Goldman Sachs Group (GS) 424B Filings

GS Finance Corp. is offering $6,356,000 aggregate of Dual Directional Buffered PLUS linked to the Russell 2000® Index, maturing March 3, 2028. Each Buffered PLUS provides 150% leveraged upside up to a $1,189 cap per $1,000, a 15.00% buffer on losses, and a minimum payment of $150 per $1,000.

The pricing date is February 27, 2026, original issue date March 4, 2026. The estimated model value at pricing is approximately $964 per $1,000; original issue price is 100% with a 2.50% underwriting discount. Payments at maturity depend solely on the index closing value on the valuation date (February 29, 2028), and all payments are subject to the issuer and guarantor credit risk.

GS Finance Corp. launches principal‑protected‑style structured notes linked to a weighted basket of Micron (40%), Microsoft (30%) and Meta (30%). The notes mature on March 2, 2029 and may be automatically called on observation dates beginning March 1, 2027 with specified call premiums.

Payoff: if the final basket level ≥ initial (100) the maturity payment equals $1,661.50 per $1,000 (maturity premium 66.15%); if final basket level is between 70% and 100% you receive $1,000 per $1,000; if final basket level < 70% you receive $1,000 × (1 + basket return), which can result in losses greater than 30%. Estimated value at pricing was approximately $965 per $1,000. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering notes with an aggregate face amount of $500,000 under a Pricing Supplement dated February 27, 2026. The notes are non‑interest bearing, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

The notes reference the S&P 500® Futures Excess Return Index with an upside participation rate of 215%, a trigger buffer level of 60% of the initial underlier level (initial underlier level 557.04). If the notes are automatically called based on the call observation date, the issuer will pay $1,120 per $1,000 face amount on the call payment date. If not called, maturity payments depend on the final underlier level on the determination date (February 27, 2031) and can result in a complete loss of principal if the final level is below the trigger buffer. The notes mature on March 4, 2031 and were issued at 100% of face amount with a 1% underwriting discount.

GS Finance Corp. is offering $762,000 aggregate face amount of callable, contingent-coupon notes due December 4, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the VanEck Semiconductor ETF (SMH) with an initial underlier level of $406.37.

Coupons of $31.25 per $1,000 (3.125% quarterly; 12.5% per annum) will be paid on a coupon payment date only if the ETF closing level on the related coupon observation date is at least 80% of the initial level. At maturity, holders receive $1,000 if the final ETF level is at or above 80% of the initial level; otherwise the cash settlement amount is reduced according to the disclosed buffer formula. The issuer may redeem notes on quarterly coupon dates from September 2026 through September 2028 at 100% of face plus any coupon then due. The pricing supplement states an estimated value of approximately $958 per $1,000 face amount on the trade date. The payments are subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering notes with an aggregate face amount of $6,668,000, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 and Russell 2000 indices, have no periodic interest, and may be automatically called on specified annual observation dates.

If not called, the cash settlement at maturity (stated maturity March 2, 2029) depends solely on the lesser performing underlier. The maturity date premium amount is 22.95%; call premiums are 7.65% (first call) and 15.3% (second call). Trade date is February 27, 2026.

GS Finance Corp. is offering structured notes with an aggregate face amount of $3,923,000 that mature on March 4, 2031. The notes reference the Dow Jones Industrial Average, the Russell 2000 and the S&P 500.

Coupons are contingent quarterly payments of $16.625 per $1,000 (1.6625% quarterly, up to 6.65% per annum) payable only if each underlier meets its coupon trigger (70% of initial). The notes feature an automatic call if all underliers reach their initial levels on a call observation date. At maturity, if not called, principal repayment is tied to the lesser performing underlier; a final underlier below 55% of its initial level can produce a substantial loss, including a total loss of principal.

GS Finance Corp. is offering $257,000 aggregate face amount of medium‑term notes linked to the S&P 500® Futures Excess Return Index. The notes pay no interest and return at maturity is cash‑settled based on the underlier performance from the trade date to the determination date.

If the final underlier level is ≥ the initial level (initial = 557.04), the payoff equals principal plus 114% upside participation of the underlier return. If the final level is below the initial but ≥ the buffer level (80%), the payoff equals principal plus the absolute underlier return. If the final level is below the buffer level, losses occur pro rata and could materially reduce the principal. The stated maturity date is March 2, 2029 (determination date: February 27, 2029), and payments are subject to issuer and guarantor credit risk.

GS Finance Corp. offers $3,061,000 aggregate face amount of index-linked notes due March 2, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the lesser performing of the S&P 500® and Russell 2000® measured from the trade date February 27, 2026 to the determination date February 28, 2028. For each $1,000 face amount, payment at maturity depends on the lesser performing underlier return, the 102% upside participation rate, and a 75% trigger buffer level.

The pricing supplement shows an original issue price of 100%, an underwriting discount of 0.8%, net proceeds of 99.2%, and an estimated value at pricing of approximately $973 per $1,000 face amount.

GS Finance Corp. is offering Leveraged S&P 500® Futures Excess Return Index‑Linked Notes due 2029 with an aggregate face amount of $2,674,000, guaranteed by The Goldman Sachs Group, Inc. The notes mature on March 2, 2029 (determination date February 27, 2029) and pay no interest; the payment at maturity depends on the performance of the S&P 500® Futures Excess Return Index measured from an initial underlier level (the lowest closing level during the observation period from February 27, 2026 through April 27, 2026) to the final underlier level on the determination date. If the final level exceeds the initial level, holders receive face amount plus an upside participation rate of 108.7% times the index return; if not, holders may lose principal. The estimated value on the trade date was approximately $955 per $1,000 face amount; the original issue price is 100% with a 3.5% underwriting discount and net proceeds of 96.5%.

GS Finance Corp. offers stated-maturity, non‑interest bearing structured notes guaranteed by The Goldman Sachs Group, Inc. Each note’s cash payoff at the March 4, 2031 maturity depends on the performance of the S&P 500® Futures Excess Return Index from the trade date to the February 27, 2031 determination date.

If the final underlier level is above the initial level, holders receive the face amount plus 200% participation in the underlier return. If the final level falls to 70% or above of the initial level, holders receive the face amount. If the final level is below 70% of the initial level, holders suffer losses equal to the underlier return times the face amount and could lose their entire investment. The notes were issued at 100% of face amount with an underwriting discount of 1.125%.

GS Finance Corp. is offering autocallable Goldman Sachs Momentum Builder® Focus ER index-linked notes due March 11, 2033, guaranteed by The Goldman Sachs Group, Inc.. The notes have a 100% upside participation rate, annual automatic call features beginning with a March 8, 2027 observation, and an estimated trade-date value of $850 to $880 per $1,000 face amount. Key dates: trade date March 6, 2026, original issue date March 11, 2026, determination date March 4, 2033. If not called, maturity payoff equals $1,000 plus upside participation on positive index return, otherwise $1,000 if index return is zero or negative. The index applies a 0.65% per annum deduction, a 5% volatility control and momentum controls that can reallocate exposure to cash positions. Investors are exposed to issuer and guarantor credit risk and should review the tax treatment as contingent payment debt instruments.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Vertiv Holdings Co. (Bloomberg ticker "VRT UN") and include an automatic call feature, contingent quarterly coupons and principal payoff formulas tied to the underlier's performance.

Key disclosed terms include a trade date of March 6, 2026, original issue date March 11, 2026, stated maturity March 25, 2027, coupon trigger level and buffer level equal to 65% of the initial underlier level, a buffer amount of 35%, a buffer rate of approximately 153.85%, an illustrative coupon accrual component of $54.25 per coupon observation increment, an original issue price of 100% of face amount, underwriting discount of 1%, and net proceeds of 99% of face amount.

GS Finance Corp. offers Market Linked Securities — Leveraged Upside Participation and Contingent Downside Principal at Risk linked to the EURO STOXX 50® Index with an original offering price of $1,000 per security and total original offering amount of $2,705,000. The securities are guaranteed by The Goldman Sachs Group, Inc. and mature on August 30, 2029 (calculation day August 27, 2029), subject to postponement.

The payout profile provides 163% upside participation if the ending level exceeds the starting level and full principal protection only if the underlier does not fall by more than the 25% threshold; losses are 1-to-1 below the threshold and investors may lose up to 100% of the face amount. The estimated value at pricing was approximately $964 per $1,000 face amount; underwriting discount was 2.825%.

GS Finance Corp. is offering S&P 500® Index‑linked notes due in March 2027, fully guaranteed by The Goldman Sachs Group, Inc.. The notes pay no interest and return is based on the S&P 500 performance between the trade date and the determination date.

For each $1,000 face amount, the cash settlement at maturity will be: (1) $1,000 + ($1,000 × underlier return) if the final level is ≥ initial level (capped at $1,100); (2) $1,000 + ($1,000 × absolute underlier return) if the final level is below initial but ≥ the trigger buffer level (expected ≤ 79.80% of initial); or (3) $1,000 + ($1,000 × underlier return) if the final level is below the trigger buffer level, which can cause loss of principal (the example shows a full loss if the underlier falls to very low levels). Trade date is March 6, 2026, original issue date is March 11, 2026, determination date is March 19, 2027 and stated maturity is March 24, 2027. The original issue price is 100% of face, underwriting discount 1%, net proceeds 99%. The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., market‑value volatility, limited upside (cap at $1,100 per $1,000), and tax characterization risks described in the supplement.

The pricing supplement describes GS Finance Corp. medium‑term notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The issuance totals $360,000 aggregate face amount and offers a 300% upside participation rate. The notes have a trade date of February 27, 2026, an original issue date of March 4, 2026, a stated maturity of March 6, 2029 and an automatic call if the index closes at or above the initial level on the call observation date.

Per $1,000 face amount, the estimated value on the trade date is $955, the additional amount is $45 through May 26, 2026, and an automatic call (if triggered) pays $1,080 on the call payment date. If not called, maturity payoffs depend on index performance with downside protection to return of principal ($1,000) if the final index level is at or below the initial index level. The notes do not pay interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering principal-at-risk, S&P 500®-linked notes with an aggregate face amount of $769,000. Each $1,000 note pays no interest and settles in cash at maturity based on the S&P 500® performance from the trade date to the determination date.

If the final underlier level is greater than or equal to the trigger buffer level (the trigger buffer is 85% of the initial level), holders receive the maximum settlement amount of $1,177.50 per $1,000 face amount. If the final underlier level is below that buffer, the cash payment equals $1,000 + ($1,000 × underlier return), exposing holders to losses up to the entire investment. Trade date is February 27, 2026, original issue date March 4, 2026, determination date February 28, 2028, and stated maturity March 2, 2028.

GS Finance Corp. is offering structured notes tied to the S&P 500® Futures Excess Return Index with an aggregate face amount of $1,616,000. Each $1,000 face amount returns $1,000 plus 179% of the underlier return if the final underlier level is above the initial level.

The notes mature on March 4, 2031 (determination date February 27, 2031), do not pay interest, and include a 20% buffer: investors receive the face amount if the final level is ≥ 80% of the initial level, but will suffer proportional losses if the final level declines by more than the buffer. The underlier is linked to E‑mini S&P 500 futures, not the S&P 500® Index, so roll yields and futures financing costs can materially affect payments. Payments are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., exposing investors to issuer and guarantor credit risk.

GS Finance Corp. is offering callable notes due March 2, 2029 guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the iShares® MSCI Emerging Markets ETF (ticker EEM); the initial underlier level is $62.58 (trade date February 27, 2026).

Key economic terms: upside participation rate 150%; trigger buffer level 50% of the initial level; estimated value ≈ $962 per $1,000 face amount on the trade date; original issue price 100%; underwriting discount 0.5%. The issuer may redeem in whole on scheduled monthly call payment dates beginning March 2027 with specified call premiums through February 2029.

GS Finance Corp. is offering linked, non‑interest bearing notes with an aggregate face amount of $40,000 tied to the S&P 500® Index. The notes have a trade date of February 27, 2026, an original issue date of March 4, 2026, a determination date of February 27, 2031 and a stated maturity date of March 4, 2031 (subject to adjustment).

At maturity, each $1,000 face amount pays either: (i) $1,000 plus the underlier return (capped at a $1,955 maximum settlement amount); (ii) $1,000 if the final level is at or above the 85% buffer level; or (iii) a reduced cash amount that declines 1% of face for each 1% the final underlier is below the buffer, using a 15% buffer and a 100% buffer rate. The original issue price is 100% of face; underwriting discount 1.125%; net proceeds 98.875% of face.

GS Finance Corp. issues $1,945,000 aggregate face amount of autocallable contingent coupon notes due September 1, 2027. The notes reference the iShares Silver Trust (SLV) with an initial underlier level of $84.99 and a trigger buffer/coupon trigger at 50% of that level.

If on any monthly observation date the closing level is ≥ initial level the notes are automatically called and holders receive the face amount plus a coupon of $10.667 per $1,000. If on an observation date the closing level is ≥50% of the initial level, a coupon of $10.667 per $1,000 is paid; if not, no coupon is paid. At maturity, unpaid principal depends on the underlier return: if final level ≥50% of initial, holders receive principal; if final level <50%, holders receive $1,000×(1+underlier return), which can result in substantial loss. The estimated value on the trade date is approximately $926 per $1,000.

GS Finance Corp. is offering medium-term, S&P 500®-linked cash-settled notes guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note pays no interest and returns at maturity depend on the S&P 500 performance from February 27, 2026 to February 28, 2028.

If the final index level > initial, holders receive $1,000 plus 200% of the underlier return up to a $1,205 cap. If the final level is ≥ 90% of initial, holders receive the $1,000 face amount. If the final level < 90% of initial, holders incur losses proportional to the decline below the 90% buffer; substantial principal loss is possible. Original issue price equals 100% of face amount; underwriting discount 0.8%.

GS Finance Corp. is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (Bloomberg: SPAR4V6). The notes are expected to trade on March 6, 2026, have an original issue date expected to be March 11, 2026, and a stated maturity expected to be March 9, 2029.

Monthly coupons (up to $10 per $1,000 per qualifying observation, i.e., 1% monthly) are payable only if the index closing level on a coupon observation date is at least 52.25% of the initial underlier level. The issuer may redeem the notes on coupon payment dates from March 2027 through February 2029 at 100% of face plus any coupon then due. At maturity, the cash payment per $1,000 is tied to the underlier return and is capped at 100% of face; large declines can cause substantial losses, including loss of principal.

The underlier applies up to 500% leverage, a daily leverage-change cap of 100%, and a daily 6.0% per annum decrement, all of which materially affect expected performance. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc. The estimated initial model value is between $925 and $955 per $1,000 face amount.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due March 17, 2036. The notes bear an interest rate of 5.00% per annum, pay interest annually each March 17 beginning March 17, 2027, and are issued in denominations of $1,000 and integral multiples.

The trade date is March 13, 2026 with an original issue date of March 17, 2026. The notes will not be listed on an exchange, will be issued in book-entry form through DTC, and use a 30/360 (ISDA) day count convention for interest calculations. The pricing supplement references FATCA withholding rules and standard distribution and resale provisions, including potential market-making resales by Goldman Sachs affiliates.

The Goldman Sachs Group, Inc. is offering $28,535,000 of Callable Fixed Rate Notes due March 3, 2035 that pay interest at 5.00% per annum from the original issue date March 3, 2026.

Interest is payable semiannually on March 3 and September 3, with the first payment on September 3, 2026. The issuer may redeem the notes in whole, not in part, on each quarterly redemption date on or after March 3, 2028, at a price equal to 100% of principal plus accrued interest, with at least five business days’ notice.

The offering price is 100% of principal; underwriting discount is 1% with proceeds to The Goldman Sachs Group, Inc. shown as $28,249,650 before expenses. The notes will be issued in book-entry form through DTC and are subject to U.S. federal tax rules including FATCA withholding.

GS Finance Corp. offers Autocallable S&P 500® Index-Linked Notes due March 9, 2028 guaranteed by The Goldman Sachs Group, Inc.

The notes pay no interest, participate in upside in the S&P 500® at an upside participation rate of at least 176%, and include a 10% buffer (buffer level = 90% of the initial level; buffer rate ≈ 111.11%). If the notes are automatically called on the call observation date, holders receive $1,100 per $1,000 face amount on the call payment date. Trade date is March 6, 2026, original issue date March 11, 2026, call observation date March 19, 2027, and determination date March 6, 2028. Purchase at original issue price is 100% of face amount; underwriting discount 1.5%; net proceeds 98.5% of face amount.

GS Finance Corp. offers leveraged S&P 500® Futures Excess Return Index‑linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and, at maturity, return either the face amount or a participation payoff equal to the face amount plus the upside participation rate (at least 125%) times the underlier return measured from the trade date March 31, 2026 to the determination date March 31, 2031, with stated maturity on April 3, 2031.

Holders have no ownership rights in futures or underlying stocks. If the final underlier level is equal to or less than the initial level, holders receive only the face amount. Key risks disclosed include issuer and guarantor credit risk, lack of interest payments, potential negative roll yields because the underlier tracks E‑mini S&P 500 futures (not the cash index), possible market illiquidity, and tax treatment as contingent payment debt instruments.

GS Finance Corp. offers S&P 500® Futures Excess Return Index‑Linked Notes due April 3, 2031 guaranteed by The Goldman Sachs Group, Inc., with payment at maturity tied to the S&P 500 Futures Excess Return Index performance from the March 31, 2026 trade date to the March 31, 2031 determination date (terms subject to adjustment).

Each note has a $1,000 face amount. If the final underlier level exceeds the initial level, holders receive $1,000 + ($1,000 × upside participation rate × underlier return) with an upside participation rate of at least 200%. If the final underlier level is between the initial level and the trigger buffer level (70% of initial), holders receive the face amount. If the final underlier level is below the trigger buffer level, holders suffer losses equal to the underlier return times the face amount and could lose their entire investment.

GS Finance Corp. is offering leveraged equity-linked notes guaranteed by The Goldman Sachs Group, Inc. linked to the Class A common stock of Alphabet Inc. (Bloomberg: "GOOGL UW"). The notes carry an upside participation rate of 200% and a maximum settlement amount between $1,370.80 and $1,435 per $1,000 face amount.

If the final underlier level exceeds the initial level, holders receive $1,000 plus the upside participation times the underlier return, capped at the maximum settlement amount. If the final underlier level is equal to or below the initial level, holders receive $1,000 plus the underlier return and may lose 1% of face amount for each 1% decline in the underlier, potentially losing the entire investment. The notes pay no interest, have an expected term with a determination date about 13–15 months after the trade date, and are cash-settled.

GS Finance Corp. offers leveraged, buffered EURO STOXX 50® index-linked notes due March 31, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash settlement at maturity tied to the EURO STOXX 50® performance from the March 26, 2026 trade date to the March 26, 2031 determination date.

Key economic terms: upside participation of at least 155.2%, a 20% buffer (buffer level = 80% of the initial underlier) and a 100% buffer rate. If the final level exceeds the initial level, holders receive $1,000 plus participation on the gain; if the final level is between the initial level and the buffer level, holders receive $1,000; if the final level declines beyond the buffer, principal declines dollar-for-dollar with the underlier loss.

GS Finance Corp. offers leveraged buffered S&P 500® index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and settle in cash at maturity based on the S&P 500 closing level on the determination date. If the final underlier level exceeds the initial level, holders receive the face amount plus 300% participation of the underlier return subject to a maximum settlement amount of at least $1,260 per $1,000 face. If the final level is between the initial level and the buffer level (90% of initial), holders receive the $1,000 face amount. If the final level falls below the buffer level, losses are proportional: the payoff uses the buffer rate (100%) and the buffer amount (10%), which can result in a substantial loss of principal. Key dates include a trade date of March 30, 2026, original issue date of April 2, 2026, and stated maturity on April 5, 2029.

GS Finance Corp. offers index‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes (expected trade date March 26, 2026, expected stated maturity March 29, 2029, original issue date expected March 31, 2026) pay at maturity based on the lesser performing of the Russell 2000® and the S&P 500®. The terms include an upside participation rate set on the trade date of at least 102%, a buffer equal to 15% (buffer level = 85% of initial level), and structured downside where losses occur if the lesser performing underlier falls below the buffer level. The estimated value at terms set is $925–$955 per $1,000 face amount. Payments are unsecured and subject to the credit risk of GS Finance Corp. and the guarantor. The notes do not bear interest and may have limited secondary market liquidity.

GS Finance Corp. is offering buffered Russell 2000® index-linked notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes have a face amount of $1,000, do not pay interest, and reference the Russell 2000® Index.

Payments at maturity depend on the underlier return from the trade date March 31, 2026 to the determination date March 31, 2031. A buffer of 15% (buffer level 85%) protects losses up to that decline; the maximum settlement amount is $2,630 per $1,000 face amount. If the underlier falls below the buffer, investors can lose a substantial portion of principal. The notes are cash-settled and subject to issuer and guarantor credit risk.

GS Finance Corp. is offering callable, buffered notes linked to the S&P 500® Futures Excess Return Index that are guaranteed by The Goldman Sachs Group, Inc. The notes have a stated maturity expected to be March 31, 2031, a per-note face amount of $1,000, an upside participation rate of 160% and an 80% buffer level. The issuer may redeem the notes on scheduled call payment dates beginning in 2027 at cash amounts determined by specified call premium amounts. If not redeemed, payment at maturity depends on the index performance measured from the trade date (expected March 26, 2026) to the determination date (expected March 17, 2031), with final payments that can result in substantial losses; the estimated value at pricing is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering callable S&P 500® Futures Excess Return Index‑linked notes due, guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of March 26, 2026 and an expected stated maturity date of March 31, 2031. For each $1,000 face amount at maturity the cash settlement is: (1) $1,000 plus 1.75× the underlier return if the final underlier level is above the initial level; (2) $1,000 if the final level is between 80% and 100% of the initial level; or (3) $1,000 plus (index return + 20%)×$1,000 if the final level is below 80% (which can produce substantial losses). The issuer may redeem the notes on specified monthly call payment dates beginning March 31, 2027; call premium amounts set on the trade date vary by date and are listed in the pricing supplement. The notes track an E‑mini S&P 500 futures‑based underlier (not the S&P 500® Index), carry issuer and guarantor credit risk, do not bear interest, and have an estimated value on the trade date between $885 and $935 per $1,000 face amount as provided in the pricing supplement.

GS Finance Corp. prices fixed‑coupon, buffered S&P 500® Volatility Plus Daily Risk Control Index‑linked notes due April 2, 2029

The notes pay a quarterly coupon of at least $14.625 per $1,000 face amount (at least 1.4625% quarterly; up to 5.85% per annum), commence coupon payments in June 2026, and settle based on the S&P 500® Volatility Plus Daily Risk Control Index (Bloomberg: SPXVPRCU). If the final index level on the determination date is ≥ 85% of the initial level, holders receive full principal; if below 85%, maturity payment is reduced by the index return per the buffer formula (buffer 15%). The estimated value on the trade date is between $925 and $955 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc.

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

The notes feature an upside participation rate of 125% (capped at a $1,225 maximum upside settlement per $1,000 face amount), a downside participation rate of 125%, and a buffer that protects against the first 20% decline (buffer level = 80% of the initial underlier level). Trade date is March 26, 2026, original issue date March 31, 2026, determination date March 26, 2029, and stated maturity March 29, 2029.

GS Finance Corp. is offering buffered digital notes linked to the S&P 500® Futures Excess Return Index, due March 31, 2031, guaranteed by The Goldman Sachs Group, Inc. The trade date is March 26, 2026 and determination date is March 26, 2031.

Payment at maturity is cash per $1,000 face amount and depends on the underlier return: if the final level is at or above the initial level you receive at least a $1,468 threshold settlement amount or $1,000 plus the indexed return; if the final level is below the initial level but within a 15% buffer you receive the absolute underlier return; if below the buffer you incur losses tied to the downside beyond the 15% buffer. The notes pay no interest.

GS Finance Corp. is offering autocallable, index-linked notes due April 2, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 Index and the Russell 2000 Index and will pay no interest.

Key economic features: annual automatic call tests with call premiums of at least 13.5% (first call) and 27% (second call); a stated maturity premium amount of at least 40.50%; and a trigger buffer set at 80% of each initial underlier level. If not called, final cash at maturity depends solely on the lesser performing underlier and may result in complete loss of principal if that underlier falls below the trigger buffer.

GS Finance Corp. is offering leveraged S&P 500® Futures Excess Return Index-linked notes due March 31, 2031, fully 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, if the final underlier level is greater than the initial level, $1,000 plus the face amount multiplied by the upside participation rate and the underlier return. The upside participation rate is set at least at 109.7%. The trade date is March 26, 2026, the original issue date is March 31, 2026, and the determination date is March 26, 2031. The underlier tracks E-mini S&P 500 futures (Bloomberg symbol: "SPXFP Index"), not the S&P 500® Index; negative roll yields, futures financing costs and market disruptions can reduce the underlier level and therefore the cash payable at maturity. The notes are subject to the credit risk of the issuer and guarantor and to special U.S. federal tax rules for contingent payment debt instruments.

GS Finance Corp. is offering leveraged buffered S&P 500® Futures Excess Return Index‑linked notes due March 31, 2031, fully guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and settles in cash based on the underlier measured from the trade date to the determination date.

Key terms expected: trade date March 26, 2026, upside participation rate at least 146.7%, buffer level 70% (buffer amount 30%), buffer rate 100%. Notes pay no interest. If the final underlier level is above the initial level, holders receive $1,000 plus the upside participation times the underlier return. If the final level is between the buffer level and initial level, holders receive the face amount. If the final level is below the buffer level, holders suffer a pro rata loss; hypothetical examples show cash settlement as low as 30.000% of face at a 0% final underlier level. Investors bear the credit risk of the issuer and guarantor, and the underlier is linked to E‑mini S&P 500 futures (not the cash S&P 500® Index), exposing holders to roll/financing effects and potential negative roll yields.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering index-linked medium-term notes due April 5, 2029. Each $1,000 note pays no interest and will settle in cash at maturity based solely on the lesser performing underlier of the Russell 2000® and the S&P 500®. If both final underlier levels are greater than or equal to their initial levels, holders receive the maximum settlement amount (at least $1,217.50 per $1,000 face). If the final level of any underlier is below its initial level, holders receive the face amount of $1,000.

Key dates: trade date March 31, 2026, original issue date April 6, 2026, determination date April 2, 2029. The notes are subject to issuer and guarantor credit risk, limited upside by the cap, and special U.S. federal tax treatment as contingent payment debt instruments.

GS Finance Corp. offers Buffered S&P 500® Index‑Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note and are referenced to the S&P 500® Index. Trade date is March 31, 2026 and stated maturity is April 3, 2031. The notes pay no interest and repay a cash settlement at maturity that depends on the underlier return: full participation of at least 100% on upside; a 15% buffer (buffer level 85%) that preserves principal if the underlier falls up to 15%; losses occur for declines beyond the buffer, with the hypothetical examples showing material principal loss at deep declines.

GS Finance Corp. is offering S&P 500® Index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and repay the $1,000 face amount at maturity if the final index level is equal to or below the initial level. If the S&P 500 closes above the initial level on the determination date, the cash payment equals the face amount plus the underlier return, capped at a maximum settlement amount of at least $1,440 per $1,000 face amount. Trade date is March 31, 2026, original issue date April 6, 2026, determination date March 31, 2031, and stated maturity date April 3, 2031. Key terms will be set on the trade date and the estimated value per GS&Co.’s pricing models is lower than the original issue price; secondary market liquidity and the notes’ value will be influenced by the issuer and guarantor creditworthiness and market factors.

GS Finance Corp. is offering Goldman Sachs Momentum Builder® Focus ER Index‑Linked Notes due March 29, 2029 guaranteed by The Goldman Sachs Group, Inc.. The cash payment at maturity depends on the index return from the trade date to the determination date.

If the final index level is greater than the initial index level, holders receive $1,000 plus $1,000 × the upside participation rate × the index return (the upside participation rate is at least 320%). If the final index level is equal to or less than the initial index level, holders receive the face amount of $1,000. The index is subject to a 0.65% per annum deduction and may allocate substantial exposure to cash positions. Credit risk remains with the issuer and guarantor; trade date is March 26, 2026.

GS Finance Corp. is offering leveraged buffered EURO STOXX 50® index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest; cash at maturity depends on the EURO STOXX 50 performance from the trade date to the determination date.

Key economics shown: an upside participation rate of at least 160%, a buffer equal to 25% (buffer level at 75% of initial level) and a buffer rate of 100%. If the index ends below the buffer level, investors can lose a substantial portion of principal; purchasers are also exposed to issuer and guarantor credit risk.

GS Finance Corp. is offering Market Linked Securities — auto-callable, leveraged upside participation notes linked to the Class A common stock of CoreWeave, Inc. Each security has a $1,000 face amount; the original offering price is $1,000 and the estimated value at pricing is between $890 and $920 per $1,000 face amount. The starting price is $79.56 (set on the strike date February 27, 2026), the pricing date is March 3, 2026, the automatic call date is March 8, 2027, and the stated maturity is March 8, 2029.

The notes provide 170.00% upside participation if not called, an automatic call feature that pays at least a 50.00% call premium if the call threshold (69% of the starting price) is met on the call date, and a threshold price equal to 60% of the starting price (a 40% decline). If the ending price is below the threshold price, holders have 1-to-1 downside exposure and may lose up to 100% of principal. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; all payments are subject to issuer/guarantor credit risk.

GS Finance Corp. issues callable S&P 500® index-linked notes due March 31, 2032, guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of March 26, 2026 and an original issue date of March 31, 2026. They pay no interest and participate at an upside participation rate of 100% in positive S&P 500 performance measured from the initial level on the trade date to the final level on the determination date.

At maturity each $1,000 face amount pays $1,000 plus the product of $1,000 and the index return if positive; otherwise $1,000. The issuer may redeem in whole on specified monthly call payment dates beginning March 31, 2027 at 100% plus a call premium set on the trade date as shown in the call premium table. The estimated value on the trade date is between $885 and $935 per $1,000 face amount. Payment is subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering $ Buffered S&P 500® Index‑Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and have a stated maturity of March 11, 2031 with a determination date of March 6, 2031. For each $1,000 face amount, the cash settlement at maturity varies by S&P 500 performance: full participation in positive returns up to a maximum upside settlement amount of $2,020, an absolute positive return if the index declines up to the 20% buffer (buffer level = 80% of the initial level), and a proportional loss if the index falls more than the buffer. The initial underlier level, final underlier level, and exact issue price will be set on the trade date. Investors remain exposed to issuer and guarantor credit risk and may lose a substantial portion of principal if the final underlier level is below the buffer.

GS Finance Corp. offers autocallable S&P 500® Index-linked notes due March 13, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, carry a 125% upside participation rate, a 15% buffer (buffer level = 85% of the initial level) and an automatic-call feature on March 12, 2027. If automatically called, the payment would be $1,128 per $1,000 face amount. If not called, maturity payoff depends on final index performance and may result in a complete loss of principal; tax treatment is uncertain.