Goldman Sachs Group (GS) 424B Filings

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.

GS Finance Corp. is offering Buffered Digital S&P 500Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500 (SPX) with an initial underlier level of 6,672.62 (set on March 12, 2026). The trade date is March 13, 2026, original issue date March 18, 2026, determination date March 29, 2027 and stated maturity April 1, 2027.

Key economic terms: for each $1,000 face amount the maximum settlement amount is $1,084; the notes do not pay interest; a 15% buffer (buffer level = 85% of the initial level) applies. If the final underlier level is below the buffer level, holders lose approximately 1.1765% of face amount for every 1% decline below the buffer; holders could lose their entire investment. Payment formulas, credit risk of the issuer/guarantor, limited upside and potential secondary market illiquidity are disclosed.

GS Finance Corp. is offering callable equity-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the lesser performing of Alphabet Class A, Meta Class A and NVIDIA and pay at maturity either the face amount or, if all three final prices exceed their initial prices, $1,000 plus 3.10 times the lesser performing index stock return per $1,000 face amount. The issuer may redeem the notes on specified monthly call payment dates beginning March 31, 2027 at cash amounts tied to the stated call premium table. The determination date is expected to be March 24, 2031 and the trade/original issue dates are expected to be March 27, 2026 and March 31, 2026, respectively. The estimated value on the trade date is stated to be between $885 and $935 per $1,000 face amount. Payment at maturity is subject to the issuer's and guarantor's credit risk.

GS Finance Corp. is offering equity‑linked, buffer‑protected notes issued March 16, 2026, maturing March 16, 2028, with an aggregate original face amount of $767,000. Each note has a $1,000 face amount, an initial basket level of 100, a 15% buffer and a cap at 125.75% (maximum settlement $1,257.50 per $1,000). The notes pay no interest and settle in cash based on the performance of an equally weighted 12‑stock basket measured from the trade date (3/11/2026) to the determination date (3/13/2028). The original issue price is 100% with an underwriting discount of 2.55% and net proceeds to the issuer of 97.45%. The estimated model value at pricing was ~$940 per $1,000 face amount; investors remain exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering capped buffer-linked medium-term notes with an aggregate face amount of $3,800,000 that pay no interest and are fully guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, a maximum settlement amount of $1,117, and is linked to the Nasdaq-100 Index. The notes provide a 10% buffer (buffer level = 90% of the initial underlier level) and use a buffer rate of approximately 111.11% so that losses occur if the final underlier level is below the buffer level. Trade date was March 11, 2026, original issue date March 16, 2026, determination date April 12, 2027 and stated maturity date April 14, 2027 (all subject to adjustment). The notes are cash-settled, not listed, and expose holders to issuer/guarantor credit risk.

GS Finance Corp. is offering notes linked to the S&P 500 Index with an aggregate face amount of $4,275,000. The notes pay no interest and settle in cash at maturity based on the S&P 500 performance from the trade date (March 11, 2026) to the determination date (April 12, 2027), with a stated maturity of April 14, 2027. If the final underlier level is greater than or equal to a buffer level of 90% of the initial level, holders receive the maximum settlement amount of $1,100.30 per $1,000 face amount. If the final level is below the buffer, the payoff declines by approximately 1.1111% of face per 1% drop below the buffer; holders could lose their entire principal. The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and were issued at 100% of face with an underwriting discount of 0.82%.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due 2046. The pricing supplement sets an interest rate of 5.50% per annum, annual interest paid each March 27, trade date March 25, 2026, original issue date March 27, 2026, and stated maturity date March 27, 2046. Denominations are $1,000 and integral multiples thereof.

The notes will be issued as part of the Medium-Term Notes, Series N program in book-entry form under a senior indenture and will not be listed on any exchange. The prospectus discloses standard tax, distribution, offering restrictions, and FATCA treatment.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2029 linked to the common stock of NVIDIA Corporation. The notes have a $1,000 face amount per note, trade date March 20, 2026, original issue date March 25, 2026 and stated maturity March 23, 2029. They pay a contingent quarterly coupon of $31.75 per $1,000 ( 3.175% quarterly; up to 12.70% per annum) only if the underlier closes at or above a coupon trigger level equal to 50% of the initial underlier level on each coupon observation date. The notes will be automatically called on a call payment date if the underlier closes at or above the initial underlier level on the related call observation date, in which case holders receive $1,000 plus any coupon then due. At maturity, if not called, principal is returned in cash and is protected only if the final underlier level is at or above the trigger buffer level of 50%; if the final underlier level is below that buffer, investors will suffer a loss equal to the underlier return times $1,000. The offering carries an underwriting discount of 2% and net proceeds to the issuer of 98% of face amount.

GS Finance Corp. is offering callable, non‑interest bearing notes linked to the S&P 500® Futures Excess Return Index with an expected trade date of March 31, 2026, original issue date of April 6, 2026 and a stated maturity expected to be April 7, 2031. Each $1,000 face amount pays at maturity an amount tied to the underlier return: 200% upside participation if the final level is at or above the initial level; an absolute positive return if the final level is between 60% and 100% of the initial level; and a prorated negative payoff if below the 60% trigger buffer. The issuer may redeem monthly between April 2027 and March 2031 at specified capped call premiums. Estimated value at pricing is between $885 and $935 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp. offers $2,156,000 aggregate face amount of contingent quarterly coupon notes guaranteed by The Goldman Sachs Group, Inc., with a stated maturity of March 17, 2031 and a determination date of March 12, 2031.

The notes pay a contingent quarterly coupon of $19.375 per $1,000 (1.9375% quarterly, 7.75% per annum) only if each underlier closes at or above 65% of its initial level on the related coupon observation date. The cash settlement at maturity is based solely on the performance of the lesser performing underlier (DJIA, Nasdaq-100, S&P 500) relative to its initial level and can result in a total loss of principal. The issuer may redeem the notes on any coupon payment date commencing March 16, 2027 through December 16, 2030. The original issue price is $1,000 per face amount (100%), with an underwriting discount of 2% and net proceeds of 98% of face amount; a structuring fee of up to 0.8% is included in the underwriting discount.

The Goldman Sachs Group, Inc. is offering callable fixed‑rate notes due 2033 under its Medium‑Term Notes, Series N program. The notes pay interest at 5.00% per annum from the original issue date (expected March 31, 2026) to the stated maturity (expected March 16, 2033), with interest payable each March and September (first payment expected September 30, 2026).

The notes are callable in whole, not in part, on scheduled redemption dates beginning on or after September 30, 2027, upon at least five business days’ prior notice, at 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.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable 10‑Year CMT Rate‑Linked Range Accretion Notes due March 20, 2036. The notes are expected to price on or about March 17, 2026 and to be issued on March 20, 2026. For the first four quarterly interest payment dates, the notes pay 8.65% per annum. Thereafter, quarterly interest, if any, is a range‑accrual formula that multiplies an 8.65% interest factor by the fraction of reference dates during the interest period on which the 10‑year CMT rate is within the 0.00% to 5.00% trigger range. The issuer may redeem the notes in whole on any quarterly interest payment date on or after the interest payment date expected in March 2027 at 100% of principal plus accrued interest. Estimated value at issuance is shown as $884 to $934 per note; original issue price is 100% with a 3.50% underwriting discount.

GS Finance Corp. offers structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, expected to trade on March 19, 2026 with an original issue date expected March 24, 2026 and stated maturity expected March 24, 2031. The notes pay monthly coupons only when the index closing level on an observation date is at least 60% of the initial underlier level, can be automatically called on monthly call observation dates commencing March 2027, and at maturity the cash payment per $1,000 face amount depends on the underlier return subject to an 80% buffer and an explicit floor schedule. The underlier applies a 40% volatility target, may use up to 500% leverage, and is reduced by a 6.0% per annum decrement applied daily. The issuer discloses an estimated value on the trade date of $885–$925 per $1,000 face amount.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2034. The notes pay interest at 5.15% per annum from and including the expected original issue date of March 30, 2026 to but excluding the expected stated maturity of March 30, 2034. Interest is payable semiannually on expected payment dates March 30 and September 30, with the first payment expected on September 30, 2026.

The issuer may redeem the notes in whole, but not in part, on expected quarterly redemption dates on or after March 30, 2030, upon at least five business days’ prior notice, at a redemption price equal to 100% of principal plus accrued interest. The notes will be issued in book-entry form through DTC and are part of the Medium-Term Notes, Series N program governed by the Senior Debt Indenture.

GS Finance Corp. is offering structured, equity‑linked notes that reference the common stocks of NVIDIA Corporation, EMCOR Group, Inc. and Meta Platforms, Inc.. Each note has a $1,000 face amount and is expected to trade on the trade date March 20, 2026 with an original issue date expected to be March 25, 2026 and a stated maturity expected to be March 23, 2029.

The notes pay monthly coupons only if on a coupon observation date the closing price of each index stock is at least 60% of its initial price; the coupon formula uses $15.417 per $1,000 face amount per qualifying coupon observation (equivalent to 1.5417% monthly, or up to approximately 18.5% per annum). The notes are automatically called if, on a call observation date, each index stock closes at or above its initial price, in which case holders receive principal plus any accrued coupon. If not called, the maturity cash settlement is based solely on the lesser performing index stock: holders receive $1,000 if that final price is at least 60% of its initial price, but will suffer a proportional loss (potentially receiving substantially less than 60% of face) if that stock falls below the 60% trigger buffer (a -40% return). The estimated value at pricing is expected to be between $925 and $955 per $1,000 face amount, which is less than the original issue price. The notes are unsecured obligations of GS Finance Corp. and fully guaranteed by The Goldman Sachs Group, Inc.; payments depend on issuer/guarantor creditworthiness.

GS Finance Corp. offers non‑interest notes linked to the Class A common stock of Toast, Inc., guaranteed by The Goldman Sachs Group, Inc.

The notes have an upside participation rate of 125%, an automatic‑call feature that pays $1,381 per $1,000 face amount if the closing price on the call observation date is at or above the initial index stock price, and a trigger buffer level of 60%. Expected timeline: trade date March 19, 2026, original issue date March 24, 2026, call observation date March 19, 2027, and stated maturity date March 22, 2029. The estimated model value on the trade date is between $925 and $955 per $1,000 face amount. Payments at maturity depend on the final index stock price relative to the initial index stock price; declines beyond the 40% buffer (i.e., below the trigger buffer) result in pro rata principal loss, potentially up to a total loss. Payments are unsecured and subject to the issuer and guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk notes linked to the Russell 2000 Index that mature in March 2027. The notes pay no interest and settle in cash based on the Russell 2000 closing level from an initial underlier level set on March 10, 2026 to the determination date. If the final level is at or above the initial level the holder receives a capped $1,153 per $1,000 face amount. If the final level is between the buffer level and the initial level the holder receives the $1,000 face amount. If the final level is below the 90% buffer level, losses apply at a 1% loss of face per 1% decline below the buffer, possibly resulting in a substantial loss of principal. The offering size shown is $4,250,000. The pricing supplement discloses that the original issue price equals face amount, underwriting discount is 0.1%, and net proceeds are 99.9% of face amount. Credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., the cap on upside at $1,153, and the potential for large principal loss are key features.

GS Finance Corp. is offering 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 (0.7209% monthly; ~8.65% annualized) only when the S&P 500®, Russell 2000® and Nasdaq-100 Index® each close at or above 70% of their initial levels on a coupon observation date.

If on any call observation date commencing in March 2027 the closing level of each index is greater than or equal to its initial level, the notes will be automatically called and investors receive the face amount plus the coupon on the related call payment date. If not called, the maturity payout depends solely on the lesser performing index versus its initial level and uses an 80% buffer level (buffer amount 20%), which can still result in substantial principal loss if the lesser performing index declines below the buffer thresholds. The estimated value at pricing is between $925 and $955 per $1,000 face amount. Payments are unsecured obligations and subject to the credit risk of the issuer and guarantor.

GS Finance Corp. offers callable, ETF‑linked notes maturing March 27, 2029. The notes pay a contingent monthly coupon of $6.334 per $1,000 face amount if each underlier closes at or above 50% of its initial level on observation dates; otherwise no coupon is paid.

Redemption may occur on monthly coupon payment dates beginning March 2027 at 100% of face plus any coupon then due. The maturity payout (if not redeemed) is linked to the lesser performing underlier; a final underlier below 50% of its initial level reduces principal pro rata. The estimated value at pricing is between $925 and $955 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering non-interest, principal-linked notes secured by a guarantee from The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Blue Owl Capital Inc. and are expected to have an original issue date of April 3, 2026 and a stated maturity expected April 5, 2029. The notes include an automatic call if the closing price of the index stock on the call observation date is greater than or equal to the initial index stock price, in which case each $1,000 face amount would pay $1,305 on the call payment date (expected April 5, 2027). If not called, the final payment at maturity depends on the index stock return measured from the trade date to the determination date (expected April 2, 2029): an upside participation rate of 200% applies to positive returns, declines down to 55% of the initial stock price produce positive returns equal to the absolute loss, and declines below 55% of the initial price (a drop greater than 45%) produce negative returns that can result in loss of principal. The preliminary estimated value on the trade date is $890–$930 per $1,000, while the original issue price is 100% of face amount. The notes are unsecured obligations of GS Finance Corp., are subject to issuer and guarantor credit risk, have limited anti-dilution protection, and may have limited secondary market liquidity.

GS Finance Corp. offers autocallable contingent-coupon equity-linked notes due September 23, 2027, guaranteed by The Goldman Sachs Group, Inc.

Each note has a $1,000 face amount. Coupons are contingent and paid quarterly only if the underlier, Meta Platforms, Inc. (META), closes at or above 60% of the initial underlier level on a coupon observation date. The notes are automatically called if the underlier closes at or above the initial level on any call observation date; called notes pay $1,000 plus any coupon then due. At maturity, if not called, the cash settlement equals $1,000 if the final underlier level is greater than or equal to the 60% trigger buffer; if below that buffer, the payment equals $1,000 plus $1,000 times the underlier return, which can result in a total loss of principal. Trade date is March 19, 2026 and original issue date is March 24, 2026. Terms are "subject to the automatic call feature" and will be set on the trade date.

GS Finance Corp. offers $ Autocallable Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Dow Jones Industrial Average, Russell 2000 and EURO STOXX 50 and may be automatically called on specified annual observation dates.

At maturity the cash payment is tied to the lesser performing underlier: investors receive $1,000 plus a capped premium of 57.00% if all underliers finish at or above initial levels, remain at par if between the trigger buffer and initial levels, or suffer a loss proportional to the lesser performing underlier return if it falls below the 60% trigger buffer. The notes do not bear interest and carry issuer/guarantor credit risk.

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 (initial level 6,672.62 set on March 12, 2026), trade date March 13, 2026, original issue date March 18, 2026, determination date March 29, 2027 and stated maturity April 1, 2027.

Key economics: for each $1,000 face amount the capped cash payoff is a maximum settlement amount of $1,100 if the final level is ≥ the buffer level (90%). If the final level is below 90% the holder suffers a leveraged loss equal to approximately 1.1111% of face for each 1% decline below the buffer; notes pay no interest. The notes are obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc.; holders bear issuer/guarantor credit risk and could lose their entire investment.

GS Finance Corp. intends to offer floating rate notes guaranteed by The Goldman Sachs Group, Inc. under a preliminary prospectus supplement.

The notes pay interest equal to compounded SOFR plus a 1.15% spread, subject to the minimum interest rate of 0.50% per annum, with quarterly payments expected March 18, June 18, September 18 and December 18 beginning June 18, 2026, and a stated maturity expected to be March 18, 2033. Denominations are $1,000 and integral multiples. Goldman Sachs & Co. LLC acts as calculation agent. The notes will not be listed, are not FDIC insured, have no redemption right, and net proceeds are expected to be lent to The Goldman Sachs Group, Inc.

GS Finance Corp. is offering leveraged buffered notes linked to the State Street SPDR S&P 500 ETF Trust (SPY), with cash settlement based on performance from March 11, 2026 to the determination date. Each note has a $1,000 face amount, 120% upside participation subject to a $1,610 maximum settlement amount, and a 20% downside buffer (buffer level = 80% of the initial underlier level). The notes do not pay interest, are issued by GS Finance Corp. and are unconditionally guaranteed by The Goldman Sachs Group, Inc.. Trade date is March 13, 2026, original issue date March 18, 2026, and stated maturity is July 5, 2030 (determination date July 1, 2030), each subject to adjustment. The initial underlier level is $676.33 (closing level on March 11, 2026). Investors bear issuer/guarantor credit risk, may lose a substantial portion of principal if the final underlier level declines below the buffer, and will not receive dividends or shareholder rights in the underlier.

The Goldman Sachs Group, Inc. is offering floating rate notes with an aggregate principal amount of $20,000,000 due March 13, 2031. Each note has a $1,000 principal denomination and bears interest at compounded SOFR plus a spread of 1.28%, subject to a floor of 0.00% and a cap of 6.00%. Interest is payable quarterly on March 13, June 13, September 13 and December 13, beginning June 13, 2026. Goldman Sachs & Co. LLC is the calculation agent and initial purchaser; the notes are unsecured, not FDIC insured, not listed, and may be supplemented by additional notes at the issuer’s sole option. The prospectus discloses hedging activity by the issuer and tax guidance treating the notes as variable rate debt instruments for U.S. federal income tax purposes.

The Goldman Sachs Group, Inc. is offering $5,000,000 aggregate principal of Callable Fixed Rate Notes due March 13, 2031. The notes pay interest at 4.75% per annum from the original issue date March 13, 2026 with semiannual interest dates on March 13 and September 13, and the first payment on September 13, 2026.

The notes are callable, in whole but not in part, on each redemption date on or after March 13, 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 per note ($5,000,000 aggregate); underwriting discount is 0.20% and proceeds before expenses to The Goldman Sachs Group, Inc. are $4,990,000.

GS Finance Corp. is offering structured, autocallable notes linked to the Class A common stock of CoreWeave, Inc. The notes reference an initial index stock price of $81.96 (set March 11, 2026), have an expected trade date of March 13, 2026, an original issue date expected to be March 18, 2026, and an expected stated maturity of March 15, 2029 unless automatically called.

The notes pay a monthly coupon of $35.417 per $1,000 face amount (3.5417% monthly, potential for ~42.5% per annum) only if the index stock closing price on a coupon observation date is ≥ 60% of the initial index stock price. They will be automatically called if the index stock closing price on a call observation date is ≥ the initial index stock price. At maturity, cash settlement depends on the index stock return vs. buffers: no loss above a -40% return (final price ≥ 60%); principal-only outcome between -50% and -40%; and pro rata losses below -50%. The prospectus discloses an estimated value on the trade date of $925 to $955 per $1,000 face amount and notes the obligations are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. intends to issue callable S&P 500® Futures Excess Return Index‑linked notes due March 20, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an upside participation rate of 400% and a trigger buffer of 70%. If the final underlier level exceeds the initial level, holders receive 4x the index return times $1,000 per face amount; if the final level is below 70% of the initial level, holders suffer downside and could lose their entire investment. The issuer may redeem the notes on quarterly call dates from March 22, 2027 through December 20, 2030 at specified call premium amounts. Trade date and original issue date are expected to be March 17, 2026 and March 20, 2026, respectively. The estimated value at pricing is between $885 and $925 per $1,000 face amount, which is below the original issue price.

GS Finance Corp. offers index-linked notes due April 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the lesser performing of the MSCI EAFE and STOXX® Europe 600 indices measured from the trade date (expected March 31, 2026) to the determination date (expected March 31, 2031). For each $1,000 face amount, holders will either receive (a) $1,000 plus 220% participation of the lesser performing index return if that index return is ≥ 0%, (b) $1,000 if the final level of each index is ≥ 60% of its initial level, or (c) a reduced cash payment tied to the lesser performing index return if any index falls below 60% of its initial level.

The prospectus discloses an estimated value on the trade date between $885 and $935 per $1,000 face amount and notes that the original issue price is 100% of face. Payments are subject to the issuer and guarantor credit risk, U.S. federal tax uncertainties, potential FATCA and withholding rules, and limited secondary market liquidity.

GS Finance Corp. is offering callable contingent coupon index-linked notes due December 20, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $9.459 per $1,000 (0.9459% monthly, ~11.35% annually) only if each underlier meets a coupon trigger (70% of its initial level) on each coupon observation date.

Principal at maturity is paid in cash and determined by the lesser performing underlier (Nasdaq-100, Russell 2000, S&P 500). If that underlier is below its trigger buffer level (65% of initial), investors can incur principal loss, including loss of the entire investment. The issuer may redeem the notes in whole on coupon payment dates commencing in June 2026 — subject to the company’s redemption right.