Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers capped buffer GEARS linked to the SPDR® Gold Trust (GLD), with terms set on the trade date. The notes provide 2.00 upside gearing and a maximum settlement amount expected between $13.00 and $13.28 per $10 face amount (30.00 to 32.80 maximum return).

The securities include a 10.00% buffer (downside threshold at 90.00 of the initial ETF price), trade date expected March 11, 2026, original issue date expected March 16, 2026, determination date expected March 13, 2028, and stated maturity expected March 16, 2028. The estimated value at pricing is between $9.30 and $9.60 per $10 face amount. Payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured, non‑interest bearing, buffered digital notes linked to the S&P 500® Futures Excess Return Index with a stated maturity of March 18, 2032. The notes pay a cash settlement per $1,000 face amount determined by the underlier return on the determination date, subject to a 20% buffer (buffer level: 80% of the initial underlier level) and a threshold settlement amount of $1,529.50. If the final underlier level is between the buffer level and the initial level a positive payout equals the absolute underlier return; if the final underlier level is below the buffer level, investors incur proportional losses and could lose a substantial portion of their investment. The underlier reflects E‑mini S&P 500 futures, not the cash S&P 500 Index, and negative roll yields and futures financing costs may reduce the underlier’s level over time. The notes are senior debt of GS Finance Corp. and are unconditionally guaranteed by The Goldman Sachs Group, Inc.; they carry issuer and guarantor credit risk.

GS Finance Corp. is offering leveraged S&P 500® Futures Excess Return Index‑linked notes due April 7, 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes have an upside participation rate of 185%, a trigger buffer level of 50%, and do not bear interest. Payment at maturity depends on the underlier return measured from the trade date April 2, 2026 to the determination date April 2, 2031. If the final underlier level exceeds the initial level, holders receive $1,000 + ($1,000 × 185% × underlier return). If the final level is between 50% and 100% of the initial level, holders receive the face amount. If the final level is below 50% of the initial level, holders suffer a proportional loss and could lose their entire investment. Investors are exposed to issuer/guarantor credit risk, lack of interest payments, futures‑specific effects (roll yield/contango), limited liquidity, and tax characterization uncertainty.

GS Finance Corp. is offering $ Buffered S&P 500® Index-Linked Notes due March 15, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the cash settlement per $1,000 face amount depends on S&P 500 performance from the trade date to the determination date.

If the final level is at or above the initial level you receive the underlier return up to a $1,363.50 cap. If the final level declines up to the 20% buffer you receive the absolute decline as a positive return; declines beyond the 20% buffer produce losses pro rata to the decline. Trade date is March 11, 2026; original issue date is March 16, 2026; determination date is March 12, 2029.

GS Finance Corp. offers S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note, do not bear interest, and pay at maturity either the face amount or a positive return linked to the S&P 500® Index subject to a $1,120 maximum settlement amount.

The trade date is March 27, 2026, original issue date April 1, 2026, determination date March 28, 2028 and stated maturity date March 31, 2028, each "subject to adjustment" as described in the general terms supplement. If the final underlier level is greater than the initial level, the payment equals $1,000 plus the underlier return but capped at $1,120; if the final level is equal to or less than the initial level, holders receive the face amount.

GS Finance Corp. is offering leveraged 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 based on the S&P 500® performance from the trade date to the determination date. Key terms include an upside participation rate of 200%, a buffer level of 85% (buffer amount 15%), and a maximum settlement amount of $1,116. Trade date is March 11, 2026, original issue date March 16, 2026, determination date April 12, 2027, and stated maturity date April 15, 2027.

The notes may return the face amount if the final underlier level is down no more than the buffer; losses occur if the final underlier level falls below the buffer, with potential for substantial principal loss. The issuance is subject to underwriting discounts, a structuring fee, and the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering index-linked notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest. Payment at maturity depends on the lesser performing underlier of the Dow Jones Industrial Average and the S&P 500 measured from the trade date to the determination date.

If the final level of each underlier is greater than its initial level, the cash payment equals $1,000 plus the lesser performing underlier return, capped at a maximum settlement amount of $1,122.50. If any underlier’s final level is equal to or below its initial level, holders receive the face amount. Trade date is April 2, 2026, original issue date is April 7, 2026, determination date is October 4, 2027 and stated maturity is October 7, 2027 (each subject to adjustment).

GS Finance Corp. is offering $ callable Contingent Coupon Index‑Linked Notes due March 12, 2029 guaranteed by The Goldman Sachs Group, Inc.. The notes link payouts to the performance of three underliers: the Nasdaq‑100, Russell 2000 and S&P 500. Coupons are contingent monthly payments of $10.042 per $1,000 if each underlier closes at or above a coupon trigger level equal to 70% of its initial level on the related observation date. If any underlier is below its trigger on an observation date, that coupon is zero.

The cash settlement at maturity (if not redeemed) is tied to the lesser performing underlier: if that underlier is at or above its trigger buffer level (70% of initial), you receive $1,000 per $1,000 face amount; if below, you receive $1,000 × the lesser performing underlier return, exposing investors to full principal loss. The issuer may redeem on scheduled coupon payment dates beginning June 2026. Trade date is March 6, 2026 and original issue date is March 11, 2026.

GS Finance Corp. offers structured notes guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of Netflix, Amazon and Microsoft. The notes have an expected stated maturity of March 7, 2029, an automatic call feature with observation dates beginning September 2026, and monthly coupon observation dates expected on the 2nd of each month from April 2026 through March 2029.

Coupons are payable for each $1,000 face amount only if the closing price of each index stock on a coupon observation date is at least 60% of its initial index stock price (initial prices set on March 2, 2026: Netflix $97.09, Amazon $208.39, Microsoft $398.55) and are calculated using $10.084 per month (1.0084% monthly, up to ~12.10% per annum) less any previously paid coupons. Notes are automatically called if each index stock on a call observation date is at or above its initial index stock price; called notes pay face amount plus accrued coupon.

If not called, maturity payment depends on a trigger event: if all final prices are below their initial prices, payment is tied to the lesser performing index stock return (subject to a 50% trigger buffer), which could result in a substantial loss of principal. The estimated model value at pricing is between $925 and $955 per $1,000 face amount. Payments are subject to the issuer's and guarantor's credit risk and various market, adjustment and calculation-agent provisions.

GS Finance Corp. offers autocallable index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on March 15, 2027 for $1,160 per $1,000 face amount if each index is >=90% of its initial level, and mature on March 20, 2029. At maturity (if not called), payoff depends on the lesser performing index: if all final levels > initial levels you receive $1,000 plus 150% of the lesser performing index return; if any final level < 70% of initial you could lose principal. The estimated value at trade date is $925–$955 per $1,000 face amount.

GS Finance Corp. is offering autocallable index-linked notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity (if not automatically called) is tied to the performance of the lesser performing underlier among the Nasdaq-100, Russell 2000 and S&P 500 indices.

The notes will be automatically called on the call observation date if each underlier's closing level is greater than or equal to its initial level; in that event the issuer would pay $1,092.50 per $1,000 face amount on the call payment date. If not called, the cash settlement equals $1,000 plus $1,000× the 100% upside participation rate × the lesser performing underlier return, or the face amount if any underlier return is zero or negative. Key terms are set on the trade date and certain dates/levels are subject to adjustment.

GS Finance Corp. offers autocallable index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and may be automatically called on the call observation date; if called the issuer will pay $1,130 per $1,000 face amount on the call payment date.

If not called, the cash settlement at maturity depends solely on the lesser performing underlier (the Dow Jones Industrial Average and the S&P 500). The notes feature an 175% upside participation rate and a 75% trigger buffer per underlier; a final underlier level below the trigger buffer can result in a loss of principal, including the possibility of losing your entire investment.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering non‑interest notes linked to the common stock of Sandisk Corporation. The notes have a $1,000 face amount per note, an expected trade date of March 6, 2026, an expected original issue date of March 11, 2026 and an expected stated maturity of March 9, 2029. Notes may be automatically called beginning on call observation dates in March 2027–February 2029; if not called, maturity payoffs depend on the final index stock price versus the initial index stock price.

The notes cap upside: the maximum cash at maturity is $2,650.024 per $1,000 face amount and the trigger buffer is 60% of the initial index stock price. If the final index stock price is below the trigger buffer, payments fall proportionally and investors could lose their entire investment. The calculation agent is Goldman Sachs & Co. LLC and GS&Co. has sole discretion for certain pricing and adjustment determinations.

GS Finance Corp. offers principal-protected‑style, contingent‑coupon notes linked to the iShares Bitcoin Trust ETF (IBIT). The notes mature on the stated maturity date expected to be March 8, 2029 and include monthly coupon observation dates (expected 5th of each month) and call observation dates from September 2026 through February 2029.

For each $1,000 face amount the monthly coupon is $15.209 if the ETF closing level on a coupon observation date is ≥ 60% of the initial ETF level; no coupon is paid if below that level. Notes will be automatically called if the ETF closing level on any call observation date is ≥ the initial ETF level, in which case holders receive $1,000 plus the coupon. At maturity, if not called, payouts depend on the ETF return: full principal plus final coupon if final level ≥ 60% of initial; $1,000 (no coupon) if final level is between 50% and 60%; and a pro rata loss if final level is 50%. The estimated value on the trade date is between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering principal-protected‑buffer notes linked to the S&P 500® Futures Volatility Plus Daily Risk Control Index. The notes pay no interest, may be automatically called on scheduled call observation dates beginning in March 2027, and mature on or about March 13, 2031 if not called. At maturity the cash payment per $1,000 face amount equals (1) $1,000 plus participation in positive index returns, (2) $1,000 if the final index level is down by ≤15%, or (3) a reduced amount if the final index level is down by more than 15%. The initial trade date is expected to be March 6, 2026, and the issuer’s estimated note value at pricing is between $885 and $925 per $1,000 face amount. Payments depend on the index level, the automatic‑call schedule (with specified call premiums), and the credit of GS Finance Corp. and its guarantor.

The Goldman Sachs Group, Inc. is offering non‑interest bearing callable notes with an expected original issue date of March 9, 2026 and an expected stated maturity of March 9, 2038.

For each $1,000 principal amount, the cash settlement at maturity equals $1,000 plus a maturity date premium amount of 88.8% (yield to maturity 5.43%). The issuer may redeem notes on scheduled call payment dates at specified call premium amounts (table lists call premiums from 3.7% to 85.1% and related yields). The notes are unsecured, not FDIC insured, will be issued in global form only, will not bear interest, and will not be listed.

GS Finance Corp. offers Autocallable S&P 500® Futures Excess Return Index‑Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an upside participation rate of 250% and an automatic call feature that pays $1,180 per $1,000 face amount if the underlier meets the call condition on the call observation date. If not called, maturity payoff depends on the S&P 500® Futures Excess Return Index performance with a 15% buffer (85% buffer level) and a 100% buffer rate; significant principal loss is possible.

The trade date, original issue date, determination date and stated maturity are set as March 18, 2026, March 23, 2026, March 18, 2031 and March 25, 2031, respectively, and the call observation/payment dates are in March 2028. The notes are cash‑settled and linked to futures contracts (not direct equity), and are subject to issuer and guarantor credit risk and model/pricing discounts described herein.

GS Finance Corp. is offering $ Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc.. Payment at maturity is based on the S&P 500 performance from March 3, 2026 to the determination date. If the final index level is ≥ the buffer level (85% of the initial level), holders receive the maximum settlement amount of $1,080 per $1,000 face amount. If the final level is < 85%, losses apply: holders lose approximately 1.1765% per 1% decline below the buffer (buffer rate ≈ 117.65%), and could lose the entire investment. The notes pay no interest, are cash‑settled, and are subject to issuer and guarantor credit risk, limited secondary‑market liquidity, pricing model discounts vs. original issue price, and tax uncertainty.

GS Finance Corp. offers autocallable, contingent-coupon notes linked to the iShares® Semiconductor ETF (SOXX), expected trade date March 6, 2026 and stated maturity March 11, 2030. Coupons of $47.75 per $1,000 (4.775% quarterly; 19.1% annualized) pay on a coupon payment date only if the ETF closing level on the related observation date is at or above 75% of the initial level. Notes are automatically called if the ETF closing level on any call observation date is greater than or equal to the initial level; called notes pay face amount plus then-due coupon on the next call payment date. At maturity (if not called), cash settlement depends on the ETF return: full principal if final level ≥ 75% of initial; principal only if final level ≥ 65% but < 75%; and a proportional loss if final level < 65%, which could result in receiving substantially less than principal. Estimated initial model value is between $900 and $930 per $1,000 face amount.

GS Finance Corp. is offering contingent monthly coupon, autocallable notes with an aggregate face amount of $4,285,000, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 and pay a contingent coupon of 1.0209% monthly (up to approximately 12.25% annually) if each underlier meets a 70% coupon trigger on observation dates. The notes may be automatically called on quarterly call dates if each underlier is at or above its initial level; stated maturity is March 7, 2029. The cash settlement at maturity (if not called) is based solely on the lesser performing underlier and could result in a total loss of principal if that underlier falls below its 70% trigger buffer level.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due September 9, 2027 with interest at 4.15% per annum, expected original issue date March 9, 2026. Interest payments are expected on September 9, 2026, March 9, 2027 and September 9, 2027.

The notes are callable at the issuer's option, in whole but not in part, on specified redemption dates (expected September 9, 2026, December 9, 2026, March 9, 2027 and June 9, 2027) at a redemption price of 100% of principal plus accrued interest. Settlement and issuance will be by DTC in book-entry form, with delivery expected in New York on March 9, 2026. The notes are subject to FATCA withholding and distribution restrictions in the EEA, UK, Hong Kong, Singapore, Japan and Switzerland.

GS Finance Corp. offers callable structured notes linked to the common stocks of Amazon.com, Apple and Alphabet. The notes have an expected trade date of March 6, 2026, an original issue date expected to be March 11, 2026, and a stated maturity date expected to be March 7, 2029.

Coupons are conditional and monthly (formula uses $9.167 per $1,000, i.e., 0.9167% monthly, ~11% per annum potential) and are paid only if each index stock meets a 60% coupon trigger of its initial price (initial prices set on March 2, 2026 at $208.39 for Amazon, $264.72 for Apple and $306.36 for Alphabet). Notes will be automatically called if, on any call observation date, each index stock is at or above its initial price; if not called, maturity pay depends on a trigger event (all final prices below initial prices) and, if triggered, repayment is based on the worst-performing index stock and can result in substantial loss. The estimated value at pricing is between $925 and $955 per $1,000 face amount.

GS Finance Corp. priced a capped, autocallable monthly‑coupon note guaranteed by The Goldman Sachs Group, Inc. The offering has an $4,300,000 aggregate face amount and $1,000 face amount per note. The notes pay a contingent monthly coupon of $10.417 (approximately 1.0417% monthly or up to ~12.5% per annum) when each underlier is >= its coupon trigger (70% of initial level) on observation dates.

If a call observation date shows each underlier >= its initial level the notes will be automatically called and redeemed at $1,000 plus any coupon then due. If not called, the maturity cash settlement is tied to the lesser performing underlier: if that underlier is below its trigger buffer (70%), repayment equals $1,000×(1 + lesser performing underlier return), so investors could lose up to their entire investment. Trade date is March 2, 2026, original issue date March 5, 2026, and stated maturity March 7, 2029.

GS Finance Corp. is offering equity index linked medium-term notes, guaranteed by The Goldman Sachs Group, Inc., linked to the Nasdaq-100 Index® maturing on April 4, 2030. Each note has a face amount of $1,000, 100% upside participation subject to a maximum return that will be set on the pricing date and will be at least 26.90% (producing a maximum maturity payment of at least $1,269.00 per note).

The notes repay principal at maturity regardless of index performance, subject to issuer and guarantor credit risk. The expected pricing date is March 30, 2026 with an expected original issue date of April 2, 2026. The estimated value at pricing is between $900 and $930 per $1,000 face amount; the original offering price is $1,000 with underwriting discounts up to $38.25 per note.

GS Finance Corp. is offering leveraged basket-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes are non‑interest bearing, have a face amount of $1,000 per note, an expected maturity of approximately 60 months, and pay a cash settlement based on a weighted five‑index basket.

The basket weights are EURO STOXX 50 40%, TOPIX 25%, FTSE 100 17%, SMI 11% and S&P/ASX 200 7%. The upside participation rate will be set on the trade date and is expected to be between 164% and 193%. The estimated value on the trade date is expected to be between $915 and $945 per $1,000 face amount.

GS Finance Corp. is offering structured, callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes mature on March 10, 2032 unless automatically called beginning in September 2026. Monthly observation dates are expected on the 5th of each month. A monthly coupon of $18.75 per $1,000 face amount (1.875% monthly; up to 22.5% per annum) is payable only if the index closing level on an observation date is at least 70% of the initial underlier level. If the index closing level on any call observation date is greater than or equal to the initial underlier level, the notes will be automatically called and you would receive the face amount plus the coupon on the related call payment date. The underlier applies leverage (up to 500%), a cap on daily leverage change (100%), and a daily decrement of 6.0% per annum, each of which materially affects potential returns and risk. The estimated value at issuance is stated between $885 and $925 per $1,000 face amount.

GS Finance Corp. is offering autocallable index-linked notes due 2029, with an unconditional guarantee by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 Technology Sector Index and the Russell 2000® Index and do not bear interest.

Key economic terms set on the trade date include an upside participation rate of 195.25%, a trigger buffer level of 70% for each underlier, annual automatic callability (first two call premium amounts: 14% on March 22, 2027 and 28% on March 22, 2028), a trade date of March 17, 2026, original issue date of March 20, 2026, a determination date of March 19, 2029, and a stated maturity date of March 22, 2029. Payment at maturity and any call payment depend on the performance of the lesser performing underlier; if the final level of any underlier is below its trigger buffer, investors may lose up to their entire investment.

GS Finance Corp. is offering callable contingent coupon index-linked notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent quarterly coupon of $19.375 per $1,000 (1.9375% quarterly; up to 7.75% per annum) only if each underlier closes at or above 65% of its initial level on the related coupon observation date. The payoff at maturity (if not earlier redeemed) is based on the performance of the lesser performing underlier among the Dow Jones Industrial Average, the Nasdaq-100 and the S&P 500; if that underlier finishes below 65% of its initial level the investor can suffer a substantial loss, including the loss of their entire investment. The issuer may redeem the notes on coupon payment dates beginning March 2027. Trade date is March 11, 2026 and original issue date is March 16, 2026. The notes are subject to issuer and guarantor credit risk and limited secondary-market liquidity.

GS Finance Corp. is offering Digital Equity-Linked Notes due April 5, 2029, guaranteed by The Goldman Sachs Group, Inc., linked to the Class A common stock of Bloom Energy Corporation (Bloom ticker: "BE UN").

Each note has a $1,000 face amount and pays no interest. At maturity you receive $1,482 per $1,000 if the final underlier level is greater than or equal to the initial level set on the trade date; otherwise you receive the $1,000 face amount. Trade date is March 31, 2026 and original issue date is April 3, 2026. Terms and certain economics will be set on the trade date.

GS Finance Corp. is offering indexed notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes have an expected trade date of March 13, 2026, an expected original issue date of March 18, 2026 and an expected stated maturity date of March 20, 2031. They bear no interest and include an automatic call feature beginning with call observation dates in September 2026.

If automatically called, holders receive $1,000 plus a call premium based on the applicable call premium percentage. If not called, maturity payoffs depend on the underlier return: the maximum settlement amount is $2,555 per $1,000 face amount. The underlier reflects a 6.0% per annum daily decrement and may employ up to 500% leverage; a trigger buffer level is 60% of the initial underlier level. The estimated value at pricing is between $885 and $925 per $1,000, which is less than the original issue price.

The notes are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc. Holders can lose their entire investment; payments are subject to issuer/guarantor credit risk, index methodology, leverage and the decrement.

GS Finance Corp. is offering Buffered Digital S&P 500® Index-Linked Notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is linked to the S&P 500 index performance from the trade date to the determination date.

Key terms: trade date March 26, 2026, original issue date March 31, 2026, determination date September 26, 2029, stated maturity date October 1, 2029. The notes feature a 15% buffer (buffer level = 85% of the initial level) and a buffer rate of 100%. If the final underlier level is greater than or equal to the buffer level, holders receive a capped maximum settlement amount (at least $1,247 per $1,000 face amount). If the final underlier level is below the buffer level, investors lose 1% of face amount for each 1% decline below the buffer, potentially losing a substantial portion of principal.

GS Finance Corp. is offering autocallable S&P 500® Index‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, automatically call on March 16, 2027 if the S&P 500 closing level is at or above the initial level, and would pay $1,100 per $1,000 on the call payment date if called.

The notes provide an upside participation rate of 205%, a buffer level of 90% (buffer amount 10%), and use an initial underlier level of 6,816.63 (closing level on March 3, 2026). If not called, the cash settlement at maturity (determination date March 3, 2028, maturity March 8, 2028) depends on final underlier performance and may result in the loss of the entire investment if the final level is below the buffer level.

GS Finance Corp. offers autocallable, buffered S&P 500® Index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of March 5, 2026, an expected original issue date of March 10, 2026, an expected call observation date of March 17, 2027 and an expected stated maturity date of March 8, 2028.

The notes have a $1,000 face amount per note, a 100% upside participation rate, and an explicit buffer amount of 20.79% (buffer level 79.21% of the initial underlier). If automatically called on the call observation date the cash payment per $1,000 face will be $1,100. If not called, positive or modest negative index returns convert to positive payoffs (absolute return up to the buffer); declines beyond the 20.79% buffer produce a leveraged loss using a buffer rate of approximately 126.25%, and investors could lose their entire investment. The estimated value at term-setting is between $900 and $930 per $1,000 face. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500 Index with an initial underlier level of 6,816.63 set on March 3, 2026.

Key economics: a 90% buffer level, a maximum settlement amount of $1,095 per $1,000 face amount, and a buffer rate of approximately 111.11%. Trade date is March 4, 2026, original issue date March 9, 2026, determination date March 17, 2027, and stated maturity March 22, 2027. Notes pay no interest and expose investors to issuer/guarantor credit risk and potential full principal loss if the final underlier level falls below the buffer.

GS Finance Corp. is offering $1,000-denominated Barrier Market-Linked Notes linked to the SPDR® Gold Trust (GLD), guaranteed by The Goldman Sachs Group, Inc. Trade date is March 11, 2026, original issue date March 16, 2026, determination date March 13, 2028 and stated maturity date March 20, 2028 (each subject to postponement).

The notes pay no interest and settle in cash at maturity. If a daily upper barrier is breached during the observation period, each $1,000 note will pay the face amount plus the 8.00% contingent return. If no barrier event occurs and the final ETF price exceeds the initial price, holders receive the ETF return up to a maximum return set between 35.00% and 40.00%. If no barrier event occurs and the final ETF price is equal to or less than the initial price, holders receive only the $1,000 face amount.

The pricing supplement shows an estimated value of the notes of between $940 and $970 per $1,000 face amount at the trade date, an original issue price of 100.00% and an underwriting discount of 2%. All payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering $ Buffered Digital S&P 500® Index‑Linked Notes due April 8, 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and link the maturity payment to the S&P 500 performance measured from March 3, 2026 to the determination date.

For each $1,000 face amount, if the final underlier level is ≥ the buffer level (90% of the initial level) you receive the maximum settlement amount of $1,100. If the final underlier level is below the buffer level, you lose approximately 1.1111% of face amount for each 1% decline below the buffer level, and you could lose your entire investment. The original issue price is 100% of face amount, underwriting discount is 1.042%, and net proceeds to issuer are 98.958%. The notes are subject to the credit risk of the issuer and guarantor and may have limited liquidity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., priced a Performance Leveraged Upside Security (PLUS) based on the S&P 500® Index due April 5, 2027. Each PLUS provides 300% leveraged upside on positive index performance up to a $1,138.00 maximum payment per $1,000 principal, and exposes investors to full 1:1 downside risk, including potential loss of principal.

Pricing is expected to occur on or about March 10, 2026 with an original issue date of March 13, 2026, a valuation date expected on March 31, 2027, and an estimated secondary-market value range of $915 to $975 per PLUS. The offering carries an underwriting discount of 2.25% and a selling concession of $22.50 per PLUS.

GS Finance Corp. is offering Digital Equity‑Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. Each note has a face amount of $1,000 and a maximum settlement amount of $1,249 per note. The notes are linked to the Class A common stock of Alphabet Inc. (Bloomberg: "GOOGL UW").

Trade date is March 31, 2026, original issue date is April 3, 2026, the determination date is April 2, 2029 and the stated maturity date is April 5, 2029 (each subject to adjustment as described). If the final underlier level on the determination date is greater than or equal to the initial underlier level, holders receive the maximum settlement amount; if the final underlier level is less than the initial underlier level, holders receive the face amount. The notes do not bear interest and will be issued in book‑entry form. The pricing supplement discloses credit risk of the issuer and guarantor, secondary‑market liquidity risks, and special U.S. federal income tax treatment as contingent payment debt instruments.

GS Finance Corp. offers leveraged buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash payment at maturity tied to the S&P 500 index performance between the trade date and the determination date. Key terms: upside participation rate 200%, maximum settlement amount $1,242.50, buffer level 90% (10% buffer), trade date March 26, 2026, original issue date March 31, 2026, determination date September 26, 2028, and stated maturity date September 29, 2028. If the final index level is above the initial level, holders participate up to the capped return; if the final level is at or above 90% but at or below initial, holders receive the face amount; if the final level is below 90% holders lose principal pro rata below the buffer. The notes are unsecured senior debt of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and subject to issuer and guarantor credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent income callable securities due September 11, 2028. The notes pay a contingent quarterly coupon (at least $29.375 per $1,000 if conditions are met) only when the S&P 500®, Russell 2000® and EURO STOXX 50® all close at or above a 70.00% downside threshold on every index business day during the relevant quarterly observation period. The issuer may redeem the notes at 100% of principal on coupon dates from June 11, 2026 through June 9, 2028. At maturity, if the worst performing index is below its downside threshold, payment equals $1,000 × the worst-performing index performance factor (potentially less than $700 or zero). Estimated value range at pricing: $920 to $980 per security; underwriting discount: 2.25%.

GS Finance Corp. is offering autocallable equity-linked notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of NVIDIA Corporation ("NVDA"). The notes pay no interest, may be automatically called monthly if the underlier closes at or above its initial level, and are issued with a maturity date premium amount of 71.2512%.

If not called, the cash settlement at maturity depends on the final underlier level measured on the determination date: investors receive $1,000 if the final level is at least 60% of the initial level, a capped upside if the final level meets or exceeds the initial level, or a loss proportional to the underlier return if the final level is below 60%. The notes may result in a total loss of principal in adverse scenarios; they are subject to issuer and guarantor credit risk and limited secondary-market liquidity.

GS Finance Corp. is offering market-linked medium-term notes due January 4, 2029 linked to the Dow Jones Industrial Average® with a 100.00% upside participation rate and a maximum return that will be determined on the pricing date but will be at least 14.70% (a maximum maturity payment of at least $1,147.00 per $1,000 face amount). The notes repay the face amount at maturity if the ending level is less than or equal to the starting level, provide no periodic interest, and are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, The Goldman Sachs Group, Inc.

The original offering price is $1,000 per note, the estimated value on the pricing date is between $925 and $955 per $1,000 face amount, and underwriter compensation may be up to 3.075% (up to $30.75 per $1,000). Timing anchors include an expected pricing date of March 30, 2026 and an expected original issue date of April 2, 2026.

The Goldman Sachs Group, Inc. is offering floating rate notes due March 6, 2031. The notes pay interest quarterly based on compounded SOFR plus a spread of 1.28%, subject to a minimum interest rate of 0.00% and a maximum of 6.00%, with expected interest payment dates on June 6, September 6, December 6 and March 6 beginning June 6, 2026.

The notes have $1,000 denominations, are unsecured obligations, are not FDIC insured, and will not be listed on an exchange. Goldman Sachs & Co. LLC

GS Finance Corp. is offering buffered S&P 500® index-linked notes due March 8, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® Index with an initial level set on March 3, 2026 and a determination date expected on March 5, 2029. For each $1,000 face amount, positive index returns are paid at a 76.4% participation rate; declines up to 30% are buffered (you would receive $1,000), while declines beyond 30% produce proportional losses. The expected estimated value at term-setting is between $925 and $955 per $1,000 face amount. The notes do not bear interest, are unsecured obligations subject to issuer and guarantor credit risk, and may have limited secondary market liquidity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering non‑interest bearing market‑linked notes linked to an equally weighted basket of six healthcare stocks with an initial basket level of 100. The trade date is expected to be March 11, 2026, original issue date March 16, 2026, and stated maturity is expected to be March 16, 2028.

Key terms: a buffer of 15% (buffer level 85), a cap level of 133.5% and a maximum settlement amount of $1,335 per $1,000 face amount. If final basket level is below the buffer, losses occur and holders can lose a substantial portion of principal; estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering buffered, Nasdaq-100 Index®-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes mature on March 8, 2029 and reference an initial level set on March 3, 2026 with a determination date expected on March 5, 2029.

Key economics: a 84.6% participation rate on positive index returns, a 15% buffer (buffer level = 85% of the initial level), and an estimated value at pricing of $925–$955 per $1,000 face amount. If the final index level falls below the buffer, principal losses occur (examples show up to an 85% loss of face amount). The notes pay no interest and are dependent on the issuer and guarantor creditworthiness.

GS Finance Corp. is offering S&P 500® Index-linked notes due March 22, 2027 that are fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash payment per $1,000 face amount determined by the S&P 500 performance from March 3, 2026 to the determination date on March 17, 2027 (subject to adjustment).

If the final index level is ≥ the trigger buffer level (80% of the initial level), holders receive a $1,086.90 maximum settlement per $1,000 face amount. If the final index level is below that buffer, holders lose 1% of face for each 1% decline below the initial level and could lose their entire investment.

GS Finance Corp. is offering $4,000,000 aggregate face amount of callable 10‑year CMT rate‑linked range accrual notes due March 4, 2031, guaranteed by The Goldman Sachs Group, Inc. Interest pays quarterly beginning June 4, 2026, with the first four quarterly rates fixed at 5.90% per annum and subsequent quarterly rates determined by the proportion of reference dates where the 10‑year CMT rate is ≤ 4.50% (maximum factor 5.90%) versus > 4.50% (minimum factor 1.00%). The issuer may redeem the notes at 100% of face amount plus accrued interest on any quarterly interest payment date on or after March 4, 2027. The estimated value at pricing was approximately $965 per $1,000 face amount, and the original issue price is 100% with a 2% underwriting discount.

GS Finance Corp. is offering leveraged basket-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay no periodic interest and mature approximately 35–38 months after the trade date. The payout per $1,000 face amount equals $1,000 plus a participation component if the final basket level exceeds the initial level of 100; otherwise repayment is reduced pro rata by the basket return. The basket weights are EURO STOXX 50 40%, TOPIX 25%, FTSE 100 17%, SMI 11% and S&P/ASX 200 7%. The upside participation rate is expected to be between 155% and 182%. The estimated value at pricing is between $935 and $965 per $1,000 face amount.