Goldman Sachs Group (GS) 424B Filings

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..

GS Finance Corp. is offering index‑linked notes due March 15, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the lesser performing of the Russell 2000® and the S&P 500® as measured from the trade date (expected March 11, 2026) to the determination date (expected March 12, 2029). If both index returns are ≥ 0%, the payoff equals principal plus the lesser index return times an upside participation rate of 106%. A buffer of 18% applies: if the final level of any index is 82% of its initial level, losses occur (cash settlement uses lesser performing index return plus 18%). The estimated value on the trade date is between $925 and $965 per $1,000 face amount.

GS Finance Corp. is offering $10-denominated leveraged buffered S&P 500® index-linked notes due 2028, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and reference the S&P 500 (SPX Index).

Key terms set on the trade date: trade date February 25, 2026, original issue date March 2, 2026, determination date February 25, 2028, and stated maturity date March 1, 2028. The notes offer an upside participation rate of 150% subject to a maximum settlement amount of $12.71 per $10 face amount. A buffer protects the first 10% of underlier decline (buffer level = 90%).

If the final underlier level is above the initial level, holders receive upside up to the capped amount. If the final level is at or above the buffer level but not above the initial level, holders receive the face amount. If the final level falls below the buffer level, holders incur leveraged downside (approximately 1.1111% loss of face per 1% decline beyond the buffer), potentially losing the entire investment.

GS Finance Corp. is offering leveraged buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note, do not bear interest, and settle in cash at maturity based on S&P 500 performance.

Key terms set on the trade date include an 150% upside participation rate, a 20% buffer (buffer level 80% of the initial underlier level), a buffer rate of 125%, and a maximum settlement amount of at least $1,212.50. Trade date is February 27, 2026, original issue date March 5, 2026, determination date February 28, 2028, and stated maturity date March 2, 2028. Payment scenarios are defined precisely in the supplement, including the conditions under which principal can be lost.

GS Finance Corp. is offering leveraged buffered S&P 500® index-linked notes due January 5, 2029, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount pays at maturity based on the S&P 500 performance from the March 30, 2026 trade date to the January 2, 2029 determination date.

If the final level is above the initial level, you receive $1,000 plus 200% participation of the index return capped at a maximum settlement amount of at least $1,230. If the final level is between the initial level and 85% (the buffer level), you receive $1,000. If the final level is below the buffer, losses are linear beyond the 15% buffer and you may lose a substantial portion of principal. The notes pay no interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers $1,000-face leveraged notes linked to the Nikkei 225 due March 13, 2031, guaranteed by The Goldman Sachs Group, Inc. The cash payment at maturity depends on the Nikkei 225 performance from the trade date to the determination date: if the final level is above the initial level, holders receive $1,000 + $1,000 × the upside participation rate × the underlier return; if the final level is equal to or below the initial level, holders receive $1,000 + $1,000 × the underlier return, exposing principal to loss.

The pricing assumes an upside participation rate of 127%, a trade date of March 9, 2026, original issue date March 12, 2026, and a determination date of March 10, 2031. Notes pay no interest, are paid in cash, and are subject to issuer and guarantor credit risk and uncertain U.S. federal tax treatment.

GS Finance Corp. offers autocallable, buffered notes linked to the SPDR® Gold Trust (GLD). The notes have an upside participation rate of 125%, a 10% buffer (buffer rate ~111.11%), an expected trade date of February 27, 2026, an expected original issue date of March 4, 2026, a call observation date of March 12, 2027 and an expected stated maturity of March 2, 2028.

If automatically called on the call observation date, the cash payment will be at least $1,162.50 per $1,000 face amount. If not called, maturity payoff depends on GLD performance: positive return = face plus 125% of ETF return; fall ≤10% = return of face; fall >10% = downside amplified by ~111.11%, potentially resulting in total loss. The notes pay no interest and carry issuer/guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value at pricing is between $900 and $930 per $1,000 face amount.

GS Finance Corp. is using a Nasdaq-100 Technology Sector Index Supplement dated February 24, 2026 as part of Registration Statement No. 333-284538 to describe the Nasdaq-100 Technology Sector Index (Bloomberg: NDXT). The supplement defines the index methodology (equal-weighted, price return), its sponsor Nasdaq, Inc., launch date February 22, 2006, and provides historical annualized returns and volatilities through February 2, 2026.

The document highlights investment risks, including credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., concentration and foreign-market risks, and Nasdaq’s discretionary control over the index. The supplement may be used in initial sales and in GS&Co. market-making transactions.

GS Finance Corp. is offering callable S&P 500® Futures Excess Return Index‑linked notes due February 25, 2031, guaranteed by The Goldman Sachs Group, Inc. The aggregate face amount initially offered is $792,000 and the face amount per note is $1,000. The notes pay no interest, have an initial underlier level of 559.81 (measured on the trade date February 20, 2026) and an upside participation rate of 500%. At maturity the cash settlement per $1,000 depends on the final underlier level on the determination date: if above the initial level you receive $1,000 plus 5x the index return; if at or above 60% of the initial level you receive $1,000; if below 60% you suffer a loss pro rata and could lose your entire investment. The issuer may redeem the notes on specified monthly call payment dates beginning February 25, 2027, each with a pre-set call premium. The estimated value on the trade date was approximately $951 per $1,000 face amount; original issue price is 100% with an underwriting discount of 1.125%.

GS Finance Corp. supplements its prospectus for offerings of medium-term notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, describing index mechanics, risks and terms that may apply to offered notes. The supplement explains daily rebalancing, a 0.65% annual deduction, a 5% volatility control, possible heavy allocations to cash positions, and that specific note terms will be set in applicable pricing and product supplements.

GS Finance Corp. is offering contingent monthly coupon, equity-linked notes tied to the Class C capital stock of Alphabet Inc., Microsoft Corporation and NVIDIA Corporation with an aggregate face amount of $718,000. The notes pay a contingent coupon when each underlier is at or above 70% of its initial level on observation dates and repay principal at maturity based on the performance of the lesser performing underlier. The issuer may redeem the notes on coupon payment dates from August 2026 through November 2028. Trade date is February 20, 2026 and stated maturity is February 23, 2029. The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer credit risk and potential total loss of principal if the lesser performing underlier falls below its trigger buffer level.

GS Finance Corp. is offering $4,704,900 aggregate face amount of autocallable notes linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The notes trade date is February 20, 2026 and original issue date is February 25, 2026. Quarterly call observation dates begin after 12 months; the autocall barrier is 100.00% of the initial index level. If automatically called, the notes pay the $10 face amount plus a call return that starts at 8.00% per annum and increases to 40.00% per annum on the final call, with corresponding cash amounts up to $14.00 per $10 at final call. If not called, maturity payment equals $10 plus $10 times the index return measured from the trade date to the determination date (February 20, 2031), which can result in a loss up to and including the entire investment. The original issue price is 100.00% of face and the estimated value at pricing was approximately $9.69 per $10 face amount. Minimum purchase is $1,000. All payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes pay no periodic interest.

GS Finance Corp. is offering auto-callable, non‑interest bearing notes due February 25, 2030 linked to the common stock of Apple Inc., the Class A common stock of Palantir Technologies Inc., and the Class A common stock of AppLovin Corporation. The notes will be automatically redeemed if, on any call observation date beginning March 1, 2027, the closing price of each index stock is at least 75% of its initial price.

If not called, the cash payment at maturity depends on trigger and buffer thresholds measured on the determination date February 20, 2030. Payments are capped at $1,970.032 per $1,000 face amount in certain outcomes, but can be significantly below principal if the lesser performing stock falls below 50% of its initial price. The trade date was February 20, 2026, original issue date February 25, 2026, issue price 100%, underwriting discount 1.95%, net proceeds 98.05%, and the estimated model value on the trade date was approximately $956 per $1,000 face amount.

The offered notes are issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The issuance links each $1,000 face amount to the MSCI EAFE Index with an aggregate face amount of $500,000. The notes pay no interest and mature on August 25, 2027 (determination date August 20, 2027), with the initial underlier level set at 3,127.06 as of February 19, 2026.

At maturity you receive cash per $1,000 face amount: (1) if the final level > initial level, $1,000 plus the underlier return subject to a maximum settlement amount of $1,240; (2) if the final level is between the buffer level and initial level (buffer = 85% of initial), you receive $1,000; (3) if the final level is below the buffer level, losses apply per the stated formula (buffer amount = 15%, buffer rate = 100%), and you could lose a substantial portion of principal. Terms are subject to adjustment as described in the general terms supplement.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity‑Linked Notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Uber Technologies, Inc. and pay contingent quarterly coupons dependent on the underlier meeting a 52% coupon trigger.

Trade date is February 24, 2026, original issue date February 27, 2026, determination date February 26, 2029 and stated maturity March 1, 2029. Notes are automatically called if the underlier closes at or above the initial level on a call observation date; maturity payoff is cash and can be as low as 0% of face if the final underlier level is sufficiently low.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to an equally weighted basket of eight stocks with an expected stated maturity of March 2, 2028 and an expected call observation date of March 12, 2027.

The notes pay only on the call payment date or at maturity based on the basket's closing level. If automatically called, each $1,000 face amount will pay at least $1,178. At maturity, upside participation is 125%; a buffer protects declines up to 15% (buffer level 85%, buffer rate ~117.65%). The estimated value at pricing is between $900 and $930 per $1,000 face amount. Credit risk rests with GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor).

GS Finance Corp. is offering Medium‑Term Notes, Series F, guaranteed by The Goldman Sachs Group, Inc., linked to the lowest performing of three State Street SPDR ETFs and due March 29, 2029. Each security has a $1,000 face amount and may pay a contingent coupon quarterly of at least $31.875 per $1,000 (equivalent to 12.75% per annum) if the lowest performing underlier meets its coupon threshold (75% of its starting price).

The notes are auto‑callable on quarterly call dates from September 2026 through December 2028 if the lowest performing underlier is at or above its starting price; if called you receive face amount plus a final contingent coupon. If not called, principal at maturity depends on the ending price of the lowest performing underlier: if below the downside threshold (70% of starting price) you may lose more than 30%, possibly all, of your investment. The estimated value at pricing is between $925 and $955 per $1,000; original offering price is $1,000 with underwriting discount up to $25.75 and proceeds to issuer of $974.25.

GS Finance Corp. is offering non‑interest, equity‑linked notes tied to the common stock of Boston Scientific Corporation with an expected trade date of February 27, 2026, an expected automatic call observation on March 12, 2027, and an expected stated maturity on March 2, 2028.

The notes pay no periodic interest, are automatically called if the closing price on the call observation date is at or above the initial index stock price with a minimum call payment of $1,158.50 per $1,000 face amount, and otherwise pay at maturity based on the index stock return with a threshold settlement amount of $1,317, a buffer of 15% (buffer rate approx. 117.65%), and potential loss of principal if the final stock price falls below the buffer. The estimated value at pricing is between $900 and $930 per $1,000 face amount.

GS Finance Corp. is offering market linked, auto-callable notes with an aggregate face amount of $380,000 linked to a common share of Cameco Corporation.

The notes pay a $38.75 contingent quarterly coupon per $1,000 face amount (a contingent coupon rate of 15.50% per annum) if the underlying stock meets the coupon threshold (50% of the starting price). The starting price is $121.35, the pricing date is February 20, 2026, the original issue date is February 25, 2026, and the stated maturity date is February 23, 2029. If not called, holders receive a maturity payment tied to the ending price versus the downside threshold (50% of the starting price), exposing investors to potential loss of more than 50% of principal; estimated value at pricing was approximately $960 per $1,000 face amount. The offering carries customary underwriting discounts (2.325%) and is subject to the issuers and guarantors credit risk.

The Goldman Sachs Group, Inc. is issuing $1,000,000 principal amount of fixed rate notes. The notes pay interest at 5.25% per annum from the original issue date February 24, 2026 to but excluding the stated maturity date February 26, 2046, with annual interest payments each February 24, commencing February 24, 2027.

The original issue price is 100% of principal, with an underwriting discount of 2.5% (net proceeds to issuer 97.5%). Goldman Sachs & Co. LLC agreed to purchase the offered notes and may act as a market maker in resales; the notes will be issued in book-entry form through DTC.

The Goldman Sachs Group, Inc. is offering $2,000,000 of fixed rate senior notes due February 24, 2031 pursuant to its Medium-Term Notes, Series N program. The notes carry a 4.50% per annum fixed interest rate, pay interest semiannually on February 24 and August 24, and accrue from the original issue date of February 24, 2026.

The notes will be issued at 100% of principal with an underwriting discount of 0.15% and net proceeds to the issuer of 99.85% of principal. The notes will be issued in book-entry form through DTC and will not be listed on any exchange.

The Goldman Sachs Group, Inc. is offering fixed rate notes with a principal amount of $4,000,000 under its Medium-Term Notes, Series N program. The notes bear interest at 4.65% per annum from the original issue date of February 24, 2026 and mature on February 24, 2033.

Interest is payable semiannually on the 24th of February and August, commencing August 24, 2026. The original issue price is 100% with an underwriting discount of 0.7% (net proceeds 99.3%). The notes will not be listed and will be issued in book-entry form through DTC. The offering is subject to distribution and jurisdictional restrictions described in the supplement.

The Goldman Sachs Group, Inc. is offering senior fixed rate notes with a principal amount of $2,000,000 under its Medium-Term Notes, Series N program. The notes bear interest at 4.40% per annum, accrue from the original issue date February 24, 2026, pay interest semiannually on February 24 and August 24, and mature on February 24, 2031.

The notes will be issued at an original issue price of 100% of principal, with an underwriting discount of 0.6% and net proceeds to the issuer of 99.4% of principal. The notes will not be listed on any exchange and will be issued in book-entry form through DTC.

The Goldman Sachs Group, Inc. is offering notes with a principal amount of $2,000,000 that pay interest at 4.75% per annum from the original issue date to the stated maturity date of February 24, 2033. Interest payments occur each February 24 and August 24, beginning August 24, 2026. The notes will be issued at an original issue price of 100% with an underwriting discount of 0.3% and net proceeds to the issuer of 99.7%. The notes will not be listed on any exchange, will be issued in book-entry form through DTC, and are not bank deposits or FDIC-insured. Goldman Sachs & Co. LLC is the calculation agent and initial purchaser; the offering is subject to distribution restrictions in the EEA, UK, Hong Kong, Singapore and Japan.

The Goldman Sachs Group, Inc. is offering $15,000,000 principal of Callable Fixed Rate Notes due February 24, 2029.

The notes pay interest at 4.15% per annum from the original issue date February 24, 2026, with semiannual interest payments on February 24 and August 24 (first payment August 24, 2026). The initial price to public is 100% and the underwriting discount is 0.393%, yielding proceeds before expenses to The Goldman Sachs Group, Inc. of $14,941,050.

The notes are callable by the issuer in whole (not in part) on each redemption date on or after February 24, 2027 (each Feb 24, May 24, Aug 24, Nov 24) at a redemption price equal to 100% of principal plus accrued and unpaid interest, subject to at least five business days' prior notice.

The Goldman Sachs Group, Inc. is issuing fixed-rate senior notes with a principal amount of $2,000,000 under its Medium-Term Notes, Series N program. The notes bear interest at 4.10% per annum, pay interest semiannually on February 24 and August 24 (with February 2029 payment on maturity), and mature on February 26, 2029. The notes will be issued at 100% of principal with an underwriting discount of 0.35% (net proceeds 99.65%). They will not be listed, are issued in book-entry form via DTC, and use the 30/360 (ISDA) day-count convention. Goldman Sachs & Co. LLC is the calculation agent and initial purchaser.

GS Finance Corp. issues Step Down Trigger Autocallable Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no coupons, have a $10 face amount, and may be automatically called on semi-annual observation dates for predetermined call returns that rise over time (example: 15.20% per annum at first call). If not called, the cash settlement at maturity is linked to the lesser performing of the S&P 500®, Russell 2000® and EURO STOXX 50® indices and can result in a loss up to the full investment; downside thresholds are 90.00% of initial index levels. Payments depend on issuer and guarantor creditworthiness and the notes may have limited secondary-market liquidity.

GS Finance Corp. is offering principal-protected structured notes linked to the common stock of Take-Two Interactive Software, Inc. The notes mature on March 9, 2028 and reference an initial index stock price set on the trade date (expected March 4, 2026) with a determination date expected on March 6, 2028.

The notes pay no interest; returns depend on the index stock return with an upside participation rate of 150%, a cap price of 128.5% of the initial index stock price (maximum settlement amount $1,427.5 per $1,000), and a buffer of 20% (buffer price 80%). The estimated value at pricing is expected to be between $925 and $955 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering Digital S&P 500® Index-Linked Notes due March 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and settle based on the S&P 500 performance measured from the trade date (February 26, 2026) to the determination date (February 26, 2031).

Payoff structure per $1,000 face: if final index >= 85% of initial level you receive $1,387; if final index is >= 70% but <85% you receive $1,000; if final index <70% you suffer a loss equal to the index return and could lose your entire investment. Estimated value at terms-setting is between $885 and $925 per $1,000 face.

GS Finance Corp. is offering leveraged, buffered Nasdaq-100 Index®-linked notes due March 1, 2029, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and does not pay interest.

Cash at maturity depends on the Nasdaq-100 performance from the trade date (February 26, 2026) to the determination date (February 26, 2029): upside participation is 125% subject to a maximum settlement amount of $1,426.50 per $1,000 face amount; a 15% buffer (buffer level = 85%) protects principal only if the underlier decline is ≤ the buffer; losses accrue pro rata below the buffer.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due March 3, 2035 with a stated interest rate of 5.00% per annum. Interest is expected to accrue from and including the original issue date (expected March 3, 2026) and to be paid semiannually each March 3 and September 3, beginning September 3, 2026.

The notes are callable by the issuer, in whole but not in part, on scheduled redemption dates on or after March 3, 2028 at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ prior notice. The notes will be issued in book-entry form through DTC, will settle through DTC, are not FDIC insured, and are subject to FATCA withholding rules. Delivery is expected in New York on March 3, 2026.