Here are the 424B prospectus supplements from Goldman Sachs Group Inc. (GS) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow GS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GS filings page.
GS Finance Corp. offers basket-linked notes due April 6, 2029 with payment tied to a weighted basket of TOPIX, the S&P 500® and the EURO STOXX 50®. The trade date is expected to be March 31, 2026 and the determination date is expected to be April 3, 2029. The notes pay no interest; final payment per $1,000 face depends on a weighted return calculation (weights: 45%, 40%, 15%). The upside participation rate will be at least 100%. If the weighted return is between 0% and -15% you receive $1,000; if below -15% you suffer losses proportional to the weighted return and could lose your entire investment. The issuer and guarantor credit risk and an estimated value of $925–$965 per $1,000 face are disclosed.
GS Finance Corp. is offering Buffered S&P 500 Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc., with terms set on the trade date.
The notes reference the S&P 500® Index, have a 15% buffer (buffer level 85%), a buffer rate of approximately 117.65%, no periodic interest, a maximum cash settlement capped at $1,215 per $1,000 face amount, a trade date of March 26, 2026, an original issue date of March 31, 2026, a determination date of March 27, 2028, and a stated maturity date of March 30, 2028. The notes permit the possibility of a total loss if the final underlier level falls below the buffer level and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.
GS Finance Corp. is offering zero‑coupon, principal‑protected notes guaranteed by The Goldman Sachs Group, Inc. The notes reference an equally weighted basket of seven common stocks (trade date February 24, 2026) and mature on March 1, 2029. For each $1,000 face amount, holders receive $1,000 if the final basket level is equal to or below the initial level (100). If the final basket level is above the initial level, holders participate 100% up to a 128% cap, producing a maximum settlement amount of $1,280 per $1,000 face amount. The basket lists seven stocks (AMD, B, INTC, LRCX, MU, NOC, WDC) with initial basket stock prices disclosed. The estimated value on the trade date was approximately $966 per $1,000 face amount; original issue price is 100% with an underwriting discount of 2.5% and aggregate face amount of $930,000. GS&Co. is the calculation agent; payments remain subject to issuer and guarantor credit risk.
The Goldman Sachs Group, Inc. is offering Canadian dollar denominated fixed-to-floating senior notes due in 2032 and 2037. Each series pays a fixed rate during an initial fixed-rate period and then a floating rate tied to Compounded CORRA plus a spread during a final floating-rate period. The notes are issued in book-entry form, in minimum denominations of CAD100,000, and are being sold in Canada on a private placement basis to accredited investors and, in some cases, permitted clients. The prospectus supplement highlights CORRA fallback provisions, an appointed calculation agent (Goldman Sachs & Co. LLC) with discretionary authority to determine replacement rates and adjustments if CORRA is discontinued, and optional make-whole and par redemption mechanics for each series. Interest will accrue from March , 2026, and the underwriters expect settlement through CDS on March , 2026. The supplement warns that CORRA replacement, calculation-agent discretion and limited market liquidity could affect interest and secondary-market value.
The Goldman Sachs Group, Inc. is offering $18,000,000 principal amount of Callable Fixed Rate Notes due February 26, 2038 bearing interest at 5.25% per annum, with annual interest payments each February 26 beginning February 26, 2027. The notes are callable at the issuer's option on specified calendar dates beginning February 26, 2028 at a redemption price equal to 100% of principal plus accrued interest, with at least five business days' prior notice.
The offering price is 100% of principal, underwriting discount is 1.75%, and net proceeds before expenses to the issuer are $17,685,000. The notes will be issued in book-entry form through DTC and settle on February 26, 2026.
GS Finance Corp. offers Autocallable S&P 500® Index-Linked Notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes are sold at 100% of face amount with a 2% underwriting discount and 98% net proceeds. Trade date is March 26, 2026; original issue date is March 31, 2026; stated maturity is March 29, 2029.
Key payout rules: the notes bear no interest and will be automatically called if the closing level of the S&P 500 (the underlier) on the call observation date is greater than or equal to the initial level. If called, the issuer will pay at least $1,085.50 per $1,000 face amount on the call payment date. If not called, final cash at maturity depends on the underlier return with an upside participation rate of 200%, a buffer level at 90% of the initial level and a buffer rate of approximately 111.11%. Investors could lose their entire investment if the final underlier level is below the buffer level.
GS Finance Corp. offers underlier-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a cash settlement at maturity per $1,000 face amount tied to the lesser performing underlier of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF.
Key terms set on the trade date include an 221.25% upside participation rate, a trigger buffer level of 65% of each initial underlier level, 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. The notes do not bear interest and you may lose up to 100% of your investment if the final lesser performing underlier level is below the trigger buffer.
GS Finance Corp. offers $autocallable S&P 500® index-linked notes due April 9, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes have a 100% upside participation rate, no interest, an automatic-call feature with a $1,050 minimum call payment per $1,000 face amount on the call payment date, and payments tied to the S&P 500 closing levels, subject to adjustment.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes that bear interest at 4.30% per annum from and including the original issue date (expected March 18, 2026) to but excluding the stated maturity date (expected March 18, 2030).
Interest is payable semiannually on expected payment dates March 18 and September 18, beginning on the first expected payment date September 18, 2026. The issuer may redeem the notes in whole (not in part) on quarterly redemption dates on or after March 18, 2028, at a price equal to 100% of principal plus accrued interest. Delivery to investors is expected in New York on March 18, 2026.
The Goldman Sachs Group, Inc. is offering callable fixed rate medium-term notes bearing interest at 5.55% per annum from and including the original issue date (expected March 17, 2026) to but excluding the stated maturity date (expected February 26, 2046).
Interest is payable annually on each March 17 (and at maturity), with the first payment expected on March 17, 2027. The notes are callable in whole, not in part, on scheduled redemption dates expected each March 17, June 17, September 17 and December 17 on or after March 17, 2029, at a redemption price equal to 100% of principal plus accrued interest.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged EURO STOXX 50® index-linked notes due March 13, 2031 with a trade date of March 9, 2026 and original issue date of March 12, 2026.
The notes pay no interest and the cash settlement per $1,000 face amount at maturity depends on the underlier return: if the final level exceeds the initial level, payment equals $1,000 plus $1,000 times an upside participation rate of 182.5% times the underlier return; if the final level is equal to or below the initial level, payment equals $1,000 plus $1,000 times the underlier return, which can result in loss of principal up to the full investment.
GS Finance Corp. is offering index-linked notes due April 5, 2028 (expected) guaranteed by The Goldman Sachs Group, Inc. The payoff is linked to the lesser performing of the S&P 500® and Russell 2000® measured from the trade date (expected March 31, 2026) to the determination date (expected March 31, 2028). The notes do not pay interest and feature an upside participation rate of at least 105% on positive or zero returns. A trigger buffer at 75% (i.e., -25%) flips treatment: if the final level of any underlier is below the trigger buffer, the holder suffers the full negative return of the lesser performing underlier; if final levels are between the trigger buffer and initial level, the holder receives the absolute value of the lesser performing return. The issuer estimates an initial model value between $925 and $965 per $1,000 face amount, below issue price. Payments are unsecured and subject to the credit risk of GS Finance Corp. and its guarantor.
GS Finance Corp. is offering autocallable index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 Index and the Russell 2000 Index, trade date February 27, 2026, original issue date March 4, 2026, and stated maturity March 2, 2029.
Key economics: no periodic interest; automatic call if both underliers are at or above initial levels on an observation date with call premiums of 7.65% (call payment March 4, 2027) and 15.3% (call payment March 2, 2028); maturity premium amount is 22.95%. If not called, the cash settlement at maturity is based solely on the lesser performing underlier and upside is capped; downside can limit return to the face amount.
GS Finance Corp. is offering autocallable S&P 500® index-linked notes guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, an 110% upside participation rate and pays no periodic interest. The notes may be automatically called on the call observation date; if called, each $1,000 note would pay at least $1,090 on the call payment date. If not called, at the stated maturity the cash settlement equals $1,000 plus $1,000 × the 110% upside participation × the underlier return when the final underlier level exceeds the initial level, and equals $1,000 if the final level is equal to or below the initial level. Key dates include trade date March 30, 2026, original issue date April 2, 2026, call observation date March 30, 2028, call payment date April 6, 2028, and stated maturity date April 9, 2029. Investors are exposed to issuer and guarantor credit risk, liquidity risk, capped upside on a call, and special U.S. federal tax treatment as a contingent payment debt instrument.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes that pay interest at 4.40% per annum from and including the expected original issue date of March 17, 2026 to the expected stated maturity date of February 26, 2031.
The notes pay interest annually on expected March 17 (first payment expected March 17, 2027), are issued in book-entry form through DTC, and are redeemable at the issuer's option in whole (but not in part) on expected quarterly redemption dates on or after March 17, 2027, at 100% of principal plus accrued interest with at least five business days' notice. The offering lists Goldman Sachs & Co. LLC and InspereX LLC as underwriters and states the notes are a new issue with no established trading market.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon index-linked notes due March 11, 2031. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 indices and pay a contingent monthly coupon of 0.625% (7.50% annualized) when each underlier is at or above a 70% coupon trigger on observation dates.
The notes will be automatically called on specified quarterly call payment dates if each underlier is at or above its initial level on the related call observation date. If not called, the cash settlement at maturity is based solely on the lesser performing underlier versus its initial level (with a trigger buffer at 70%), meaning investors can lose up to 100% of their investment. Trade date is March 4, 2026; original issue date March 9, 2026; determination date March 4, 2031. CUSIP: 40058XU85.
GS Finance Corp. is offering S&P 500® index-linked notes due September 18, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note, do not pay interest, and pay at maturity either the face amount if the underlier return is zero or negative, or $1,000 + ($1,000 × underlier return) if the final underlier level exceeds the initial level, subject to a maximum settlement amount of at least $1,407. Key dates in the terms: trade date March 13, 2026, original issue date March 18, 2026, and determination date September 13, 2030. The issuer and guarantor credit risk, the underwriting/structuring fees (which make the original issue price exceed the notes' estimated model value), the capped upside, absence of interest, potential limited secondary-market liquidity, and contingent-payment tax treatment are highlighted as primary risks in the pricing supplement.
GS Finance Corp. is offering autocallable, index-linked notes due March 13, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500, carry no interest, and repay based on the lesser performing underlier. The notes include semi-annual automatic call observation dates beginning March 8, 2027 with escalating call premiums (first call premium 8.25%) and an upside participation rate of 100%. If not called, maturity payoff uses an 80% buffer level and a 100% buffer rate, meaning investors may lose a substantial portion of principal if the lesser performing underlier falls below the buffer level. Trade date is March 6, 2026 (original issue date March 11, 2026).
GS Finance Corp. is offering autocallable index-linked notes due March 11, 2031, guaranteed by The Goldman Sachs Group, Inc. The cash payoff depends on the worst-performing of three underliers: the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The notes pay no interest, feature monthly automatic-call opportunities beginning with observation dates in March 2027 through February 2031 with rising call premiums, and have a capped maturity upside of 60.00% of face amount. If the final level of any underlier falls below a 70% trigger buffer, holders can suffer losses equal to the lesser performing underlier return, potentially losing their entire investment.
GS Finance Corp. offers principal-at-risk, non-interest-bearing notes linked to an equally weighted basket of seven common stocks, with an initial basket level of 100. The notes have an expected trade date of March 13, 2026, an expected automatic call observation on March 22, 2027 (call payment March 25, 2027), and an expected stated maturity of March 16, 2029.
If automatically called, each $1,000 face amount pays $1,142.50. At maturity, payoffs depend on the basket return: positive returns receive 125% upside participation; modest negative returns up to -35% produce payments equal to the absolute basket loss as a positive credit; deeper losses below the trigger buffer of 65% (i.e., basket return below -35%) expose investors to downside pro rata and may result in receiving less than 65% of face amount.
GS Finance Corp. offers autocallable notes linked to the Russell 2000® Index, due and guaranteed by The Goldman Sachs Group, Inc. The notes have a strike date of February 24, 2026, a trade date of February 25, 2026, an original issue date expected on February 27, 2026, a determination date of February 26, 2029, and a stated maturity of March 1, 2029.
They carry an autocall barrier of 100.00% of the initial index level and tiered call returns based on time outstanding (a per annum rate of 13.00% yielding illustrative cash payoffs of $11.30, $12.60, and $13.90 on the three call payment dates). If not called, holders suffer full downside exposure: the cash settlement equals $10 plus $10 times the index return, which can be zero.
The original issue price is 100.00% of face amount, estimated model value is between $9.40 and $9.70 per $10 face, underwriting discount is 2.00%, net proceeds 98.00%, and minimum purchase is $1,000. Payments are unsecured and subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.; U.S. federal tax treatment is described as uncertain.
GS Finance Corp. files a preliminary prospectus supplement for market-linked notes backed by The Goldman Sachs Group, Inc. as guarantor. The notes are non‑interest bearing, reference an equally weighted basket of seven common stocks and are expected to mature on March 16, 2029, with an automatic call observation date expected on March 22, 2027. If called, each $1,000 face amount would pay $1,187.50 on the call payment date. At maturity, payments depend on the basket return with an upside participation rate of 125%, a trigger buffer at 65% of the initial basket level and potential principal loss if the final basket level is below that buffer. The estimated model value on the trade date is between $925 and $955 per $1,000 face amount; original issue price is 100% of face amount. Pricing, call/determination dates and initial basket stock prices are expected to be set on the trade date (expected March 13, 2026); terms remain subject to change.
GS Finance Corp. is offering leveraged buffered S&P 500® Futures Excess Return 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 underlier's performance.
Key economic terms set on the trade date include an upside participation rate of 130.25%, a buffer level of 80% (a 20% buffer) and a buffer rate of 100%. Trade date is March 6, 2026, original issue date March 11, 2026, determination date March 6, 2029 and stated maturity March 9, 2029. If the final underlier level exceeds the initial level, holders receive the face amount plus participation in upside. If the final level is at or above the buffer level but not above initial, holders receive the face amount. If the final level is below the buffer level, holders suffer a proportional loss and can lose a substantial portion of principal.
GS Finance Corp. is offering $ callable contingent coupon index-linked notes due 2030, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $9.25 per $1,000 (0.925% monthly, up to 11.10% annually) when each underlier closes at or above its coupon trigger level (70% of initial).
At maturity the cash payment per $1,000 depends on the lesser performing underlier (Nasdaq-100, Russell 2000, S&P 500). If the final level of any underlier is below its trigger buffer (65%), investors may suffer substantial principal loss, including total loss. The issuer may redeem the notes on quarterly coupon dates beginning June 2026.
GS Finance Corp. is offering S&P 500® Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and, at maturity, will settle in cash per $1,000 face amount: either $1,000 if the underlier return is zero or negative, or $1,000 + ($1,000 × underlier return) capped at a maximum settlement amount of at least $1,127.50. Key dates: trade date March 31, 2026, original issue date April 6, 2026, determination date March 31, 2028, stated maturity April 5, 2028. The underlier is the S&P 500® Index (Bloomberg: SPX Index).
These notes are part of the Medium-Term Notes, Series F program and are subject to the credit risk of GS Finance Corp. and its guarantor. The notes will be treated as contingent payment debt instruments for U.S. federal income tax purposes. The offering price exceeds the model-derived estimated value due to underwriting discounts and fees.
GS Finance Corp. is offering leveraged buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay at maturity based on the S&P 500 performance from the trade date to the determination date with an upside participation rate of 200% and a maximum settlement amount of at least $1,212.50.
Holders receive $1,000 per note if the final underlier level is at or above the buffer level of 90%; for increases above the initial level holders receive the upside participation subject to the cap; if the final level is more than the buffer decline, principal is reduced proportionately. Trade date is March 31, 2026, original issue date April 6, 2026, determination date March 31, 2028, and stated maturity April 5, 2028.
The Goldman Sachs Group, Inc. is offering callable fixed rate medium-term notes that pay interest at 5.00% per annum from and including the original issue date (expected March 17, 2026) to but excluding the stated maturity date (expected February 26, 2036). Interest is payable annually on each interest payment date (expected March 17 each year), with the first payment expected on March 17, 2027.
The notes will be issued in book-entry form through DTC and are callable at the issuer's option in whole (but not in part) on scheduled quarterly redemption dates beginning on or after September 17, 2027, at a redemption price equal to 100% of principal plus accrued interest. The underwriters named are Goldman Sachs & Co. LLC and InspereX LLC, and delivery is expected in New York on March 17, 2026.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due March 16, 2029 that pay interest at 4.20% per annum from and including the original issue date (expected March 16, 2026) to but excluding the stated maturity date. Interest is payable on each interest payment date (expected March 16 and September 16), with the first payment expected on September 16, 2026.
The notes may be redeemed by the issuer in whole, but not in part, on scheduled redemption dates (expected each March 16, June 16, September 16 and December 16 on or after March 16, 2027) upon at least five business days' prior notice at a redemption price equal to 100% of principal plus accrued and unpaid interest.
GS Finance Corp. is offering $ Callable Contingent Coupon Index-Linked Notes due March 18, 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the Russell 2000® Index and the S&P 500® Index and pay a contingent quarterly coupon.
Trade date is March 13, 2026 with original issue date March 18, 2026. Each coupon observation compares each underlier to a coupon trigger level equal to 55% of its initial level; if both underliers meet or exceed that level on an observation date, the coupon for each $1,000 face amount will be at least $20.125 (at least 2.0125% quarterly). The issuer may redeem the notes on coupon payment dates commencing in September 2026 through December 2030. The cash settlement at maturity is determined solely by the lesser performing underlier’s return and can result in a total loss of principal.
The issuer GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable medium-term notes linked to the common stock of Oracle, Amazon, Salesforce and Walmart. Each $1,000 face amount can pay a monthly coupon of $6.25 (0.625% monthly; 7.5% annualized) if, on a coupon observation date, the closing price of each index stock is at least 70% of its initial index stock price. The notes may be automatically called on call observation dates beginning in March 2027 if each index stock at that observation date is at or above its initial price; called notes pay principal plus the then-due coupon. The trade date and initial index stock prices are expected on or about March 2, 2026, with an original issue date expected on March 5, 2026 and a stated maturity expected on March 6, 2031. The prospectus notes an estimated value at pricing of $885 to $925 per $1,000 face amount and emphasizes that payments are subject to the issuer's and guarantor's credit risk.
GS Finance Corp. is offering ETF‑linked notes due March 8, 2028 that pay a cash amount per $1,000 face amount based on the lesser performing of the SPDR® Gold Trust (GLD) and the iShares® Silver Trust (SLV). The notes cap positive returns at a $1,332.50 maximum settlement amount per $1,000 and pay only the face amount if the lesser performing ETF’s return is zero or negative. The trade date is expected to be March 3, 2026 and the original issue date March 6, 2026. The estimated value at pricing is between $925 and $955 per $1,000 face amount. The notes pay no interest, are unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc., exposing holders to issuer and guarantor credit risk. Initial underlier levels will be set on the trade date; holders have no shareholder rights in the underliers.
GS Finance Corp. is offering auto-callable, market‑linked medium‑term notes due March 9, 2029 guaranteed by The Goldman Sachs Group, Inc.. The securities are linked to the lowest performing of three State Street SPDR ETFs and pay a monthly contingent coupon of at least $8.209 per $1,000 face amount (approximately 9.85% per annum) if the lowest performing underlier on a calculation day is >= its coupon threshold (70% of starting price). The securities will be automatically called if the lowest performing underlier on any call date from September 2026 through February 2029 is >= its starting price, in which case holders receive face amount plus a final contingent coupon. At maturity, if not called, principal protection depends on the lowest performing underlier: holders receive $1,000 if that underlier's ending price >= its downside threshold (60% of starting price), but may lose more than 40% (and possibly all) of principal if it is below that threshold. Estimated value at pricing is between $925 and $955 per $1,000; original offering price is $1,000 with underwriting discount up to $23.25 and proceeds to issuer of $976.75. All payments are subject to issuer and guarantor credit risk; there is no exchange listing.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-at-risk notes linked to the Class A common stock of Meta Platforms, Inc., the common stock of Advanced Micro Devices, Inc., Tesla, Inc. and Palantir Technologies Inc.. The notes mature on the stated maturity date expected to be March 2, 2029 and use monthly coupon observation dates expected on the 27th of each month from March 2026 through February 2029.
Coupons accrue only when each index stock’s closing price on an observation date is at least 70% of its initial price; the coupon formula uses $21.667 per $1,000 face amount per qualifying month. Principal at maturity depends on the lesser performing index stock versus its initial price and has a 60% trigger buffer; if the lesser performing stock finishes below 60% the face amount is reduced pro rata. The estimated value on the trade date is between $925 and $955 per $1,000 face amount.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes that pay interest at 5.00% per annum from and including the original issue date (expected March 6, 2026) to but excluding the stated maturity date (expected September 6, 2033).
Interest is expected to be paid annually on each March 6 and at maturity, with the first payment expected on March 6, 2027. The notes are callable in whole, but not in part, on scheduled redemption dates beginning on or after March 6, 2027, 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 subject to FATCA withholding and the U.S. federal income tax rules summarized in the supplement.
GS Finance Corp. is offering autocallable, EURO STOXX 50® index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest; payment depends on the underlier’s performance.
The notes feature a 150% upside participation rate, a trigger buffer level of 80% and an automatic call if the underlier on the call observation date is greater than or equal to the initial level. If automatically called, holders receive at least $1,138.50 per $1,000 on the call payment date (March 18, 2027). If not called, final payoff at maturity (March 16, 2029) depends on the final underlier level as measured on the determination date (March 13, 2029), including scenarios where investors may lose up to their entire investment. Investors are exposed to issuer and guarantor credit risk and secondary market illiquidity.
GS Finance Corp. offers autocallable contingent coupon notes linked to the iShares® Semiconductor ETF (SOXX), guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of February 27, 2026, an expected original issue date of March 4, 2026, and an expected stated maturity date of March 4, 2030. Coupons of $45.125 per $1,000 face amount are payable on each coupon payment date if the ETF closing level is ≥ 75% of the initial level; coupons equal 4.5125% quarterly (up to 18.05% per annum). The notes are automatically called if the ETF closing level on a call observation date is ≥ the initial level, in which case holders receive principal plus the coupon on the call payment date. At maturity, cash settlement depends on the ETF return versus trigger levels at 75% and a trigger buffer at 65%. The estimated value at pricing is between $900 and $930 per $1,000 face amount.
GS Finance Corp. is offering autocallable index-linked notes due April 7, 2028, guaranteed by The Goldman Sachs Group, Inc.. The notes reference the Russell 2000® and S&P 500® indices and include an automatic call feature on the call observation date March 31, 2027.
Key economic terms in the pricing supplement: an upside participation rate of 200%, a per-underlier buffer level equal to 85% of its initial level (buffer amount 15% and buffer rate 100%). If called, the minimum call payment equals $1,115 per $1,000 face amount; if not called, maturity payment depends on the lesser performing underlier on the March 31, 2028 determination date.
GS Finance Corp. offers S&P 500® Index‑linked Absolute Return Trigger Notes due April 5, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes are issued in $1,000 denominations and pay a cash settlement at maturity tied to the S&P 500® Index performance measured from the trade date (expected March 31, 2026) to the determination date (expected March 31, 2028). If the final index level moves beyond the upper (120%) or lower (80%) barrier relative to the initial level, a barrier event occurs and holders receive at least $1,040 per $1,000 face amount (a contingent return of 4%). If no barrier event occurs, the cash payment equals $1,000 plus $1,000 times the absolute underlier return, capped at 20% (maximum payment $1,200). The estimated value on the trade date is expected to be between $925 and $965 per $1,000. The notes do not bear periodic interest and are subject to issuer and guarantor credit risk, market‑value volatility, and special U.S. tax rules for contingent payment debt instruments.
GS Finance Corp. is offering callable, non‑interest bearing notes linked to the iShares® MSCI Emerging Markets ETF (EEM). The notes are expected to trade on February 27, 2026, have an expected stated maturity of March 2, 2029, and pay at maturity based on the ETF performance.
The notes provide an 150% upside participation rate if the final ETF level is above the initial level, return the $1,000 face amount if the final level is between 50% and 100% of the initial level, and expose holders to downside below the 50% trigger (possible loss of principal). The issuer may redeem the notes on scheduled call dates with specified call premiums; estimated value at pricing is between $925 and $955 per $1,000 face amount.
GS Finance Corp. offers S&P 500®-linked indexed notes due September 8, 2031 (expected) with a $10 face amount per note. These non-interest-bearing notes pay at maturity an amount tied to the arithmetic average of the S&P 500 during an initial averaging period (expected Feb 24–May 1, 2026) and a final averaging period (expected June 4–Sep 3, 2031), and are subject to a 13.00% buffer, a downside threshold of 74.00%, a cap level of ~161.001% and a maximum settlement amount of $18.70 per $10 face. The notes include a contingent payment of $12.64 (26.40% contingent return) and upside gearing (max 1.478, min 0.8). Trade date is expected to be February 25, 2026 and original issue price is 100.00% with an underwriting discount of 0.25%. The estimated value at pricing is cited as $9.65–$9.95 per $10 face. Payments are unsecured obligations subject to the credit risk of GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor). Terms are subject to completion and the initial and final index levels will be determined by averaging; calculation agent discretion, market disruption provisions and tax treatment uncertainties are disclosed.
The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due March 17, 2028 that pay interest at 4.00% per annum, with an expected original issue date of March 17, 2026. Interest is payable semiannually on expected payment dates March 17 and September 17, with the first payment expected on September 17, 2026.
The issuer may redeem the notes in whole (but not in part) on scheduled redemption dates beginning on or after September 17, 2026, subject to at least five business days' prior notice, 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 under the Senior Debt Indenture.
The Goldman Sachs Group, Inc. proposes Callable Fixed Rate Notes due 2033. The notes will bear interest at 4.70% per annum from and including the original issue date (expected March 17, 2026) to but excluding the stated maturity date (expected February 25, 2033). Interest payment dates are expected annually on March 17, with the first payment expected on March 17, 2027.
The issuer may redeem the notes in whole, but not in part, on scheduled quarterly redemption dates (expected each March 17, June 17, September 17 and December 17 on or after September 17, 2027) upon at least five business days’ prior notice at a redemption price equal to 100% of principal plus accrued interest. The notes will be issued in book-entry form through DTC.
GS Finance Corp. is offering an equity‑linked structured note maturing on February 27, 2031 that references an equally weighted basket of Adobe, Intuit and Palantir. The notes are callable on February 23, 2027 for a fixed cash payment of $1,200 per $1,000 face amount if the basket closing level is at or above the initial level. If not called, the final payout at maturity depends on the basket return with an upside participation rate of 132.5%, a trigger buffer of 50%, and downside exposure below that buffer. The prospectus lists an aggregate original face amount of $850,000 on the issue date and an estimated value of approximately $958 per $1,000 face amount on the trade date.
GS Finance Corp. is offering State Street SPDR S&P Homebuilders ETF‑linked notes due May 11, 2027. The notes pay no interest and return at maturity is tied to the ETF’s performance from the trade date (expected March 6, 2026) to the determination date (expected May 6, 2027).
Key terms: participation 200%, cap level 112.4% (maximum settlement $1,248 per $1,000 face), trigger buffer 90% (no loss up to a <=10% decline). If final ETF level is below the trigger buffer, investors absorb the ETF loss and could lose their entire investment. Trade/issue mechanics: original issue price 100%, underwriting discount 2%, estimated value at terms $925–$955 per $1,000 face. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent, cash-settled notes linked to the common stock of Salesforce, Inc. The notes total an aggregate face amount of $2,750,000, trade date February 23, 2026, original issue date February 26, 2026, and a stated maturity of August 26, 2027.
Each note has a face amount of $1,000, no interest, a maximum settlement amount of $1,248.70 per $1,000, and a trigger buffer level equal to 70% of the initial underlier level ($178.16). If the final underlier level is ≥ the trigger buffer, holders receive the maximum settlement; if below, holders lose 1% of face for each 1% decline below the initial level, potentially losing the entire investment. The underwriting discount is 2.35%, with net proceeds to the issuer of 97.65% of face amount.
GS Finance Corp. offers callable contingent coupon index-linked notes due March 12, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index and pay a contingent monthly coupon of 0.7125% (8.55% annualized potential) per $1,000 if each underlier meets its coupon trigger on observation dates.
Coupons require each underlier to be at or above a 70% coupon trigger; the cash settlement at maturity is tied to the lesser performing underlier return and uses a 60% trigger buffer. GS Finance may redeem the notes on coupon payment dates commencing September 2026 through February 2029. Investors could lose their entire investment if the lesser performing underlier falls sufficiently below its trigger buffer.
GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk, non-interest bearing notes linked to the lesser performing of the EURO STOXX 50 Index and the iShares MSCI EAFE ETF. The notes have a 250% upside participation rate, a $1,000 face amount per note, an aggregate face amount of $4,360,000, and were priced at 100% of face with a 0.75% underwriting discount. Trade date is February 23, 2026, original issue date February 26, 2026, determination date February 25, 2030, and stated maturity date February 28, 2030. At maturity the cash payment is based solely on the lesser performing underlier: if both underliers finish above initial levels you receive $1,000 + $1,000 * 250% * lesser underlier return; if any underlier finishes at or below its initial level the payment equals $1,000 + $1,000 * lesser underlier return, which can result in a total loss of principal. The notes do not pay interest and are subject to issuer and guarantor credit risk, ETF/index tracking differences, foreign currency risk, tax uncertainties, limited liquidity and other risks described in the supplement.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes that pay 4.60% interest per annum. The notes are expected to be issued on March 17, 2026 and have a stated maturity expected on March 17, 2031. Interest is payable each March 17 and September 17, with the first payment expected on September 17, 2026.
The issuer may redeem the notes in whole, but not in part, on scheduled quarterly redemption dates beginning on or after March 17, 2027, with at least five business days’ prior notice, at a redemption price equal to 100% of principal plus accrued and unpaid interest to but excluding the redemption date. The notes will be issued in book-entry form through DTC. The notes are unsecured senior debt under the Medium-Term Notes, Series N program and are not bank deposits, FDIC-insured, or bank guaranteed.
GS Finance Corp. is offering callable Contingent Coupon Index‑Linked Notes due March 18, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Russell 2000® and S&P 500® indices and pay a contingent quarterly coupon only if each underlier closes at or above 55% of its initial level on the related observation date. The issuer may redeem the notes on coupon payment dates commencing in September 2026 through December 2030. At maturity the cash settlement per $1,000 face amount depends on the lesser performing underlier; investors could lose their entire investment if that underlier falls sufficiently. Trade date is March 13, 2026 and original issue date is March 18, 2026.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due March 17, 2034. The notes bear interest at 5.00% per annum from the original issue date (expected March 17, 2026) payable annually on each March 17, with the first payment expected March 17, 2027. The issuer may redeem the notes in whole, not in part, on scheduled redemption dates beginning on or after March 17, 2028 (expected quarterly each March 17, June 17, September 17 and December 17) at a redemption price equal to 100% of principal plus accrued interest. The notes will be issued in book-entry form through DTC, settle in immediately available funds, and are a new issue with no established trading market. The offering is being distributed with Goldman Sachs & Co. LLC and InspereX LLC as underwriters, and FATCA withholding rules apply.