Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. is offering $ callable Contingent Coupon Index‑Linked Notes due March 4, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent semi‑annual coupon of $38.75 per $1,000 (up to 7.75% per annum) if each underlier meets its 60% coupon trigger on the coupon observation date.

Principal at maturity is cash‑settled per $1,000 based solely on the performance of the lesser performing underlier (Nasdaq‑100, Russell 2000, S&P 500) versus its initial level; if that lesser performing underlier falls below its 60% trigger buffer, principal can be substantially or entirely lost. The issuer may redeem the notes on coupon payment dates commencing September 1, 2026.

The issuer, GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.), is offering structured, non-interest-bearing notes linked to the common stocks of Alphabet Class C, Broadcom and Meta. The notes may be automatically called on February 18, 2027 paying $1,215 per $1,000 face amount if each index stock is ≥ 90% of its initial price. If not called, maturity is February 25, 2031, and the cash payment at maturity depends only on the lesser performing stock; holders receive the face amount if any final stock price is ≤ its initial price. The estimated value at pricing was approximately $981 per $1,000 face amount; original issue price was 100% of face amount with an underwriting discount of 1.125%.

GS Finance Corp. offers $ Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a quarterly contingent coupon of $0.25125 per $10 face amount (up to 10.05% per annum) only if both the Dow Jones Industrial Average and the Nasdaq-100 close at or above their coupon barriers on each observation date. The notes are automatically called beginning May 19, 2026 if both indices equal or exceed their initial index levels (Dow: 49,395.16; Nasdaq-100: 24,797.34).

If not called, principal repayment at maturity (February 23, 2029) is contingent: investors receive full face amount only if each index is at or above a 60.00% downside threshold of its initial level; otherwise the cash settlement equals $10 multiplied by the lesser performing index return, and investors could lose most or all principal. The estimated value at pricing is between $9.75 and $9.99 per $10 face amount; original issue price is 100.00% of face amount. Minimum purchase is $1,000. All payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers a structured, non‑interest bearing note maturing in February 27, 2031 that references an equally weighted basket of Adobe, Intuit and Palantir. The notes are automatically callable on the call observation date (expected February 23, 2027) if the basket closing level is greater than or equal to the initial basket level, producing a fixed cash payment of $1,200 per $1,000 face amount on the call payment date (expected February 26, 2027).

If not called, the maturity payment per $1,000 depends on the basket return: for non‑negative returns you receive $1,000 plus $1,000×132.5%×(basket return); if the final basket level is negative but ≥ −50% you receive $1,000; if the final basket level is −50% you receive $1,000 plus $1,000×(basket return). The estimated value at trade date is between $885 and $925 per $1,000 face amount; issue price is 100% of face amount. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc.; payments depend on issuer/guarantor creditworthiness.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon equity-linked notes linked to the Class A common stock of Robinhood Markets, Inc. The notes have a $1,000 face amount per unit and trade on March 2, 2026

The notes pay a contingent monthly coupon based on a $17.50 schedule per coupon observation period, with a coupon trigger at 60% of the initial underlier level and a trigger buffer at 50%. They are automatically called on quarterly call dates if the underlier closes at or above the initial underlier level. The original issue date is March 5, 2026 and the stated maturity is March 9, 2029 with a determination date of March 2, 2029.

At maturity, cash settlement per $1,000 is either $1,000 if the final underlier level is at or above the trigger buffer level or declines proportionally to the underlier return if below the trigger buffer; investors could lose their entire investment. The cash settlement is capped at 100% of face amount even if the underlier rises substantially. Key risks include credit exposure to the issuer/guarantor, limited trading history of the underlier, model/valuation discounts embedded at issuance, uncertain U.S. federal tax treatment, and limited secondary market liquidity.

GS Finance Corp. is offering leveraged buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500 Index with an initial underlier level of 6,861.89 (set February 19, 2026), trade date February 20, 2026, original issue date February 25, 2026, determination date February 22, 2028, and stated maturity February 25, 2028.

Key economic terms: upside participation rate 150%, maximum settlement amount $1,225 per $1,000 face amount, buffer level 90% (buffer amount 10%), and buffer rate 100%. The notes pay no interest and principal is at risk if the final underlier level falls below the buffer.

GS Finance Corp. offers Digital S&P 500® Index-Linked Notes due, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the cash payment at maturity for each $1,000 face amount depends on the S&P 500® performance from the trade date to the determination date.

If the final underlier level is ≥ the trigger buffer level (90% of the initial underlier level), holders receive the maximum settlement amount (expected to be between $1,623.40 and $1,731.30 per $1,000). If the final underlier level is below the trigger buffer level, the cash settlement equals $1,000 + ($1,000 × underlier return), and holders can lose up to 100% of principal.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2032, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount. The notes reference the Dow Jones Industrial Average, Russell 2000 and S&P 500 and pay a contingent quarterly coupon of 2.25% ($22.50 per $1,000) when each underlier is at or above 70% of its initial level, implying up to 9.00% per annum. Trade date is March 6, 2026, original issue date is March 13, 2026 and stated maturity is March 11, 2032 with determination date March 8, 2032. Notes will be automatically called if, on any call observation date, all underliers close at or above their initial levels; if not called, the cash settlement at maturity depends solely on the lesser performing underlier and can result in a total loss of principal. Investors bear issuer and guarantor credit risk and should review pricing, market-liquidity and tax sections carefully.

GS Finance Corp. is offering digital S&P 500® index-linked notes guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount. If the final index level is ≥ the trigger buffer (90% of the initial level) the holder receives a maximum settlement amount (expected between $1,631.60 and $1,741). If the final level is below the trigger buffer, holders lose 1% of face for each 1% decline below the initial level and could lose their entire investment. The notes do not pay interest and have a determination date expected between 88 and 91 months after the trade date; the stated maturity is the second scheduled business day after that date.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured medium-term notes linked to the S&P 500® Futures Excess Return Index. The notes have an aggregate face amount of $2,000,000, a trade date of February 18, 2026, an original issue date of February 23, 2026, a stated maturity date of February 23, 2029 and are cash-settled.

Key economic terms: upside participation rate 159%, buffer level 85% (buffer amount 15%), and a buffer rate of approximately 117.65%. If the final underlier level exceeds the initial level, payment equals face amount plus participation on gains. If final level is between the buffer level and initial level, you receive the face amount. If final level is below the buffer level, losses apply and you could lose your full investment. The notes pay no interest and the original issue price equals 100% of face amount (underwriting discount 0.6%, net proceeds 99.4%).

GS Finance Corp. offers Trigger Autocallable GEARS due, guaranteed by The Goldman Sachs Group, Inc. The securities reference the common stock of Oracle Corporation (ORCL UN) and feature an automatic call observation expected on March 3, 2027, a call payment date expected March 8, 2027, and a determination date expected February 26, 2029 with a stated maturity expected March 1, 2029.

Key economics set on the trade date (February 24, 2026) include upside gearing 1.50, a downside threshold 75.00% of the initial price, an autocall barrier at 100.00% of the initial price, and a call return expected between 40.00% and 42.70%. The original issue price is 100% of face amount ($10 face amount unit), estimated model value is $9.45–$9.75 per $10 face, and underwriting discount is 2.50%.

GS Finance Corp. offers non‑interest notes linked to an equally weighted basket of Adobe Inc., Intuit Inc. and Palantir Technologies. The notes mature on February 24, 2031 with an automatic call if the basket closes at or above the initial level on the call observation date (expected February 19, 2027), in which case holders receive $1,200 per $1,000 face amount.

If not called, maturity payout depends on the basket return: positive/zero return pays principal plus 132.5% participation on gains; a negative return above the trigger buffer (50% of initial level) returns principal; a decline below the trigger buffer results in proportional losses 50%). The estimated value at terms is $885–$925 per $1,000 face amount.

GS Finance Corp. is offering autocal lable contingent-coupon equity-linked notes due March 1, 2029 linked to the Class A common stock of Palantir Technologies Inc. (ticker PLTR UW). The notes pay a contingent quarterly coupon of 4.7625% of face ($47.625 per $1,000) when the underlier is at or above a coupon trigger level equal to 50% of the initial level; coupons otherwise are $0. The notes are automatically called on a call payment date if the underlier is at or above the initial level. At maturity the cash settlement per $1,000 is $1,000 if the final underlier level is at or above the trigger buffer level (50%) and otherwise equals $1,000 multiplied by the underlier return, exposing holders to potential loss of principal, including the full investment.

Key trade dates: trade date February 26, 2026, original issue date March 3, 2026, determination date February 26, 2029.

GS Finance Corp. is offering structured, cash‑settled notes linked to the S&P 500® Futures Excess Return Index with an aggregate face amount of $1,390,000. The notes have an upside participation rate of 123%, a buffer level of 80% (20% buffer) and a stated maturity of August 23, 2028. If the final underlier level is above the initial level the payoff equals the face amount plus 123% of the underlier return; if the final level is between 80% and 100% of the initial level the investor receives the face amount; if below 80% the investor suffers proportional losses, potentially a substantial portion of principal. The notes pay no interest, are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and carry a 1% underwriting discount (net proceeds 99% of face amount). Trade date is February 18, 2026 and determination date is August 18, 2028.

GS Finance Corp. offers structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, with expected trade date February 25, 2026, original issue date March 2, 2026 and stated maturity expected to be February 28, 2031. Each note has a $1,000 face amount and monthly observation dates beginning March 2026. Monthly coupons of $11.792 per $1,000 may be paid when the index closing level on an observation date is >= 50% of the initial underlier level; automatic calls may occur on call observation dates if the index is >= the initial level. The index applies up to 500% leverage, caps daily leverage change at 100% and applies a 6.0% per annum daily decrement. The estimated value at pricing is between $885 and $925 per $1,000 face amount.

GS Finance Corp. is offering auto-callable, equity-linked medium-term notes (guaranteed by The Goldman Sachs Group, Inc.) linked to the Class A common stock of Robinhood Markets, Inc., with a face amount of $1,000 per security and a stated maturity of March 1, 2029. The securities pay a contingent monthly coupon (at least $16.25 per $1,000, equivalent to 19.50% per annum if and only if the underlying stock closes at or above a coupon threshold) and are automatically callable on monthly observation dates from May 2026 through January 2029 if the stock closing price meets or exceeds the starting price.

The coupon threshold price and the downside threshold price are each set at 50% of the starting price. If not called, the maturity payment equals $1,000 if the ending price is at or above the downside threshold, or $1,000 × performance factor if below, exposing holders to >50% principal loss (possibly total loss). Estimated value at pricing is between $890 and $920 per $1,000 face amount; original offering price is $1,000 with underwriting discount up to $23.25 (proceeds to issuer $976.75 per security). All payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering leveraged buffered notes linked to the S&P 500® Futures Excess Return Index, guaranteed by The Goldman Sachs Group, Inc. The notes have an upside participation rate of 134.5%, a buffer level of 80% (buffer amount 20%, trade date February 25, 2026, original issue date March 2, 2026, determination date February 26, 2029, and stated maturity date March 1, 2029.

Payment at maturity is cash per $1,000 face amount: if the final underlier level > initial, payment = $1,000 + ($1,000 × upside participation × underlier return); if final ≥ buffer level, payment = $1,000; if final < buffer level, payment declines pro rata based on the buffer rate and underlier loss. The notes pay no interest and are subject to issuer/guarantor credit risk, futures roll/contango effects, market-disruption adjustments, and tax uncertainty.

GS Finance Corp. is offering an aggregate face amount of $1,147,000 of medium-term notes, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

The cash payment at maturity (stated maturity February 21, 2031) is tied to the performance of the lesser performing underlier: the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF. Key terms include an upside participation rate of 221.75%, a trigger buffer level at 65% of each initial underlier level, trade date February 18, 2026 and original issue date February 23, 2026. If the lesser performing underlier finishes below its trigger buffer, investors lose principal pro rata; if both underliers finish above initial levels, payoff equals principal plus participation times the lesser performing underlier return.

GS Finance Corp. is offering autocallable notes linked to the S&P 500® Futures Excess Return Index with an initial trade date of February 26, 2026 and an original issue date of March 3, 2026. The notes pay no interest and are guaranteed by The Goldman Sachs Group, Inc.

If the closing level of the underlier on the call observation date (March 2, 2027) is greater than or equal to the initial level, each $1,000 face amount will be automatically called and paid $1,120 on the call payment date (March 5, 2027). If not called, the payment at maturity (March 1, 2029) depends on the final underlier level relative to the initial level, with an upside participation rate of 170%, a buffer level of 85% and a buffer rate of 100%. The underlier tracks E-mini S&P 500 futures, not the S&P 500 index, and investors bear issuer/guarantor credit risk and possible substantial losses.

GS Finance Corp. offers autocallable, non‑interest bearing notes due Feb 25, 2031 linked to the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the iShares Russell 2000 ETF (IWM). The notes are expected to be automatically called on the call observation date if both underliers equal or exceed their initial levels, producing a capped cash payment of $1,240 per $1,000 face amount on the call payment date. If not called, the maturity payout depends on the lesser performing underlier: investors receive $1,000 if each final level is at least 50% of its initial level, or a pro rata cash amount tied to the lesser underlier return (with a 200% upside participation rate if both underliers finish higher).

The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., carry issuer and guarantor credit risk, and have an estimated initial model value between $885 and $925 per $1,000 face amount. Timing, initial levels, pricing, issue price and final determination dates will be set on the trade date.

GS Finance Corp. is offering $3,886,000 aggregate face amount of Medium‑Term Notes, Series F, linked to the EURO STOXX 50® Index, with a stated maturity of February 24, 2028.

The securities provide 150% upside participation capped at a 24.35% maximum return ($1,243.50 maximum maturity payment per $1,000 face amount), a 15% buffered downside (losses beyond the buffer are 1:1, with up to 85% loss of face amount), no periodic interest, and payments subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc. The pricing date is February 18, 2026, with an original offering price of $1,000 and an estimated value at pricing of $967 per $1,000 face amount.

GS Finance Corp. is offering structured notes tied to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (Bloomberg: SPAR4V6). The notes feature a monthly coupon payable only if the index closes at or above 70% of the initial underlier level on an observation date, an automatic call opportunity beginning in August 2026, and expected maturity on March 4, 2031. The index applies leverage (up to 500%), a cap on daily leverage change (100%), and a daily 6.0% per annum decrement. The estimated value at pricing is between $885 and $925 per $1,000 face amount. Payments at maturity depend on the underlier return; a final underlier level below the trigger buffer (50% of initial) can materially reduce or eliminate principal.

GS Finance Corp. is offering medium-term, non-interest-bearing notes linked to the MSCI Emerging Markets Index. The aggregate face amount is $1,170,000 and each note has a $1,000 face amount. The upside participation rate is 102% and the trigger buffer is 80% (a 20% buffer).

Payment at maturity depends on the underlier from the trade date to the determination date: if the final level is at or above the initial level, holders receive $1,000 plus $1,000×102%×underlier return; if the final level is below the initial but ≥ the trigger buffer level, holders receive $1,000 plus the absolute underlier return; if the final level is below the trigger buffer level, holders suffer losses equal to the underlier return against the face amount and could lose their entire investment. Trade date: February 18, 2026; original issue date: February 23, 2026; determination date: February 20, 2029; stated maturity date: February 23, 2029. The notes are guaranteed by The Goldman Sachs Group, Inc. and carry issuer and guarantor credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500®‑linked medium‑term notes with an aggregate face amount of $37,197,000. The notes pay no interest, may be automatically called on specified observation dates, and mature on February 23, 2029 (determination date February 20, 2029), subject to adjustment.

Key economic terms: automatic call premiums of 10.03% (first call) and 20.06% (second call); a stated maturity premium of 30.09%; original issue price 100% with underwriting discount 2% and net proceeds 98% of face amount. If not called, final payoff depends on S&P 500 performance and can result in a total loss of principal; notes are cash‑settled and capped on upside.

GS Finance Corp. is offering structured notes maturing on March 12, 2029 whose payoffs are linked to the Russell 2000 Index, the State Street Utilities Select Sector SPDR ETF (XLU) and the iShares U.S. Real Estate ETF (IYR). Coupons of $6.167 per $1,000 (0.6167% monthly, ~7.4% annualized) are payable on a coupon payment date only if the closing level of each underlier on the related coupon observation date is greater than or equal to 60% of its initial level. At maturity, if no redemption occurs, the cash settlement for each $1,000 face amount equals $1,000 if the final level of each underlier is ≥60% of its initial level; otherwise the holder receives $1,000 plus the lesser performing underlier return times $1,000 (exposing holders to losses if the lesser performing underlier declines more than 40%). The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and carry issuer credit risk. The estimated value at pricing is stated to be between $925 and $965 per $1,000 face amount. The company may redeem the notes at its option on coupon payment dates commencing in September 2026 through February 2029 at 100% of face amount plus any coupon then due.

GS Finance Corp. is offering leveraged buffered notes linked to the S&P 500® Futures Excess Return Index, guaranteed by The Goldman Sachs Group, Inc. The notes, with a trade date of February 26, 2026 and an original issue date of March 3, 2026, mature on March 1, 2029. For each $1,000 face amount, if the final underlier level exceeds the initial level, you receive $1,000 plus 145% of the underlier return. If the final level is between 85% and 100% of the initial level, you receive the $1,000 face amount. If the final level is below 85%, losses apply proportionally and you may lose a substantial portion of your investment. The notes pay no interest and are cash‑settled; they track E‑mini S&P 500 futures (not the spot S&P 500 index), so roll yields, futures financing costs and issuer credit risk affect returns.

GS Finance Corp. is offering structured, principal‑linked notes with an aggregate face amount of $10,776,000, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the MSCI EAFE and EURO STOXX 50 indices, have an upside participation rate of 154%, and a buffer level of 80%. The trade date is February 18, 2026, original issue date February 23, 2026, determination date February 18, 2028, and stated maturity date February 24, 2028.

These notes pay no interest and the cash settlement at maturity is driven solely by the lesser performing underlier. If the lesser performing underlier falls below its buffer level (80%), holders incur losses proportional to that shortfall; hypothetical examples show potential principal loss up to 60% or more. The issuer and calculation agent are disclosed, and the offering includes a structuring fee up to 0.6%.

GS Finance Corp. offers non-interest linked notes with The Goldman Sachs Group, Inc. as guarantor. The notes mature February 25, 2030 and are expected to be issued on February 25, 2026. They are automatically callable beginning on March 1, 2027 if the closing price of each index stock (Apple, Palantir, AppLovin) is at least 75% of its initial price on a call observation date. At maturity the cash payout depends on trigger conditions tied to the final closing prices on the determination date; payouts are capped at 197.0032% per $1,000 face amount and can result in losses up to the full principal if the lesser performing index stock falls below its trigger buffer (50% of initial). The estimated value at pricing is between $905 and $945 per $1,000 face amount. Risks include issuer and guarantor credit exposure, limited anti-dilution protection, potential illiquidity, price caps, and material dependence on the performance of the lesser performing index stock.

GS Finance Corp. is offering market-linked, auto-callable securities tied to Roku, Inc. due February 23, 2029. The securities are sold at an original offering price of $1,000 per security (aggregate shown $1,235,000) with an underwriting discount of 2.325% ($23.25 per $1,000) and an estimated value at pricing of approximately $963 per $1,000.

The notes pay a contingent quarterly coupon of $51.25 ($1,000 face; 20.50% per annum) only if the underlying stock closing price meets the coupon threshold (60% of the starting price). The starting price is $90.21, the coupon and downside thresholds equal 60% of the starting price, and the securities are automatically callable if the stock closes at or above the starting price on any call date from August 2026 through November 2028. If not called, principal is at risk at maturity and may be reduced pro rata if the ending price is below the downside threshold. All payments are subject to the issuer’s and guarantor’s credit risk.

GS Finance Corp. is offering Trigger Autocallable GEARS linked to the common stock of Micron Technology, Inc., guaranteed by The Goldman Sachs Group, Inc. Key economic terms: $10 face amount per security, 1.50 upside gearing, 75.00% downside threshold, autocall barrier at 100.00%, and a call return expected between 52.50% and 55.00%. Trade date is expected February 24, 2026 with original issue date expected February 27, 2026; call observation is expected March 3, 2027 and determination February 26, 2029 with stated maturity around March 1, 2029. The estimated model value on the trade date is between $9.50 and $9.80 per $10 face amount; original issue price is 100.00% of face amount and underwriting discount is 2.50%. These securities do not pay coupons, are unsecured, may be automatically redeemed, expose holders to full downside market risk at maturity if the final stock price is below the downside threshold, and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering medium-term notes linked to the common stock of NVIDIA Corporation with an aggregate face amount of $1,070,000, issued under a guarantee by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon and are subject to an automatic call feature.

Key terms: initial underlier level $187.98, coupon and trigger buffer level equal to 60% of the initial level, stated maturity February 23, 2029, determination date February 20, 2029. At maturity you receive either the face amount or an amount equal to $1,000 × the underlier return if the final underlier level is below the trigger buffer level; you could lose your entire investment.

GS Finance Corp. is offering contingent monthly coupon, automatically callable notes linked to the common stock of Oracle Corporation (ORCL). The pricing supplement sets an aggregate face amount of $955,000, an original issue price of 100%, an underwriting discount of 2.75% and net proceeds of 97.25%. The notes trade on February 18, 2026, have an original issue date of February 23, 2026 and a stated maturity date of February 23, 2029, and are guaranteed by The Goldman Sachs Group, Inc.

Each $1,000 face amount may pay a contingent monthly coupon (approximately $16.667 accrual per coupon observation period when the underlier is at or above the 70% coupon trigger) and will be automatically called and redeemed at $1,000 if the underlier closing level is at or above the initial underlier level ($156.17) on any call observation date. If not called, maturity cash settlement depends on the final underlier level versus a 70% trigger buffer; a final underlier below that buffer can result in partial or total loss of principal.

GS Finance Corp. prices $5,000,000 of Contingent Income Auto-Callable Securities linked to Amazon.com, Inc. The notes, issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., have an $1,000 principal per security, a pricing date of February 18, 2026, an original issue date of February 23, 2026, and a stated maturity date of August 23, 2028.

Each security may pay a contingent quarterly coupon of $37.625 if the underlying closing price meets or exceeds a downside threshold of $153.5925 (which is 75.00% of the initial share price of $204.79). Securities are auto-called if the underlying closing price on any call observation date is at or above the initial share price, in which case holders receive principal plus the coupon then due; otherwise payment at maturity depends on the final share price and may result in significant loss of principal.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes paying 4.30% per annum, expected to be issued on February 25, 2026 and maturing on February 16, 2029 Interest is payable monthly (expected the 25th) beginning March 25, 2026. The issuer may redeem the notes in whole, but not in part, on monthly redemption dates on or after May 25, 2026 upon at least five business days' notice at a redemption price equal to 100% of principal plus accrued interest to but excluding the redemption date.

The notes will be issued in book-entry form through DTC. Goldman Sachs & Co. LLC is the initial purchaser/underwriter and may engage in market-making resales; pricing mechanics note that the initial price to public may vary for certain investors. U.S. federal tax treatment and FATCA withholding are summarized in the pricing supplement.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, non‑interest bearing notes linked to the lesser performing of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF. The notes have an aggregate face amount of $868,000, an original issue price of 100%, and an underwriting discount of 4.1% yielding net proceeds of 95.9% of face amount. The notes feature an automatic call test on the call observation date (February 18, 2027) that, if met, pays $1,169 per $1,000 face amount on the call payment date (February 23, 2027). If not called, the maturity payoff on the stated maturity date (February 21, 2031) depends on the lesser performing underlier: 100% upside participation above the initial levels, a principal return if final levels are at or above 70% of initial levels, and full loss if the lesser performing underlier falls to a low level. The notes do not pay interest and are subject to issuer and guarantor credit risk and market, currency, and tax risks described herein.

GS Finance Corp. is offering Buffered Dow Jones Industrial Average®-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes have a 15% buffer (buffer level 85%), a capped payout (maximum settlement amount of $1,250 per $1,000 face amount) and do not pay interest. The trade date is February 24, 2026, original issue date February 27, 2026, determination date February 26, 2029 and stated maturity date March 1, 2029. Payoff scenarios are: full principal returned if final underlier level is ≥ buffer level; positive participation up to the cap if the underlier rises; and pro rata losses below the buffer (lose 1% of face amount for each 1% decline beyond the buffer). The notes are part of the Medium-Term Notes, Series F program and are subject to issuer and guarantor credit risk, secondary market illiquidity, model-based pricing differentials and uncertain U.S. federal tax treatment.

GS Finance Corp. offers Digital S&P 500® Index-Linked Notes due, guaranteed by The Goldman Sachs Group, Inc. Each note has $1,000 face amount and pays no interest. If the final S&P 500 level is at or above 90% of the initial level, holders receive a capped maximum settlement (expected between $1,615.40 and $1,722 per $1,000). If the final level is below 90%, the cash payment equals $1,000 plus $1,000 times the underlier return, exposing holders to downside loss up to a total loss of principal. Terms (trade date, determination date, and exact pricing) will be set on the trade date and are subject to the prospectus and supplements.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc., linked to the Class A common stock of Coinbase Global, Inc. The terms reference an initial underlier level of $165.94 (closing price on February 19, 2026), a 50% coupon trigger and a 50% trigger buffer. Coupons are contingent and paid quarterly only if the underlier meets the coupon trigger on observation dates; the notes are automatically called if the underlier closes at or above the initial level on any call observation date. If not called, maturity is February 23, 2029, with cash settlement per $1,000 face amount that ranges from 0% to 100% of face based on final underlier performance. The offering materials emphasize the risk of total loss of principal and the credit risk of the issuer and guarantor.

GS Finance Corp. offers callable 10-year CMT rate-linked range accrual notes due March 6, 2032, guaranteed by The Goldman Sachs Group, Inc. Interest, if any, is paid monthly on the 6th and is determined by the fraction of reference dates in an interest period when the 10-year CMT rate is ≤ 4.70% multiplied by an interest factor of 7.30%. The issuer may redeem notes at 100% of face amount on any monthly interest payment date on or after March 6, 2027, with at least five business days’ notice. Interest determination uses scheduled U.S. government securities business days, 30/360 (ISDA) day count, and calculation-agent discretion for reference rates and successors. The estimated value at pricing is shown between $912.50 and $962.50 per $1,000 face amount. Credit risk of GS Finance Corp. and the guarantor applies; secondary-market liquidity and tax treatment are discussed.

GS Finance Corp. is offering Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the least performing of the State Street SPY and KRE ETFs and have a contingent coupon set on the trade date.

Key terms: trade date February 20, 2026, original issue date February 25, 2026, determination date February 20, 2029, stated maturity February 23, 2029. Contingent coupon of at least $0.25 per $10 face amount (up to 10.00% per annum) may be paid only if both ETFs close at or above their 65% coupon barrier on an observation date. Beginning August 2026 the notes may be automatically called if both ETFs close at or above their initial ETF prices; called notes pay face amount plus the contingent coupon then due.

Principal repayment at maturity is contingent: if the final price of any ETF is below its 65% downside threshold, holders suffer a loss equal to the percentage decline of the lesser performing ETF and could lose their entire investment. All payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

The Goldman Sachs Group, Inc. is offering $8,649,000 of Callable Fixed Rate Notes due August 20, 2029. The notes pay interest at 4.375% per annum from the original issue date (February 20, 2026) with semiannual payments each February 20 and August 20.

The notes are callable in whole (not in part) on each redemption date beginning August 20, 2026, with at least five business days’ notice and a redemption price equal to 100% of principal plus accrued interest. The initial price to public is 100%, underwriting discount is 0.35%, and estimated proceeds before expenses to the issuer are $8,618,728.50. Settlement is on February 20, 2026.

The Goldman Sachs Group, Inc. is offering $17,000,000 aggregate principal amount of floating rate notes due February 20, 2036. The notes pay interest quarterly at compounded SOFR plus a spread of 1.080%, subject to a minimum interest rate of 0.50%, with interest payments beginning May 20, 2026.

The notes: original issue price 100%, underwriting discount 1.371%, net proceeds to issuer 98.629%; trade date February 18, 2026, original issue (settlement) date February 20, 2026. They are unsecured obligations, not FDIC insured, not listed, have no redemption right, and use Goldman Sachs & Co. LLC as calculation agent with discretionary rate determinations.

GS Finance Corp. offers a trigger autocallable GEARS linked to the common stock of Apple Inc.

The securities have a trade date of February 26, 2026 and an expected original issue date of February 27, 2026. The call observation date is expected to be March 4, 2027 with a call payment date of March 8, 2027, and the determination date and stated maturity date are expected to be February 26, 2029 and February 28, 2029, respectively.

Key economics shown on the cover: an autocall barrier of 100.00% of the initial index stock price, upside gearing expected between 1.30 and 1.50, a downside threshold of 75.00, and a call return of 14.15. The estimated model value at issuance is between $9.40 and $9.70 per $10 face amount; original issue price is 100.00% of face with a 2.50% underwriting discount.

The Goldman Sachs Group, Inc. is issuing $12,000,000 of fixed rate senior notes maturing February 20, 2031. The notes pay 4.30% per annum interest, payable February 20 and August 20 each year beginning August 20, 2026. The original issue price is 100% and net proceeds to the issuer are 99.2417% of the principal amount.

The notes are issued in book-entry form through DTC, will not be listed on any exchange, and may be resold in market-making transactions by Goldman Sachs affiliates. Certain distribution and jurisdictional selling restrictions apply, and FATCA withholding rules are described.

GS Finance Corp. is offering structured, non‑interest‑bearing notes maturing on February 27, 2029 that reference three individual stocks: Palantir, Tesla and AMD. The notes include an automatic call feature beginning on February 17, 2027 and a capped maturity payout.

If the notes are not called, the cash payment at maturity is based on the performance of the lesser performing index stock measured from initial prices set on February 13, 2026 to the determination date February 20, 2029. A final lesser performing stock price at or above 50% of its initial price yields a capped payment of $2,185 per $1,000 face amount; if below 50%, the payout equals $1,000 plus the lesser performing index stock return times $1,000, which can result in substantial loss of principal.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due February 20, 2036 that pay interest at 5.125% per annum from the original issue date February 20, 2026 with annual payments each February 20 beginning February 20, 2027.

The notes are callable in whole (but not in part) on each redemption date (each February 20, May 20, August 20 and November 20 on or after February 20, 2028) at a redemption price of 100% of principal plus accrued interest with at least five business days’ notice. The offering shows an initial price to public of 100% and aggregate principal of $500,000, an underwriting discount of 1.55% ($7,750) and proceeds to the issuer of $492,250. Settlement is scheduled in New York on February 20, 2026. Book-entry registration will be through DTC; FATCA withholding rules apply. Jurisdictional distribution restrictions and FINRA conflict-of-interest procedures are disclosed.

GS Finance Corp. is offering $1,000 face amount autocallable contingent coupon equity-linked notes due March 3, 2031, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stocks of Micron Technology, Inc., NVIDIA Corporation and Palantir Technologies Inc..

The notes pay a contingent monthly coupon of $10.625 per $1,000 (potentially 12.75% annually) only if each underlier's closing level on the coupon observation date is at least 70% of its initial level. The notes will be automatically called early if, on any call observation date, each underlier's closing level is at or above its initial underlier level; in that event holders receive $1,000 plus the coupon then due. The trade date is February 24, 2026 and the original issue date is February 27, 2026.

The pricing supplement states GS&Co.'s estimated value on the trade date is approximately $885 to $935 per $1,000 face amount, which is less than the original issue price, and highlights the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., limited secondary-market liquidity, and the possibility of receiving only face amount at maturity if coupons are unpaid.

GS Finance Corp. is offering $1,000 face amount buffered MSCI EAFE index-linked notes due August 25, 2027, guaranteed by The Goldman Sachs Group, Inc.

Key economics set on the trade date February 20, 2026: initial underlier level 3,127.06, buffer level 85% (buffer amount 15%), buffer rate 100%, maximum settlement amount $1,240. Notes pay no interest; cash at maturity depends on the MSCI EAFE index performance from February 19, 2026 to the determination date August 20, 2027.

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. Each note has a $1,000 face amount and links payoff to the S&P 500 Futures Excess Return Index over the term.

Key terms set on the trade date include an upside participation rate of 118%, a buffer level of 80% (a buffer amount of 20%) and a buffer rate of 125%. If the final underlier level is above the initial level, the maturity payoff = $1,000 + ($1,000 × 118% × underlier return). If final level is ≤ initial but ≥ buffer level, holder receives $1,000. If final level is below the buffer level, losses apply and you could lose your entire investment. The determination date is expected to be approximately 36 months after the trade date.