Goldman Sachs Group (GS) 424B Filings

GS Finance Corp. is offering medium-term, cash-settled notes linked to the EURO STOXX 50® Index with an aggregate face amount of $4,063,000. The notes pay no interest, carry an upside participation rate of 200% and include an automatic call feature.

If the notes are automatically called on the call observation date, each $1,000 face amount will receive $1,128.60 on the call payment date. If not called, the maturity payout depends on the final underlier level versus the initial level and a trigger buffer of 70%; a final level below 70% could cause a loss of up to the entire investment. Trade date is March 9, 2026, original issue date March 12, 2026, call observation date March 15, 2027, determination date March 10, 2031 and stated maturity date March 13, 2031.

GS Finance Corp. is offering principal-protected contingent notes linked to the S&P 500® Index with an aggregate face amount of $970,000. The notes pay no interest, may be automatically called on the call observation date and mature on the stated maturity date if not called. If automatically called, each $1,000 face amount yields $1,128 on the call payment date. If not called, maturity payoffs depend on the final underlier level: an upside participation rate of 125% applies to positive returns; a buffer of 85% limits losses per the disclosed buffer formula, and losses can result in a total loss of invested principal. The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., carry issuer and guarantor credit risk, are not bank deposits, and are not FDIC insured.

GS Finance Corp. is offering structured, autocallable notes tied to three individual stocks. The notes have a $1,000 face amount per note, an expected trade date of March 17, 2026, an expected original issue date of March 20, 2026, and an expected stated maturity of March 26, 2029. Coupons may pay monthly if each index stock meets a 60% threshold on observation dates; automatic redemption begins on observation dates commencing in March 2027. At maturity, unpaid principal depends on the lesser performing index stock with a 50% trigger buffer; a final index return below -50% can cause losses exceeding 50% of principal. The estimated value at pricing is between $925 and $955 per $1,000 face amount.

GS Finance Corp. files a preliminary prospectus supplement to offer non‑interest bearing, autocallable notes linked to an equally weighted basket of 8 stocks. The notes have an initial basket level of 100, an upside participation rate of 125%, a buffer of 10% (buffer level 90%), an expected call observation date of March 23, 2027 and an expected stated maturity of March 15, 2028. If called, each $1,000 face amount would pay $1,206.3 on the call payment date; at maturity payments depend on the final basket level and may be less than principal. The estimated value at pricing is between $900 and $930 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc.; holders are exposed to issuer and guarantor credit risk and have no shareholder rights in the basket stocks.

GS Finance Corp. is offering autocallable index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the STOXX® Europe 600 and the S&P 500®, have an expected trade date of March 13, 2026, expected original issue date of March 18, 2026 and an expected stated maturity of March 18, 2031. The notes pay no interest and may be automatically called on the call observation date (expected March 15, 2027) if each index is ≥ its initial level; the automatic call payment would be $1,170.508 per $1,000 face amount. At maturity the payoff is based on the lesser performing index: if both indices finish above their initial levels you receive 200% participation in the lesser performing index return; if any index is ≥ 75% of its initial level you receive the face amount; if any index is < 75% you receive an amount tied to the lesser performing index return and could lose principal. The estimated value at pricing is approximately $885–$925 per $1,000 face amount. Investors remain subject to issuer and guarantor credit risk and to index, market, FX and tax risks.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable S&P 500® Index‑linked notes with a $1,000 face amount reference per note. The notes have an expected trade date of March 11, 2026, an original issue date of March 16, 2026, an expected call observation date of March 24, 2027 and a stated maturity date of March 16, 2028.

If the closing level of the S&P 500® Index on the call observation date is greater than or equal to the initial index level, the notes will be automatically called and pay $1,096.2 per $1,000 face amount on the call payment date. At maturity (if not called), payoffs: a) if final index level ≥ initial level, the greater of the threshold settlement amount $1,192.4 or principal plus participation (100% upside); b) if decline ≤ 30%, return of $1,000; c) if decline > 30, a proportional loss (you could lose most or all of your investment). The estimated value on the trade date is between $900 and $930 per $1,000 face amount.

GS Finance Corp. offers callable contingent coupon index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent quarterly coupon of at least $20.125 per $1,000 (at least 2.0125% quarterly, up to 8.05% per annum) when both underliers meet coupon triggers.

Payment at maturity is based on the performance of the lesser performing underlier (the Russell 2000® and the S&P 500®). The coupon trigger and trigger buffer levels equal 55% of each initial underlier level. The issuer may redeem the notes on coupon payment dates beginning in October 2026. The prospectus warns you could lose your entire investment and highlights issuer and guarantor credit risk and that the estimated value at issuance is less than the original issue price.

GS Finance Corp. is offering $ Callable Contingent Coupon Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Russell 2000® and S&P 500® indices, pay a contingent quarterly coupon of at least 1.7125% (at least 6.85% per annum) when each underlier is at or above a 55% coupon trigger, and mature on April 1, 2031.

Trade date is March 27, 2026 and original issue date is April 1, 2026. The issuer may redeem the notes in whole (but not in part) on coupon payment dates commencing in October 2026 through January 2031. At maturity, the cash settlement per $1,000 face amount is either $1,000 or $1,000 plus $1,000 multiplied by the lesser performing underlier return; upside at maturity is capped at 100% of face amount. Investors bear issuer/guarantor credit risk and may lose their entire investment if the lesser performing underlier falls sufficiently below its trigger buffer.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering S&P 500® Index‑linked notes with an expected trade date of March 27, 2026, original issue date of April 1, 2026 and a stated maturity expected to be October 2, 2031. Each note has a $1,000 face amount and pays no interest; maturity payment depends on the S&P 500® Index return from the trade date to the determination date.

Key economic terms set on the trade date include an upside participation rate of 100%, a cap level of at least 154.4% (maximum settlement amount of at least $1,544 per $1,000 face amount) and a minimum settlement amount of $900. The estimated value at term‑setting is expected to be between $885 and $935 per $1,000 face amount. Notes are unsecured obligations of the issuer, are guaranteed by Goldman Sachs, and are subject to the issuer’s and guarantor’s credit risk; secondary market liquidity is not assured.

GS Finance Corp. is offering autocallable S&P 500® index-linked notes due March 15, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes have an initial underlier level of 6,781.48, an upside participation rate of 200% and a buffer level of 85%. If the closing level on the call observation date is greater than or equal to the initial level, the notes will be automatically called and pay $1,094.10 per $1,000 face amount on the call payment date. If not called, maturity payoffs vary by final underlier level, including scenarios where investors can lose a substantial portion or all of their investment. Trade date is March 11, 2026 and original issue date is March 16, 2026. The offering price is 100% of face amount with an underwriting discount of 1.5% and net proceeds of 98.5%.

The Goldman Sachs Group, Inc. offers callable fixed-rate medium-term notes due March 13, 2031 bearing interest at 4.75% per annum, with interest expected to accrue from the original issue date (expected March 13, 2026) and payable semiannually on expected March 13 and September 13 each year.

The notes are callable in whole (but not in part) on expected semiannual redemption dates on or after March 13, 2028 at 100% of principal plus accrued interest, with at least five business days’ notice. The offering will settle through DTC in New York on expected March 13, 2026. The pricing supplement supplements the February 14, 2025 prospectus and prospectus supplement and incorporates standard tax, distribution, and jurisdictional sale restrictions.

GS Finance Corp. is offering autocallable, contingent-coupon, index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® and Russell 2000® indices, have a face amount of $1,000 per note, a monthly coupon of $5.917 (0.5917% monthly, ~7.1% annually) when both indices meet triggers, and an expected stated maturity of April 3, 2031.

Notes may be automatically called on observation dates if both indices trade at or above their initial levels (initial levels set on the trade date, expected March 27, 2026). The principal at maturity (if not called) is determined by the lesser-performing index versus buffer levels (85% buffer, 80% coupon trigger), exposing holders to substantial downside; estimated value on the trade date is between $885 and $925 per $1,000 face amount.

GS Finance Corp. offers Trigger Autocallable GEARS linked to the EURO STOXX 50® Index, guaranteed by The Goldman Sachs Group, Inc. The securities pay based on the index performance, may be automatically called on March 22, 2027, and mature on March 18, 2031 if not called. Key economics: $10 face amount, 2.00 upside gearing, 75.00% downside threshold, and a call return expected between 16.50% and 17.10%. The estimated value at issuance is between $9.40 and $9.70 per $10 face amount and the original issue price equals face amount less a 2.00% underwriting discount. Payments depend on index levels on the call observation date and determination date and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering non‑interest notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (the underlier). The notes have an expected trade date of March 16, 2026, an original issue date of March 19, 2026, and an expected stated maturity date of March 23, 2034. The notes are subject to automatic redemption on specified call observation dates beginning in March 2027 if the closing level of the underlier is greater than or equal to the initial underlier level. If not called, maturity payoff depends on the underlier return, is capped at a $2,632 maximum settlement per $1,000 face amount, and includes a 6.0% per annum daily decrement. The estimated value at pricing is between $885 and $925 per $1,000 face amount. Payments are subject to the issuer and guarantor credit risk and investors may lose their entire investment.

GS Finance Corp. offers medium-term notes linked to the common stock of Tesla, Inc. The notes pay a contingent quarterly coupon of $36.20 per $1,000 (3.62% quarterly, up to 14.48% per annum) only when the underlier closing level on an observation date is at least 50% of the initial underlier level. The notes are automatically called early if the underlier closes at or above the initial underlier level on any call observation date.

At maturity (stated maturity March 14, 2029), if the notes are not called the cash settlement per $1,000 depends on the final underlier level: if the final level is below the 50% trigger buffer level you bear downside equal to the underlier return and could lose your entire investment. The offering is backed by a guarantee from The Goldman Sachs Group, Inc., aggregate face amount shown as $5,235,000, original issue price 100% with underwriting discount 2%.

GS Finance Corp. is offering autocallable EURO STOXX 50® Index-linked notes due March 16, 2028, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note may be automatically called on the March 24, 2027 call observation date if the underlier's closing level is greater than or equal to the initial level; the call payment would be $1,142 per $1,000. If not called, maturity payoffs on March 16, 2028 depend on the final underlier level: upside participation is 150%, a buffer applies at 85% of the initial level, and the buffer rate is approximately 117.65%. The notes pay no interest, are cash-settled, and expose investors to issuer and guarantor credit risk and potential complete loss of principal if the final underlier level is sufficiently low.

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 are expected to trade on March 27, 2026 with an original issue date of April 1, 2026 and a stated maturity expected on April 1, 2031. Coupons are discretionary and may total up to 6.75% per annum (paid quarterly) only when the index closing level on a coupon observation date is at least 70% of the initial level. The index applies leverage (up to 500%), a daily cap on leverage change, and a 6.0% per annum daily decrement. The estimated indicative value on the trade date is between $885 and $935 per $1,000 face amount. Payments are unsecured obligations of GS Finance Corp. and subject to issuer and guarantor credit risk.

GS Finance Corp. is offering fixed‑coupon underlier‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay a coupon of $8.459 per $1,000 (0.8459% monthly, ~10.15% per annum) with an expected trade date of March 11, 2026 and an expected stated maturity of March 16, 2028.

Principal at maturity (per $1,000 face amount) is linked to the performance of two underliers: the Invesco QQQ, Series 1 (initial level $607.77) and NVIDIA Corporation common stock (initial level $184.77). If the final level of each underlier is at least 50% of its initial level, the cash settlement amount equals $1,000. If any underlier finishes below that trigger buffer, the holder receives $1,000 plus the product of the lesser performing underlier return times $1,000, which can result in substantial loss of principal. The estimated value at pricing is expected between $925 and $955 per $1,000.

GS Finance Corp. offers autocallable S&P 500® index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc.

Each note has a $1,000 face amount, an upside participation rate of 170%, a buffer level of 90% (buffer amount 10%, buffer rate 100%), and no interest. If the underlier is ≥ the initial level on the call observation date, notes are automatically called and pay $1,075 per $1,000 on the call payment date. If not called, maturity payments depend on final index performance: gains participate at 170%, full principal is preserved only if final level ≥ buffer level, and losses apply if final level < buffer level. The trade date is March 13, 2026, original issue date March 18, 2026, determination date March 13, 2029, and stated maturity date March 16, 2029. The offering price is 100% of face with a 2% underwriting discount (net proceeds 98% of face). The notes are subject to issuer/guarantor credit risk and may result in a substantial loss of principal.

GS Finance Corp. offers $ Buffered S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note returns a cash payment at maturity linked to the S&P 500® performance from the March 24, 2026 trade date to the September 24, 2027 determination date.

If the final index level exceeds the initial level, holders receive the index return up to a maximum settlement amount of $1,172.50 per $1,000 face amount. If the final level is between the initial level and the buffer level of 90%, holders receive the face amount. If the final level falls below the buffer level by more than the 10% buffer, holders lose principal proportionally; example outcomes are shown in the pricing table. The notes pay no interest and are subject to issuer/guarantor credit risk, limited secondary-market liquidity, pricing model discounts at issuance, and uncertain U.S. federal income tax treatment.

GS Finance Corp. proposes non-interest medium-term notes guaranteed by The Goldman Sachs Group, Inc. linked to three stocks: Robinhood Class A, AppLovin Class A and Oracle common stock. The notes mature March 26, 2029 unless automatically called on specified observation dates beginning March 19, 2027. If automatically called, each $1,000 face amount pays principal plus a call premium; call levels step down and call premiums step up over time. At final maturity the cash payment depends on the lesser performing index stock: if its final price is at least 50% of its initial price, the cash payment equals $2,408.5 per $1,000 face amount; otherwise payment equals $1,000 plus the lesser performing index stock return times $1,000, which can result in losses down to and below 50% of face. The estimated value on the trade date is between $925 and $955 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk and limited anti-dilution protections.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500® index-linked notes with an expected trade date of March 27, 2026 and a stated maturity expected on October 2, 2030.

Each note has a face amount of $1,000. The notes pay no interest and deliver a cash settlement at maturity based on the S&P 500® performance from the initial level to the determination date. Key terms set on the trade date include an upside participation rate of 100%, a cap level of 155.7%, a maximum settlement amount of $1,557 per $1,000, and a minimum settlement amount of $900. The estimated value on the trade date is stated as between $895 and $945 per $1,000, which is below the original issue price of 100% of face amount. The notes are unsecured obligations subject to the credit risk of the issuer and guarantor. Market making by GS&Co. is possible but not guaranteed and the notes will not be exchange-listed.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-at-risk, non-interest-bearing indexed notes linked to an equally weighted basket of seven common stocks. The notes have an initial basket level of 100, an upside participation rate of 125%, a trigger buffer level of 65%, an expected trade date of March 27, 2026, an expected call observation date of March 29, 2027 (automatic call pays $1,186 per $1,000 face amount), and an expected stated maturity of March 30, 2029. If not called, payoff at maturity depends on the basket return: positive returns receive 125% participation; declines greater than 35% result in proportional losses. The estimated value at pricing is between $925 and $965 per $1,000 face amount. Credit risk is that of GS Finance Corp. and The Goldman Sachs Group, Inc.

Goldman Sachs provides an index supplement addendum for the S&P 500® Futures 40% VT Adaptive Response Index (USD) ER, describing the index methodology, historical and hypothetical performance, and key metrics used for securities linked to the index. The index launched on December 27, 2024 and uses a rules-based overlay to adjust exposure to the S&P 500® Futures Excess Return Index with a maximum exposure of 500% and a maximum daily change in leverage of 100%.

The addendum discloses comparative annualized returns and annualized volatility through February 27, 2026, including a 1-year annualized return of 2.12% and annualized volatility of 44.04%. The document states the index exposure on February 27, 2026 was 383.15%. The filing notes that performance prior to the launch date is hypothetical and was obtained from the index sponsor.

GS Finance Corp. is offering principal-protected contingent notes linked to an equally weighted basket of seven stocks (AMD, Alphabet, Analog Devices, CDW, Coherent, Kratos, NVIDIA). The initial basket level is 100; trade date is expected March 27, 2026, call observation date expected March 29, 2027, and stated maturity expected March 30, 2029.

If the basket is at or above 100 on the call observation date the notes are automatically called and pay $1,140 per $1,000. At maturity, if not called, upside participates at 125% for positive basket returns; a trigger buffer of 65% protects against moderate declines; losses occur if the final basket level is below the trigger buffer.

GS Finance Corp. is registering $10,000,000 aggregate principal amount of floating rate notes due March 11, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly interest at compounded SOFR plus 1.20%, subject to a 0.50% minimum, with an original issue price of 100% and an underwriting discount of 0.35%.

Trade date is March 9, 2026 and original issue (settlement) date is March 11, 2026. Interest payments are scheduled each March 11, June 11, September 11 and December 11 beginning June 11, 2026. The calculation agent is Goldman Sachs & Co. LLC.

The Goldman Sachs Group, Inc. is offering floating rate notes tied to compounded SOFR. The notes are expected to be issued on March 13, 2026, pay interest quarterly beginning June 13, 2026, and mature on March 13, 2031.

Interest will equal compounded SOFR plus a 1.28% spread, floored at 0.00% per annum and capped at 6.00% per annum. The notes are unsecured obligations, not FDIC insured, and Goldman Sachs & Co. LLC will act as calculation agent and initial purchaser.

GS Finance Corp. offers autocallable S&P 500® Index‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes have an initial underlier level of 6,781.48, an 150% upside participation rate and an 80% trigger buffer. If the call observation condition is met on March 23, 2027, each $1,000 face amount will be redeemed on the call payment date for $1,118.60. If not called, maturity is March 15, 2028, and the cash settlement depends on final underlier performance on March 10, 2028. The notes pay no interest, carry issuer and guarantor credit risk, and may result in a total loss if the final underlier level is below the trigger buffer.

Goldman Sachs published an index supplement addendum dated March 11, 2026 for the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER (Bloomberg: SPAR4V6). The supplement describes an index that seeks volatility‑adjusted exposure to the S&P 500® Futures Excess Return Index with a rules‑based overlay, subject to a maximum exposure of 500%, a maximum daily leverage change of 100%, and a daily decrement of 6.0% per annum.

The index launch date is December 27, 2024, with historical/hypothetical data shown back to January 4, 2000; hypothetical performance is used for periods prior to the launch. The supplement reports the index exposure to the futures index was 383.15% on February 27, 2026 and includes comparative annualized returns and volatility versus the S&P 500® and the S&P 500® Futures Excess Return Index.

Goldman Sachs published an index supplement addendum for the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER (Bloomberg: SPAR4V4) describing a rules-based, volatility-adjusted exposure overlay to the S&P 500® Futures Excess Return Index with a 4.0% per annum daily decrement. The index permits up to 500% exposure and a maximum daily leverage change of 100%, and it adjusts exposure daily based on calendar signals and price patterns.

The supplement reports index metrics through February 27, 2026: annualized returns of -1.94% (1 year), 16.96% (3 years), and 11.23% (5 years); annualized volatility near 42%; and index exposure of 383.15% on February 27, 2026. Historical data prior to the index launch on December 27, 2024 are hypothetical and were produced by the index sponsor.

GS Finance Corp. is offering Digital S&P 500® Index-Linked Notes due March 16, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and have a structured maturity payoff tied to the S&P 500 (Bloomberg: SPX Index). For each $1,000 face amount the payoff is: the $1,223.50 maximum settlement amount if the final level is ≥ the initial level; $1,000 if the final level is below the initial but ≥ the 75% trigger buffer level; or $1,000×(1 + underlier return) if the final level is below 75%—so losses occur dollar-for-dollar below the buffer (the trade date is March 11, 2026 and the determination date is March 13, 2028, terms subject to adjustment).

GS Finance Corp. offers $ Buffered Digital Russell 2000® Index-Linked Notes due March 17, 2027, guaranteed by The Goldman Sachs Group, Inc.

The notes pay no interest and provide a capped upside of $1,153 per $1,000 face amount if the Russell 2000 final level on the determination date is at or above the initial level of 2,548.078. They provide a full face amount repayment if the final level declines up to the 10% buffer (buffer level = 90% of the initial level) and expose holders to proportional principal loss if the underlier falls below the buffer.

GS Finance Corp. offers autocallable contingent coupon index-linked notes due March 18, 2030, guaranteed by The Goldman Sachs Group, Inc. The offering registers an aggregate face amount of $2,816,000 and an original issue price of 100% of face amount. Coupons: $7.709 per $1,000 (0.7709% monthly, ~9.25% per annum) payable on a coupon payment date only if each underlier is ≥ 60% of its initial level on the related coupon observation date. The notes are automatically called on a call payment date if, as measured on any call observation date commencing September 2026, each index is ≥ 95% of its initial level; call observation dates run through February 2030. At maturity (determination date March 11, 2030), if not called, the cash settlement amount for each $1,000 depends on the lesser performing index return and a trigger buffer set at 55% of initial levels, meaning investors may lose a substantial portion of principal if the worst index falls below that buffer. The pricing supplement states the estimated value on the trade date is approximately $990 per $1,000 face amount; underwriting discount is 0.85%.

GS Finance Corp. offers autocallable index-linked notes guaranteed by The Goldman Sachs Group, Inc., linked to the S&P 500, Nasdaq-100 and Russell 2000. Notes have an expected trade date of March 20, 2026, an expected original issue date of March 25, 2026, an expected automatic call observation date of March 22, 2027 (call payment March 29, 2027) and an expected stated maturity of March 27, 2029.

If all three indices are at or above their initial levels on the call observation date, each $1,000 face amount will be redeemed for $1,160. If not called, the maturity payment is based solely on the lesser performing index: up to $1,000 plus 125% of the lesser performing index return if all final levels exceed their initials; the absolute value of a negative lesser return when every final level is at least 65% of its initial; otherwise the payout equals $1,000 plus the (negative) lesser performing index return, which can produce losses exceeding 35% and result in receiving less than 65% of face. The estimated value on the trade date is between $925 and $955 per $1,000 face amount; original issue price is 100% of face.

GS Finance Corp. issued principal-protected-style notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 and Russell 2000, have an upside participation rate of 150% and a 15% buffer (buffer level = 85% of initial).

The notes pay no interest, may be automatically called on the call observation date March 8, 2027 (call payment March 15, 2027) if each underlier is ≥ its initial level; in that event the cash per $1,000 face amount is $1,152.50. If not called, final payoff at stated maturity March 13, 2029 is based solely on the lesser performing underlier as measured on the determination date March 6, 2029, with potential for substantial principal loss (example: a final lesser underlier level of 21% yields a cash settlement of 36% of face, a 64% loss).

GS Finance Corp. is offering buffer‑protected, autocallable notes guaranteed by The Goldman Sachs Group, Inc. The offering is for an aggregate face amount of $908,000 with an original issue price of 100% of face amount and an underwriting discount of 4.25%.

The notes reference the Nasdaq-100 (NDX), Russell 2000 (RTY) and S&P 500 (SPX), bear no interest, and have an upside participation rate of 100%. They include a buffer equal to 20% (buffer level = 80% of initial). Semi‑annual automatic call observation dates begin on March 8, 2027 with escalating call premiums; the determination date is March 6, 2031 and the stated maturity date is March 13, 2031.

The payment at maturity (if not called) depends solely on the lesser performing underlier. If the lesser performing underlier falls to 20% of its initial level, the cash settlement would be 40% of face amount, i.e., a 60% loss on each $1,000 face amount. The notes are cash‑settled, not equity, and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Autocallable Goldman Sachs Momentum Builder® Focus ER Index-Linked Notes due 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, carry a 100% upside participation rate and a 102% call level; they may be automatically called on specified annual observation dates with graduated call premiums (11.25%–67.50%). The trade date is March 20, 2026, original issue date March 25, 2026, and stated maturity is March 29, 2033 (determination date March 22, 2033). GS&Co.’s estimated value on the trade date is $850 to $880 per $1,000 face amount, which is less than the original issue price. The notes reference the Goldman Sachs Momentum Builder® Focus ER Index (Bloomberg: GSMBFC5 Index), which applies a 5% realized volatility control, daily rebalancing and a 0.65% per annum deduction; the index may allocate a substantial portion to hypothetical cash positions, and the cash settlement at maturity is no less than the face amount.

GS Finance Corp. offers callable, contingent coupon index‑linked notes due February 25, 2028, guaranteed by The Goldman Sachs Group, Inc. Coupons of $9.875 per $1,000 may be paid monthly if each index meets a 65% observation threshold.

The maturity payout is linked to the lesser performing index (Dow Jones Industrial Average®, Nasdaq‑100®, EURO STOXX 50®) and is subject to a 70% trigger buffer; final principal can be reduced pro rata and may result in losses up to the full principal. The notes are subject to issuer redemption from June 2026 through January 2028 and carry issuer and guarantor credit risk.

GS Finance Corp. is offering non‑interest medium‑term notes guaranteed by The Goldman Sachs Group, Inc. linked to an equally weighted basket of six private-equity-related stocks with an initial basket level of 100. The notes carry an upside participation rate of 300% and a cap level set on the trade date (expected between 114.37% and 116.9%) that limits the maximum settlement amount (expected between $1,431.1 and $1,507 per $1,000 face amount). The determination date is expected ~13–15 months after the trade date and the stated maturity is expected three scheduled business days after that determination date. The estimated value at pricing is expected to be between $945 and $975 per $1,000 face amount, and payments at maturity depend on the basket return and are subject to credit risk of the issuer and guarantor.

GS Finance Corp. is offering autocallable, EURO STOXX 50® index-linked notes due 2031 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an automatic call feature and a cash settlement tied to the EURO STOXX 50® performance.

For each $1,000 face amount, an automatic call pays $1,220 if the underlier's closing level is greater than or equal to the initial level on the call observation date. At maturity the cash settlement depends on the final underlier level, a 125% upside participation rate and a 70% trigger buffer; investors may lose their entire investment if the final level is below the trigger buffer.

GS Finance Corp. is offering leveraged, index-linked notes tied to the Russell 2000 with a stated maturity in 2029, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount pays at maturity based on the Russell 2000 performance from the trade date to the determination date, with a 200% upside participation capped at a $1,410 maximum settlement amount. If the final index level falls below 80% of the initial level, investors lose proportionally and could lose their entire investment. Key dates include trade date March 31, 2026, original issue date April 6, 2026, determination date April 2, 2029, and stated maturity April 5, 2029. The notes do not pay interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering market-linked notes guaranteed by The Goldman Sachs Group, Inc., linked to an unequally weighted basket of five equity indices. The basket weights: EURO STOXX 50 40%, Nikkei 225 25%, FTSE 100 17.5%, SMI 10%, S&P/ASX 200 7.5%. The participation rate will be set on the trade date and is expected to be between 102.00% and 106.10%. Trade date is expected to be March 13, 2026, original issue date March 17, 2026, determination date March 13, 2031, and stated maturity date March 17, 2031. At maturity, if the final basket level exceeds the initial level (100), holders receive principal plus the positive basket return times the participation rate; if not, holders receive the face amount per $1,000 note. The notes pay no interest, are unsecured, subject to issuer and guarantor credit risk, may be illiquid, and have an estimated value on the trade date of between $920 and $950 per $1,000 face amount. Original issue price is 100.00% with underwriting discount 3.50% and net proceeds 96.50% of face amount.

GS Finance Corp. offers structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER (Bloomberg: SPAR4V6). The notes have an aggregate face amount of $1,120,000, mature on March 9, 2029 and may be redeemed quarterly by the issuer beginning March 2027.

Coupons are conditional: a coupon for each $1,000 face amount equals $10 times the number of qualifying coupon observation dates (1% monthly) less prior coupons, paid only when the underlier closing level ≥ 52.25% of the initial level. The index applies a daily 6.0% per annum decrement and may use up to 500% leverage. The estimated value at pricing was approximately $962 per $1,000 face amount.

GS Finance Corp. is offering leveraged, callable, S&P 500® Futures Excess Return Index‑linked notes due March 18, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes provide 450% upside participation if the final underlier level exceeds the initial level set on the trade date (March 17, 2026). If the index return is zero or negative on the determination date, holders receive the $1,000 face amount. The issuer may redeem the notes on monthly call payment dates beginning in March 2027 through February 2033 for $1,000 plus a specified call premium (table attached). Estimated value at pricing is between $885 and $925 per $1,000 face amount; original issue price is 100% of face. Payments depend on the futures‑linked underlier (not the S&P 500® index), are subject to issuer and guarantor credit risk, negative roll/financing effects on the underlier, and special U.S. tax rules for contingent payment debt instruments.

GS Finance Corp. priced structured notes (aggregate face amount $28,145,000) maturing on September 11, 2030 with quarterly contingent coupons of $28 per $1,000 (2.8% quarterly) and an issuer call from March 2027 through June 2030.

Coupons pay only if each underlier (Russell 2000®, S&P 500® and iShares® MSCI EAFE ETF) stays at or above 80% of its initial level during a quarterly observation period; principal at maturity is protected only if each final underlier level is ≥ 60% of its initial level, otherwise repayment is reduced pro rata by the lesser performing underlier return. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and have an estimated value at pricing of $972 per $1,000 face amount versus an issue price of 100%.

GS Finance Corp. offers callable, monthly‑coupon notes guaranteed by The Goldman Sachs Group, Inc. The notes reference four stocks (TSM ADS, Broadcom, Meta Platforms Class A, AMD) with monthly coupon triggers set at 75% of each stock's initial price. Coupons pay either $7.292 (maximum) or $0.209 (minimum) per $1,000 face amount on each coupon payment date. The notes may be automatically called on observation dates beginning in March 2027 through February 2031, and are expected to mature on or about April 3, 2031. The trade date is expected to be March 27, 2026, and the original issue date is expected to be March 31, 2026. The estimated value on the trade date is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering underlier-linked notes due 2029, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

Each $1,000 note pays no interest and at maturity provides a cash settlement tied to the lesser performing underlier of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF. Key economics include an upside participation rate of 295%, a maximum settlement amount of $1,600 per $1,000 face amount, and a trigger buffer level of 70% of the initial underlier level. Trade date is March 13, 2026, original issue date March 18, 2026, determination date March 13, 2029 and stated maturity March 16, 2029. If the final level of the lesser performing underlier is below the trigger buffer, holders suffer proportional principal losses and may lose their entire investment.

GS Finance Corp. is offering structured callable notes linked to the common stocks of Tesla, Inc., Alphabet Inc. (Class A) and NVIDIA Corporation with an aggregate face amount of $500,000 on the original issue date. The notes mature on March 11, 2027 but are subject to automatic redemption on observation dates beginning in June 2026 if each index stock closes at or above its initial price.

Quarterly coupons of $32.875 per $1,000 face amount (3.2875% quarterly, 13.15% per annum) are payable only if each index stock on a coupon observation date is at least 50% of its initial price. At maturity, if a trigger event occurs (all final prices below initial prices), payment depends on the least-performing stock and may be significantly less than principal; if no trigger event occurs, the face amount is returned and a final coupon may be paid if coupon conditions are met. The estimated initial valuation was approximately $961 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering contingent monthly coupon notes linked to the Nasdaq-100, Russell 2000 and S&P 500. For each $1,000 face amount, coupons of $10.042 may be payable monthly if each underlier closes at or above 70% of its initial level on observation dates. At maturity, if not redeemed, the cash settlement depends solely on the lesser performing underlier: you receive $1,000 if that underlier is at or above 70% of its initial level; otherwise you receive $1,000 plus $1,000 times the lesser performing underlier return, which can result in a total loss of principal. The issuer may redeem the notes on quarterly coupon payment dates commencing in June 2026 through December 2028. Trade date is March 6, 2026, original issue date March 11, 2026, and stated maturity date March 12, 2029.