Goldman Sachs Group Inc. 424B Filings

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-linked notes whose return is based on an equally weighted basket of Apollo Global Management, Blackstone and KKR. These non‑interest bearing notes have an expected trade date of March 12, 2026, an expected call observation date of March 12, 2027 (automatic call pays $1,200 per $1,000 face if the basket closing level is ≥ the initial level) and an expected stated maturity of March 17, 2031.

The initial basket level is 100, the upside participation rate is 184.8%, and the trigger buffer level is 50% of the initial basket level. At maturity holders receive $1,000 + $1,000 × 1.848 × basket return if the basket return is non‑negative; otherwise protection applies only down to a -50% basket return, below which losses are direct and can exceed 50%. The estimated value on the trade date is $885–$925 per $1,000 face amount.

GS Finance Corp. is offering leveraged buffered notes linked to the S&P 500® Futures Excess Return Index with a $1,000 face amount denomination. The notes mature on March 20, 2031 with final payoff determined on March 17, 2031.

The notes provide an upside participation rate of 180.25%, a buffer level of 80% (buffer amount 20%) and a buffer rate of 100%. If the final underlier is above the initial level, payoff equals principal plus participation times underlier return; if final level is between the buffer and initial level, you receive the face amount; if below the buffer, you incur losses pro rata of underlier decline.

GS Finance Corp. offers Autocallable Goldman Sachs Momentum Builder® Focus ER Index-Linked Notes due 2033, guaranteed by The Goldman Sachs Group, Inc. The notes link cash payments to the GSMBFC5 Index, have an upside participation rate of 100%, and feature annual automatic-call tests with increasing call levels and call premiums through March 17, 2032. Trade date is March 17, 2026 and original issue date is March 20, 2026. GS&Co. estimates the notes' value at issuance at $885 to $925 per $1,000 face amount. If not called, maturity is March 24, 2033, and at maturity holders receive either the principal or an upside payment tied to index return; if the final index level is equal to or below the initial index level, holders receive the face amount. The notes do not pay interest and are subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering $23,000,000 aggregate face amount of Trigger Autocallable Contingent Yield Notes due March 13, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons of $0.225 per $10 (up to 9.00% per annum) only if both underlying ETFs meet coupon barriers on observation dates and are subject to automatic redemption beginning March 2027 if each ETF closes at or above its initial ETF price.

The notes link to the lesser performing of SPY and KRE, have a downside threshold of 60.00% of initial ETF prices, an estimated trade-date value of approximately $9.59 per $10 face amount, and expose holders to market risk of the ETFs and the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to the Russell 2000® Index and the S&P 500® Index with an aggregate face amount of $1,632,000. Each $1,000 note pays at maturity either the face amount or, if both underliers finish above their initial levels, a positive return equal to the lesser performing underlier return subject to a maximum settlement amount of $1,130. The notes trade March 10, 2026, have an original issue date of March 13, 2026, a determination date of March 10, 2028, and a stated maturity date of March 15, 2028. The notes do not bear interest and expose holders to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc..

GS Finance Corp. offers structured notes linked to the Russell 2000®, Nasdaq-100® and the VanEck Gold Miners ETF (GDX) with an aggregate original face amount of $2,614,000 and an original issue date of March 13, 2026. The notes mature on March 13, 2029 unless redeemed earlier.

Each $1,000 face amount can pay a monthly coupon of $13.50 (1.35% monthly, up to 16.2% p.a.) only if every underlier’s closing level on the coupon observation date is at least 65% of its initial level. At maturity the cash settlement depends on the lesser performing underlier with downside buffers at 60% (trigger buffer) and coupon triggers at 65%. The estimated value at pricing was approximately $949 per $1,000, below the issue price; underwriting discount was 1%.

GS Finance Corp. offers two‑year, zero‑coupon indexed notes guaranteed by The Goldman Sachs Group, Inc. The notes (face amount $500,000 aggregate) are linked to an equally weighted basket of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF, trade date March 10, 2026, stated maturity March 15, 2028. For each $1,000 face amount, maturity pay‑off: full principal if final basket level ≥ 80% of initial; capped upside at $1,405 per $1,000 if basket return exceeds the cap (cap level = 140.5% of initial); if final basket level declines by more than 20%, payoff declines proportionally (loss = basket return + 20%). Initial basket level = 100; estimated value on trade date ≈ $985 per $1,000; original issue price = 100%, underwriting discount = 0.65%, net proceeds = 99.35%.

GS Finance Corp. offers callable S&P 500® Futures Excess Return Index‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes are expected to trade on March 13, 2026, have an expected original issue date of March 18, 2026, and a stated maturity expected to be March 19, 2029. The payout at maturity depends on the performance of the S&P 500® Futures Excess Return Index versus the initial level: if the final level exceeds the initial level the investor receives $1,000 plus 232.5% participation in the index return; if the final level is between 80% and 100% of the initial level the holder receives the face amount; if below 80% the holder suffers a pro rata loss. The issuer may redeem the notes on monthly call payment dates beginning March 18, 2027, for cash equal to $1,000 plus a specified call premium; a table of call dates and call premium amounts is included. The estimated value on the trade date 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. offers non‑interest notes linked to a 6‑stock private equity basket. The notes (expected original issue date March 17, 2026, trade date March 12, 2026) mature expected April 14, 2027 and pay a cash settlement based on the basket return from March 11, 2026 to the determination date.

If the final basket level is ≥ 75% of the initial level, holders receive the capped $1,182.50 per $1,000 face amount. If below 75%, losses apply: the buffer rate is ~133.33%, so holders lose ~1.3333% of face for each 1% the final basket declines below 75%. Estimated value on the trade date is $935–$965 per $1,000. The notes are unsecured, subject to issuer and guarantor credit risk, limited anti‑dilution protection and limited secondary market liquidity.

GS Finance Corp. is offering autocallable EURO STOXX 50® Index-Linked Notes due 2028, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on the call observation date for a fixed cash call payment of $1,145 per $1,000 face amount, and otherwise settle in cash at maturity based on the EURO STOXX 50® performance with a 150% upside participation and an 85% buffer level.

The offering price equals 100% of face amount, underwriting discount is 1.5%, and net proceeds to the issuer are 98.5%. The notes carry issuer and guarantor credit risk and expose investors to potential loss of principal, potentially the entire investment, if the final underlier level falls below the buffer level.

GS Finance Corp. is offering Trigger Autocallable Contingent Yield Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons only if both the Russell 2000® and the S&P 500® close at or above their coupon barriers on each observation date and may be automatically called beginning September 2026 if both indices meet or exceed their initial levels on a call observation date.

If not called, principal at maturity is contingent: holders receive $10 per $10 face amount only if both indices finish at or above their 60% downside thresholds; otherwise repayment is reduced pro rata by the lesser performing index return. The contingent coupon range is set between $0.19375 and $0.20625 per $10 per quarter (up to 7.75%–8.25% per annum range noted), the original issue price is 100.00% of face amount, underwriting discount 2.25%, and estimated model value on the trade date is between $9.50 and $9.80 per $10 face.

GS Finance Corp. is offering principal-protected-style notes linked to the S&P 500 Index, guaranteed by The Goldman Sachs Group, Inc. The notes have an upside participation rate of 120%, a trigger buffer of 70%, and pay no interest. The offering lists an aggregate face amount of $1,015,000, an original issue price of 100%, an underwriting discount of 2.75% and net proceeds to the issuer of 97.25%. The trade date is March 10, 2026, original issue date March 13, 2026, call observation date April 12, 2027 with call payment date April 15, 2027, and stated maturity March 15, 2029.

If the notes are automatically called on the call observation date because the closing level of the underlier is greater than or equal to the initial level, each $1,000 face amount would pay $1,106.50 on the call payment date. If not called, the amount at maturity depends on the final underlier level: gains at maturity participate at 120%, flat outcomes within the buffer result in return of principal, and declines below 70% expose investors to the full negative underlier return (you could lose your entire investment). The notes do not bear interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering principal-at-risk, cash-settled notes linked to the Russell 2000® Index. For each $1,000 face amount the notes pay no interest and mature on March 15, 2028 with final payoff determined on March 10, 2028 (subject to adjustment).

Key economics: upside participation of 200% subject to a maximum settlement amount of $1,300 per $1,000 face, a buffer at 90% of the initial level (buffer amount 10%) and a buffer rate of 100%. If the final level is below the buffer level, investors lose proportionally and may lose a substantial portion of principal. The offering is issued by GS Finance Corp. and unconditionally guaranteed by The Goldman Sachs Group, Inc. Trade date is March 10, 2026. Original issue price equals face amount; underwriting discount is 1%.

GS Finance Corp. offers $3,766,500 in Airbag In-Digital Securities linked to the S&P 500® Index due 2027, guaranteed by The Goldman Sachs Group, Inc. The securities pay a $10 face amount per unit and provide a 17.40% digital return at maturity if the final index level is greater than or equal to the 90.00% downside threshold of the initial index level (6,781.48). If the final index level is below that threshold, holders suffer downside exposure equal to approximately 1.1111% of face amount for every 1.00% decline beyond the 10.00% threshold and could lose their entire investment. Trade date is March 10, 2026, original issue date March 13, 2026, determination date November 30, 2027, and stated maturity date December 3, 2027. Payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc., and the estimated value at issuance (~$9.93 per $10 face) is less than the issue price.

GS Finance Corp. offers capped buffer GEARS linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The securities have an upside gearing of 2.00, an expected maximum settlement amount between $11.65 and $12.05 per $10 face (expected maximum return between 16.50% and 20.50%), a 10.00% buffer and a downside threshold of 90.00% of the initial index level. Trade date is expected March 27, 2026, original issue date expected March 31, 2026, determination date expected March 27, 2028, and stated maturity expected March 30, 2028. The estimated value on the trade date is expected to be between $9.45 and $9.75 per $10 face versus an original issue price of 100.00% of face (underwriting discount 2.00%, net proceeds 98.00%). Payments, including contingent principal at maturity, are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.; investors can lose a substantial portion of principal, up to 90.00% if the final index level is zero.

GS Finance Corp. / The Goldman Sachs Group, Inc. offers contingent income auto-callable notes linked to an ADS of Taiwan Semiconductor Manufacturing Company Limited that mature March 23, 2029. Each $1,000 principal security may pay contingent quarterly coupons (formula uses at least $29.50) and is callable early if the ADS closing price on any call observation date is greater than or equal to the initial share price. If the final share price is at or above the downside threshold (set at 50.00% of the initial share price) you receive $1,000 at maturity (plus any final contingent coupon). If the final share price is below the downside threshold, payment at maturity equals $1,000 × (final share price / initial share price) and could be substantially less or zero. The pricing supplement states an estimated value range of $915 to $975 per security and an underwriting discount of 2.25%.

GS Finance Corp. offers callable 10‑Year CMT Rate‑Linked Range Accrual Notes guaranteed by The Goldman Sachs Group, Inc. The notes trade on an expected March 12, 2026 and have an original issue price of 100.00% of face amount. Interest, if any, is paid quarterly and is calculated by multiplying the 10.375% interest factor by the fraction of scheduled reference dates in an interest period on which the 10‑year CMT rate is ≤ the 4.60% reference rate barrier. The issuer may redeem the notes at par on quarterly redemption dates beginning on or after March 16, 2027. Stated maturity is expected March 16, 2033. The prospectus discloses an estimated value at pricing between $917.40 and $957.50 per $1,000 face amount and an underwriting concession up to 2.50%.

GS Finance Corp. is offering non‑interest bearing structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, with a trade date expected March 17, 2026, an original issue date expected March 20, 2026 and a stated maturity expected March 24, 2034.

Notes may be automatically called on scheduled observation dates beginning March 17, 2027 if the index closing level is ≥ 90% of the initial level; the maximum cash settlement at maturity is $2,656 per $1,000 face amount. The notes reference an index that uses up to 500% leverage, a daily 6% per annum decrement, and a cap on daily leverage change of 100%. The estimated value at pricing is expected between $885 and $925 per $1,000 face amount, below the issue price.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-protected-style notes tied to three private-equity stocks with an automatic call feature. The notes have a $1,000 face amount reference and an 311.5% upside participation rate; they may be automatically called on the call observation date for a minimum cash payment of $1,200 per $1,000 face amount. If not called, the maturity payoff depends on the performance of the lesser performing index stock, with a 30% buffer threshold and complex payoff formulas that can produce positive or negative returns. The estimated value at pricing is expected to be between $885 and $925 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is pricing contingent income callable notes due March 23, 2028. These are principal-at-risk, unsecured notes tied to the worst-performing of the S&P 500®, Russell 2000® and Nasdaq-100®.

Each $1,000 note may pay a contingent quarterly coupon (illustrative minimum set at $30.00 per quarter in examples) only if each underlying index closes at or above a downside threshold of 70.00% of its initial index value on every index business day in the prior observation period. If any index is below its threshold during a period, that quarter’s coupon is $0.00. At maturity, if the worst-performing index is below its threshold, payment equals $1,000 multiplied by the worst-performing index performance factor (could be $0 to $700+ shown).

The issuer may redeem at its option on coupon dates from June 25, 2026 through December 23, 2027 at 100% of principal plus any coupon then due. Estimated value range at pricing is $920 to $980 per security; original issue price is 100% with a 2.00% underwriting discount. CUSIP 40058YF72.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent income callable securities linked to the worst-performing of the S&P 500®, Russell 2000® and Nasdaq-100® due March 23, 2028. The securities pay a contingent quarterly coupon of at least $21.875 per $1,000 only if each index closes at or above a 60.00% downside threshold on every index business day during the related quarterly observation period. If any underlying index falls below its downside threshold during a quarterly observation period, the coupon for that period is $0.00. At maturity (if not redeemed), holders receive $1,000 per security only if each final index value is >= the downside threshold; otherwise the maturity payment equals $1,000 times the worst performing index performance factor, which can be less than 60.00% of principal and could be zero. The issuer may redeem in whole (but not in part) on coupon dates from June 25, 2026 through December 23, 2027 at 100% of principal plus any coupon then due. Estimated value at pricing is in the range $920 to $980 per security and the underwriting discount is 2.00%.

GS Finance Corp. is offering contingent income auto-callable securities linked to the common stock of NVIDIA Corporation that mature on March 23, 2029 (expected original issue date March 25, 2026). Each security has a $1,000 stated principal and may pay a contingent quarterly coupon (at least $29.625 per coupon schedule) only if the underlying closing price on coupon observation dates is at or above a downside threshold equal to 50.00% of the initial share price. The securities are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc. and are automatically called if the underlying stock closes at or above the initial share price on any call observation date, in which case holders receive principal plus the contingent coupon then due. If not called and the final share price is below the downside threshold, holders suffer a 1:1 loss versus the share decline and may lose a significant portion or all principal. The pricing supplement states an estimated secondary-market value range of $910 to $970 per security and an underwriting discount of 2.25%. These securities do not provide upside participation in NVIDIA beyond returning principal and any contingent coupons and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering Buffered Digital S&P 500® Index‑Linked Notes due 2027, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the S&P 500 index performance measured from the trade date to the determination date. For each $1,000 face amount, holders receive up to a capped $1,118 if the final underlier level is greater than or equal to the buffer level (set at 90% of the initial underlier level). If the final underlier level is below the buffer level, holders lose 1% of face for each 1% decline below the buffer (buffer amount 10%, buffer rate 100%), potentially losing a substantial portion of principal. Trade date is March 13, 2026, original issue date March 18, 2026, determination date June 14, 2027, and stated maturity June 17, 2027. The notes are senior unsecured obligations issued under GS Finance Corp.'s Medium‑Term Notes, Series F program and carry issuer/guarantor credit risk.

GS Finance Corp. is offering $Buffered Digital S&P 500® Index-Linked Notes due, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on S&P 500 performance from the trade date to the determination date. If the final underlier level is at or above the buffer level (90% of the initial level), holders receive a maximum settlement amount expected between $1,100.30 and $1,117.70 per $1,000 face amount. If the final underlier level is below the buffer level, holders lose approximately 1.1111% of face amount for each 1% decline below the buffer and could lose their entire investment. The notes have an expected term with the determination date roughly 15–17 months after the trade date and a stated maturity shortly thereafter; terms and dates are subject to adjustment. Investors bear issuer and guarantor credit risk and should note that the original issue price exceeds the notes' estimated model value and that secondary market liquidity is uncertain.

GS Finance Corp. is offering S&P 500® Index‑linked notes due March 23, 2028, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return, per $1,000 face amount, either the face amount or an upside equal to the S&P 500 return capped at a $1,135 maximum settlement amount. Key dates shown: trade date March 18, 2026, original issue date March 23, 2026, and determination date March 20, 2028. These notes are treated as contingent payment debt instruments for U.S. federal income tax purposes; purchasers must use the issuer‑computed comparable yield to determine taxable accruals. Pricing models used by GS&Co. value the notes below original issue price, and secondary market liquidity is not assured.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2028 guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of 0.5417% per month (up to approximately 6.5% per annum) and are subject to an automatic call feature.

Coupons are paid only if each underlier (Nasdaq-100, Russell 2000, S&P 500) closes on a coupon observation date at or above a 65% coupon trigger level. If not called, the cash settlement at maturity on March 15, 2028 is based solely on the lesser performing underlier versus its initial level, with a 35% buffer amount and a 100% buffer rate; significant principal loss is possible.

GS Finance Corp. is offering Performance Leveraged Upside Securities (PLUS) linked to the Russell 2000® Index, expected to price on or about March 31, 2026 with an original issue date of April 6, 2026 and a stated maturity of July 6, 2027 (valuation date expected June 30, 2027, subject to adjustment). Each PLUS provides 300% leveraged upside on any positive index return up to a maximum payment of $1,226.00 per $1,000 principal. If the final index value is below the initial index value, principal is lost on a pro rata basis (1% loss per 1% index decline); there is no minimum payment.

The estimated model value at issuance is $910 to $970 per PLUS, original issue price is 100% of principal with an underwriting discount of 2.25%. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; investors are exposed to both issuers' credit risk.

GS Finance Corp. is offering autocallable, index-linked notes due April 1, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 and S&P 500 indices, have no interest, and include annual automatic-call provisions on specified observation dates.

The notes feature a 100% upside participation rate, a 15% buffer (buffer level = 85% of initial levels) and call premium amounts of 9%, 18% and 27% on the three annual call payment dates. If not called, the maturity payoff depends on the lesser performing underlier and can result in substantial losses; an example shows a final underlier level of 21.000% producing a cash settlement amount equal to 36.000% of face amount.

GS Finance Corp. is offering Auto-Callable Trigger PLUS notes linked to the Russell 2000® Index, guaranteed by The Goldman Sachs Group, Inc. The notes carry a 125.00% leverage factor and may be automatically called for at least $1,140 per $1,000 on the call payment date if the index on the call observation date is at or above the initial index value. If not called, the maturity payoff depends on the final index value: full principal plus a leveraged upside when the index is higher, full principal when the final index value is at or above 80.00% of the initial index value, and a pro rata loss down to zero if the final index value is below that downside threshold. Expected timeline key dates include pricing on or about March 31, 2026, original issue date April 6, 2026, call observation date expected April 7, 2027, and stated maturity date expected April 5, 2028. The estimated value range at pricing is $900 to $960 per $1,000 principal amount; original issue price is 100.00% with an underwriting discount of 2.50%.

GS Finance Corp. offers $3,100,000 of Trigger Autocallable Contingent Yield Notes due March 13, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a quarterly contingent coupon of $0.2175 per $10 face (up to 8.7% per annum) only if both the S&P 500® and EURO STOXX 50® close at or above their coupon barriers on observation dates. Commencing September 2026, the notes will be automatically called if both indices close at or above their initial index levels; at maturity the principal repayment is contingent on the lesser performing index relative to a 60% downside threshold, exposing investors to full downside market risk and the issuer/guarantor credit risk.

The pricing supplement discloses an estimated value of approximately $9.90 per $10 face at pricing and an original issue price of 100.00% of face with a 2.25% underwriting discount, implying net proceeds of 97.75% of face. The notes are part of GS Finance Corp.'s Medium-Term Notes, Series F program and are unsecured obligations guaranteed by Goldman Sachs.

GS Finance Corp. offers index-linked notes due March 25, 2031, guaranteed by The Goldman Sachs Group, Inc. The cash payment at maturity for each $1,000 face amount depends on the lesser-performing of the S&P 500® Futures Excess Return Index and the Nasdaq-100 Futures Excess Return™ Index, measured from the trade date (expected March 20, 2026) to the determination date (expected March 20, 2031). If both underliers finish >= their initial levels, the payout equals $1,000 plus 242% of the lesser-performing index return. If either underlier finishes below 70% of its initial level, the holder suffers a loss pro rata to that underlier return; finishes between 70% and 100% result in repayment of principal only. The estimated value on the trade date is between $885 and $925 per $1,000 face amount. Payments are subject to the issuer and guarantor credit risk and other structural, market and tax risks described in the supplement.

GS Finance Corp. is offering autocallable EURO STOXX 50® index-linked notes due March 23, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on March 31, 2027 with a capped call payment of $1,137.40 per $1,000, and otherwise settle in cash at maturity based on EURO STOXX 50 performance, with a 15% downside buffer (buffer level 85%). The trade date is March 18, 2026 and original issue date is March 23, 2026. The original issue price equals 100% of face amount, underwriting discount is 1.5%, and net proceeds to issuer are 98.5%.

GS Finance Corp. is offering autocallable, contingent-coupon, index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 indices, pay a contingent monthly coupon of $7.084 per $1,000 (0.7084% monthly; potential up to approximately 8.50% per annum) when each underlier is at or above a coupon trigger of 75% of its initial level, and are automatically called if on a call observation date each underlier is at or above its initial level. The cash settlement at maturity (if not called) depends solely on the lesser performing underlier and may result in a total loss of principal; a trigger buffer is set at 70% of initial levels. Trade date is March 23, 2026, original issue date March 26, 2026, and stated maturity is March 31, 2031. The calculation agent is Goldman Sachs & Co. LLC and the CUSIP/ISIN are 40058YEF5 / US40058YEF51.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due March 22, 2032, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and may pay a contingent monthly coupon of $12 (1.2% monthly, 14.4% per annum) when each underlier meets its coupon trigger. The underliers are the common stocks of Micron Technology (MU), NVIDIA (NVDA) and Tesla (TSLA). The notes are subject to an automatic call if all underliers are at or above their initial levels on a call observation date. GS&Co. is the calculation agent and market-maker; our estimated trade-date value is $885 to $925 per $1,000 face amount, below the original issue price.

The notes are debt of GS Finance Corp. and carry credit risk of GS and its guarantor, may not pay any coupons if triggers are missed, and may be redeemed early. Payments are cash only; holders receive no shareholder rights in the underliers. Tax treatment is as contingent payment debt instruments for U.S. federal income tax purposes.

GS Finance Corp. proposes structured, callable medium-term notes linked to the common stock of KKR & Co. Inc. Each note has a $1,000 face amount, an expected trade date of March 16, 2026, and an expected stated maturity of March 23, 2029. Coupons may pay up to 3.75% quarterly (15% per annum) when the index stock closing price on coupon observation dates is at or above 50% of the initial index stock price. Notes are automatically called if the index stock closing price on any call observation date is greater than or equal to the initial index stock price; in a call the holder receives face amount plus accrued coupon. At maturity, if the final index stock price is below 50% of the initial index stock price, holders receive an amount based on the index stock return and may receive less than 50% of face. The estimated value on the trade date is between $925 and $955 per $1,000 face amount. Payments depend on GS Finance Corp.'s and The Goldman Sachs Group, Inc.'s creditworthiness.

GS Finance Corp. is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes mature expected March 16, 2028 and may be automatically called on monthly observation dates beginning in June 2026 if the index closes at or above 90% of the initial level. Holders receive a $10 monthly coupon per $1,000 face amount (1% monthly) on an observation date when the index is at least 66% of the initial level. The index applies leverage up to 500%, caps daily leverage changes at 100%, and deducts a daily 6.0% per annum decrement. The issuer estimates the notes' value on the trade date between $925 and $955 per $1,000 face amount.

GS Finance Corp. offers S&P 500®-linked, callable notes with monthly contingent coupons through March 2027 and a stated maturity of March 14, 2030. The notes may pay a monthly coupon of $5.417 per $1,000 face amount (≈0.5417% monthly) only if the S&P 500 closing level is ≥ 85% of the initial index level on every trading day during each measurement period. If the notes are automatically called after the final observation (call observation date March 10, 2027), holders receive principal plus any then-due coupon. If not called, the maturity payout equals $1,000 plus 15% plus the index return applied to principal, so poor index performance can materially reduce principal (example: final index at 50% of initial → $650 per $1,000). The estimated value at pricing was approximately $987 per $1,000; original issue price was 100% of face amount.

GS Finance Corp. offers contingent quarterly coupon notes (aggregate face amount $5,710,000) linked to the Nasdaq-100, Russell 2000 and S&P 500. The notes pay a contingent quarterly coupon (up to 12.15% per annum) and may be automatically called prior to maturity.

Coupons are paid only if each underlier is >= its coupon trigger level (70% of its initial level) on observation dates. The cash settlement at maturity (stated maturity March 9, 2029) is based solely on the performance of the lesser performing underlier; if that underlier is below its trigger buffer level (60%), investors can lose a substantial portion or all of their principal. Initial underlier levels are the closing levels on March 6, 2026. Original issue price is 100% of face; underwriting discount 0.8%.

GS Finance Corp. is offering non-interest bearing notes linked to an equally weighted basket of six stocks with an initial basket level of 100. The notes mature on March 9, 2028 and have an automatic call feature on March 19, 2027. If the basket closing level on the call observation date is ≥ 100, each $1,000 face amount pays $1,158.90 on the call payment date. If not called, the maturity payoff uses a 125% upside participation rate for positive basket returns, a 20% buffer (buffer level = 80%), and a buffer rate equal to 125% for negative returns below the buffer. The estimated value on the trade date is approximately $938 per $1,000 face amount; original issue price is $1,000 (100%), underwriting discount 1.5%, net proceeds 98.5%. Payments depend on GS Finance Corp.'s and The Goldman Sachs Group, Inc.'s creditworthiness and on closing levels only on the call observation date or determination date as specified.

GS Finance Corp. is offering 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 settlement per $1,000 face amount at maturity tied to the S&P 500 performance from the trade date to the determination date.

The structure provides a 15% buffer (buffer level = 85% of the initial underlier level) so declines up to 15% at the determination date result in return of principal; losses occur for declines beyond the buffer. Upside is capped by a maximum settlement amount of $1,180 per $1,000. Key dates: trade date March 26, 2026, original issue date March 31, 2026, determination date September 27, 2027, stated maturity September 30, 2027 (subject to adjustment).

GS Finance Corp. issues 2,000,000 Stepdown Snowball Autocallable Notes at $10 principal linked to the worst-performing of the S&P 500® and the Russell 2000®. The notes pay no periodic interest, are automatically callable on two observation dates (March 15, 2027 and March 6, 2028) and offer 11.25% and 22.50% call premiums if called on the first or final Call Observation Date, respectively. If not called, holders face 1-to-1 downside to the Worst-Performing Market Measure from its Starting Value, with up to 100.00% of principal at risk; all payments are subject to the credit risk of GSFC and its guarantor, The Goldman Sachs Group, Inc.

GS Finance Corp. offers $1,000 face‑amount Autocallable Contingent Coupon Index‑Linked Notes due March 16, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $8.792 per $1,000 (potentially ~10.55% p.a.) when each underlier closes at or above its coupon trigger (80% of initial). They are callable early if both underliers close at or above their initial levels on a call observation date.

At maturity (if not called), the cash settlement per $1,000 depends solely on the lesser performing underlier (Nasdaq‑100 Technology Sector Index and S&P 500®). If that underlier finishes below its 80% buffer level, investors can suffer substantial losses (examples show losses up to 60% of principal at extreme declines). Pricing, credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., tax treatment, limited liquidity, and model valuation differences are disclosed.

GS Finance Corp. is offering Autocallable Index-Linked Notes due 2030, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the MSCI EAFE and EURO STOXX 50 underliers, trade on March 12, 2026, and have an original issue date of March 17, 2026. The notes pay no interest and feature an automatic quarterly call if each underlier closes at or above its initial level on a call observation date. If not called, maturity payoff depends solely on the lesser performing underlier: investors receive a capped upside (47.25% maturity premium) if performance is at or above initial levels, receive principal if the lesser underlier stays above an 80% buffer, or suffer a loss linked to the lesser performing underlier below the 80% buffer (buffer amount 20%, buffer rate 100%). The notes are cash-settled, not equity, and carry issuer/guarantor credit risk.

GS Finance Corp. is offering leveraged EURO STOXX 50 Index-linked notes due 2032, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and settle in cash at maturity based on the underlier's performance.

Key economics: an upside participation rate of at least 145%; a trigger buffer level at 60% of the initial underlier level (a trigger buffer amount of 40%). If the final underlier level is below the trigger buffer level, investors lose an amount equal to the underlier return times the face amount and could lose their entire investment. Trade date is March 27, 2026, original issue date April 1, 2026, determination date March 30, 2032, and stated maturity April 2, 2032. The notes are issued in $1,000 face-amount increments (CUSIP 40058YDW9).

GS Finance Corp. is offering $Callable Contingent Coupon Index-Linked Notes due March 25, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 Technology Sector Index, the Russell 2000® Index and the S&P 500® Index and pay a contingent monthly coupon of 0.6667% (~8.00% per annum) when each underlier is at or above a 70% coupon trigger level on the related observation date. Each note has a $1,000 face amount and a buffer structure that protects up to 30% of an underlier decline; the cash settlement at maturity is based solely on the lesser performing underlier. The issuer may redeem the notes on each coupon payment date commencing in June 2026 through February 2030. The trade date is March 20, 2026 and the original issue date is March 25, 2026. Risks include issuer and guarantor credit exposure, potential loss of principal if the lesser performing underlier falls below the buffer, uncertainty of coupon payments, limited liquidity and tax treatment uncertainty.

GS Finance Corp. offers $1,000,000 aggregate face amount of Autocallable Contingent Coupon Index-Linked Notes due March 13, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500, Russell 2000 and Dow Jones Industrial Average and feature monthly coupon observation dates, quarterly automatic call observation dates (beginning September 2027) and a determination date of March 10, 2031.

Coupons are conditional: a monthly coupon accrues only if each index is ≥84% of its initial level on a coupon observation date; automatic redemption occurs if on any quarterly call observation date each index is ≥ its initial level. At maturity the cash settlement depends on the lesser performing index with a 10% buffer and a buffer rate of approximately 111.11%. The estimated value at pricing was approximately $977 per $1,000 face amount; original issue price was 100% with a 0.6% underwriting discount.

GS Finance Corp. is offering contingent, principal‑at‑risk notes with an aggregate face amount of $15,970,000 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

Each $1,000 face amount note pays no interest and at maturity will settle in cash based on the performance of the S&P 500® Index measured from March 6, 2026 to the determination date. If the final index level is ≥ the 90% buffer level, holders receive a capped $1,096 maximum settlement per $1,000. If the final level is below the buffer, holders lose approximately 1.1111% of face for each 1% decline below the buffer and could lose their entire investment.

GS Finance Corp. is offering Autocallable Index‑Linked Notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the MSCI EAFE, Nasdaq‑100 and S&P 500 indices and carry a 150% upside participation rate and an 80% trigger buffer.

If, on the call observation date, each underlier is at or above its initial level the notes will be automatically called and pay $1,261 per $1,000 on the call payment date. If not called, maturity payoff depends on the lesser performing underlier: full principal preserved at or above the trigger buffer, otherwise losses pro rata (including potential loss of your entire investment). Trade date: March 11, 2026; original issue date: March 16, 2026; stated maturity date: March 15, 2029.

GS Finance Corp. offers $3,770,000 aggregate face amount of Trigger Callable Contingent Yield Notes due December 8, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons ($0.32875 per $10 face) only if each underlying index stays at or above its coupon barrier during each observation period and are callable by the issuer on coupon payment dates commencing June 10, 2026. At maturity payments depend solely on the lesser performing index versus its downside threshold (60% of initial level); if that index falls below the threshold, principal is reduced proportionally and investors can lose a substantial portion or all of their investment. The estimated trade-date value was approximately $9.83 per $10 face and the original issue price equals face amount.