Goldman Sachs Group Inc. 424B Filings

The Goldman Sachs Group, Inc. is offering $12,377,000 principal amount of Callable Fixed Rate Notes due March 6, 2046 under its Medium-Term Notes, Series N program. The notes pay interest at 5.75% per annum from the original issue date (March 6, 2026) and are callable in whole on specified quarterly redemption dates beginning March 6, 2028, at a redemption price equal to 100% of principal plus accrued interest. The notes will be issued in book-entry form through DTC and were initially priced at 100% of principal with underwriting discounts totaling $128,473.26.

GS Finance Corp. is offering leveraged, buffered Russell 2000® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return is tied to the Russell 2000 performance from the March 10, 2026 trade date to the March 10, 2028 determination date with maturity on March 15, 2028. Key terms: 200% upside participation, a $1,300 per $1,000 maximum settlement, a 10% buffer protecting losses up to a 90% buffer level, and full principal exposure below the buffer. The notes are cash-settled and subject to issuer and guarantor credit risk and model-based pricing.

The Goldman Sachs Group, Inc. offers $9,000,000 of Callable Fixed Rate Notes due September 6, 2033 with a fixed interest rate of 5.00% per annum from the original issue date of March 6, 2026.

Interest is payable annually on March 6 (first payment March 6, 2027). The issuer may redeem the notes in whole, with at least five business days' prior notice, on each March 6, June 6, September 6 and December 6 on or after March 6, 2027, at 100% of principal plus accrued interest.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers structured notes maturing March 18, 2031 (expected). The notes pay no interest and are subject to an automatic call feature beginning on March 11, 2027 if all three underliers close at or above their initial levels, producing a redemption equal to $1,000 plus the applicable call premium.

If not called, the maturity payout is linked to the lesser performing underlier: investors receive $1,725.04 per $1,000 if all underliers finish at or above initial levels, $1,000 if all are ≥70% of initial but at least one is below initial, or $1,000 plus the lesser performing underlier return × $1,000 if any underlier is below 70% (potential loss of principal). The pricing supplement states an estimated value of $885–$925 per $1,000 face amount when terms are set.

GS Finance Corp. offers principal-protected but capped, non‑interest notes linked to an equally weighted basket of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF, with expected trade date March 10, 2026 and stated maturity expected March 15, 2028. For each $1,000 face amount, the cash settlement at maturity depends on the basket return: you receive the face amount if the basket declines by no more than 20%, up to a capped payment of $1,405 if the basket return exceeds the cap (140.5%), and a reduced principal payment if the basket declines by more than 20%. The notes carry issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., have an estimated initial value of $925–$955 per $1,000 face amount, and the calculation agent (GS&Co.) has broad discretion over index/fund adjustments and certain determination‑date outcomes.

The Goldman Sachs Group, Inc. is offering $17,096,000 of Callable Fixed Rate Notes due March 6, 2031. The notes pay interest at 4.45% per annum from the original issue date March 6, 2026, payable each March 6 and September 6, beginning September 6, 2026. The issuer may redeem the notes in whole, not in part, on each March 6, June 6, September 6 and December 6 on or after March 6, 2029, at 100% of principal plus accrued interest with at least five business days’ notice. The offering will settle on March 6, 2026, and initial price to public equals 100% of principal; underwriting discount is 0.642%.

The Goldman Sachs Group, Inc. is offering $30,000,000 aggregate principal amount of floating rate notes due March 6, 2031. The notes pay interest quarterly beginning June 6, 2026 at compounded SOFR plus a 1.28% spread, subject to a 0.00% minimum and 6.00% maximum interest rate.

The notes have $1,000 denominations, settle on March 6, 2026, are unsecured obligations of the issuer, will not be listed, and are not FDIC insured. Goldman Sachs & Co. LLC is calculation agent and initial purchaser; the prospectus supplement discusses SOFR discontinuance, tax treatment as variable rate debt, hedging and issuer credit risk.

GS Finance Corp. offers buffered, non-interest-bearing notes linked to the iShares® Expanded Tech-Software Sector ETF (ticker IGV), guaranteed by The Goldman Sachs Group, Inc. On maturity (determination date ~13–15 months after trade date), each $1,000 face amount will pay either a capped positive amount (threshold/maximum settlement amount expected between $1,138.6 and $1,162.6) if the final ETF level is ≥85% of the initial level, or a reduced cash amount calculated using a buffer mechanism (buffer rate ≈117.65%) if the final level is <85%.

The notes carry issuer/guarantor credit risk, do not pay interest or dividends, have an estimated initial value below par (≈$955–$985 per $1,000 face), may lack liquidity, and could result in total loss of principal.

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 reference the GSMBFC5 Index, have an upside participation rate of 100%, and include annual automatic call mechanics with rising call levels and call premiums from March 2027 through March 2032. The trade date is March 13, 2026 and the original issue date is March 18, 2026. GS&Co. estimates the notes' value on the trade date at $885 to $925 per $1,000 face amount. If not called, the cash settlement at maturity pays $1,000 plus upside participation if the final index level exceeds the initial index level; if the final index level is equal to or below the initial level, the cash settlement will equal the face amount. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) offers Contingent Income Auto-Callable Securities linked to the Class A common stock of Alphabet Inc., priced March 2026 and expected to issue March 18, 2026. These principal-at-risk notes pay contingent quarterly coupons only if observation-date closes meet a 60.00% downside threshold and may be automatically called if the stock closes at or above the initial share price on any call observation date. At maturity, payments depend on the final share price: full principal plus final coupon if at or above the downside threshold, or principal multiplied by the share performance factor (which may be substantially less) if below the threshold.

GS Finance Corp. offers structured, non‑interest notes linked to the lesser performing of the S&P 500® Index, the EURO STOXX 50® Index and the State Street® Utilities Select Sector SPDR® ETF. The trade date is expected to be March 11, 2026 and the stated maturity date is expected to be April 15, 2027.

Each $1,000 face amount pays a capped maximum settlement of $1,080 if every underlier finishes at or above 60% of its initial level; otherwise the cash settlement equals $1,000 plus $1,000 times the lesser performing underlier return, which can result in a loss of principal. 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 guarantor The Goldman Sachs Group, Inc.

GS Finance Corp. offers $1,000-face autocallable index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® and EURO STOXX 50®, do not pay interest, and may be automatically called on quarterly observation dates beginning March 11, 2027.

Payment at maturity depends on the lesser performing underlier measured on the determination date March 11, 2031. A trigger buffer is set at 70%; if the final level of any underlier is below that buffer the investor bears losses equal to the lesser performing underlier return and could lose the entire investment. Original issue price is 100% of face amount with an underwriting discount of 3%.

GS Finance Corp. is offering leveraged S&P 500® Futures Excess Return Index‑linked notes due March 18, 2031, fully guaranteed by The Goldman Sachs Group, Inc.. Each note has a $1,000 face amount and an upside participation rate of 121%. On the stated maturity date the cash payment per $1,000 will be: (a) $1,000 + ($1,000 × 121% × underlier return) if the final underlier level is greater than the initial underlier level, or (b) $1,000 if the final underlier level is equal to or less than the initial level. The underlier is the S&P 500® Futures Excess Return Index (E‑mini S&P 500 futures performance), not the S&P 500® Index, and the notes pay no interest. The trade date is March 13, 2026 and the determination date is March 13, 2031. Investors bear issuer/guarantor credit risk, exposure to futures‑linked features (including negative roll yields and implicit financing costs), limited secondary market liquidity, and specific U.S. federal tax treatment for contingent payment debt instruments.

GS Finance Corp. is offering callable, buffered notes linked to the S&P 500® Futures Excess Return Index, expected to mature on March 18, 2031 with a trade date expected on March 13, 2026. The notes pay no interest and reference E-mini S&P 500 futures rather than the cash S&P 500® Index.

The notes feature a 20% buffer (buffer level = 80% of the initial level) and an upside participation rate of 185.2%. GS Finance Corp. may redeem on scheduled call payment dates beginning in March 2027 at specified call premiums. Estimated value at issuance is between $885 and $925 per $1,000 face amount; purchase exposes holders to issuer and guarantor credit risk.

GS Finance Corp. offers Leveraged Buffered S&P 500® Index‑Linked Notes due 2028 guaranteed by The Goldman Sachs Group, Inc.

The notes reference the S&P 500 (Bloomberg: SPX Index) with an upside participation rate of 200%, a buffer level of 85% (buffer amount 15%) and a maximum settlement amount of at least $1,210 per $1,000 face amount. Trade date is March 16, 2026, original issue date March 19, 2026, determination date March 10, 2028, and stated maturity date March 15, 2028. The notes pay no interest and settlement is in cash. If the final underlier level is below the buffer level, investors lose principal on a pro rata basis; if the final underlier level is above the initial level, returns are subject to the stated upside participation and the maximum settlement cap.

GS Finance Corp. offers structured, callable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stocks of Advanced Micro Devices, UnitedHealth, Tesla, and NVIDIA and mature on April 2, 2031 unless automatically called on observation dates beginning in March 2027. Coupons are monthly per $1,000 face amount: a $9.167 maximum (at least 0.9167% monthly) or a $0.209 minimum ( 0.0209% monthly), determined by each coupon observation date versus a 77.5% trigger of the initial index stock prices. Trade date is expected to be March 26, 2026 and original issue date expected March 31, 2026. The estimated value at pricing is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering structured, principal‑at‑risk notes maturing on or about March 22, 2029 linked to the performance of Alphabet (Class A), NVIDIA, Broadcom and Meta (Class A) shares. Coupons may pay on scheduled quarterly payment dates if each index stock meets a 70% trigger on monthly observation dates; the coupon accrues at $20.209 per $1,000 (2.0209% monthly, ~24.25% per annum potential) subject to prior payments. The issuer may redeem notes on coupon payment dates from March 2027 through December 2028 at 100% plus accrued coupon. At maturity, if the lesser performing stock is below 70% of its initial price, principal is reduced proportionally to that stock’s return. Estimated value at trade date is stated as $925–$955 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers non‑interest notes linked to the iShares Bitcoin Trust ETF (IBIT). The notes have an automatic call feature expected on March 31, 2027 that would pay $1,160 per $1,000 face amount if the IBIT closing level is at or above the initial level. If not called, at the expected April 5, 2029 maturity the payoff is: participation of 150% on any positive ETF return, return of face amount if the final level declines up to 20%, and a loss beyond that equal to the ETF return plus the 20% buffer amount. The estimated value at pricing is $925–$965 per $1,000 face amount, and payments remain subject to the issuer and guarantor credit risk.

GS Finance Corp. is offering leveraged S&P 500® Futures Excess Return Index‑linked notes due March 25, 2030, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note pays at maturity based on the S&P 500 Futures Excess Return Index performance from the trade date to the determination date. The notes feature an upside participation rate of 171.5%, a trigger buffer of 40% (trigger buffer level 60% of initial), trade date March 20, 2026, original issue date March 25, 2026, and determination date March 20, 2030. If the final underlier level is below the trigger buffer level, investors lose an amount equal to the underlier return times $1,000 and could lose their entire investment.

GS Finance Corp. intends to offer floating rate notes guaranteed by The Goldman Sachs Group, Inc. The notes accrue interest at compounded SOFR plus 1.20% per annum, subject to a minimum interest rate of 0.50%, with quarterly payments expected March 11, June 11, September 11 and December 11 beginning June 11, 2026. The notes are expected to have an original issue date of March 11, 2026 and a stated maturity date of March 11, 2033. Denominations are $1,000. The notes are unsecured, not FDIC insured, will not be listed, have no redemption right, and the calculation agent (Goldman Sachs & Co. LLC) will determine compounded SOFR and may exercise discretion in benchmark replacement determinations.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal‑protected notes maturing expected March 27, 2031 linked to four stocks: AMD, Micron, UnitedHealth and Tesla. The notes pay a monthly coupon that is either a $6.417 maximum formula (0.6417% monthly; ~7.7% annually potential) or a $0.209 minimum (0.0209% monthly; ~0.25% annually) depending on whether each stock meets an 80% trigger on observation dates. Notes may be automatically called on observation dates beginning in March 2027 if each stock closes at or above its initial price. Estimated value at pricing is between $885 and $935 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering autocallable index-linked notes due 2030. The notes reference the Nasdaq-100 and the S&P 500, carry no interest, and feature a 200% upside participation rate and a 10% buffer (buffer level: 90% of initial levels). If on the call observation date (March 19, 2027) each underlier is at or above its initial level the notes will be automatically called and pay $1,120.50 per $1,000 face amount. If not called, maturity is on March 22, 2030 with payoff tied to the lesser performing underlier; losses can be substantial if that underlier falls below the buffer level. The notes are cash-settled, issued at par, and the calculation agent is Goldman Sachs & Co. LLC.

GS Finance Corp. is offering Buffered Digital Nasdaq-100 Index®-Linked Notes due, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes have a buffer level equal to 90% of the initial underlier level and a buffer rate of approximately 111.11%. If the final underlier level at the determination date is greater than or equal to the buffer level, holders receive a capped maximum settlement amount (expected between $1,104.90 and $1,123 per $1,000 face amount). If the final underlier level is below the buffer level, holders lose approximately 1.1111% of face amount for every 1% decline below the buffer level and could lose their entire investment. The notes pay no interest; maturity and determination dates are expected about 13–15 months after the trade date and are subject to adjustment.

GS Finance Corp. is offering buffered, non‑interest bearing notes linked to the Invesco QQQ, Series 1 ETF with an expected trade date of March 18, 2026 and a stated maturity expected to be September 23, 2027.

The notes return is measured from an initial ETF level (set on the trade date) to the final ETF level (determination date expected September 20, 2027). Key economics: a 15% buffer (buffer level = 85% of initial), a cap at 113.5% (maximum cash settlement $1,135 per $1,000 face amount), and 100% upside participation up to the cap. If the final ETF level falls below the buffer, losses equal the ETF return plus 15%. The estimated value at term‑setting is between $925 and $955 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering underlier-linked notes due September 10, 2027, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference the EURO STOXX 50 Index, the iShares MSCI Emerging Markets ETF (EEM) and the iShares MSCI EAFE ETF (EFA).

The notes pay no interest and settle in cash on the stated maturity date based solely on the lesser performing underlier. Key terms set on the trade date include an upside participation rate of 210.5%, a trigger buffer level of 70%, a trade date of March 6, 2026, an original issue date of March 11, 2026 and a determination date of September 7, 2027. If any underlier closes below 70% of its initial level, holders can suffer a loss equal to the lesser performing underlier return, potentially losing their entire investment.

GS Finance Corp. offers autocallable contingent-coupon index-linked notes due April 5, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of 0.8334% per month (up to ~10.00% per annum) if each underlier meets a coupon trigger of 70% of its initial level.

The notes reference the Nasdaq-100, Russell 2000 and S&P 500. They are automatically called if, on any call observation date, each underlier is at or above its initial level; otherwise the cash settlement at maturity is based solely on the lesser performing underlier and could result in a total loss of principal.

GS Finance Corp. offers leveraged S&P 500® index-linked notes due May 27, 2027, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the S&P 500 performance from the trade date to the determination date.

The notes provide an upside participation rate of 300% subject to a $1,150 maximum settlement per $1,000 face amount; if the index declines, holders lose 1% of face for each 1% decline and may lose their entire investment. Trade date is March 27, 2026 and original issue date is March 31, 2026; the terms are subject to adjustment as described in the supplement.

GS Finance Corp. offers structured notes linked to the S&P 500® Futures Volatility Plus Daily Risk Control Index, with an expected trade date of March 26, 2026, original issue date of March 31, 2026 and stated maturity expected to be April 2, 2031.

The notes have a $1,000 face amount per note, monthly observation dates (expected the 26th of each month) and a coupon mechanic that pays $6.459 per $1,000 (0.6459% monthly) only for months when the index closing level is ≥85% of the initial index level. The notes include a 15% buffer (buffer level = 85% of initial) so at maturity holders receive $1,000 if the final index level is ≥85% of initial; if below 85% the payout equals $1,000 plus $1,000×(index return + 15%), which can result in a substantial loss. The notes may be automatically called on specified observation dates beginning in March 2027 if the index is ≥ the initial index level. The estimated model value at pricing is between $885 and $935 per $1,000 face amount.

The Goldman Sachs Group, Inc. is offering senior fixed rate notes due March 17, 2037, with an annual coupon of 5.00% per the pricing supplement marked Subject to Completion. The notes have a trade date of March 13, 2026 and an original issue date of March 17, 2026, in denominations of $1,000 and integral multiples. Interest is payable each year on March 17, commencing March 17, 2027. The notes will not be listed on any exchange and are issued in book-entry form through DTC. Pricing and certain original issue price details will be set on the trade date and may vary for certain fee-based advisory accounts.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes with a 5.875% per annum coupon and an expected original issue date of March 20, 2026 and expected stated maturity of March 20, 2046.

Interest is payable annually on each expected interest payment date of March 20, beginning on the expected first payment date of March 20, 2027. The notes are callable at our option, in whole but not in part, on specified quarterly redemption dates on or after March 20, 2028, 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. prices structured, autocallable basket-linked notes backed by The Goldman Sachs Group, Inc. guarantee. Each note has a $1,000 face amount, an expected stated maturity of March 30, 2029, and an initial basket level of 100. The notes pay no interest, may be automatically called beginning in April 2027 with specified call premiums, and at maturity pay $1,300 per $1,000 if the final basket level is at or above the initial level; otherwise the payout declines pro rata with the basket return. The basket weights the EURO STOXX 50 (40%), Nikkei 225 (20%), FTSE 100 (20%), SMI (7.5%), S&P/ASX 200 (7.5%) and iShares China Large-Cap ETF (5%). The estimated value at pricing is between $925 and $955 per $1,000, the issue price is 100%, underwriting discount 2.25%, and net proceeds 97.75%.

The Goldman Sachs Group, Inc. is offering callable fixed-rate notes that pay interest at 4.50% per annum from and including the expected original issue date of March 20, 2026 to but excluding the expected stated maturity date of March 20, 2031.

Interest is expected to be paid semiannually on March 20 and September 20, with the first payment expected on September 20, 2026. The notes are callable at issuer option in whole (not in part) on scheduled redemption dates beginning on or after March 20, 2029, with at least five business days' prior notice and a redemption price equal to 100% of principal plus accrued and unpaid interest.

GS Finance Corp. is offering Market Linked Securities — Auto-Callable with Leveraged Upside Participation and Contingent Downside Principal at Risk linked to the Class A common stock of CoreWeave, Inc. due March 8, 2029. Each security has a $1,000 face amount and an original offering price of $1,000.

The securities have an estimated value of approximately $925 per $1,000 face amount at pricing. Key economics: 170.00% upside participation, a 50.00% call premium if automatically called, a starting price of $79.56 (strike date February 27, 2026), a call date of March 8, 2027 and a stated maturity of March 8, 2029. If not called, maturity payoff depends on ending price vs. starting/threshold prices; downside exposure is 1-to-1 below the threshold (threshold = 60% of the starting price, i.e., a 40% threshold amount).

Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; investors bear the credit risk of both and may lose up to 100% of principal.

The offered notes are autocallable index-linked notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., tied to the Nasdaq-100, Russell 2000 and S&P 500 indices. For each $1,000 face amount the notes are callable quarterly and pay a capped call premium; the maturity payout depends on the lesser performing underlier with an 85% buffer level and a 43.05% maturity premium amount. The notes do not pay interest and expose investors to issuer/guarantor credit risk and potential loss of principal.

GS Finance Corp. offers autocallable S&P 500® Index-linked notes due March 18, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, automatically call on the call observation date if the index closes at or above the initial level, and would pay $1,140 per $1,000 face amount if called on March 18, 2027. If not called, maturity payoffs depend on S&P 500 performance: 110% upside participation on gains, full principal preserved down to 70% of the initial level, and below that you suffer losses equal to the index decline, potentially losing your entire investment.

GS Finance Corp. offers $1,000‑denominated Autocallable Index‑Linked Notes due March 11, 2031 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and feature quarterly automatic calls if both underliers close at or above their initial levels on an observation date; each call pays principal plus a specified call premium.

The notes reference the Russell 2000® and the S&P 500®. If not called, the maturity cash settlement depends solely on the lesser performing underlier: investors receive either principal plus a 51.55% capped premium, principal only, or a reduced cash amount computed using a 10.0% buffer and an approximate 111.11% buffer rate. The pricing shows an original issue price of 100% and a net proceed of 97% after a 3% underwriting discount.

GS Finance Corp. offers $22,595,000 of medium-term notes, fully guaranteed by The Goldman Sachs Group, Inc., linked to the Russell 2000® and S&P 500® indices. The notes pay a contingent monthly coupon of $8.459 per $1,000 (≈0.8459% monthly) if each underlier is ≥ 70% of its initial level on each coupon observation date, are subject to an automatic call if both underliers are ≥ their initial levels on a call observation date, and mature on March 6, 2031. At maturity (if not called), the cash settlement per $1,000 depends solely on the lesser performing underlier relative to its initial level, with a trigger buffer at 60%; you could lose your entire investment.

GS Finance Corp. is offering callable structured notes linked to the Class A common stock of Affirm Holdings, Inc., the common stock of NVIDIA Corporation and the common stock of Tesla, Inc.. The notes are expected to trade on March 16, 2026, have an expected original issue date of March 19, 2026 and an expected stated maturity date of March 24, 2031. Monthly coupons pay a maximum mechanism equal to $6.25 per $1,000 face amount per qualifying observation (0.625% monthly, up to 7.5% per annum aggregated as described) or a minimum coupon of $0.209 per $1,000 (approximately 0.25% per annum). The notes may be automatically called on observation dates beginning in March 2027 if each underlying closing price is at or above its initial price. The estimated value on the trade date is expected to be between $885 and $935 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers non‑interest linked notes tied to the shares of Alphabet (Class C), Meta (Class A) and NVIDIA. The notes mature on April 2, 2031 with an automatic‑call observation on March 27, 2028 and a trade date expected March 26, 2026. Notes will be automatically called if each index stock closes at or above 90% of its initial price on the call observation date, producing at least $1,230 per $1,000 face amount on the call payment date. If not called, maturity payment depends on the lesser performing stock: positive payoff = 125% participation in that stock’s gain; otherwise holders receive the face amount. The prospectus states an estimated value on the trade date of $885 to $935 per $1,000 face amount and emphasizes credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers equity‑linked, principal‑at‑risk notes tied to Western Digital Corporation common stock. Each $1,000 note matures on March 15, 2027 and pays a capped $1,499 if the final stock closing price on the determination date is at least 70% of the initial price of $250.61. If the final price is below 70%, holders receive $1,000 plus $1,000 times the index stock return, which can result in a total loss of principal. The estimated value at issuance was approximately $971 per $1,000 face amount, and the offering is subject to issuer and guarantor credit risk and GS&Co. acting as calculation agent and market‑maker.

GS Finance Corp. is offering ETF-linked notes due March 8, 2028 (original issue date March 6, 2026) with an aggregate face amount of $3,230,000. Payment at maturity is based on the lesser performing of the SPDR® Gold Trust and the iShares® Silver Trust, measured from the trade date March 3, 2026 to the determination date March 3, 2028. If the lesser performing ETF has a positive return, you receive 100% participation in that lesser return up to a cap level (133.25% of initial level) and a maximum settlement amount of $1,332.50 per $1,000 face amount. If the lesser performing ETF return is zero or negative, you receive the $1,000 face amount. The estimated value on the trade date was about $985 per $1,000 face amount; the original issue price is 100% of face amount.

GS Finance Corp. is offering autocallable equity-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of Amazon.com, Inc. (Bloomberg: "AMZN UW"). The notes have a 100% upside participation rate and a trigger buffer level of 70% of the initial underlier level. If the notes are automatically called on the call observation date, the payment will be $1,247.50 per $1,000 face amount on the call payment date. If not called, payments at maturity depend on the final underlier level: full principal if the final level is at or above the trigger buffer, upside participation for positive returns above the initial level, and a downside exposure equal to the underlier return if below the trigger buffer (potentially a total loss). The notes pay no interest. Key dates shown in the pricing supplement include a trade date of March 6, 2026, original issue date March 11, 2026, call observation date March 8, 2027 (call payment March 11, 2027), determination date March 6, 2029, and stated maturity March 9, 2029. The offering materials disclose credit risk of the issuer and guarantor, potential limited secondary-market liquidity, modeling assumptions that make the original issue price exceed estimated model value, and uncertain U.S. federal tax treatment.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2031 that pay 4.675% interest per annum. Interest accrues from the expected original issue date of March 9, 2026 to the expected stated maturity of March 7, 2031, with semiannual payments expected each March 9 and September 9.

The notes are callable in whole (not in part) on each redemption date expected on March 9 and September 9 on or after March 9, 2028, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ prior notice. Settlement and delivery are expected in DTC on March 9, 2026.

GS Finance Corp. is offering structured, callable notes guaranteed by The Goldman Sachs Group, Inc., linked to the common stocks of Tesla, Alphabet (Class A) and NVIDIA. The notes have an expected stated maturity date of March 11, 2027, and may be automatically called on observation dates beginning in June 2026. Quarterly coupons of at least $30 per $1,000 face amount (at least 3% quarterly) are payable only if the closing price of each index stock on a coupon observation date is greater than or equal to 50% of its initial price. At maturity, if a trigger event occurs (each final index stock price is below its initial price), payment will be based on the lesser performing index stock return and could be significantly less than the face amount. The estimated value at pricing is between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering leveraged EURO STOXX 50® Index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the EURO STOXX 50® performance from the trade date to the determination date.

Key terms: trade date March 6, 2026; original issue date March 11, 2026; stated maturity date March 9, 2029; upside participation 300% subject to a maximum settlement amount of $1,463.80 per $1,000 face amount; trigger buffer 25% (75% trigger buffer level). If the final index level is below the trigger buffer level, investors suffer proportional losses and could lose their entire investment. The notes are senior unsecured obligations and subject to issuer and guarantor credit risk.

GS Finance Corp. offers underlier-linked, principal-at-risk notes due September 23, 2027, fully guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount note pays no interest and delivers a cash settlement at maturity tied to the lesser performing underlier of the EURO STOXX 50® and the iShares® MSCI EAFE ETF.

Key economics set on the trade date (March 18, 2026): an upside participation rate of 150%, a maximum settlement amount of $1,210 per $1,000 face, and an 80% buffer level. If the lesser performing underlier finishes below its buffer, principal is lost on a 1% per 1% basis below the buffer; if both underliers finish at or above the buffer but not higher than initial levels, you receive the face amount.

GS Finance Corp. is offering autocallable equity-linked notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference Broadcom (AVGO), Meta (META), NVIDIA (NVDA) and Tesla (TSLA) and may be automatically called monthly if each underlier closes at or above its initial level on a call observation date. If not called, the cash settlement at maturity is based solely on the lesser performing underlier and is capped by a maturity date premium amount of at least 47.502%. The notes pay no interest and carry issuer/guarantor credit risk; pricing terms (including original issue price and underwriting discount) will be set on the trade date and certain terms are subject to adjustment as described in the general terms supplement.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-at-risk notes maturing March 13, 2029. The notes pay a monthly coupon of $13.5 per $1,000 face amount (1.35% monthly; 16.2% annualized potential) only when the closing level of each underlier meets a 65% coupon trigger on observation dates. The return at maturity is determined by the lesser performing underlier (Russell 2000®, Nasdaq-100®, VanEck Gold Miners ETF). A trigger buffer at 60% affects principal protection: if the final level of any underlier is below 60%, principal is reduced pro rata to that underlier’s return. The company may redeem notes at $1,000 plus any coupon on monthly coupon dates from September 2026 through February 2029. The estimated value at pricing is between $925 and $955 per $1,000, which is lower than the original issue price; payments remain subject to the issuer’s and guarantor’s credit risk.

GS Finance Corp. is offering Autocallable Russell 2000® Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes are cash-settled, do not bear interest, and may be automatically called on annual observation dates if the underlier closes at or above its initial level.

Key disclosed terms include a trade date of March 31, 2026, original issue date April 3, 2026, call observation dates with call payment premiums of 12.25% (May 3, 2027) and 24.5% (March 30, 2028), a capped maturity premium of 36.75%, determination date March 27, 2029 and stated maturity March 30, 2029. The offering price is 100% of face amount with an underwriting discount of 2.25%.

Material risks the supplement emphasizes include possible loss of your entire investment if the final underlier level is below the initial level, capped upside at maturity and on call, exposure to issuer/guarantor credit risk, limited secondary market liquidity, and uncertain U.S. federal income tax treatment.