Every 424B that Goldman Sachs Group Inc. (GS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow GS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GS filings page.
The Goldman Sachs Group, Inc. is offering senior unsecured floating rate notes due February 16, 2029. Each note has a principal amount of $1,000 (or multiples thereof) and an original issue price of 100% of principal.
Interest starts accruing on February 18, 2026 and is expected to be paid quarterly on February 18, May 18, August 18 and November 18 of each year and at maturity. The annual rate equals compounded SOFR plus 0.86%, subject to a minimum interest rate of 0.00%, using an Actual/360 day count.
The notes are not bank deposits, are not insured by the FDIC or any government agency, and rank as unsecured obligations of Goldman Sachs, exposing investors to the issuer’s credit risk. The notes are not redeemable before maturity and will not be listed on any securities exchange, so secondary market liquidity may be limited.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering no-interest principal-at-risk notes linked to the lesser performer of Humana Inc. and Molina Healthcare, Inc. stock. Returns at maturity depend on price changes between the 2026 trade date and the 2029 determination date.
If both stocks finish at or above their initial levels, investors receive leveraged upside at a 308.75% participation rate. If any stock finishes below its initial price but at or above 75% of it, principal is repaid. If any finishes below 75% of its initial price, repayment falls in line with the lesser performer and investors can lose up to their entire investment. The notes’ estimated initial value is between $925 and $955 per $1,000 face amount, and 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 issuing principal-at-risk Contingent Income Buffered Auto-Callable Securities linked to Eli Lilly common stock, maturing February 19, 2027. The notes target monthly contingent coupons of at least $13.584 per $1,000 if Eli Lilly’s share price on each observation date stays at or above 80% of the initial share price.
The initial share price is set at $1,038.27, with a buffer price at 80% of that level and a downside factor of 1.25. The securities may be automatically called on scheduled call dates if the stock closes at or above the initial share price, returning principal plus the due coupon.
If the notes are not called and Eli Lilly’s final share price is below the buffer, investors lose 1.25% of principal for every 1% decline beyond the 20% buffer, up to a total loss of principal, and receive no final coupon. Investors do not participate in any stock appreciation, and secondary market values may be below the issue price, which already exceeds the bank’s own estimated value range of $935 to $995 per $1,000.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $760,000 of callable fixed and floating rate notes maturing on February 13, 2036. Investors receive a fixed 10.00% annual interest rate, paid quarterly, from February 13, 2026 to February 13, 2027.
From February 13, 2027, interest becomes floating and depends on the 10‑year Constant Maturity Treasury (CMT). The annual rate equals ten times (5.15% minus the 10‑year CMT), capped at 10.00% and floored at 0.00%, recalculated each quarter. If the 10‑year CMT is 5.15% or higher on an interest determination date, no interest is paid for that period.
The issuer may redeem the notes at par plus accrued interest on any quarterly payment date on or after February 13, 2027, which can shorten the life of the investment. The notes price at 100% of face amount, with a 2.779% underwriting discount and 97.221% net proceeds to the issuer. The estimated value at pricing is about $930.10 per $1,000, reflecting structuring and distribution costs. The notes are unsecured and subject to the credit risk of both GS Finance Corp. and the guarantor, may lack an active secondary market, and their value can be affected by interest rate moves, base rate volatility, and issuer hedging.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon notes linked to the Dow Jones Industrial Average®, Nasdaq-100 Index® and Russell 2000® Index, maturing in 2029. These notes pay a monthly contingent coupon of $10.542 per $1,000 (1.0542% monthly, about 12.65% per year) only if on each observation date all three indices are at or above 70% of their initial levels.
The notes can be automatically called starting in May 2026 if, on a call observation date, each index is at or above its initial level, in which case investors receive $1,000 per note plus the due coupon and the investment ends early. If the notes are not called and, at final valuation in February 2029, the worst-performing index is below 70% of its initial level, principal is reduced in line with that index’s loss, down to a possible 100% loss of invested amount.
Investors have no equity ownership or dividend rights in the underlier stocks, are fully exposed to the credit risk of GS Finance Corp. and the guarantor, and may face limited or no secondary market liquidity. The initial issue price exceeds the model-based estimated value, and the difference is expected to amortize to zero over time.
The Goldman Sachs Group, Inc. is issuing $4,775,000 of senior fixed rate notes under its Medium-Term Notes, Series N program. The notes pay 4.50% per annum, with interest paid every February 13 and August 13, starting August 13, 2026, until the stated maturity on February 14, 2033.
The notes are issued in $1,000 denominations at 100% of principal, with a 1.7% underwriting discount, resulting in net proceeds of 98.3% of principal to Goldman Sachs. They are unsecured obligations, will not be listed on any securities exchange, and are subject to standard U.S. tax rules, including FATCA.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium-term notes linked to the common stock of UnitedHealth Group Incorporated. The notes have an aggregate face amount of $1,840,000 and a face amount of $1,000 per note.
Holders may receive contingent quarterly coupons calculated using $24.125 per observation if the UNH share price on a coupon observation date is at or above 60% of the initial level of $278.91. The notes are automatically called at par, plus any due coupon, if UNH closes at or above the initial level on a call observation date.
If the notes are not called and the final UNH level on the February 12, 2029 determination date is at or above 60% of the initial level, investors receive full principal back. If it is below 60%, repayment is reduced in line with the negative underlier return, and principal can be completely lost. Upside is limited to coupons; gains in UNH above the initial level do not increase principal repayment. The notes carry the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., are unsecured, and confer no shareholder rights in UNH.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable index-linked notes due 2029 tied to the Nasdaq-100 Index® and the Russell 2000® Index. The notes pay no interest and return depends on the weaker index.
The notes are automatically called if, on annual observation dates in 2027 and 2028, both indices are at or above their initial levels, paying call premiums of 7.65% or 15.3% per $1,000 face amount. If held to 2029 and both final index levels are at least their initials, maturity payment is capped by a 22.95% premium; otherwise investors receive only the $1,000 face amount.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, have an estimated value below the issue price, will not be listed on an exchange, and are expected to be treated as contingent payment debt instruments for U.S. tax purposes.
The Goldman Sachs Group, Inc. is offering $12,328,000 principal amount of callable fixed rate notes due February 13, 2030. The notes pay interest at 4.30% per annum from February 13, 2026, with annual payments each February 13 starting in 2027.
Goldman Sachs may redeem the notes, in whole but not in part, at 100% of principal plus accrued interest on each February 13, May 13, August 13 and November 13 beginning February 13, 2028. The initial price to the public is 100% of principal, with a 0.583% underwriting discount and net proceeds of $12,256,127.76 to Goldman Sachs.
The notes are unsecured senior debt under Goldman Sachs’ Medium-Term Notes, Series N program, are not bank deposits, and are not insured by the FDIC or any government agency. Interest is taxable as ordinary income for U.S. holders, and the notes are generally subject to FATCA withholding rules.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable contingent coupon notes linked to the Nasdaq-100 Index® and Russell 2000® Index, maturing in 2031. These are unsecured senior notes under Goldman’s Medium-Term Notes, Series F program.
Investors receive a monthly contingent coupon of $8.459 per $1,000 face amount (0.8459% monthly, up to about 10.15% per year) only if on each observation date both indices are at or above 70% of their initial levels. If either index is below that coupon trigger, the coupon for that month is $0.
At maturity, if not redeemed earlier, investors receive $1,000 per note if each index is at or above its 70% trigger buffer level. If any index finishes below 70% of its initial level, principal is reduced in line with the lesser performing index, and investors can lose up to their entire investment.
The issuer may call the notes at par plus any due coupon on any coupon payment date from February 2027 to January 2031. The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., may trade below issue price, and raise complex tax considerations.
The Goldman Sachs Group, Inc. is offering $31,880,000 of callable fixed rate notes due January 29, 2036. The notes pay 5.00% per annum from the original issue date of February 13, 2026, with interest paid each February 13 and at maturity.
Goldman Sachs may redeem the notes, in whole but not in part, on quarterly redemption dates starting August 13, 2027 at 100% of principal plus accrued interest. The notes are priced at 100% of principal, with a 2.011% underwriting discount and initial proceeds of $31,238,893.20 before expenses.
The Goldman Sachs Group, Inc. is issuing $9,151,000 of callable fixed rate notes due 2041 that pay 5.30% interest per year. Interest starts on February 13, 2026 and is paid each February 13, with final payment on the stated maturity date of January 29, 2041.
Goldman Sachs may redeem the notes, in whole but not in part, at 100% of principal plus accrued interest on each February 13, May 13, August 13 and November 13 on or after August 13, 2028, with at least five business days’ notice. The initial price to the public is 100% of principal, with a 2.614% underwriting discount and proceeds before expenses of $8,911,792.86 to Goldman Sachs.
The Goldman Sachs Group, Inc. is issuing fixed-rate Medium-Term Notes, Series N, maturing on February 13, 2031. The notes pay interest at 4.30% per annum, with semiannual payments on February 13 and August 13 of each year, starting August 13, 2026, on a 30/360 (ISDA) basis.
The total principal amount is $9,200,000, in minimum denominations of $1,000. The original issue price is 100% of principal, with an underwriting discount of 0.838% and net proceeds to Goldman Sachs of 99.162% of principal. The notes are senior unsecured obligations, issued in book-entry form through DTC, will not be listed on any securities exchange, and are subject to standard U.S. federal income tax rules for interest and capital gains. Sales are restricted in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland, and Goldman Sachs & Co. LLC acts as underwriter with a disclosed FINRA Rule 5121 conflict of interest.
The Goldman Sachs Group, Inc. is offering $14,000,000 of callable fixed rate notes due February 13, 2031. The notes pay interest at 4.55% per year, with annual payments each February 13 starting on February 13, 2027.
Goldman Sachs may redeem the notes, in whole but not in part, on each February 13, May 13, August 13 and November 13 on or after February 13, 2027 at 100% of principal plus accrued interest. The initial price to the public is 100% of principal, generating gross proceeds of $14,000,000 and proceeds to Goldman Sachs of $13,887,860 before expenses after a 0.801% underwriting discount.
The notes are issued as book-entry securities through DTC, are not bank deposits, and are not insured by any governmental agency. Goldman Sachs & Co. LLC and InspereX LLC are underwriting the deal and may make a market in the notes, which have no established trading market and are subject to various selling restrictions outside the United States.
GS Finance Corp. is offering auto-callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, maturing in February 2031. The notes pay a contingent monthly coupon of 1.375% (up to 16.5% per year) when the index is at or above 70% of its initial level.
The notes can be automatically called starting in August 2026 if the index is at or above its initial level, returning principal plus the applicable coupon. If held to maturity and the index is below 60% of its initial level, repayment of principal is reduced one-for-one with the index decline, and investors can lose their entire investment.
The underlier uses up to 500% leverage, a 40% volatility target, calendar-based trading signals, and a fixed 6.0% per annum decrement, all of which can magnify losses and cause underperformance versus the S&P 500® Index. The estimated value on the trade date is expected between $885 and $925 per $1,000 face amount, reflecting structuring costs and dealer margins.
The Goldman Sachs Group, Inc. is issuing $13,743,000 of fixed-rate senior notes under its Medium-Term Notes, Series N program. The notes pay a fixed 4.00% per annum in U.S. dollars, with interest paid semiannually on February 13 and August 13, starting August 13, 2026, until the stated maturity on February 13, 2029.
The notes are offered at 100% of principal, with an underwriting discount of 0.554%, resulting in net proceeds of 99.446% to Goldman Sachs. They are issued in $1,000 denominations, will not be listed on any securities exchange, and may be subject to FATCA withholding rules. The notes are unsecured obligations of Goldman Sachs and are not insured or bank deposits.
The Goldman Sachs Group, Inc. is issuing $6,680,000 of callable fixed rate notes due 2033. The notes pay interest at 4.625% per annum from February 13, 2026 until January 29, 2033, with interest paid on February 13 of each year and at maturity, starting February 13, 2027.
Goldman Sachs may redeem the notes, in whole but not in part, on February 13, May 13, August 13 and November 13 of each year on or after August 13, 2027 at 100% of principal plus accrued interest. The notes are offered at 100% of principal, with an underwriting discount of 1.808%, resulting in proceeds of 98.192% to Goldman Sachs before expenses.
The Goldman Sachs Group, Inc. is issuing $11,142,000 of callable fixed rate notes due January 29, 2046, paying 5.50% interest per year from February 13, 2026.
Interest is paid each February 13, starting in 2027. The notes are redeemable at Goldman Sachs’ option at par plus accrued interest on specified quarterly dates from February 13, 2029. They are issued in $1,000 denominations, will not be listed on an exchange, are held in DTC book-entry form, and are not insured by the FDIC or any government agency.
The Goldman Sachs Group, Inc. is offering $2,000,000 of senior fixed-rate notes under its Medium-Term Notes, Series N program. The notes pay a fixed interest rate of 5.10% per annum from the original issue date of February 13, 2026 to the stated maturity date of February 13, 2041.
Interest is paid annually on February 13 of each year, beginning February 13, 2027, using a 30/360 (ISDA) day count convention. The notes are issued in $1,000 denominations, will not be listed on any securities exchange, and will be issued in book-entry form through DTC.
The original issue price is 100% of principal, with an underwriting discount of 1.625% of the principal amount, resulting in net proceeds to the issuer of 98.375% of the principal amount. Goldman Sachs & Co. LLC acts as both underwriter and calculation agent and may conduct market-making transactions after the initial sale.
The Goldman Sachs Group, Inc. is offering $2,000,000 principal amount of fixed-rate Medium-Term Notes, Series N. The notes pay interest at 5.00% per annum from the original issue date of February 13, 2026 to the stated maturity date of February 13, 2041.
Interest is paid annually on February 13, beginning February 13, 2027, using a 30/360 (ISDA) day count convention. The notes are issued in $1,000 denominations, will not be listed on any securities exchange, and will be issued in book-entry form through DTC.
The original issue price is 100% of principal, with an underwriting discount of 2.65%, resulting in net proceeds to Goldman Sachs of 97.35% of the principal amount. The notes rank under the senior debt indenture and are subject to standard U.S. federal income tax treatment, including FATCA withholding rules.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon equity-linked notes due 2029 tied to the common stock of Netflix, Inc. Each note has a $1,000 face amount.
The notes pay a contingent quarterly coupon of $34.50 per $1,000 (3.45% per quarter, up to 13.80% per year) only if Netflix’s closing level on the observation date is at or above 70% of the initial level. Otherwise, the coupon for that quarter is zero. The notes are automatically called if Netflix’s level on a call observation date is at or above the initial level, returning $1,000 per note plus any due coupon.
At maturity, if the notes have not been called, investors receive $1,000 per note only if Netflix’s final level is at or above the 70% trigger buffer. If it is below 70%, repayment is reduced one‑for‑one with Netflix’s decline, and investors can lose their entire investment. Upside in Netflix above the initial level is capped at return of principal plus coupons.
The original issue price is 100% of face amount, with a 2% underwriting discount and 98% net proceeds to the issuer. Key risks include the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., potential lack of secondary market liquidity, market value sensitivity to many factors, and uncertain U.S. tax treatment, including possible withholding for non‑U.S. holders.
The Goldman Sachs Group, Inc. is issuing callable fixed rate notes due January 29, 2031 with a coupon of 4.35% per year. Interest is paid annually on February 13, starting February 13, 2027, until maturity or earlier redemption.
The company may redeem the notes, in whole but not in part, on quarterly redemption dates starting February 13, 2027 at 100% of principal plus accrued interest. The total offering size is $19,681,000, with an underwriting discount of 1.311%, resulting in estimated proceeds of about $19.4 million before expenses. Goldman Sachs & Co. LLC and InspereX LLC are the underwriters, and the notes will clear through DTC in global form.
The Goldman Sachs Group, Inc. is offering $12,000,000 of callable fixed-rate notes due 2036. The notes pay interest at 5.10% per annum from February 13, 2026 to February 13, 2036, with interest paid annually on February 13, starting February 13, 2027.
Goldman Sachs may redeem the notes, in whole but not in part, on February 13, May 13, August 13 and November 13 of each year on or after February 13, 2028 at 100% of principal plus accrued interest. The initial price to the public is 100% of principal, with underwriting discounts of 1.271%, resulting in proceeds of $11,847,480 before expenses.
The Goldman Sachs Group, Inc. is offering $9,500,000 aggregate principal amount of callable fixed rate notes due February 13, 2029. The notes pay a fixed interest rate of 4.125% per year from February 13, 2026, with interest payable annually on February 13, starting February 13, 2027.
Goldman Sachs may redeem the notes, in whole but not in part, on February 13, May 13, August 13 and November 13 of each year on or after February 13, 2027 at 100% of principal plus accrued interest. The notes are priced at 100% of principal, with an underwriting discount of 0.53%, resulting in proceeds before expenses of $9,449,650 to Goldman Sachs.
The notes are unsecured senior debt issued under the Medium-Term Notes, Series N program and will be held through DTC as a global note. Goldman Sachs & Co. LLC and InspereX LLC each underwrite $4,750,000 and may make a market in the notes, although liquidity is not assured. Interest is taxable as ordinary income, and FATCA withholding may apply.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering unsecured notes linked to the common stock of NVIDIA Corporation. The notes pay a fixed coupon of $26.25 per $1,000 in face amount (2.625% quarterly, up to 10.5% per year) until maturity or automatic call.
The notes can be automatically redeemed if NVIDIA’s stock closes at or above the initial price on specified quarterly observation dates, returning principal plus the coupon then due. At maturity in 2029, investors receive full principal only if NVIDIA’s price has not fallen more than 40%; deeper declines lead to a proportional loss of principal, and investors can lose their entire investment. The estimated initial value is between $925 and $955 per $1,000 face amount, reflecting fees, hedging and issuer funding costs.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $1,400,000 of EURO STOXX 50® Index-linked notes maturing on February 15, 2028. The notes pay no interest and all return comes from the index performance and barrier conditions.
If the index ever closes above 135% of 6,047.06 during the measurement period, a barrier event occurs and investors receive $1,190 per $1,000 at maturity, a fixed 19% gain, regardless of the final index level.
If no barrier event occurs, investors get index-linked upside from 0% to a 35% maximum return, or downside limited by a $950 minimum settlement amount per $1,000 if the index finishes below its initial level. The estimated value at pricing is about $977 per $1,000, below the 100% issue price, reflecting fees, hedging costs and issuer credit spreads.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2031 under its Medium-Term Notes, Series N program. The notes are expected to pay fixed interest of 4.70% per year from the original issue date, expected to be February 17, 2026, until the stated maturity date, expected to be February 18, 2031.
Interest is expected to be paid semiannually on February 17 and August 17 of each year, beginning August 17, 2026. Goldman Sachs may redeem the notes, in whole but not in part, on specified quarterly redemption dates on or after February 17, 2028 at 100% of principal plus accrued interest.
The notes will be issued in book-entry form through DTC and are not bank deposits or FDIC insured. They are subject to U.S. federal income tax, including potential FATCA withholding, and can only be offered in certain jurisdictions to professional or qualified investors, with detailed selling restrictions in the EEA, UK, Hong Kong, Singapore, Japan and Switzerland.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2034 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at a fixed rate of 5.00% per annum from the original issue date to the stated maturity date.
Interest is expected to be paid semiannually on February 27 and August 27 of each year, beginning August 27, 2026. Goldman Sachs may, at its option, redeem the notes in whole (but not in part) on specified quarterly redemption dates on or after February 27, 2028 at 100% of principal plus accrued interest.
The notes will be issued in book-entry form through DTC, will not benefit from a sinking fund, and investors cannot require early repayment. The securities are not bank deposits, are unsecured obligations of Goldman Sachs, and are subject to U.S. federal income taxation and FATCA withholding rules as described in the accompanying materials.
The Goldman Sachs Group, Inc. is offering senior unsecured callable fixed rate notes due 2038 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at 5.25% per annum from the original issue date, expected to be February 26, 2026, to the stated maturity date, expected to be February 26, 2038.
Interest is expected to be paid annually on February 26 of each year, beginning February 26, 2027. Goldman Sachs may, at its option, redeem the notes in whole (but not in part) on specified quarterly redemption dates on or after February 26, 2028 at 100% of principal plus accrued interest to, but excluding, the redemption date.
The notes will be issued in book-entry form through DTC, are not bank deposits, and are not insured by the FDIC or any governmental agency. They are subject to U.S. federal income taxation on interest and potential capital gain or loss on disposition, and generally fall within FATCA withholding rules. Distribution is subject to selling and marketing restrictions in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $930,000 of index-linked notes due February 15, 2034. These notes pay no interest and the amount you receive at maturity depends on the better performer of the Dow Jones Industrial Average Futures Excess Return Index and the S&P 500® Futures Excess Return Index.
For each $1,000 note, if at least one index is at or above its initial level (544.966 for the Dow futures index and 562.90 for the S&P 500 futures index), you receive $1,000 plus 195% of the better index’s gain. If both indexes are below their initial levels, you receive $1,000 plus the better index’s loss, meaning you can lose up to your entire principal.
The notes are unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc. The estimated value on the trade date is approximately $885 per $1,000 face amount, below the issue price, reflecting underwriting discounts, structuring costs and dealer margins. Investors also face credit risk of the issuer and guarantor, market volatility, futures-related roll and financing effects, and uncertain tax treatment.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2046 that pay 5.625% interest per year. Interest accrues from the expected original issue date of February 27, 2026 to the expected stated maturity date of February 12, 2046, with payments expected each February 27 and at maturity, starting February 27, 2027.
Goldman Sachs may redeem the notes at its option, in whole but not in part, on each February 27, May 27, August 27 and November 27 on or after February 27, 2029 at 100% of principal plus accrued interest. The notes are issued as Medium-Term Notes, Series N in book-entry form through DTC, are subject to U.S. tax rules including FATCA withholding, and are distributed by Goldman Sachs & Co. LLC and InspereX LLC under a negotiated underwriting discount and varying initial prices for certain retirement and fee-based advisory accounts.
The Goldman Sachs Group, Inc. is issuing callable fixed rate notes due 2036 under its Medium-Term Notes, Series N program. The notes pay a fixed interest rate of 5.10% per annum from the original issue date, expected to be February 27, 2026, until the expected stated maturity date of February 12, 2036.
Interest is scheduled to be paid annually on February 27 of each year and on the stated maturity date, with the first interest payment expected on February 27, 2027. Goldman Sachs may, at its option, redeem the notes in whole (but not in part) on specified quarterly redemption dates starting on or after August 27, 2027, at 100% of the outstanding principal amount plus accrued and unpaid interest to, but excluding, the redemption date.
The Goldman Sachs Group, Inc. is offering senior unsecured callable fixed rate notes due 2029 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at 4.25% per annum from the original issue date to the stated maturity date, with payments expected semiannually on February 27 and August 27 each year.
Goldman Sachs may, at its option, redeem the notes in whole (but not in part) at 100% of principal plus accrued interest on specified quarterly redemption dates on or after February 27, 2027, upon at least five business days’ notice. U.S. holders are generally taxed on interest as ordinary income and recognize capital gain or loss on disposition. Distribution is led by Goldman Sachs & Co. LLC and InspereX LLC, with variable initial pricing for certain retirement and fee-based advisory accounts and a disclosed conflict of interest due to the affiliate underwriter.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2036 that pay interest at 5.20% per annum. Interest is expected to be paid semiannually on February 27 and August 27 of each year, beginning August 27, 2026, until the stated maturity date in 2036.
Goldman Sachs may redeem the notes at its option, in whole but not in part, on each scheduled redemption date starting February 27, 2028, at 100% of principal plus accrued and unpaid interest. The notes are unsecured senior obligations, issued in global form through DTC, and are not bank deposits or FDIC insured.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes under its Medium-Term Notes, Series N program. The notes pay interest at 4.00% per annum from the original issue date, expected to be February 25, 2026, to the stated maturity date, expected to be February 25, 2028.
Interest is expected to be paid semiannually on February 25 and August 25, beginning August 25, 2026. Goldman Sachs may, at its option, redeem the notes in whole on each February 25, May 25, August 25 and November 25 on or after August 25, 2026 at 100% of principal plus accrued interest. The notes will be issued in global form through DTC, are unsecured senior debt obligations, and are not bank deposits or FDIC insured.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2030 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at a fixed rate of 4.375% per annum from the expected original issue date of February 27, 2026 to the expected stated maturity date of February 27, 2030.
Interest is expected to be paid semiannually on February 27 and August 27 of each year, beginning August 27, 2026. Goldman Sachs may, at its option, redeem the notes in whole (but not in part) on specified quarterly redemption dates on or after February 27, 2028 at 100% of the outstanding principal amount plus accrued and unpaid interest.
The notes will be issued in book-entry form through DTC, with Goldman Sachs & Co. LLC and InspereX LLC acting as underwriters and intending to make a market, though no trading market is assured. The offer structure allows varying initial prices for certain retirement and fee-based advisory accounts, and the notes are subject to U.S. tax rules, including FATCA, and include detailed selling and marketing restrictions in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland. Because Goldman Sachs & Co. LLC is an affiliate of the issuer, the offering is treated as involving a conflict of interest under FINRA Rule 5121.
GS Finance Corp. is offering S&P 500®-linked buffered notes guaranteed by The Goldman Sachs Group, Inc. The notes have a 10% buffer (buffer level = 90% of the initial underlier level) and a capped cash payoff of $1,165.80 per $1,000 if the final underlier level is ≥ the buffer level. If the final underlier level is below the buffer level, holders lose approximately 1.1111% of face per 1% decline below the buffer and could lose the entire investment. Key terms: aggregate face amount $1,150,000, trade date February 10, 2026, original issue date February 13, 2026, determination date February 1, 2028, stated maturity February 3, 2028, initial underlier level 6,941.81. Original issue price is 100% of face, underwriting discount 1.1%, net proceeds to issuer 98.9%. The notes pay no interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.
GS Finance Corp. offers leveraged notes linked to the Global X Copper Miners ETF (COPX). The non‑interest‑bearing notes have an expected trade date of February 13, 2026 and an expected stated maturity of February 19, 2031. At maturity each $1,000 face amount will pay either (a) $1,000 if the final underlier level is equal to or below the initial level, or (b) $1,000 plus the product of $1,000, the upside participation rate of 125% and the ETF return, capped at a maximum settlement amount of $1,600 per $1,000. The notes reference the Global X Copper Miners ETF (ticker COPX) and expose holders to issuer/guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.; the estimated value at pricing is between $885 and $925 per $1,000 face amount.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2031 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at 4.50% per annum from the original issue date in February 2026 to the stated maturity in February 2031.
Interest is expected to be paid annually each February 27 and at maturity, with the first payment in February 2027. Goldman Sachs may, at its option, redeem the notes in whole on specified quarterly redemption dates starting February 27, 2027 at 100% of principal plus accrued interest.
The notes will be issued in book-entry form through DTC, are unsecured senior debt of Goldman Sachs, are not bank deposits, and are not insured by the FDIC or any government agency. The distribution is led by Goldman Sachs & Co. LLC and InspereX LLC, with detailed selling restrictions in the EEA, UK, Hong Kong, Singapore, Japan, and Switzerland.
GS Finance Corp. offers S&P 500® Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return either the face amount or a cash payment tied to the S&P 500 performance from the trade date to the determination date.
Key terms include a trade date of February 26, 2026, original issue date of March 3, 2026, determination date of February 26, 2029, stated maturity of March 1, 2029, a face amount of $1,000 per note, original issue price of 100%, underwriting discount of 2% and a stated maximum settlement amount of at least $1,195.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2033 under its Medium-Term Notes, Series N program. The notes pay interest at 4.80% per annum from the original issue date, expected to be February 27, 2026, to the stated maturity date, expected to be February 11, 2033.
Interest is expected to be paid annually on February 27 and at maturity, with the first payment on February 27, 2027. Goldman Sachs may redeem the notes, in whole but not in part, at 100% of principal plus accrued interest on specified quarterly redemption dates starting May 27, 2027.
GS Finance Corp. prices $ Trigger Autocallable Contingent Yield Notes guaranteed by The Goldman Sachs Group, Inc., linked to the least performing of the EURO STOXX 50® and the S&P 500®.
The notes pay a quarterly contingent coupon per $10 face amount between $0.2375 and $0.25 (up to 9.50–10.00 per annum), may be automatically called beginning on August 13, 2026, and have a downside threshold equal to 70.00 of each index's initial level. Estimated value at pricing is between $9.80 and $9.99 per $10 face amount. Payments, including principal, are subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2031 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at 4.70% per annum, with semiannual payments each February 27 and August 27, beginning August 27, 2026.
Goldman Sachs may redeem the notes at its option, in whole but not in part, at 100% of principal plus accrued interest on specified quarterly redemption dates starting February 27, 2027. The notes will be issued in book-entry form through DTC and are subject to U.S. federal income tax and FATCA rules as described. Distribution is through Goldman Sachs & Co. LLC and InspereX LLC, with detailed selling restrictions in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland.
GS Finance Corp. offers leveraged EURO STOXX 50® Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and have an upside participation rate of 159% measured from the trade date to the determination date.
Key economics: trade date February 27, 2026, original issue date March 4, 2026, determination date February 27, 2029, stated maturity March 2, 2029, original issue price 100% of face amount, underwriting discount 2.5%, net proceeds 97.5%. Payment at maturity: if final underlier > initial, payment = face + face × 159% × underlier return; if final ≥ 80% of initial, payment = face; if final < 80% of initial, payment = face + face × underlier return (losses can equal the full principal).
The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2041 under its Medium-Term Notes, Series N program. The notes pay fixed interest of 5.40% per annum from the original issue date, expected to be February 27, 2026, to the stated maturity date, expected to be February 12, 2041.
Interest is expected to be paid annually on February 27 and on the maturity date, with the first payment on February 27, 2027. Goldman Sachs may, at its option, redeem the notes in whole (but not in part) on scheduled redemption dates beginning August 27, 2028, at 100% of principal plus accrued interest. The notes are unsecured senior debt obligations, issued in global form through DTC, and are subject to U.S. federal income taxation on interest and to FATCA withholding rules.
The Goldman Sachs Group, Inc. is issuing $9,001,000 of callable fixed-rate notes due February 12, 2038. The notes pay interest at 5.125% per annum, with annual payments each February 12, starting February 12, 2027.
Goldman Sachs may redeem the notes, in whole but not in part, on February 12, May 12, August 12 and November 12 on or after February 12, 2028 at 100% of principal plus accrued interest. The notes are offered at 100% of principal, with an underwriting discount of 2.447%, resulting in proceeds of $8,780,745.53 before expenses. Goldman Sachs & Co. LLC and InspereX LLC are underwriting and may make a market in the notes.
GS Finance Corp. is offering callable equity-linked notes due in February 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return depends on the worst performer among Alphabet, Amazon, Tesla and NVIDIA.
Starting in February 2027, Goldman can redeem the notes monthly at $1,000 plus a preset call premium ranging from 24% up to 118%, ending in January 2031. If held to maturity and all four stocks finish above their initial prices, investors receive $1,000 plus 3× the gain of the worst-performing stock; otherwise they receive only $1,000.
The notes carry full issuer and guarantor credit risk, have limited anti-dilution protection, may trade below face value, and are expected to have an initial estimated value of $885–$925 per $1,000. For U.S. taxpayers, they are treated as contingent payment debt instruments, requiring annual ordinary income accruals regardless of cash payments.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering buffered equity-linked notes tied to the common stock of Eli Lilly and Company. The notes mature on February 17, 2028, with no periodic interest payments.
At maturity, each $1,000 note pays a cash amount based on Eli Lilly’s stock performance. If the final stock level is at or above the initial level, investors receive $1,000 plus the underlier return, capped at a maximum upside settlement amount of $1,200. If the stock falls but stays at or above 68.5% of the initial level (a 31.5% buffer), investors receive the absolute percentage move as a positive return.
If the final level drops below the 68.5% buffer level, investors lose 1% of face amount for each 1% decline below the buffer and can lose a substantial portion of principal. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. Tax treatment is uncertain and described as a pre-paid derivative contract in counsel’s opinion.
GS Finance Corp. is offering leveraged EURO STOXX 50® index-linked notes due 2032 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and have a face amount of $1,000 per note; payment at maturity depends on the underlier’s performance from the trade date to the determination date.
Key economic terms shown: an upside participation rate of at least 149.25%, a trigger buffer level equal to 60% of the initial underlier level (i.e., a 40% trigger buffer amount), trade date February 27, 2026, original issue date March 4, 2026, determination date February 27, 2032, and stated maturity date March 3, 2032.
GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Dow Jones Industrial Average, Russell 2000 and S&P 500, pay a contingent quarterly coupon of at least $16.375 (1.6375% quarterly; 6.55% per annum) when each underlier is at or above its coupon trigger level, and are automatically called if all underliers are at or above their initial levels on a call observation date. Coupon trigger levels are 70% of initial levels and trigger buffer levels are 55% of initial levels. Trade date is February 27, 2026 with original issue date March 4, 2026 and stated maturity March 4, 2031. The cash settlement at maturity, if not called, is based solely on the lesser performing underlier and could result in a total loss of principal.