Goldman Sachs Group Inc. 424B Filings

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 50Index and the iSharesMSCI 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.

GS Finance Corp. is offering autocallable buffered notes linked to the iShares Expanded Tech-Software Sector ETF with an expected trade date of February 27, 2026, an original issue date expected to be March 4, 2026, a call observation date expected to be March 12, 2027 and a stated maturity date expected to be March 2, 2028.

The notes pay no interest, automatically redeem for $1,204 per $1,000 face amount if the ETF closes at or above the initial level on the call observation date, and otherwise at maturity provide 125% participation in positive ETF performance, a 15% buffer (buffer level = 85%) and a buffer rate of approximately 117.65%. The estimated value at pricing is between $900 and $930 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc.

The Goldman Sachs Group, Inc. is offering callable fixed rate medium-term notes that pay 5.10% per annum, with an expected original issue date of March 17, 2026 and expected stated maturity of March 17, 2036.

Interest is expected to be paid semiannually on March 17 and September 17, beginning September 17, 2026. The issuer may redeem the notes in whole, but not in part, on scheduled redemption dates on or after March 17, 2028, at a price equal to 100% of principal plus accrued interest. The offering will settle through DTC and is being distributed by underwriters including Goldman Sachs & Co. LLC and InspereX LLC.

GS Finance Corp. is offering S&P 500® index-linked notes due September 18, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return, per $1,000 face amount, either the face amount if the final underlier level is equal to or below the initial level or a cash payment tied to the S&P 500® Index gain up to a capped $1,432 maximum settlement amount. Terms are set on the trade date (March 13, 2026) with an original issue date of March 18, 2026. Investors remain exposed to the credit risk of GS Finance Corp. and its guarantor and to limited secondary market liquidity and underwriting/structuring discounts that may make market prices materially lower than the issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering non‑interest bearing structured notes linked to a weighted basket of six underliers including the EURO STOXX 50®, Nikkei 225, FTSE® 100, Swiss Market Index, S&P/ASX 200 and the iShares® China Large‑Cap ETF.

The notes have a 2× upside participation rate with a cap of $1,200 per $1,000 face amount and a 10% buffer (you receive face amount if the final basket level declines by up to 10%). Trade date is expected to be February 27, 2026 with an original issue date expected to be March 4, 2026 and a stated maturity date expected to be March 2, 2028. The pricing supplement states an estimated value at pricing between $925 and $955 per $1,000 face amount; original issue price is 100% with an underwriting discount of 2.25% and net proceeds of 97.75%.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2038 that pay interest at 5.20% per annum. The notes are expected to be issued on March 17, 2026 and have an expected stated maturity of March 17, 2038. Interest is payable annually on expected interest payment dates of March 17 each year, with the first payment expected on March 17, 2027.

The issuer may redeem the notes in whole, but not in part, on scheduled redemption dates beginning on or after March 17, 2028, with at least five business days’ prior notice, at a redemption price equal to 100% of principal plus accrued interest.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes that pay 5.30% interest per annum from and including the original issue date (expected March 18, 2026) to but excluding the stated maturity date (expected February 26, 2041).

Interest is payable annually on each interest payment date (expected March 18 of each year) with the first payment expected on March 18, 2027. The issuer may redeem the notes in whole (but not in part) on scheduled quarterly redemption dates beginning on or after March 18, 2029, at a price equal to 100% of principal plus accrued interest, subject to at least five business days’ prior notice.

The Goldman Sachs Group, Inc. is offering $6,000,000 of Callable Fixed Rate Notes due February 25, 2028. The notes pay interest at 4.00% per annum from the original issue date February 25, 2026, with semiannual interest dates on February 25 and August 25, beginning August 25, 2026.

The initial price to public is 100% (per note), with an underwriting discount of 0.183%, and estimated proceeds to the issuer of approximately $5,989,020 before expenses. The issuer may redeem the notes in whole, but not in part, on each scheduled redemption date on or after August 25, 2026, upon at least five business days' notice, at a redemption price equal to 100% of principal plus accrued interest.

GS Finance Corp. is offering Autocallable S&P 500^® Index-Linked Notes due 2030, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, feature an automatic call on the call observation date (March 19, 2027) if the closing level of the S&P 500 is at or above the initial level, and would pay at least $1,120 per $1,000 face amount on the call payment date.

If not called, maturity payout depends on the S&P 500 performance on the determination date (March 18, 2030): 120% upside participation if the final level exceeds the initial level; full return of principal for outcomes between the buffer and initial level; and a downside exposure tied to a 20% buffer and a 125% buffer rate that can result in loss of the entire investment. The notes are subject to issuer/guarantor credit risk, have no shareholder rights in the underlier, and may have limited market liquidity.

GS Finance Corp. offers contingent, buffered, auto-callable notes linked to CrowdStrike Class A stock with an aggregate face amount of $7,955,000. The notes mature on February 25, 2028 but will be automatically called on March 5, 2027 if the Class A closing price is >= the initial index stock price of $388.60, producing a capped call payment of $1,264.5 per $1,000 face amount on the call payment date.

If not called, final payment at maturity depends on the index stock return from February 20, 2026 to the determination date February 22, 2028. Positive or zero return yields the greater of a $1,529 threshold or principal plus participation (100%). A decline up to 20% returns the $1,000 face amount; declines below that expose investors to a 125% buffer rate, producing leveraged losses (e.g., a 25% stock decline implies a substantial principal loss). The estimated value at trade date was approximately $973 per $1,000 face amount; original issue price is 100% with a 1.5% underwriting discount.

GS Finance Corp. is offering Autocallable EURO STOXX 50® Index‑Linked Notes due March 16, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and feature an automatic call if the closing level of the underlier on the call observation date is greater than or equal to the initial underlier level; in that event the issuer will pay at least $1,174.50 per $1,000 on the call payment date. At maturity the cash settlement per $1,000 depends on underlier performance: 150% upside participation if final level exceeds initial level, $1,000 if final level is at or above the 80% trigger buffer, and $1,000×(1 + underlier return) if below the trigger buffer. The notes may result in a total loss of principal and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering callable Nasdaq-100 Index®-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of March 30, 2026 and an expected original issue (stated maturity) on April 2, 2026 with an expected stated maturity of April 2, 2031. The notes pay no interest, participate in positive Nasdaq-100 performance at an upside participation rate of 100%, and will return the face amount if the underlier return is zero or negative on the determination date. The issuer may redeem the notes in whole on monthly call payment dates beginning in April 2027 through March 2031 at 100% of face amount plus a call premium (call premium schedule set on the trade date). The estimated value at trade date is stated to be between $885 and $935 per $1,000 face amount, which is less than the original issue price. The notes are unsecured obligations of the issuer and subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. issues a structured, non-interest-bearing note linked to an equally weighted basket of Amazon, Shopify and Toast. The notes are expected to mature on February 27, 2031 with an automatic call observation expected on March 3, 2027. If called, each $1,000 face amount pays $1,200. At maturity the payoff uses an initial basket level of 100, an upside participation rate of 140% and a trigger buffer level of 60% of the initial basket level. The notes’ estimated model value on the trade date is between $885 and $925 per $1,000 face amount; purchase price and issuer credit risk (GS Finance and The Goldman Sachs Group, Inc.) affect actual returns.

The Goldman Sachs Group, Inc. is offering $15,000,000 in Callable Fixed Rate Notes due February 16, 2029 with a fixed interest rate of 4.30% per annum, payable monthly beginning March 25, 2026. The notes are callable at issuer option on monthly redemption dates on or after May 25, 2026, in whole but not in part, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ notice.

Goldman Sachs & Co. LLC expects to purchase the aggregate principal amount and initially offer the notes to the public at 100% of face value; underwriting discount equals 0.12% ($18,000). Settlement is set for February 25, 2026.

GS Finance Corp. is offering $50,650,000 aggregate face amount of Step Down Trigger Autocallable Notes due February 26, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the least performing of the S&P 500®, Russell 2000® and EURO STOXX 50® indices and carry no periodic coupon.

Key features: strike date February 20, 2026, trade date February 23, 2026, original issue date February 25, 2026, semi‑annual call observation dates beginning ~12 months after issue, and a downside threshold at 90.00% of each index's initial level. Call returns rise over time (per‑annum base 15.20%, with call payment examples from $11.52 to $17.60 per $10 face). If not called, final payment at maturity equals $10 plus $10 times the lesser performing index return; holders may lose a substantial portion or all principal. Payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering $15,000,000 aggregate principal amount of floating rate notes due February 25, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay interest at compounded SOFR plus a 1.05% spread, subject to a minimum interest rate of 0.50%, with quarterly payments beginning May 25, 2026.

Key issuance terms: original issue price 100% of principal, underwriting discount 0.75%, net proceeds to issuer 99.25%, trade date February 23, 2026, settlement/original issue date February 25, 2026. The notes are unsecured, not FDIC insured, not listed, and the calculation agent is Goldman Sachs & Co. LLC.

GS Finance Corp. offers autocallable notes linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The notes have a strike date February 24, 2026, expected trade date February 25, 2026, expected original issue February 27, 2026, and an expected stated maturity date March 1, 2029 (determination date February 26, 2029).

The notes will be automatically called if the S&P 500 closing level on a call observation date is at or above the autocall barrier (set at 100.00% of the initial index level of 6,890.07). Call returns per annum are 10.00%, 20.00% and 30.00%, producing hypothetical call payments of $11.00, $12.00 and $13.00 per $10 face amount on the three potential call payment dates. If not called, maturity payment equals $10 plus the index return times $10, and investors may lose some or all principal. Payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering $50,100,000 in Autocallable GEARS linked to the S&P 500® Index, due February 26, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no coupons, may be automatically called on March 2, 2027 if the index meets the autocall barrier, and at maturity pay an amount tied to the S&P 500® performance multiplied by an upside gearing of 1.85. If the final index level is below the initial index level, holders suffer full downside exposure and could lose their entire investment; payments are subject to the issuer's and guarantor's creditworthiness.

GS Finance Corp. offers structured, callable notes linked to the iSharesBitcoin Trust ETF (IBIT). The notes are expected to mature on March 2, 2029 unless automatically called on monthly observation dates beginning in February 2027 through January 2029.

Coupons of $15.209 per $1,000 (1.5209% monthly / ~18.25% annualized) are payable on a coupon payment date only if the ETF closing level on the related coupon observation date is at least 60% of the initial ETF level. A final cash settlement at maturity depends on the ETF return: no principal loss if final level is >= 60% of initial, limited principal return between 50% and 60%, and pro rata loss if the final level is below 50%. The pricing supplement discloses an estimated value of the notes on the trade date of between $925 and $955 per $1,000 face amount.

Credit risk rests with GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor). The notes track bitcoin-linked ETF performance and carry significant crypto-related risks including high price volatility, valuation and custody risks. Key thresholds: coupon trigger = 60% of initial level; trigger buffer level = 50% of initial level. Trade date and initial underlier level are expected to be set on February 27, 2026.

GS Finance Corp. offers callable index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the MSCI EAFE and EURO STOXX 50 indices, include a 50% trigger buffer, an upside participation rate of 250%, and expected stated maturity of March 2, 2029. Trade date is expected to be February 27, 2026 and original issue date expected March 4, 2026. Holders receive at maturity either (i) principal plus 2.5x the lesser performing index return if both indices finish above their initial levels, (ii) $1,000 if both finish at or above 50% of initial levels but at least one is at or below its initial level, or (iii) a loss pro rata to the lesser performing index if that index closes below 50% of its initial level. The estimated value at pricing is approximately $925 to $955 per $1,000 face amount. The notes are callable on specified call payment dates beginning in March 2027 through January 2029 at predefined call premiums. Credit risk is that of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering non‑interest medium‑term notes linked to the common stocks of Devon Energy Corporation, Alphabet Inc. Class A and Morgan Stanley. The notes mature March 9, 2029 but are subject to automatic call starting on March 10, 2027.

Payoff scenarios: automatic call pays $1,000 plus a call premium (table specifies amounts). If not called, maturity payoffs depend on a trigger event (all three final prices below their initial prices) and the lesser performing stock’s return; capped upside is $1,651 per $1,000 if final prices meet thresholds. The estimated value on the trade date is between $925 and $955 per $1,000 face amount. Payments are unsecured and depend on the credit of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc..