Goldman Sachs Group (GS) 424B Filings

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $500,000 of index-linked notes due February 14, 2030. The notes pay no interest and repay principal based on the lesser performer of the S&P 500® Futures Excess Return Index and the Nasdaq-100 Futures Excess Return™ Index.

If both final index levels are at or above their initial levels (562.82 and 672.9745), holders receive $1,000 plus 2.18 times the lesser index gain per $1,000. If any index finishes below its initial level but both stay at or above 60% of initial, investors receive $1,000. If any index finishes below 60% of initial, repayment falls in line with the lesser index return and principal losses can reach 100%.

The estimated value at pricing is about $971 per $1,000 face amount, reflecting structuring and distribution costs, including a structuring fee of up to 0.8% of face. The notes carry full credit risk of GS Finance Corp. and the guarantor and are not insured or exchange-listed.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER.

The notes pay no interest and may be called quarterly starting in February 2027 if the index meets step-down call levels, returning principal plus a call premium. If not called and the index is at least 60% of its initial level at maturity in February 2031, holders receive a capped maximum of $1,950.04 per $1,000 face amount. If the index falls more than 40%, repayment is fully exposed to losses and investors can lose their entire principal.

The underlying index uses up to 500% leverage and a 6% per annum daily decrement, which magnify downside moves and systematically drag performance versus a similar index without a decrement. The indicative model value at pricing is expected between $885 and $925 per $1,000, below the 100% issue price, and secondary market prices may be further reduced by dealer spreads and market factors.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon (with memory) barrier notes linked to ordinary shares of FTAI Aviation Ltd. Each note has a $10 principal amount and pays quarterly contingent coupons only if the share price is at least 55% of the starting value.

The contingent coupon for a single period is expected to be between $0.4375 and $0.4625 per unit, equivalent to about 17.50%–18.50% per year, with a memory feature that can make up missed coupons later if conditions are met. The notes can be called automatically on semi-annual dates if the share price is at or above the starting value, returning principal plus the due coupon.

If the notes are not called and the share price has fallen more than 45% at maturity, investors take one‑for‑one losses below the starting value, with up to the entire principal at risk. The estimated value on the pricing date is expected between $9.25 and $9.55 per $10 note, reflecting structuring and distribution costs, and the notes have limited liquidity, a $100,000 minimum purchase, and are fully exposed to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $5,000,000 of floating rate notes due February 17, 2033. The notes pay quarterly interest at compounded SOFR plus 0.95% per annum, subject to a minimum rate of 0.50% per annum, on $1,000 denominations.

The original issue price is 100% of principal, with a 1.15% underwriting discount and net proceeds of 98.85% of principal. The notes are unsecured obligations exposed to the credit risk of GS Finance Corp. and its guarantor, are not bank deposits, and are not FDIC insured.

The notes are not redeemable before maturity and are not expected to be listed, so secondary liquidity may be limited and prices may fall if interest rates rise. Interest is treated as ordinary income for U.S. tax purposes, and the notes are generally subject to FATCA and ERISA-related investment constraints for certain plans.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium-term autocallable contingent coupon barrier notes linked to Tesla, Inc. stock. Each unit has a $10 principal amount, with an expected two-year term if the notes are not called early.

Investors may receive quarterly contingent coupons between $0.325 and $0.35 per unit (a 13.00%–14.00% annualized rate) only when Tesla’s stock is at or above 50% of its starting value on the observation dates, with a memory feature that can make up missed coupons later.

The notes can be automatically called semi-annually if Tesla’s share price is at or above the starting value, returning principal plus the due coupon and ending the investment. If not called and Tesla has fallen more than 50% at maturity, repayment is reduced 1-to-1, putting up to 100% of principal at risk. The estimated initial value is between $9.25 and $9.55 per $10, below the public price, and secondary market liquidity is expected to be limited. All payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable notes linked to the State Street SPDR S&P 500 ETF Trust (SPY), maturing in 2031. The notes pay no interest and repayment depends on SPY’s performance.

The notes may be automatically called in March 2027 if SPY is at or above its initial level, in which case investors receive $1,137 per $1,000 face amount. If not called, principal is protected only down to a 10% buffer; below 90% of the initial level at maturity, losses increase one-for-one with further declines.

The pricing supplement highlights that the model-based estimated value on the trade date is lower than the issue price, that secondary market values may be volatile and illiquid, and that investors face full issuer and guarantor credit risk. It also explains complex and uncertain U.S. tax treatment, including potential application of Section 1260 constructive ownership rules and FATCA withholding.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering buffered notes linked to the S&P 500® Index that pay no interest and are scheduled to mature on March 7, 2029. Your return depends entirely on the index level on a single determination date near maturity.

At maturity, for each $1,000, you receive $1,000 plus 95.5% of any positive index gain. If the index is flat or down by up to 30%, you still receive $1,000, so modest declines are absorbed by a buffer. If the index is down more than 30%, your payoff falls one‑for‑one with the index loss, and you can lose your entire investment.

The notes are unsecured obligations of GS Finance Corp. and subject to the credit risk of both the issuer and the guarantor. The bank estimates the initial economic value at between $925 and $965 per $1,000, below the 100% issue price, reflecting fees, hedging costs and dealer margins. Liquidity is not assured, and secondary prices may be volatile and sensitive to rates, volatility and credit spreads.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable contingent coupon index-linked notes due February 27, 2029. The notes are tied to the Nasdaq-100, Russell 2000 and S&P 500 indices, and pay a monthly coupon of $6.917 per $1,000 (0.6917% monthly, up to about 8.3% per year) only if each index stays at or above 70% of its initial level on the relevant observation date.

At maturity, if the notes have not been redeemed and every index finishes at or above its 70% trigger buffer level, holders receive $1,000 per note plus any final coupon. If any index ends below its trigger buffer, repayment is reduced in line with the worst index’s loss, and principal can fall to zero. The issuer may redeem the notes at par, plus any due coupon, on monthly coupon dates from August 2026 through January 2029. The supplement highlights credit risk to both GS Finance Corp. and its parent, potential lack of secondary market liquidity, and tax uncertainty around this pre-paid derivative structure.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing index-linked medium-term notes with an aggregate face amount of $7,912,000. The notes pay a contingent monthly coupon of $8.542 per $1,000 (0.8542% monthly, about 10.25% per year) only if on each observation date all three underliers — the Nasdaq-100, Russell 2000 and S&P 500 indices — are at or above 70% of their initial levels.

The notes can be automatically called on scheduled dates if each index is at or above its initial level, returning $1,000 per note plus any due coupon. If not called, payment at maturity depends on the worst-performing index: investors receive full principal back only if every index finishes at or above 60% of its initial level. If any index ends below this 60% trigger buffer, principal is reduced in line with the worst index’s loss and investors can lose up to their entire investment. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and may have limited liquidity and complex tax treatment.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $600,000 of market-linked notes tied to the iShares Bitcoin Trust ETF, maturing in February 2029 at $1,000 per note.

The notes offer 125% leveraged upside if held to maturity, an 18% fixed premium if auto-called in 2027, and a 20% downside buffer. Losses begin if the ETF falls more than 20% and can reach 80% of principal. The notes pay no interest, are not exchange-listed and carry the credit risk of GS Finance Corp. and its guarantor. The estimated initial value is about $939 per $1,000 face amount, below the issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, is issuing auto-callable notes linked to the S&P 500 Index, iShares Russell 2000 Growth ETF and State Street Utilities Select Sector SPDR ETF. The aggregate face amount is $40,932,000, in $1,000 denominations, maturing on February 15, 2029.

Investors can receive a fixed coupon of $9.167 per $1,000 (0.9167% monthly, about 11% per year) on each monthly payment date, but only if all three underliers are at or above 75% of their initial levels. If any underlier is below that threshold on an observation date, no coupon is paid for that month.

The notes are automatically called if, on certain observation dates starting in April 2026, each underlier is at or above its initial level, returning principal plus the applicable coupon. If held to maturity and any underlier has fallen more than 25% from its initial level, principal is reduced using a buffer rate of about 133.33% of the loss beyond the 25% buffer, and investors can lose their entire investment. Payments depend on the credit of GS Finance Corp. and its guarantor, and the tax treatment is uncertain, with the issuer intending to treat the notes as income-bearing prepaid derivative contracts.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $2,860,000 of leveraged buffered basket-linked notes due February 16, 2028. The notes pay no interest and repay at maturity based on an equally weighted basket of the S&P 500, Russell 2000 and EURO STOXX 50.

The initial basket level is 100, with 150% upside participation but a cap at a maximum settlement of $1,242.5 per $1,000 note (about 24.25% maximum gain). A 10% downside buffer applies: if the basket falls up to 10%, investors gain the same percentage; below that, losses exceed the buffer and can be substantial.

The estimated value at pricing is approximately $981 per $1,000 face amount. Underwriting discount is 0.8% of face, for net proceeds of 99.2% to the issuer. Repayment is subject to the unsecured credit risk of GS Finance Corp. and the guarantor, and the notes carry structural, market, liquidity and tax risks described in detail.

GS Finance Corp. is offering $1,142,000 in auto-callable, equity-linked notes fully guaranteed by The Goldman Sachs Group, Inc. The notes reference Broadcom, Alphabet Class A and Meta Class A shares, with a 300% upside participation rate based on the lowest-performing stock.

The notes can be automatically called in February 2027, paying $1,600 per $1,000 face amount if each stock is at or above its initial level. Otherwise, at maturity in February 2029, repayment depends on the worst underlier, with a 60% trigger buffer but potential for a total loss of principal and no interest payments.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium-term notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indices with a face amount of $1,990,000.

The notes pay a contingent monthly coupon of $8.584 per $1,000 (0.8584% monthly, up to about 10.30% per year) only if each index is at or above 70% of its initial level on the observation date. The notes are automatically called if, on any call observation date from August 11, 2026, all indices are at or above 100% of their initial levels, in which case investors receive $1,000 per note plus the coupon.

If the notes are not called, at maturity on February 14, 2031 investors receive full principal only if each index is at or above 60% of its initial level. If any index finishes below 60%, repayment is reduced in line with the worst index’s loss, and investors can lose their entire investment. The notes carry the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., may have limited or no secondary market liquidity, offer no equity ownership or dividends, and involve uncertain and complex U.S. tax treatment.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing index-linked notes with an aggregate face amount of $1,707,000. These five-year notes offer a contingent quarterly coupon of $17.625 per $1,000 face amount (1.7625% quarterly, up to 7.05% per year) if on each observation date the Nasdaq-100, Russell 2000 and S&P 500 are all at or above 65% of their initial levels.

The notes can be automatically called starting in February 2027 if all three indices are at or above their initial levels, in which case investors receive $1,000 per note plus the due coupon and the product terminates early. If held to maturity without being called and any index finishes below 55% of its initial level, investors lose principal in line with the worst-performing index and could lose their entire investment.

The issuer highlights that the original issue price exceeds the model-based estimated value, reflecting underwriting discounts (2% plus up to 0.8% structuring fee) and other costs, and stresses that the notes are unsecured obligations 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 index-linked notes tied to the Nasdaq-100, Russell 2000 and S&P 500. The notes pay a contingent monthly coupon of $8.959 per $1,000 (0.8959% monthly, up to about 10.75% per year) only if all three indices are at or above 70% of their initial levels on each observation date.

The notes can be automatically called if all indices are at or above their initial levels on specified call dates, returning $1,000 per note plus any due coupon. If held to maturity and any index finishes below 60% of its initial level, principal is reduced one-for-one with that index’s loss, and investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, are not listed on any exchange, and have complex, uncertain tax treatment, with coupons likely taxed as ordinary income.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering long-dated structured notes linked to the Russell 2000 Index, the Nasdaq-100 Technology Sector Index and the VanEck Semiconductor ETF. The notes run to an expected February 25, 2032 maturity unless automatically called.

Investors may receive a contingent monthly coupon of $14.375 per $1,000 (1.4375%, up to 17.25% per year) only when the closing level of each underlier on an observation date is at least 75% of its initial level

If the notes are not called, principal repayment at maturity depends solely on the worst-performing underlier. If each underlier is at least 60% of its initial level, investors receive full face amount (plus any final coupon); if any falls below 60%, repayment is reduced one-for-one with that underlier’s loss and investors can lose all or most of their investment. The notes carry the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and their estimated value on the trade date is expected to be $885–$925 per $1,000, below the issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering fixed coupon notes linked to the S&P 500 Index and the iShares MSCI EAFE ETF. Investors receive monthly coupons of $5.417 per $1,000 (about 6.5% per year) regardless of underlier performance.

At maturity in February 2028, principal repayment depends on the lesser performing underlier. If each underlier has not fallen more than 20% from its initial level, investors receive $1,000 per note plus the final coupon. If either underlier is down more than 20%, repayment is reduced using a 20% buffer and a 125% buffer rate, and investors can lose up to their entire principal.

The notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The estimated value on the trade date is expected to be between $925 and $955 per $1,000, below the issue price, reflecting dealer compensation, hedging and structuring costs.

GS Finance Corp, guaranteed by The Goldman Sachs Group, Inc., is offering unsecured floating rate notes linked to compounded SOFR and maturing on February 18, 2033.

Each note has a $1,000 minimum denomination and pays interest quarterly at compounded SOFR plus 1.05% per year, with a minimum rate of 0.50% per annum. Interest is expected to be paid every February 18, May 18, August 18 and November 18, beginning May 18, 2026.

The notes are not bank deposits, are not FDIC insured, will not be listed on an exchange, and may have limited secondary market liquidity. Investors take on the credit risk of both GS Finance Corp as issuer and The Goldman Sachs Group, Inc. as guarantor, and the market value can be sensitive to changes in SOFR, interest rates and Goldman Sachs’ perceived creditworthiness. Net proceeds are expected to be lent to The Goldman Sachs Group, Inc. or its affiliates.

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.