Goldman Sachs Group (GS) 424B Filings

GS Finance Corp. is offering principal-protected structured notes maturing expected March 6, 2031 linked to ADS of Taiwan Semiconductor Manufacturing Company Limited (5-for-1 ADS) and the common stocks of NVIDIA, Meta Platforms and AMD. Coupons are monthly and conditional: the coupon trigger for each index stock is 80% of its initial price set on the trade date (expected February 27, 2026). If each index stock on a coupon observation date is >= its trigger, the maximum coupon is $7.917 per $1,000; otherwise the minimum coupon is $0.209 per $1,000. Notes are subject to automatic call on observation dates (first call window begins February 2027). The estimated value at pricing is stated between $885 and $935 per $1,000 face amount. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; holders bear issuer and guarantor credit risk.

GS Finance Corp. offers medium-term notes with an aggregate face amount of $540,000, linked to the S&P 500® Index. The notes pay no interest and mature on February 21, 2031 (determination date February 18, 2031), with cash settlement per $1,000 face amount depending on the underlier return and a 20% buffer.

If the final underlier level exceeds the initial level, investors receive $1,000 plus $1,000 times the 104% upside participation rate times the underlier return. If the final level is at or above the 80% buffer level, investors receive the $1,000 face amount. If the final level is below the buffer, losses accelerate at 1.25% of face for each 1% decline beyond the buffer (buffer rate = 125%), and loss of principal is possible.

GS Finance Corp. is offering structured, auto-callable notes linked to four stocks with an aggregate face amount of $1,110,000 and a stated maturity of February 25, 2033. The notes pay a monthly coupon of $6.875 per $1,000 face amount when each index stock closes at or above 70% of its initial price on a coupon observation date; the coupon equates to 0.6875% monthly (up to 8.25% per annum).

The notes are subject to automatic redemption on any call observation date (commencing February 2027) if each index stock closes at or above its initial index stock price (initial prices: SCHW $93.08, WFC $87.40, C $113.78, AMD $203.08, measured on the trade date February 17, 2026). The estimated value at pricing was approximately $938 per $1,000 face amount; original issue price is 100% with an underwriting discount of 4.125% (net proceeds 95.875%).

GS Finance Corp. is offering Trigger Autocallable GEARS linked to the Russell 2000® Index, guaranteed by The Goldman Sachs Group, Inc. The securities have an original issue price of $10 per $10 face amount (100.00% of face), an underwriting discount of 2.50%, and net proceeds to the issuer of 97.50%. GS&Co. estimates the securities' model value on the trade date to be between $9.40 and $9.70 per $10 face amount.

Key expected dates: trade date February 20, 2026, original issue date February 25, 2026, call observation date March 1, 2027, call payment date March 4, 2027, determination date February 20, 2031, stated maturity date February 25, 2031. Terms: autocall at 100.00% autocall barrier with a 12.00% call return; upside gearing expected between 1.40 and 1.50; downside threshold 75.00% of the initial index level. Investors receive no coupons, may lose some or all principal, and payments are subject to issuer and guarantor creditworthiness.

GS Finance Corp. is offering medium-term, cash-settled notes linked to the common stock of GE Vernova Inc. The offering has an aggregate face amount of $1,300,000 and an original issue price equal to 100% of face amount. The notes pay no interest and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes feature an automatic call on the call observation date if the closing level of the underlier is greater than or equal to the initial underlier level; in that case each $1,000 face amount would receive $1,296.50 on the call payment date. If not called, the cash settlement at maturity depends on the final underlier level measured on the determination date and uses an upside participation rate of 150% and a trigger buffer level equal to 60% of the initial underlier level ($819.15). The stated maturity is February 23, 2029 and the determination date is February 20, 2029. The notes may result in a total loss of principal if the final underlier level is below the trigger buffer level; investors are exposed to the credit risk of the issuer and guarantor. Underwriting discount is 2.35% of face amount and net proceeds to the issuer are 97.65% of face amount.

GS Finance Corp. offers non‑interest bearing, principal‑linked notes tied to a weighted basket of Micron (40%), Microsoft (30%) and Meta (30%). The notes mature on March 2, 2029 with an automatic call feature beginning on March 1, 2027 (call premiums specified in the supplement).

Payoff rules: if the final basket level is ≥ initial (100) you would receive $1,661.50 per $1,000; if final is below initial but ≥ 70% you receive $1,000; if final < 70% you receive $1,000×(1 + basket return), which can be less than 70% of face. The estimated value at pricing is $925–$955 per $1,000. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc..

GS Finance Corp. is offering non-interest, index-linked notes linked to a weighted basket of the STOXX® Europe 600 (70%), TOPIX (22.5%) and the S&P/ASX 200 (7.5%).

Trade date is expected February 20, 2026 with stated maturity expected February 25, 2031. The notes pay at maturity based on the basket return with an upside participation rate of 182%, a buffer of 20% (buffer rate 125%), and an estimated initial value between $885 and $925 per $1,000 face amount.

GS Finance Corp. offers structured notes backed by a Goldman Sachs guarantee linked to Microsoft, Amazon, NVIDIA and Alphabet stock performances. The notes have an expected trade date of February 24, 2026, an expected original issue date of February 27, 2026, and an expected stated maturity date of March 5, 2029.

Coupons are monthly in formulaic form (product of $10.5 per $1,000 face amount per qualifying coupon observation date less prior coupons, implying 1.05% monthly or up to 12.6% per annum) and pay only if each index stock meets a coupon trigger price equal to 60% of its initial price. A buffer protects losses down to 80% of initial prices; losses accelerate below that level and full principal loss is possible if any index stock falls below 60% of its initial price. The prospectus discloses an estimated value range of $925 to $965 per $1,000 face amount on the trade date.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due August 27, 2029. The notes bear interest at 4.30% per annum from and including the original issue date (expected February 27, 2026) to but excluding maturity (expected August 27, 2029), with semiannual interest payment dates expected each February 27 and August 27.

The notes are callable by the issuer in whole, not in part, on each redemption date expected on Feb 27, May 27, Aug 27 and Nov 27 on or after August 27, 2026, 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 and are subject to FATCA withholding.

GS Finance Corp. offers capped, Nasdaq-100®‑linked notes guaranteed by The Goldman Sachs Group, Inc. The pricing supplement states an aggregate face amount of $440,000 with each note carrying a $1,000 face amount, an original issue price of 100%, and no periodic interest.

At maturity (stated maturity date February 23, 2029), each note will pay either the face amount or a cash payment equal to $1,000 plus the underlier return, subject to a maximum settlement amount of $1,234. The underlier is the Nasdaq-100 Index and the determination date is February 20, 2029. The notes are part of the Medium‑Term Notes, Series F program and include tax and market‑liquidity risks described in the supplement.

GS Finance Corp. priced a contingent income auto-callable note linked to the common stock of Amazon.com, Inc. The notes (guaranteed by The Goldman Sachs Group, Inc.) are expected to price on or about February 27, 2026, with an original issue date of March 4, 2026 and a stated maturity date of March 2, 2029.

The securities pay a contingent quarterly coupon (set on the pricing date at at least $25.75 per $1,000) only when the underlying closing price on a coupon observation date is at or above a downside threshold equal to 60.00% of the initial share price. The notes are automatically called if the underlying closing price on any call observation date is at or above the initial share price, in which case holders receive $1,000 plus any coupon then due. If not called and the final share price is below the downside threshold, holders suffer loss on a 1:1 basis (payment at maturity = $1,000 × final/initial share price). The pricing supplement shows an estimated value range of $910 to $970 per security and an underwriting discount of 2.25%.

GS Finance Corp. is offering Barrier Market-Linked Notes linked to the SPDR® Gold Trust (GLD), guaranteed by The Goldman Sachs Group, Inc. Trade date is February 25, 2026, original issue date February 27, 2026, determination date February 25, 2028 and stated maturity March 1, 2028.

For each $1,000 face amount, if a barrier event occurs (GLD closing price > upper barrier on any observation day) the maturity payment equals $1,000 plus a 8.00% contingent return. If no barrier event occurs and the final GLD price is above the initial price, payment is $1,000 plus the ETF return, capped between 35.00% and 38.70% (set on the trade date). If no barrier and final price is at or below initial price, payment equals principal ($1,000). Estimated value at terms is between $945 and $975 per $1,000; original issue price is 100.00% with a 2% underwriting discount. All payments are subject to issuer and guarantor credit risk.

GS Finance Corp. offers structured notes linked to a weighted basket of the S&P 500 (40%), Russell 2000 (30%), iShares MSCI EAFE ETF (20%) and iShares MSCI Emerging Markets ETF (10%). The notes have a face amount of $1,000 per note, an expected trade date of February 20, 2026, an original issue date expected February 25, 2026, an expected maturity of February 25, 2031, and an automatic-call observation on March 1, 2027.

If the basket is at or above the initial level (100) on the call observation date the notes are called for $1,100 per $1,000 face. If not called, the final payout at maturity depends on the basket return with an upside participation rate of 161%, a trigger buffer at 65% of the initial basket level, and potential full principal loss if the final basket level falls below the trigger buffer. The dealer-estimated value at pricing is between $885 and $925 per $1,000 face amount.

GS Finance Corp. is offering autocallable S&P 500® Index‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc., with key terms set on the trade date. Each note has a face amount of $1,000, does not bear interest, and can be automatically called on a call observation date between 12 and 14 months after the trade date.

If automatically called, the issuer will pay between $1,094.8 and $1,111.3 per $1,000 on the call payment date. If not called, the cash settlement at maturity depends on the S&P 500® performance: an upside participation rate of 150%, a trigger buffer at 80% of the initial level, and payoff formulas that can produce full principal loss if the final underlier level is below the trigger buffer. The notes are credit‑exposed to GS Finance Corp. and Goldman Sachs, are cash‑settled, and are not bank deposits or FDIC insured.

The Goldman Sachs Group, Inc. is offering callable fixed-rate notes that pay 5.50% per annum from and including the original issue date (expected February 27, 2026) to but excluding the stated maturity date (expected February 16, 2046). Interest is payable annually on each interest payment date (expected February 27 of each year) with the first payment expected on February 27, 2027.

The notes are callable by the issuer in whole, but not in part, on scheduled quarterly redemption dates beginning on or after February 27, 2029 (expected each Feb, May, Aug and Nov 27), at a redemption price equal to 100% of principal plus accrued interest. Settlement is expected in New York on February 27, 2026. The notes are a new issue with no established trading market and will be issued in book-entry form through DTC.

GS Finance Corp. offers structured monthly‑coupon notes linked to Micron Technology, Inc. stock. The notes pay a fixed coupon of $18.417 per $1,000 monthly (approximately 1.8417% monthly or up to 22.1% per annum), have an expected trade date of February 25, 2026, and an expected stated maturity of April 2, 2027.

Notes are subject to an automatic call if Micron’s closing price on any call observation date is greater than or equal to the initial price; if not called, final principal at maturity depends on the index stock return with a trigger buffer at 50% of the initial price. The prospectus cites an estimated value at pricing of $925–$965 per $1,000 face amount and highlights issuer/guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Leveraged Index Return Notes® due February , 2029, guaranteed by The Goldman Sachs Group, Inc. The notes have a $10.00 principal per unit and an estimated value at pricing of $9.25 to $9.55 per unit. They provide a leveraged upside participation rate set on the pricing date (shown as 285.00% to 300.00% range) linked to the Worst-Performing of the S&P 500®, EURO STOXX 50® and Nikkei 225, a principal-protection threshold at 85.00% of the Starting Value, and 1-to-1 downside beyond that threshold (up to 85.00% of principal at risk). The term is approximately three years, all payments occur at maturity, and payments are subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering three‑year Leveraged Index Return Notes® linked to the worst‑performing of the EURO STOXX 50® and the Nikkei 225. Each unit has a $10 principal amount and a public offering price of $10.00. The notes provide a leveraged upside (Participation Rate to be set on the pricing date in the range [245.00% to 255.00%]) if the Worst‑Performing Market Measure rises, return of principal if that measure declines by no more than 15.00%, and 1:1 downside beyond that threshold (up to 85.00% of principal at risk).

The issuer is GS Finance Corp. and payments are guaranteed by The Goldman Sachs Group, Inc.. Estimated value at pricing is between $9.25 and $9.55 per $10 principal amount. All payments are subject to issuer and guarantor credit risk, there are no periodic interest payments, limited secondary market liquidity, and a minimum initial purchase of $100,000.

GS Finance Corp. offers Trigger Autocallable Notes linked to the EURO STOXX 50® Index, due February 25, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no coupons, may be automatically called on quarterly observation dates beginning after 12 months if the index closes at or above the autocall barrier (100% of the initial index level), and otherwise provide contingent repayment at maturity tied to the final index level with a downside threshold of 75.00% of the initial index level. Call returns (set on the trade date) are expressed as a per annum range between 9.00% and 9.75% and increase over time; illustrative call payment amounts per $10 face range from $10.90 to $14.875 depending on call date. Trade date is expected to be February 20, 2026, original issue date February 25, 2026, and determination date February 20, 2031. The original issue price is 100.00% of face amount, underwriting discount 2.50%, net proceeds 97.50%, estimated value on the trade date between $9.30 and $9.60 per $10 face amount, and minimum purchase is $1,000. All payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering autocallable, index-linked notes due February 25, 2033, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the Goldman Sachs Momentum Builder® Focus ER Index and may be automatically called on specified semi-annual observation dates.

The notes pay for each $1,000 face amount either a capped cash payment on an automatic call (call premiums range from 10% to 65%) or, if not called, a cash settlement at maturity that is limited by a 70% maturity premium. GS&Co. estimates the trade-date value at $885 to $925 per $1,000 face amount. Trade date is February 20, 2026 and original issue date is February 25, 2026.

GS Finance Corp. is offering leveraged, callable S&P 500® Futures Excess Return Index‑linked notes due February 18, 2033 with an aggregate face amount of $1,556,000. The trade date is February 13, 2026 and the original issue price is 100% of face amount.

These non‑interest bearing notes pay at maturity per $1,000 face amount either (i) $1,000 plus $1,000×369%×(underlier return) if the final underlier level exceeds the initial level of 553.93, or (ii) $1,000 if the underlier return is zero or negative. The issuer may redeem the notes on monthly call payment dates beginning February 19, 2027 at 100% of face plus a call premium specified in the supplement. The estimated value on the trade date is approximately $952 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc.

GS Finance Corp. priced leveraged, buffered notes linked to the iShares Russell 2000 ETF (IWM) with a Participation Rate of 72.5%, a Buffer Amount of 30% and an Initial Underlier Level of $263.04. The notes mature on February 23, 2029 with a Determination Date expected February 20, 2029 and a Trade Date expected February 18, 2026.

If the ETF return is positive, payoff = $1,000 + $1,000 * 0.725 * ETF return; if ETF return is between 0% and -30%, payoff = $1,000; if ETF return is below -30%, payoff = $1,000 + $1,000 * (ETF return + 30%). Notes pay no interest, are unsecured and guaranteed by The Goldman Sachs Group, Inc.. Estimated value at terms set is $925–$955 per $1,000 face amount. Payments depend on ETF performance on the Determination Date and are subject to issuer/guarantor credit risk and potential illiquidity.

The Goldman Sachs Group, Inc. is offering floating rate notes with an aggregate principal amount of $205,000,000. The notes pay interest at compounded SOFR plus a 0.86% spread, subject to a 0.00% minimum, payable quarterly beginning May 18, 2026, and mature on February 16, 2029. The original issue date is February 18, 2026 and the original issue price is 100% of principal; underwriting discount is 0.15% and net proceeds to the issuer are 99.85% of principal.

The notes are unsecured obligations of the issuer, will not be listed, are not redeemable, and are subject to the issuer's credit risk. Goldman Sachs & Co. LLC is calculation agent with discretion to determine compounded SOFR and benchmark-replacement adjustments; such determinations are binding absent manifest error.

The Goldman Sachs Group, Inc. is offering $47,350,000 principal of Callable Fixed Rate Notes due August 18, 2034 that pay interest at 5.00% per annum from the original issue date February 18, 2026.

Interest is payable each February 18 and August 18, with the first payment on August 18, 2026. The issuer may redeem the notes in whole (not in part) on each redemption date on or after February 18, 2028, at a redemption price equal to 100% of principal plus accrued interest. The initial public price is 100% (aggregate $47,350,000) with an underwriting discount of 1.15% ($544,525); proceeds to Goldman Sachs before expenses are $46,805,475. Settlement is scheduled in New York on February 18, 2026.

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 expected original issue date of February 20, 2026 to but excluding maturity. Interest is payable annually on each expected February 20, with the first payment expected on February 20, 2027.

The notes are redeemable at the issuers option in whole (not in part) on each expected redemption date on or after February 20, 2028 (expected quarterly on Feb 20/May 20/Aug 20/Nov 20) at a redemption price equal to 100% of principal plus accrued interest, with at least five business days notice. The notes will be issued in book-entry form through DTC and expected to deliver against payment in New York on February 20, 2026.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes with a principal amount of $7,000,000 under a pricing supplement dated February 13, 2026. The notes bear interest at 5.00% per annum, accrue from the original issue date of February 18, 2026, and mature on February 18, 2037. Interest is payable annually on the 18th day of February each year beginning February 18, 2027. The original issue price is 100% of principal and net proceeds to the issuer are 98.7643% of principal; underwriting discount is 1.2357%. The notes will be issued in book-entry form through DTC and will not be listed on any exchange.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, autocallable notes linked to four large-cap stocks. The notes reference Tesla, Meta Platforms (Class A), NVIDIA and Alphabet (Class C) and mature on March 3, 2031 unless automatically called on observation dates beginning in February 2027.

Coupons are monthly per $1,000 face amount: the maximum coupon is $7.917 (0.7917% monthly, ~9.5% p.a.) if each index stock closes >= 80% of its initial price on an observation date; otherwise the minimum coupon is $0.209 (0.0209% monthly, ~0.25% p.a.). The estimated value at pricing is $885 to $925 per $1,000 face amount.

GS Finance Corp. is offering Autocallable Contingent Coupon Index‑Linked Notes due February 22, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Dow Jones Industrial Average, the Russell 2000 and the S&P 500. Trade date is February 19, 2026 and original issue date is February 24, 2026.

Each $1,000 note may pay a contingent monthly coupon of $7.25 ( 0.725% monthly; up to 8.7% per annum) only if every underlier is at or above its coupon trigger level (70% of its initial level) on the coupon observation date. Notes are automatically called if every underlier is at or above its initial level on a call observation date. If not called, the cash settlement at maturity depends solely on the lesser performing underlier versus its trigger buffer (60% of initial); investors may lose their entire investment.

GS Finance Corp. offers a capped, equity-linked note tied to a three-bank stock basket. The non-interest-bearing notes mature on April 22, 2027 with a determination date expected on April 19, 2027. Payment is based on an equally weighted basket of Bank of America, JPMorgan Chase and Morgan Stanley, with an initial basket level of 100 set using each stock's closing price on February 13, 2026 ($52.55, $302.55, $171.15, respectively).

If the final basket level is positive, the notes pay 3× the basket return up to a maximum settlement amount of $1,268 per $1,000 face amount. If the basket return is zero or negative, payment equals principal plus the basket return. The prospectus shows an estimated note value at pricing of $925–$955 per $1,000. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc..

GS Finance Corp. is offering autocallable, buffered notes linked to the SPDR® Gold Trust (GLD) with an expected original issue date of February 25, 2026 and a stated maturity of February 25, 2028. The notes carry no periodic interest and include an automatic call feature on the call observation date expected to be March 5, 2027, which, if triggered, pays at least $1,145.10 per $1,000 face amount.

If not called, the maturity payoff is based on the GLD performance from the trade date (expected February 20, 2026) to the determination date (expected February 22, 2028): upside participation of 125% for positive returns; a 10% buffer such that declines up to 10% return principal; and a buffer-rate of approximately 111.11% applied to losses beyond the 10% threshold. The pricing supplement states an estimated value at pricing of between $900 and $930 per $1,000 face amount, and notes are unsecured obligations subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc..

GS Finance Corp. is offering Leveraged Buffered S&P 500® Futures Excess Return Index-Linked Notes due February 23, 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes have an upside participation rate of 159%, a buffer level of 85% (buffer amount 15%) and a buffer rate of approximately 117.65%.

The notes pay no interest and settle in cash at maturity based on the performance of the S&P 500® Futures Excess Return Index from the trade date (February 18, 2026) to the determination date (February 20, 2029), subject to adjustments. If final underlier is above the initial level you receive participation in upside; if it is between the buffer level and initial level you receive the face amount; if below the buffer you may lose a substantial portion or all of your investment.

GS Finance Corp. is offering structured notes backed by a guarantee of The Goldman Sachs Group, Inc. with a stated maturity expected on February 23, 2029. Coupon payments (about $11.834 per $1,000 monthly, 1.1834% monthly) are contingent on each underlier remaining at or above 50% of its initial level on observation dates. If not redeemed earlier, principal at maturity is tied to the performance of the lesser performing underlier (the Russell 2000® Index, the iShares® Expanded Tech-Software Sector ETF, and the iShares® Silver Trust), with a 50% trigger buffer; negative returns below that buffer result in proportionate losses. The issuer may redeem notes monthly beginning in August 2026 at 100% of face amount plus any coupon. The estimated value at pricing is between $925 and $955 per $1,000 face amount.

The Goldman Sachs Group, Inc. is offering unsecured floating rate notes linked to compounded SOFR, maturing on February 20, 2036. Each note has a principal amount of $1,000 and interest starts accruing on February 20, 2026.

Holders will receive a per annum interest rate equal to compounded SOFR plus 1.080%, subject to a minimum interest rate of 0.50%, paid quarterly on February 20, May 20, August 20 and November 20, beginning May 20, 2026. The notes are not redeemable before maturity, will not be listed on any exchange, and their value and payments depend on SOFR levels and Goldman Sachs’ creditworthiness.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due February 20, 2031 as part of its Medium-Term Notes, Series N program. The notes will bear interest at 4.30% per annum, paid in U.S. dollars on February 20 and August 20 each year, starting August 20, 2026.

The notes are issued in $1,000 denominations in book-entry form through DTC, will not be listed on any securities exchange, and allow full and covenant defeasance. Goldman Sachs & Co. LLC will act as underwriter and calculation agent, with potential market‑making and a disclosed FINRA Rule 5121 conflict of interest. U.S. holders generally recognize ordinary interest income and may be subject to FATCA withholding, and distribution is restricted in the EEA, UK, Hong Kong, Singapore, Japan and Switzerland.

The Goldman Sachs Group, Inc. plans to issue fixed rate senior notes due March 1, 2038 as part of its Medium-Term Notes, Series N program. The notes will pay interest at a fixed rate of 5.00% per annum from the original issue date of February 27, 2026 to the stated maturity date.

Interest is payable annually on February 27 of each year, beginning February 27, 2027, with the final payment on the maturity date. Notes will be issued in minimum denominations of $1,000 and integral multiples thereof, in book-entry form through DTC, and will not be listed on any securities exchange.

The notes use a 30/360 (ISDA) day count convention and are not redeemable at the issuer’s option before maturity. They are expected to be issued with original issue discount, so U.S. holders generally must include OID in income as it accrues. The notes are subject to FATCA withholding rules and are offered only to certain non-retail or professional investors in specified jurisdictions under local securities law restrictions.

The Goldman Sachs Group, Inc. is issuing $25,000,000 of fixed rate notes due April 19, 2027. The notes pay interest at 3.78% per annum from February 17, 2026, with both interest and principal paid in a single payment on the maturity date.

The notes are priced at 100% of face value, with a 0.02% underwriting discount, resulting in $24,995,000 in proceeds to Goldman Sachs before expenses. Because interest is not paid at least annually, the notes are expected to be issued with original issue discount for U.S. tax purposes, requiring U.S. holders to accrue income over time. The notes are sold in book-entry form through DTC, may be resold in market-making transactions, and are subject to FATCA withholding and significant selling restrictions in the EEA, UK, Hong Kong, Singapore, Japan and Switzerland. Goldman Sachs & Co. LLC, an affiliate of the issuer, acts as underwriter, creating a conflict of interest under FINRA Rule 5121.

The Goldman Sachs Group, Inc. is offering $13,000,000 of callable fixed-rate notes due February 18, 2031. The notes pay 4.70% per year, with interest paid semiannually on February 17 and August 17, starting August 17, 2026.

Goldman Sachs may redeem the notes, in whole but not in part, at 100% of principal plus accrued interest on each February 17, May 17, August 17 and November 17 on or after February 17, 2028, with at least five business days’ notice. The initial price to the public is 100% of principal, with a 0.2% underwriting discount, resulting in estimated proceeds of about $12,974,000 before expenses. The notes are senior unsecured obligations, issued in global form through DTC, subject to U.S. taxation rules including FATCA, and are restricted from retail distribution in several jurisdictions, including the EEA, UK, Hong Kong, Singapore, Japan and Switzerland.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due February 28, 2033 as part of its Medium-Term Notes, Series N program. The notes will pay interest at 4.55% per annum, from the original issue date to, but excluding, the stated maturity date.

Interest will be paid in U.S. dollars on February 27 and August 27 of each year, beginning August 27, 2026, with the final payment on the maturity date. Interest is calculated on a 30/360 (ISDA) day count basis. The notes are issued in $1,000 denominations, will not be listed on any securities exchange, and will settle and trade in book-entry form through DTC.

Goldman Sachs & Co. LLC will act as underwriter and calculation agent and is an affiliate of the issuer, creating a disclosed conflict of interest under FINRA Rule 5121. The notes are subject to U.S. federal income taxation on interest and may be subject to FATCA withholding. The offering includes detailed selling and marketing restrictions in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland.

The Goldman Sachs Group, Inc. plans to issue fixed rate notes due February 27, 2029 as part of its Medium-Term Notes, Series N program. The notes will pay interest at a fixed rate of 4.00% per annum from the original issue date to maturity.

Interest will be paid in U.S. dollars on February 27 and August 27 of each year, starting August 27, 2026, using a 30/360 (ISDA) day count convention. The notes will be issued in $1,000 denominations, in book-entry form through DTC, will not be listed on any securities exchange, and allow for both full and covenant defeasance. Goldman Sachs & Co. LLC will act as underwriter and calculation agent, and may also make a market in the notes after the initial sale.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due February 27, 2031 as part of its Medium-Term Notes, Series N program. The notes are denominated in U.S. dollars, in minimum denominations of $1,000 and integral multiples of $1,000.

The notes pay interest at a fixed rate of 4.30% per annum, with interest paid semiannually on February 27 and August 27 of each year, beginning August 27, 2026 and ending at maturity. Interest is calculated using a 30/360 (ISDA) day count convention. The notes will not be listed on any securities exchange.

The notes will be issued in book-entry form as a master global note through DTC, under a senior debt indenture with The Bank of New York Mellon as trustee. Goldman Sachs & Co. LLC will act as underwriter and calculation agent and may engage in market-making in the notes after the initial sale.

The offering is subject to various selling restrictions in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland, generally limiting sales to institutional or other qualified investors. Interest on the notes is taxable as ordinary interest income to U.S. holders, and the notes are generally subject to FATCA withholding rules.

Because Goldman Sachs & Co. LLC is an affiliate of the issuer, the transaction constitutes a conflict of interest under FINRA Rule 5121 and will be conducted in compliance with that rule.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the common stock of NVIDIA, Apple and Tesla. The notes are scheduled to mature in February 2029 unless automatically called starting in February 2027.

Investors may receive contingent monthly coupons of $12.542 per $1,000 face amount (1.2542% monthly, up to about 15.05% per year), but only when the closing price of each stock on an observation date is at least 60% of its initial price. Principal is protected only above a 50% “trigger buffer” per stock if a trigger event occurs.

If on any call observation date each stock closes at or above its initial price, the notes are automatically redeemed at par plus the applicable coupon. If held to maturity and all final stock prices are below their initial levels and any is below 50% of its initial price, repayment is reduced in line with the worst-performing stock, and investors can lose most or all of their principal. The estimated value on the trade date is expected to be $925–$955 per $1,000, and all payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500® Index-linked notes that pay no interest and mature in about 23–26 months. The payoff depends entirely on the index level on a single determination date near maturity.

If the index return is greater than or equal to 0% or less than -40%, investors receive a contingent cash payment between $1,026 and $1,030.5 per $1,000 face amount. If the index declines between 5% and 40%, investors earn the absolute decline, up to $1,400 per $1,000. A small decline between 0% and 5% produces a loss matching the index’s drop. The notes are unsecured obligations subject to Goldman Sachs credit risk, have an initial estimated value of $955–$985 per $1,000, and are taxed as contingent payment debt instruments.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged buffered notes linked to the S&P 500® Index maturing in 2028. Each note has a $1,000 face amount, a 200% upside participation rate and a maximum settlement amount of $1,234.50 per $1,000.

At maturity, if the index is above its initial level, returns are multiplied by 200% but capped at the maximum. If the index is down by up to the 10% buffer (buffer level 90% of the initial level), principal is repaid. Below the buffer, losses match the index decline beyond 10%, so a large drop can cause substantial loss of principal.

The notes do not pay interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, and their secondary market value may be below the issue price. The U.S. federal income tax treatment is uncertain and relies on treatment as a prepaid derivative contract.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering trigger callable contingent yield notes linked to the worst performer of the S&P 500® Index, Russell 2000® Index and Nasdaq‑100 Index®. The notes target a $0.30 quarterly contingent coupon per $10 face amount (up to 12% per annum) but only pay if, on every trading day in the prior quarter, each index stays at or above 70% of its initial level.

From May 2026 through February 2029, the issuer may redeem the notes on any coupon date at 100% of face value plus any due coupon, ending all future payments. At maturity, if not called and every index is at or above 60% of its initial level, investors receive full principal plus any final coupon. If any index finishes below 60%, repayment is reduced one‑for‑one with the decline of the worst index, and investors can lose their entire investment.

The notes are unsecured, subject to the credit risk of GS Finance Corp. and its parent, are not listed, may have limited liquidity, and have an estimated value of $9.70–$9.99 per $10, below the $10 issue price, reflecting fees and issuer economics.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering market-linked notes tied to Robinhood Markets’ Class A stock, maturing February 15, 2029. Each security has a $1,000 face amount and was initially offered at $1,000, with total issuance of $1,872,000.

The notes pay a contingent coupon of $52.50 per $1,000 (21.00% per year) only if Robinhood’s stock on each quarterly calculation day is at least 50% of the $77.97 starting price. From May 2026 to November 2028, the notes auto-call at face value plus coupon if the stock is at least 90% of the starting price.

If not called, principal is protected at maturity only if the final price is at least 50% of the starting price. Below that level, holders are fully exposed to downside and can lose more than 50%, up to their entire investment. The estimated value at pricing is about $954 per $1,000, below the offering price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $8,196,000 of index-linked notes due July 11, 2029. The notes pay no interest and repay an amount at maturity based on the lesser performance of the MSCI EAFE Index and the EURO STOXX 50® Index between February 11, 2026 and July 6, 2029.

If both index returns are zero or positive, investors receive $1,000 plus 2.24 times the lesser index gain per $1,000 face amount. If any index falls but both stay at or above 90% of initial levels, investors get back $1,000 plus the absolute value of the lesser loss. If any index closes below 90% of its initial level, repayment falls dollar-for-dollar with the lesser index return beyond a 10% buffer, so a substantial loss of principal is possible.

The original issue price is 100% of face amount, with a 0.7% underwriting discount and 99.3% net proceeds to the issuer. The estimated value at pricing is approximately $984 per $1,000, reflecting structuring costs and dealer compensation.

GS Finance Corp. is offering auto-callable notes linked to the Nasdaq-100 Index® and the iShares® Expanded Tech-Software Sector ETF. The notes pay no interest, can be automatically called starting in February 2027, and otherwise mature in March 2031.

Repayment depends on the lesser-performing underlier. A 10% buffer limits losses only for moderate declines; below that, principal can be substantially reduced. Upside is capped by call premiums and a 46.5% maximum maturity gain. Investors also face issuer and guarantor credit risk, and the initial estimated value is only $885–$925 per $1,000, reflecting fees and hedging costs.

GS Finance Corp. is issuing $270,000,000 of callable 10-year CMT rate-linked range accrual notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. Interest is paid quarterly, with a fixed 7.35% per annum rate on the first payment in May 2026.

From August 2026, each quarter’s interest depends on how many scheduled U.S. government securities business days the 10-year constant maturity Treasury rate is at or below 5.00%, multiplied by a 7.35% interest factor. If the rate is above 5.00% on every reference date in a period, no interest is paid for that quarter.

The notes are callable at 100% of face amount plus accrued interest on any interest payment date starting February 17, 2027, and repay principal at maturity if not redeemed. The estimated value is about $994.4 per $1,000 face amount, and the notes are unsecured, unlisted, and subject to the credit risk of both GS Finance Corp. and its guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $130,000,000 of callable 5-year CMT rate-linked range accrual notes due February 17, 2031. The notes pay quarterly interest, with a fixed 6.11% per annum rate on the first interest payment date in May 2026.

From August 2026 onward, interest for each period equals 6.11% multiplied by the fraction of scheduled U.S. government securities business days when the 5-year constant maturity Treasury (CMT) rate is at or below 5.00%. If the 5-year CMT is above 5.00% on every reference date in a period, no interest is paid for that quarter.

The notes are callable at the issuer’s option at 100% of face amount plus accrued interest on any quarterly interest payment date on or after February 17, 2027. They are unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and subject to their credit risk. The issue price is 100% of face amount with no underwriting discount, and the estimated value is approximately $992.6 per $1,000 at pricing.