Goldman Sachs Group (GS) 424B Filings

The Goldman Sachs Group, Inc. is offering $20,000,000 of callable floating rate notes due February 23, 2031. Each note has a $1,000 denomination, will pay compounded SOFR plus a 1.40% spread (floored at 0.00% and capped at 5.25%), with quarterly interest payments beginning May 23, 2026.

The issuer may redeem the notes in whole on any interest payment date on or after February 23, 2027, upon at least five business days’ notice at 100% of principal plus accrued interest. Interest will be determined by the calculation agent, GS&Co., and compounded SOFR may be replaced under benchmark-transition provisions.

The Goldman Sachs Group, Inc. is offering $17,000,000 of Callable Fixed Rate Notes due February 23, 2046 with an interest rate of 5.80% per annum, payable annually each February 23 beginning February 23, 2027.

The notes are callable at issuer option on scheduled redemption dates beginning on or after February 23, 2028, at a redemption price equal to 100% of principal plus accrued interest. The notes will be issued in $1,000 denominations and settle through DTC on February 23, 2026.

GS Finance Corp. priced a Trigger Autocallable GEARS due, guaranteed by The Goldman Sachs Group, Inc., linked to the Class A common stock of Palantir Technologies Inc. The trade date is February 24, 2026, original issue date February 27, 2026, call observation date March 3, 2027 and stated maturity March 1, 2029. Key economic terms set on the trade date include upside gearing 1.50, an autocall barrier at 100.00% of the initial index stock price, a downside threshold at 75.00% and a call return expected between 37.50% and 39.70%. The securities pay no coupons; holders face full downside market exposure at maturity if the final stock price is below the downside threshold, and all payments are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering leveraged buffered notes linked to the S&P 500® Futures Excess Return Index, with a 133% upside participation, a 20% buffer (buffer level = 80%) and a stated maturity of March 1, 2029. For each $1,000 face amount, payoff at maturity is: (1) $1,000 plus the upside participation times the underlier return if the final level is above the initial level; (2) $1,000 if the final level is between the buffer level and the initial level; or (3) a reduced cash amount if the final level is below the buffer level, producing losses that can be substantial. Trade date is February 26, 2026 and original issue date is March 3, 2026. The notes do not pay interest and are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc..

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The trade date is February 25, 2026, original issue date February 27, 2026 and stated maturity is March 3, 2028.

The notes reference the common stock of Salesforce, Inc., Palantir Technologies Inc. and Rivian Automotive, Inc.. Monthly coupons are contingent and computed using a $22.5 factor per coupon observation schedule, payable only if each underlier is ≥ 50% of its initial level on the related coupon observation date. The notes are automatically called if, on any call observation date, each underlier closes ≥ its initial level; if not called, the maturity cash payment for each $1,000 face amount is either $1,000 (if the lesser performing underlier ≥ its trigger buffer level of 50%) or $1,000 × the lesser performing underlier return, meaning investors could lose their entire investment.

GS Finance Corp. is offering 520,000 units of Autocallable Contingent Coupon (with Memory) Barrier Notes linked to an equally weighted basket of Arista Networks, Cisco Systems and Corning, due February 28, 2028 and guaranteed by The Goldman Sachs Group, Inc.

The public offering price is $10.00 per unit (aggregate $5,200,000), the estimated value at pricing was approximately $9.59 per $10 principal amount, underwriting discount is $0.15 per unit, and proceeds to GSFC before expenses are $9.85 per unit. Minimum initial purchase is $100,000. Coupons of $0.38375 per unit apply per quarterly Coupon Payment Date when the Observation Value meets the 80% Coupon Barrier; automatic calls occur if the Call Value (100% of Starting Value) is met on Call Observation Dates. All payments are subject to issuer and guarantor credit risk and limited secondary market liquidity.

GS Finance Corp. priced structured, non‑interest notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes have a $1,000 face amount per note, trade date February 18, 2026, original issue date February 23, 2026 and stated maturity (final) February 21, 2031.

If a call observation date condition is met beginning in February 2027, the notes will be automatically redeemed for $1,000 plus an applicable call premium (call levels and premiums listed on page PS‑7). If not called, payment at maturity depends on the underlier return measured from initial underlier level 478.23 to the final level on the determination date. A final underlier level ≥ 60% of the initial level pays the maximum settlement of $1,950.04 per $1,000 face amount; declines below that buffer can produce losses up to the full principal. The underlier applies a 6.0% per annum daily decrement, may use up to 500% leverage, and caps daily leverage change at 100%. The issuer’s estimated model value at pricing was approximately $962 per $1,000 face amount; issue price was 100% of face amount with an underwriting discount of 0.9%.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to SLV and GLD with an aggregate original face amount of $1,675,000. The notes have an original issue price of 100%, an underwriting discount of 2% (plus a structuring fee up to 0.8%), and a trade date of February 18, 2026 with original issue date February 23, 2026.

Notes mature on February 22, 2030 unless automatically called on scheduled call observation dates beginning February 18, 2027. Automatic call requires each ETF to close at or above 90% of its initial level and pays the face amount plus a specified call premium (call premiums rise over time). If not called, maturity pay‑out depends on the lesser performing ETF with a maturity premium cap of 56%. The pricing models estimated value at issuance is approximately $966 per $1,000 face amount. Payments depend on the issuer’s and guarantor’s creditworthiness and on specified market disruption and successor‑underlier provisions.

GS Finance Corp. is offering Bearish Absolute Return S&P 500® Index-Linked Notes due February 23, 2028, guaranteed by The Goldman Sachs Group, Inc.. The notes reference the S&P 500® Index with an initial index level of 6,881.31 (trade date February 18, 2026).

Payoff rules: for each $1,000 face amount, investors receive $1,029 if the index return is ≥0% or < -40%; if index return is between -5% and -40% the payoff equals the absolute underlier return; if return is between -5% and 0% payoff equals the index return (negative). The notes carry a contingent return of 2.9%. The original issue price is 100% with an underwriting discount of 1.5% and net proceeds to issuer of 98.5%. Estimated value at pricing was approximately $982 per $1,000 face amount.

GS Finance Corp. priced leveraged buffered notes linked to Invesco QQQ Series 1 ("QQQ") due February 23, 2029. Each $1,000 face amount pays at maturity either (1) $1,000 plus 69.15% of the positive ETF return, (2) $1,000 if the ETF falls up to 30%, or (3) a reduced cash settlement if the ETF declines by more than 30%, which can result in substantial principal loss.

The initial underlier level is $601.30 (set February 17, 2026), the participation rate is 69.15%, the buffer is 30% (buffer level = 70% of initial level), and the estimated value at term-setting was approximately $990 per $1,000 face amount. Payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., market-disruption and calculation-agent discretions, potential tax uncertainties, and limited liquidity.

GS Finance Corp. offers $7,500,000 of Trigger Autocallable GEARS due 2029, guaranteed by The Goldman Sachs Group, Inc. The securities are linked to the common stock of NVIDIA Corporation (initial index stock price $187.98) and may be automatically called if the index stock closes at or above the autocall barrier (100.00% of the initial price) on the call observation date.

Key terms: upside gearing 1.50, downside threshold 80.00% of the initial price, call return 30.30%. Trade date February 18, 2026, original issue date February 23, 2026, call observation date February 25, 2027 (call payment date March 2, 2027), determination date February 20, 2029 and stated maturity date February 23, 2029. The estimated value on the trade date was approximately $9.64 per $10 face amount; original issue price is 100.00% with a 2.50% underwriting discount (net proceeds 97.50%).

GS Finance Corp. is offering structured notes linked to the Russell 2000® Index, the iShares® Expanded Tech-Software Sector ETF and the iShares® Silver Trust maturing on February 23, 2029. Coupons of $11.834 per $1,000 (1.1834% monthly, ~14.2% annually) will be paid on a coupon payment date only if the closing level of each underlier on the related coupon observation date is at least 50% of its initial level.

If not redeemed by the issuer, principal at maturity is tied to the performance of the lesser performing underlier: if that underlier’s final level is at least 50% of its initial level you receive $1,000 plus any final coupon; if it is below 50%, the cash settlement equals $1,000 plus (lesser performing underlier return × $1,000), which can result in substantial principal loss. The notes may be redeemed at issuer option on monthly coupon dates commencing August 2026 through January 2029 at 100% of face plus any coupon then due. The original issue price is 100% of face, underwriting discount 0.7%, net proceeds 99.3%, and the estimated value at pricing was approximately $943 per $1,000 face amount.

GS Finance Corp. offers Jump Securities guaranteed by The Goldman Sachs Group, Inc. This pricing supplement sets terms for principal-at-risk notes linked to a weighted basket of five international equity indices, with an upside payment of $300 (a 30.00% return) if the basket finishes at or above an 130.00% threshold and a 145.00% leverage factor (set on the pricing date) for larger appreciations. The basket initial value is 100 and components include EURO STOXX 50 (40.00%), TOPIX (25.00%), FTSE 100 (17.50%), SMI (10.00%) and S&P/ASX 200 (7.50%). Estimated value per $1,000 principal is in the range $890 to $950. All payments are subject to the issuer and guarantor credit risk and investors may lose some or all principal.

GS Finance Corp. issues GS Finance Corp. buffered S&P 500® index-linked notes due February 23, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash settlement per $1,000 face amount based on the S&P 500 return from an initial level of 6,843.22 on February 17, 2026 to the determination date, with a 20% downside buffer and an 86% participation rate for positive index returns. If the final index level is between the initial level and a 20% decline, holders receive the face amount; if the final level declines by more than 20%, holders bear losses that can be substantial. The original issue price is 100% of face, estimated value at trade date ~$992 per $1,000 face amount, underwriting discount 0.85%, and net proceeds to issuer 99.15%. Purchases are subject to issuer and guarantor credit risk, limited liquidity, tax uncertainty, and other described structural risks.

GS Finance Corp. is offering leveraged buffered notes linked to the iShares® Russell 2000 ETF (IWM) with a stated maturity of February 23, 2029. The aggregate original face amount is $557,000. The initial underlier level is $263.04 (set on February 17, 2026), the participation rate is 72.5%, and the buffer level is 70% (a 30% buffer).

At maturity, for each $1,000 face amount you receive: (1) if the final level > initial level, $1,000 plus $1,000×72.5%×(underlier return); (2) if final level declines up to 30%, $1,000; (3) if final decline exceeds 30%, $1,000 plus $1,000×(underlier return + 30%), which can result in substantial principal loss. The estimated value on the trade date was approximately $987 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; they do not pay interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering floating rate notes due March 4, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay interest equal to compounded SOFR plus a spread of 1.080%, subject to a minimum interest rate of 0.50%, with quarterly payments expected beginning June 4, 2026. Each note has a principal amount of $1,000 (and integral multiples), is not listed on any exchange, is not FDIC insured, and will have Goldman Sachs & Co. LLC as calculation agent. The prospectus notes market and credit risk, possible benchmark replacement for SOFR, limited liquidity, and that additional notes may be sold at different issue prices on the issuer’s sole option.

GS Finance Corp. is offering medium-term notes with an aggregate face amount of $6,850,000 linked to the common stock of Microsoft Corporation. The notes pay a contingent quarterly coupon and are subject to the automatic call feature.

Each $1,000 face amount pays quarterly coupons conditioned on the underlier closing at or above 70% of the initial level and will be automatically called if Microsoft closes at or above the initial underlier level of $399.60 on a call observation date. If not called, maturity is February 23, 2029, with principal returned in cash based on the final underlier level; investors could lose their entire investment if the final level is below the 70% trigger buffer.

GS Finance Corp. offers structured notes maturing February 16, 2029, backed by a guaranty of The Goldman Sachs Group, Inc. The notes pay monthly contingent coupons linked to the common stocks of Micron Technology, Inc., The Allstate Corporation and Cummins Inc. Coupons accrue at $9.167 per $1,000 (0.9167% monthly) when any index stock on a coupon observation date is >= 60% of its initial price. Notes are subject to automatic redemption if, on a call observation date, each index stock is >= its initial price set on February 13, 2026. If not called, maturity payoff depends on a trigger event measured on the determination date February 13, 2029: if every final price is lower than its initial price and any final price is below 50% of initial, the maturity payment is reduced pro rata by the lesser performing stock return. The aggregate face amount initially offered is $2,000,000. Trade date is February 18, 2026, original issue date February 23, 2026, original issue price 100%, underwriting discount 0.7%, net proceeds to issuer 99.3%. The pricing models estimated the notes’ value at approximately $958 per $1,000 face amount on the trade date.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering non‑interest bearing notes linked to the iShares® Silver Trust (SLV). The trade date is expected to be February 27, 2026, with an original issue date of March 4, 2026 and a stated maturity expected on April 1, 2027.

For each $1,000 face amount, if SLV's final level on the determination date is at least 60% of the initial level you receive a capped $1,137.50. If SLV falls more than 40%, your cash payment falls in direct proportion to the ETF return and you could lose your entire investment. The estimated value at pricing is between $925 and $955 per $1,000 face amount; original issue price is 100% with an underwriting discount of 1.1%.

GS Finance Corp. prices and offers Market Linked Securities—Auto-Callable with Contingent Downside Principal at Risk linked to the lowest performing of the S&P 500®, Russell 2000® and EURO STOXX 50®, with an original issue date of February 23, 2026 and stated maturity of February 23, 2029.

The securities have a face amount of $1,000 per security, call dates beginning February 23, 2027 through a final calculation day on February 20, 2029, and tiered fixed call premiums that rise to 44.10% on the final calculation day. If not called, principal is protected only if the lowest performing underlier on the final calculation day is no more than 25.00% below its starting level; otherwise holders have 1-to-1 downside exposure and may lose up to 100.00% of the face amount.

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.