 face amount, and a stated maturity expected on March 30, 2029.

If not called, payoff at maturity depends on the index stock return from the trade date (expected March 27, 2026) to the determination date (expected March 27, 2029): positive returns pay 150% of the stock return, modest declines up to 35% produce the absolute (positive) stock decline as payoff, but declines beyond 35% produce negative returns and can lead to a total loss. The prospectus shows an estimated value at trade-date pricing between $925 and $955 per $1,000 face amount; original issue price is 100% of face amount.

GS Finance Corp. is offering leveraged buffered notes linked to the S&P 500® Futures Excess Return Index due March 23, 2029. For each $1,000 face amount the maturity payout is: (1) $1,000 + $1,000×140%×underlier return if the final level > initial level; (2) $1,000 if the final level is between the initial level and the buffer level (80% of initial); or (3) $1,000 + $1,000×100%×(underlier return + 20%) if final level < buffer, which can produce substantial principal loss. The notes pay no interest, are cash-settled, and expose investors to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The original issue price exceeds the notes’ estimated model value on the trade date, and secondary market liquidity is not assured.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due March 30, 2028 that pay interest at 4.35% per annum from and including the original issue date (expected March 30, 2026) to but excluding maturity. Interest is payable each March 30 and September 30, with the first payment expected on September 30, 2026.

The notes are callable by the issuer in whole, but not in part, on scheduled redemption dates (expected each March 30, June 30, September 30 and December 30 on or after September 30, 2026) at 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. Tax treatment notes include U.S. ordinary interest taxation and potential FATCA withholding.

GS Finance Corp. is offering autocallable index-linked notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the Dow Jones Industrial Average, Russell 2000 and S&P 500 and pay no interest.

Key economics: trade date March 19, 2026, original issue date March 24, 2026, determination date March 19, 2031, stated maturity March 26, 2031. Upside participation is 100% and each underlier has a trigger buffer at 70% of its initial level. Semi-annual automatic calls can redeem notes early with scheduled call premiums ranging from 11% to 49.5%. If not called, the cash settlement at maturity is based solely on the lesser performing underlier; losses can equal the full principal.

The Goldman Sachs Group, Inc. is offering floating rate notes linked to compounded SOFR with a spread of 1.00% and a minimum interest floor of 0.00% per annum. The notes are expected to have an original issue date of March 19, 2026 and a stated maturity date of March 19, 2029. Interest is expected to be paid quarterly on March 19, June 19, September 19 and December 19, beginning June 19, 2026. Interest will be calculated using compounded SOFR over a defined observation period and rounded to the nearest one hundred-thousandth of a percentage point, with Goldman Sachs & Co. LLC acting as calculation agent.

The notes are unsecured obligations of Goldman Sachs, not FDIC insured, not listed, and will not be redeemable. The prospectus supplement discloses hedging activities, potential conflicts of interest, and U.S. federal income tax treatment (treated as variable rate debt). The offering may be increased at the issuer's option and hedging and market-making by affiliates could affect market value.

GS Finance Corp. offers non‑interest bearing notes linked to the MSCI ACWI Index with expected trade date March 13, 2026 and stated maturity March 16, 2029. Each $1,000 face amount pays a cash settlement at maturity based on the index return, a 105% participation rate and whether a reset event (index ≤85% of initial level during observation period) occurs. The applicable maximum settlement amount is $1,400 if no reset event occurs and $1,557.50 if a reset event occurs. If the final index level falls below 85% of the initial level, the return is negative and investors may lose all principal. The estimated value on the trade date is between $925 and $955 per $1,000 face amount.

GS Finance Corp. offers callable 10-year 10-year CMT rate‑linked range accrual notes due March 31, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay monthly interest based on an interest factor of 8.00% and the 10‑year CMT threshold of 4.70%.

Interest payment for each month equals the fraction of reference dates in the interest period with the 10‑year CMT ≤ 4.70% multiplied by the 8.00% interest factor, determined on the fourth scheduled U.S. government securities business day prior to each monthly payment. Issuer may redeem at par on any monthly interest payment date on or after March 31, 2027.

The prospectus shows an estimated value at issuance between $917.3 and $967.3 per $1,000 face amount and states market‑making, liquidity, credit and model risks; purchase proceeds will be lent to Goldman Sachs affiliates.

GS Finance Corp. is offering market-linked, auto-callable securities guaranteed by The Goldman Sachs Group, Inc. Each security has a face amount of $1,000 and an original offering price of $1,000 per security. The securities are linked to the lowest performing of the common stock of ServiceNow, Inc. and Broadcom Inc. and mature on March 23, 2029 (subject to postponement).

Key economic terms disclosed include a call premium of 50.00% ($500 per security), an upside participation rate of at least 317.00%, a threshold amount of 40% (threshold price = 60% of starting price), and a pricing-date estimated value between $925 and $955 per $1,000 face amount. Investors face 1-to-1 downside exposure below the threshold and may lose up to 100% of the face amount. Payments are subject to issuer and guarantor credit risk.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due March 27, 2036 that pay interest at 5.30% per annum from an original issue date expected to be March 27, 2026. Interest is payable semiannually on each March 27 and September 27, with the first payment expected on September 27, 2026

The notes are callable at the issuer's option in whole (not in part) on expected quarterly redemption dates beginning on or after March 27, 2031, at a redemption price equal to 100% of principal plus accrued and unpaid interest. The notes will be issued in book-entry form through DTC. The offering is a new issue with no established trading market; underwriters include Goldman Sachs & Co. LLC and InspereX LLC.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering autocallable, buffered notes linked to the EURO STOXX 50® Index. The notes have an expected trade date of March 13, 2026, original issue date of March 18, 2026 and a stated maturity date of March 18, 2031. They pay no interest and may be automatically redeemed beginning in March 2027 if the index on a call observation date is ≥ 90% of the initial level; applicable call premiums range from 10.4% to 49.4% depending on the call date. If not called, maturity payments depend on the final index level: the maximum maturity payment is $1,520 per $1,000 face amount if the final level is ≥ 90%; full face is returned for final levels between 85% and 90%; below 85% investors suffer a leveraged loss (buffer rate ≈ 117.65%), and could lose their entire investment. The estimated value on the trade date is between $885 and $935 per $1,000 face amount. Payments are subject to the issuer’s and guarantor’s credit risk.

GS Finance Corp. is offering non‑interest, principal‑at‑risk notes linked to an equally weighted basket of eight stocks, issued March 16, 2026 with a stated maturity of March 15, 2028 and an automatic call feature on March 23, 2027. If the basket closing level on the call observation date is at or above the initial basket level (100), each $1,000 face amount will be redeemed for $1,206.3 on the call payment date. If not called, maturity payments depend on the basket return with a 125% upside participation, a 10% buffer (buffer level = 90%), and a buffer rate of approximately 111.11%. The estimated value on the trade date was approximately $946 per $1,000 face amount. Original issue price is 100% with a 1.5% underwriting discount and net proceeds of 98.5%; initial aggregate face amount is $3,050,000.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering buffer-protected, capped notes linked to the S&P 500 Index. The offering totals $12,700,000 aggregate face amount in $1,000 notes with a trade date of March 11, 2026, original issue date March 16, 2026, determination date April 12, 2027 and stated maturity April 15, 2027.

Key economics: an upside participation rate of 200% subject to a maximum settlement amount of $1,116 per $1,000 face; a buffer level of 85% (buffer amount 15%) and a buffer rate of 100%. Notes pay no interest and principal is preserved only if the final underlier level does not fall below the buffer level. Investors are exposed to issuer and guarantor credit risk and to potential large principal losses if the underlier declines beyond the buffer.

GS Finance Corp. priced structured notes linked to Invesco QQQ, Series 1 (QQQ) and NVIDIA Corporation (NVDA). The notes pay a fixed monthly coupon of $8.459 per $1,000 (≈0.8459% monthly, up to approximately 10.15% annually), mature on March 16, 2028, and have an aggregate original face amount of $2,500,000 on the original issue date.

At maturity you receive the final coupon plus a cash settlement per $1,000 face amount equal to $1,000 if each underlier finishes at least 50% of its initial level, or otherwise $1,000 plus the product of the lesser performing underlier return and $1,000 (i.e., losses reflect the lesser performing underlier with a 50% trigger buffer). The estimated value at pricing was approximately $984 per $1,000; original issue price was 100% with a 0.4% underwriting discount.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due 2027, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of NVIDIA Corporation (ticker "NVDA UW") and have a face amount of $1,000 per note.

Key economics: coupons are contingent monthly payments that occur only if the underlier closing level is at least 75% of the initial level; an automatic call occurs if the underlier closes at or above the initial level on a call observation date. At maturity, if not called, payoff is capped at 100% of face when final underlier level is at or above the buffer level (75%); downside below the buffer exposes investors to losses (examples show losses of up to 56% at certain levels).

GS Finance Corp. offers $5,000,000 of structured, cash-settled callable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the EURO STOXX 50® Index with a 150% upside participation rate, an 85% buffer level and an automatic-call feature.

Key economic terms: original issue price 100% of face amount, underwriting discount 1.5%, net proceeds 98.5%. Call observation date is March 24, 2027 (call payment March 29, 2027); determination date March 13, 2028 and stated maturity March 16, 2028. The notes pay no interest, may be automatically called for a capped cash payment of $1,142 per $1,000 if the underlier is at or above the initial level on the call observation date, and, if not called, principal at maturity depends on underlier performance; investors may lose their entire investment.

GS Finance Corp. is offering autocallable index-linked notes due March 21, 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 meets rising call levels. The index (GSMBFC5) applies a 0.65% annual deduction and a 5% realized volatility control that can allocate substantial exposure to non‑interest bearing cash, which can materially reduce index returns. GS&Co.’s estimated trade‑date value is $885 to $925 per $1,000 face amount. Investors remain exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., capped call payments and potential secondary‑market illiquidity.

GS Finance Corp. offers Market Linked Securities (Medium-Term Notes, Series F) guaranteed by The Goldman Sachs Group, Inc. These are U.S. dollar, $1,000 face amount auto-callable notes linked to the lowest performing of the S&P 500, the Russell 2000 and the Nasdaq-100, with a stated maturity of March 22, 2029. The notes pay no interest and may be automatically called on specified call dates; minimum call premiums are 15.00% on March 23, 2027, 30.00% on March 23, 2028 and 45.00% on the final calculation day (March 19, 2029). If not called, maturity payment depends solely on the ending level of the lowest performing underlier: investors receive full face amount if that underlier is down no more than 25.00%, otherwise they have 1-to-1 downside exposure and may lose up to 100.00% of principal. The estimated value at pricing is between $925 and $955 per $1,000 face amount; original offering price is $1,000 with proceeds to issuer of $974.25 per security.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering buffer-linked, non-interest-bearing notes tied to the S&P 500® Index with an aggregate face amount of $2,482,000. The notes have a trade date of March 11, 2026, an original issue date of March 16, 2026, a determination date of March 13, 2028, and a stated maturity date of March 16, 2028.

Payment at maturity depends on final underlier performance versus the initial level: if final ≥ initial you receive a capped $1,223.50 per $1,000 face amount; if final ≥ 75% of initial you receive $1,000; if final < 75% you suffer proportional losses equal to the underlier return times the face amount and could lose your entire investment.

GS Finance Corp. is offering leveraged, buffered S&P 500® index-linked notes due 2028 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the cash payment at maturity depends on the S&P 500 performance from the trade date to the determination date, with a $1,220.50 maximum upside settlement amount, a 250% upside participation rate and a 10% buffer (buffer level is 90% of the initial underlier level). The trade date is March 27, 2026, original issue date is April 1, 2026, determination date is March 27, 2028 and stated maturity is March 30, 2028.

The notes convert negative underlier returns up to the buffer into positive returns for holders, but losses occur if the S&P 500 declines beyond the buffer; investors are exposed to issuer and guarantor credit risk and the notes may have limited secondary-market liquidity.

GS Finance Corp. offers structured, autocallable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference Apple, Robinhood and Moderna, mature on March 15, 2029, and carry an aggregate original face amount of $1,010,000. Coupons (monthly accrual up to ~20.15% per annum) are payable only if each index stock meets a 60% trigger on observation dates. Notes will be automatically called between March 2027 and February 2029 if each index stock equals or exceeds its initial price. At maturity, if a trigger event (all three final prices below initial prices) occurs, repayment is linked to the worst-performing stock and could be materially below principal; if no trigger event occurs, principal is returned. The estimated value at pricing was approximately $947 per $1,000 face amount.

GS Finance Corp. issues non-interest notes linked to three underliers. The notes mature on April 15, 2027 and pay a cash amount tied to the lesser performing of the S&P 500®, EURO STOXX 50® and the State Street® Utilities Select Sector SPDR® ETF, measured from the trade date March 11, 2026 to the determination date April 12, 2027.

If each final underlier level is ≥ 60% of its initial level you receive the maximum settlement amount of $1,080 per $1,000 face amount. If any underlier is 60% of its initial level, the cash payment equals $1,000 plus $1,000 times the lesser performing underlier return, which can result in a loss of principal. Initial aggregate face amount was $250,000; original issue price was 100% and the estimated value at pricing was approximately $987 per $1,000 face amount.

GS Finance Corp. offers $2,500,000 of S&P 500®-linked notes (guaranteed by The Goldman Sachs Group, Inc.) with a 200% upside participation and a 15% buffer (buffer level = 85% of the initial underlier level). The notes pay no interest and may be automatically called on the call observation date; if called the issuer will pay $1,094.10 per $1,000 face amount on the call payment date. If not called, final payment at maturity depends on the S&P 500 closing level on the determination date: investors receive upside participation if the final level exceeds the initial level, receive principal if the final level is between the buffer and initial levels, or suffer a structured loss (the payment formula uses the buffer rate ≈ 117.65%) and could lose their entire investment. The offering price is 100% of face amount; underwriting discount is 1.5% (net proceeds 98.5%). Trade date is March 11, 2026; original issue date is March 16, 2026; determination date March 10, 2028; stated maturity March 15, 2028.

GS Finance Corp. is offering Buffered iShares Expanded Tech-Software Sector ETF‑Linked Notes due April 14, 2027 guaranteed by The Goldman Sachs Group, Inc. The original aggregate face amount is $3,675,000 with a trade date of March 11, 2026 and an original issue date of March 16, 2026. Each note has a $1,000 face amount, an initial underlier level of $85.74, a buffer amount of 15%, a buffer rate of approximately 117.65%, and a threshold level equal to 85% of the initial level. If the final underlier level on the determination date (April 12, 2027) is at or above the threshold, each note pays a capped $1,150.50 at maturity; if below the threshold, losses apply according to the disclosed buffer formula and investors could lose their entire investment. The estimated value on the trade date was approximately $976 per $1,000 face amount. The original issue price is 100%, underwriting discount 0.81%, and net proceeds 99.19%. The notes do not bear interest and are unsecured obligations subject to issuer and guarantor credit risk.

GS Finance Corp. is offering structured, non‑interest bearing notes due March 18, 2031 linked to three underliers: the Russell 2000® Index, the Nasdaq‑100 Technology Sector Index and the State Street® Utilities Select Sector SPDR® ETF. The aggregate original face amount on the issue date is $1,703,000. The notes include an automatic call feature beginning with a first call observation date on March 11, 2027, with increasing call premiums on scheduled call payment dates and a capped maturity payoff (maturity premium amount 72.504%). If not called, maturity payout depends on the lesser performing underlier versus its initial level, with a 70% trigger buffer: full face amount is returned if the lesser performing underlier finishes at or above 70% of its initial level; below 70% the payout falls proportionally to the lesser performing underlier return. The estimated model value on the trade date was approximately $939 per $1,000 face amount, below the original issue price.

GS Finance Corp. offers principal-at-risk, cash-settled notes linked to the S&P 500® Futures Excess Return Index. The notes have a $1,000 face amount and an aggregate face amount of $500,000. The upside participation rate is 213.25%, the trigger buffer level is 80% of the initial underlier, the trade date is March 11, 2026, and the stated maturity is March 14, 2031.

At maturity the payout per $1,000 depends on the final underlier level: full upside participation if the final level exceeds the initial level; return of face amount if the final level is ≥80% of initial; and a pro rata loss for declines below 80%, potentially losing the entire investment. The notes pay no interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering equity index linked, auto-callable medium-term notes linked to the Nasdaq-100 Index® with a $1,000 face amount per security. The pricing date is March 18, 2026 and expected original issue date is March 23, 2026. The notes pay no interest and are subject to issuer and guarantor credit risk.

If the closing level of the underlier on the call date is greater than or equal to the starting level, the notes will be automatically called and pay the face amount plus a 12.00% call premium. If not called, maturity payoffs depend on the ending level: at least a 150% upside participation (to be set on the pricing date) for increases, return of face amount if decline ≤ 25%, and 1-to-1 downside exposure if decline > 25%, up to 100% loss of face amount.

The original offering price is $1,000 per security; the estimated value at pricing is between $925 and $955 per $1,000 face amount. Underwriting discount is up to 2.075% (up to $20.75 per $1,000), with proceeds to issuer of $979.25 per security.

GS Finance Corp. is offering $7,000,000 of medium‑term, S&P 500®‑linked buffer notes guaranteed by The Goldman Sachs Group, Inc. The notes mature on April 13, 2027 and pay no interest.

Payment at maturity is cash per $1,000 face amount: if the final S&P 500 level on the determination date is ≥ the buffer level (85% of the initial level), investors receive the maximum settlement amount of $1,084. If the final level is below 85%, losses accrue at approximately 1.1765% of face per 1% decline below the buffer, potentially resulting in a total loss of principal. The original issue price equals face; underwriting discount is 0.82%.

GS Finance Corp. offers $3,992,000 aggregate face amount of autocallable index-linked notes due March 14, 2031. The notes pay no interest and may be automatically called beginning on March 11, 2027 if each of the S&P 500®, Dow Jones Industrial Average® and Russell 2000® closes at least 90% of its initial level.

At maturity the cash payment per $1,000 face amount depends on the lesser performing index: $1,490 if all final levels are ≥ 90% of initial levels (maturity premium 49%), $1,000 if all final levels are ≥ 75% but some < 90%, or a pro rata payout tied to the lesser performing index if any index is < 75%. The estimated value on the trade date was approximately $970 per $1,000 face amount. Payments are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured, S&P 500®-linked buffer notes guaranteed by The Goldman Sachs Group, Inc. The notes have an aggregate face amount of $4,050,000, a face amount of $1,000 per note, no periodic interest, and a stated maturity of March 15, 2029 (determination date March 12, 2029).

At maturity the cash payment depends on the S&P 500 final level versus an initial level of 6,775.80: gains are paid up to a capped $1,363.50 per $1,000; declines up to the 20% buffer produce a positive absolute return; declines beyond the buffer produce losses proportional to the decline. The notes are unsecured senior debt and bear issuer and guarantor credit risk.

GS Finance Corp. is offering buffered, Russell 2000® index-linked notes due April 23, 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, feature a 10% buffer (buffer level 90%) and cap the maximum cash payoff at $1,193 per $1,000 face amount. The final payment depends on the Russell 2000 closing level on the determination date (April 20, 2027), with a 100% buffer rate and cash settlement formulas set by the pricing terms. Investors may lose a substantial portion of principal if the final underlier level falls below the buffer; conversely, upside is limited by the stated cap. The notes are issued under GS Finance Corp.'s Medium-Term Notes, Series F program and are not exchange-listed.

GS Finance Corp. offers $7,500,000 aggregate face amount of S&P 500®-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes have a 150% upside participation rate, a trigger buffer of 80% of the initial underlier level (initial level 6,781.48 as of March 10, 2026), and do not bear interest.

If the notes are automatically called on the call observation date, holders receive $1,118.60 per $1,000 face amount on the call payment date; otherwise the cash settlement at maturity depends on final S&P 500® performance versus the initial level, with full principal loss possible if the final level is below the 80% trigger buffer. The notes are cash‑settled, book‑entry, and were offered at 100% of face amount with a 1.5% underwriting discount.

GS Finance Corp. offers $Buffered S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc., with cash settlement at maturity linked to the S&P 500 performance from the trade date to the determination date. The notes carry a 10% buffer (buffer level 90%) and a capped upside per $1,000 face amount at $1,207. If the final underlier level is down by no more than 10%, investors receive the absolute positive return; declines beyond the buffer produce proportional losses of principal. The notes pay no interest and are subject to issuer and guarantor credit risk and uncertain U.S. federal tax treatment.

GS Finance Corp. is offering Index-Linked Notes due March 15, 2029 guaranteed by The Goldman Sachs Group, Inc. The aggregate face amount on the original issue date is $1,023,000. The notes reference the lesser performing of the Russell 2000® and the S&P 500® measured from the trade date March 11, 2026 to the determination date March 12, 2029. The upside participation rate is 106% and a buffer of 18% (buffer level = 82% of initial levels) applies to downside outcomes. The estimated value on the trade date is approximately $973 per $1,000 face amount; original issue price is 100% with an underwriting discount of 1.2%. These are non‑interest bearing notes; final payment depends solely on the lesser performing underlier on the determination date, and holders are exposed to issuer and guarantor credit risk and potential substantial loss of principal.

GS Finance Corp. is offering $4,796,000 aggregate face amount of Barrier Market-Linked Notes linked to the SPDR® Gold Trust (GLD), due March 20, 2028, guaranteed by The Goldman Sachs Group, Inc.

Each note has a $1,000 face amount. Trade date is March 11, 2026 and original issue date is March 16, 2026. The initial ETF price is $476.24. An upper barrier equals the initial price plus 38.00%. If a barrier event occurs on any observation day, each note pays $1,080.00 at maturity (an 8.00% contingent return). If no barrier event occurs and the final ETF price exceeds the initial price, holders receive the ETF return capped at 38.00% (maximum payment $1,380.00). Estimated value on the trade date is approximately $969 per $1,000 face amount. Payments and principal repayment depend on the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk, autocallable notes linked to the S&P 500® and EURO STOXX 50® Indices. Each $1,000 face amount pays no interest, may be automatically called on specified quarterly observation dates with capped cash call premiums, and matures March 14, 2031 if not called. At maturity the cash settlement depends on the lesser performing underlier: full principal plus a 54.25% capped premium if both final levels are at or above initial levels; return of $1,000 if final levels are between 70% and 100% of initial levels; or a loss equal to the lesser performing underlier return times $1,000 if any final level is below 70% (you may lose your entire investment).

GS Finance Corp. is offering notes under a Pricing Supplement that register an aggregate face amount of $1,625,000 linked to the MSCI EAFE, Nasdaq-100 and S&P 500 indices. The notes pay no interest, carry a 150% upside participation rate and may be automatically called on the call observation date if each underlier’s closing level is at or above its initial level. If not called, the maturity payoff depends solely on the lesser performing underlier: investors receive upside if that underlier rises, receive principal if it remains at or above an 80% trigger buffer, but may lose up to their entire investment if that underlier falls below the trigger buffer. The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and guarantor credit risk, limited liquidity, underwriting costs embedded in the original issue price, and tax and market‑value uncertainties.

GS Finance Corp. is offering non‑interest bearing structured notes linked to an equally weighted basket of six alternative-asset managers (Apollo, Ares, Blackstone, Carlyle, KKR, TPG). The notes feature an upside participation rate of 400% and a cap level expected between 110.04% and 111.8%, producing a maximum settlement amount expected between $1,401.6 and $1,472 per $1,000 face amount. The initial basket level is 100; final payout depends solely on the final basket level on the determination date (expected ~13–15 months after trade date). The estimated value at pricing is expected between $920 and $950 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor).

The Goldman Sachs Group, Inc. is offering callable fixed rate notes that pay 4.80% interest per annum from an original issue date expected to be March 30, 2026 to a stated maturity expected to be March 30, 2031. Interest is expected semiannually on March 30 and September 30, beginning September 30, 2026.

The notes will be issued in book-entry form through DTC and are callable by the issuer in whole (not in part) on scheduled redemption dates starting on or after March 30, 2028, at a redemption price of 100% of principal plus accrued interest. The offering is being distributed by Goldman Sachs & Co. LLC and InspereX LLC and is part of the issuer's Medium-Term Notes, Series N program.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable indexed notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The pricing supplement shows an aggregate face amount of $2,055,000, an upside participation rate of 100% and a call level of 101.5%. The notes have a trade date of March 11, 2026, an original issue date of March 16, 2026, and a stated maturity on March 18, 2031. If the index on any call observation date meets or exceeds the call level, the notes will be automatically called and pay $1,000 plus a call premium (call premiums range from 11.50% to 46.00% depending on year). If not called, maturity payment equals $1,000 if the final index level is equal to or less than the initial index level (initial index level 113.04), or $1,000 + $1,000 × index return × 100% if the final index level is higher. GS&Co.’s estimated trade-date value is $935 per $1,000 face amount; original issue price is $1,000 with an underwriting discount of 1.375% (net proceeds 98.625%). The index methodology includes daily rebalancing, a 5% volatility control, momentum risk controls and a 0.65% annual deduction; allocations to hypothetical cash positions may substantially reduce index returns.

GS Finance Corp. offers $2,954,500 aggregate face amount of Capped Buffer GEARS linked to the SPDR® Gold Trust (GLD), due March 16, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes provide 2.00x upside gearing up to a 30.25% cap (maximum settlement amount $13.025 per $10 face) and a 10.00% buffer (downside threshold 90.00% of the initial ETF price of $476.24). Payments are contingent on the closing GLD price on the determination date March 13, 2028 and on the issuer and guarantor creditworthiness. The original issue price is 100% of face; estimated value at trade date was approximately $9.64 per $10 face and the underwriting discount is 2.00%.

GS Finance Corp. proposes a callable, equity-linked note tied to Toast, Inc. Class A common stock. The notes have a $1,000 face amount per note, an 125% upside participation rate, a trigger buffer equal to 60% of the initial index stock price, and a capped call payment of $1,320 per $1,000 if automatically called.

Key dates expected when terms are set on the trade date: trade date March 19, 2026, original issue date March 24, 2026, automatic call observation March 19, 2027 with call payment March 24, 2027, and determination/stated maturity date around March 19–22, 2029. The estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount. The notes do not bear interest, are unsecured, are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and include anti-dilution mechanics and calculation-agent discretion in pricing and determinations.

GS Finance Corp. is offering non‑interest bearing, buffered notes linked to the iShares Expanded Tech‑Software Sector ETF (IGV), guaranteed by The Goldman Sachs Group, Inc. The notes use an initial underlier level of $84.99 set on March 12, 2026, provide a 15% buffer and a capped payout of $1,153.5 per $1,000 face amount if the final ETF level is ≥85% of the initial level. If the final level falls below the 85% threshold, holders suffer leveraged losses (buffer rate ~117.65%), and could lose their entire investment. The estimated model value at pricing was between $950 and $980 per $1,000 face amount. The notes mature about 13 months after the trade date; market disruptions, calculation agent discretions, credit risk of the issuer/guarantor, tax uncertainties, and limited secondary liquidity are disclosed risks.

GS Finance Corp. is offering autocallable S&P 500® Index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an upside participation rate of 150%, an 80% trigger buffer and an initial underlier level of 6,672.62 (closing level on March 12, 2026).

If the notes are automatically called (call observation date March 25, 2027), each $1,000 face amount would pay $1,125.20 on the call payment date. If not called, final payment at maturity (March 16, 2028) depends on the S&P 500 closing level: full principal preserved when the final level is at or above 80% of the initial level, amplified upside when higher, and losses (potentially the entire investment) if the final level is below 80%.

GS Finance Corp. priced $5,000,000 of medium-term, S&P 500®-linked buffer notes guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount pays no interest, may be automatically called on the call observation date for $1,102 if the underlier closes at or above the initial level, and otherwise pays a cash settlement at maturity tied to the S&P 500 closing level on the determination date. The notes feature a 150% upside participation rate, an 85% buffer level (15% buffer amount) and a buffer-rate formula (~117.65%). Trade date is March 11, 2026, original issue date March 16, 2026, call observation date March 23, 2027, determination date March 10, 2028, and stated maturity March 15, 2028. The original issue price equals 100% of face amount; underwriting discount is 1.5% (net proceeds 98.5%). Investors bear issuer/guarantor credit risk and could lose their entire investment if the final underlier level is sufficiently low.

GS Finance Corp. offers non-interest-bearing, principal-at-risk notes guaranteed by The Goldman Sachs Group, Inc., linked to an equally-weighted basket of six alternative-asset managers. The initial basket level is 100 (set on March 12, 2026) and the notes have an expected stated maturity of April 14, 2027.

Holders receive $1,267 per $1,000 face amount if the final basket level is at least 85% of the initial level; if the final basket level is below 85%, losses are amplified by a buffer rate of approximately 117.65%, and investors could lose their entire investment. The estimated model value at pricing is between $935 and $965 per $1,000 face amount. Payments depend on the final determination date closing levels and are subject to issuer and guarantor credit risk.