Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers $2,000,000 aggregate callable contingent coupon notes linked to the iShares® Silver Trust (SLV). The notes mature on February 14, 2028 and pay a contingent monthly coupon of $28.75 per $1,000 (2.875% monthly) only if the closing level of the underlier on each coupon observation date is at least 80% of the initial level of $66.69. The issuer may redeem the notes, at its option, on monthly coupon payment dates beginning in August 2026 through January 2028 at 100% of face plus any coupon due.

At maturity, if the final underlier level is greater than or equal to 80% of the initial level, holders receive $1,000 plus any final coupon; if lower, holders receive $1,000 plus $1,000 times the underlier return, which can result in a substantial loss of principal. Payments are subject to the credit risk of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc.

GS Finance Corp. offers $10,180,000 aggregate face amount of autocallable, contingent-coupon index-linked notes due April 12, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a monthly coupon of 1% per $1,000 face amount if on a coupon observation date each underlier is at or above its 70% coupon trigger level, and will be automatically called if on any call observation date each index is at or above its initial level. If not called, the maturity payoff depends on the lesser performing underlier and includes a 30% buffer (buffer rate ~142.86%) that limits but does not eliminate loss if the worst index falls below 70% of its initial level. Trade date is February 9, 2026 and original issue date is February 12, 2026. The notes are unsecured obligations subject to issuer and guarantor credit risk and possible withholding or uncertain U.S. tax treatment.

GS Finance Corp. prices S&P 500® index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes have a trade date expected February 27, 2026, original issue date expected March 4, 2026 and stated maturity expected August 30, 2030. Each note has a $1,000 face amount and an upside participation rate of 100%. The notes cap upside at a cap level of at least 152.2% of the initial index level, producing a maximum settlement amount of at least $1,522 per $1,000 face amount, and provide a minimum settlement amount of $900 per $1,000 face amount. The estimated value at the trade date is expected to be between $895 and $945 per $1,000 face amount. Payments at maturity are cash-settled based on the S&P 500® Index final level on the determination date expected August 27, 2030, and are subject to the issuer’s and guarantor’s credit risk.

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 an aggregate face amount of $4,171,000.

The notes pay a contingent monthly coupon of $10.584 per $1,000 face amount (about 1.0584% per month, or up to approximately 12.7% per year) only if on each observation date all three indices close at or above 70% of their initial levels. If on any call observation date all three indices are at or above their initial levels, the notes are automatically called at $1,000 per note plus the coupon.

If the notes are not called, the maturity payment depends on the worst-performing index. Investors receive full principal only if the worst index finishes at or above 70% of its initial level; otherwise, repayment is reduced one-for-one with the decline, potentially to zero. Investors bear the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., have no rights in the underlying stocks, and may face limited liquidity and significant price volatility.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $1,000 face amount market-linked notes due February 23, 2029 tied to the Class A common stock of Roku, Inc.

The notes pay a contingent quarterly coupon of at least $51.25 per $1,000 (at least 20.50% per annum) only if Roku’s stock closing price on the relevant calculation day is at or above 60% of the starting price. If the stock is below this coupon threshold on a calculation day, no coupon is paid for that quarter.

Starting with the August 2026 calculation day and through November 2028, the notes are automatically called if Roku’s closing price is at or above the starting price, returning the $1,000 face amount plus a final coupon. If not called, at maturity investors receive $1,000 only if the final price is at or above 60% of the starting price. If the final price is below this downside threshold, repayment is reduced in line with Roku’s decline from the starting price and investors can lose more than 40%, up to their entire principal.

Investors do not participate in any upside of Roku’s stock and receive no dividends. The estimated value on the pricing date is expected to be $900–$930 per $1,000, below the $1,000 offering price, reflecting fees and structuring costs, including an underwriting discount of up to $23.25 per $1,000. All payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes are not listed and are intended to be held to maturity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged buffered notes linked to the S&P 500® Index, maturing in 2031. The notes pay no interest and the payoff depends entirely on index performance between the trade and determination dates.

If the index rises, investors receive $1,000 plus 104% of the index gain. If the index falls up to the 20% buffer, investors receive only the $1,000 face amount. Below the 80% buffer level, investors lose 1.25% of principal for every additional 1% decline and can lose their entire investment.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent guarantor. They will not be listed on an exchange, their estimated value at pricing will be below the issue price, secondary liquidity is uncertain, and U.S. tax treatment is complex and uncertain.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500® Index-linked notes due on an expected stated maturity date of September 2, 2031. The notes pay no interest and all return comes from the index performance.

At maturity, each $1,000 note pays a cash amount based on the S&P 500® return from the expected trade date of February 27, 2026 to the determination date, with 100% upside participation, a minimum settlement amount of $900, and a maximum settlement amount of at least $1,530. If the index finishes below its initial level, investors can lose up to 10% of principal; if it rises strongly, gains are capped once the index reaches at least 153% of its initial level.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value at pricing is expected between $885 and $935 per $1,000 face amount, and the notes are treated as contingent payment debt instruments for U.S. federal income tax purposes.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering no-interest structured notes maturing on February 14, 2028 with returns tied to three ETFs: KraneShares CSI China Internet, State Street® SPDR® S&P® Biotech and VanEck Semiconductor.

For each $1,000 face amount, investors receive a maximum of $1,238.5 if the final level of each ETF is at least 60% of its initial level. If any ETF finishes below 60% but all remain at or above 50%, investors receive only the $1,000 principal. If any ETF ends below 50% of its initial level, repayment is reduced one-for-one with the loss on the worst ETF, and investors can lose most or all of their principal.

The initial ETF levels are $34.34 (KWEB), $126.11 (XBI) and $406.65 (SMH). Aggregate face amount on the issue date is $866,000, original issue price is 100% of face, the underwriting discount is 0.85% and net proceeds are 99.15% of face. The estimated value at pricing is approximately $968 per $1,000, below the issue price, and secondary market prices may include an additional temporary premium that amortizes to zero by May 8, 2026.

GS Finance Corp. is offering auto-callable, income-bearing notes linked to the Nasdaq-100 Index, the Russell 2000 Index and the State Street Energy Select Sector SPDR ETF, guaranteed by The Goldman Sachs Group, Inc. The notes pay a monthly coupon of $10.834 per $1,000 face amount (1.0834% monthly, about 13% per year) only if on each observation date all three underliers are at or above 70% of their initial levels.

The notes can be automatically called starting in August 2026 if each underlier is at or above its initial level, returning principal plus the applicable coupon. If held to the expected February 22, 2028 maturity and any underlier has fallen more than 30% from its initial level, repayment of principal is reduced in line with the worst-performing underlier, and investors can lose most or all of their investment. The estimated value at pricing is expected to be between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering Intel-linked medium-term notes that pay a contingent monthly coupon and can be automatically called before their February 2029 maturity. Each $1,000 note pays $14.584 (1.4584% monthly, up to about 17.5% per year) only when Intel’s share price is at or above 60% of the initial level on the relevant observation date.

Principal is protected only if Intel’s final level on the determination date remains at or above 50% of the initial $50.24 level; below that, repayment is reduced one-for-one with the stock’s decline, and investors could lose their entire investment. Upside is capped at par: even if Intel doubles, holders only receive $1,000 per note plus any due coupon. The notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., plans to issue zero-coupon notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest and may be automatically called semi-annually from February 2027 through August 2032 if the index closes at or above 101% of its initial level, triggering return-of-principal plus a fixed call return that rises from 11% to 71.5%.

If not called, at maturity in February 2033 investors receive either principal only if the index is below 101% of its start level, or a capped maximum of $1,770 per $1,000 face amount (a 77% maturity return) if the index is at or above 101%. The issuer’s estimated value is between $885 and $925 per $1,000, reflecting embedded fees and hedging costs. The underlying index is a rules-based, volatility- and momentum-controlled basket with daily rebalancing, significant potential cash allocations and a 0.65% per annum deduction on an excess-return basis over the federal funds rate.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon notes linked to the iShares Semiconductor ETF (SOXX), expected to mature in February 2029.

Each $1,000 note pays a contingent quarterly coupon of at least $45 (at least 4.5% per quarter, up to at least 18% per year) only if on the observation date the ETF is at or above 75% of its initial level. Starting in August 2026, the notes are automatically called if the ETF is at or above its initial level, returning $1,000 plus the coupon.

If not called, at maturity investors receive $1,000 plus the final coupon if the ETF is at or above 75% of its initial level, $1,000 with no coupon if it is between 65% and 75%, and a reduced amount if it is below 65%, matching the ETF loss and potentially down to zero. Investors bear the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., receive no ETF dividends, and face structural, liquidity and tax risks. The estimated value on the trade date is expected to be $925–$955 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-at-risk Contingent Income Auto-Callable Securities linked to Alphabet Inc. Class A stock, scheduled to mature on February 23, 2029.

The notes can be automatically called on quarterly observation dates if Alphabet’s share price is at or above the initial share price, returning $1,000 per security plus any contingent coupon then due. When the stock closes at or above a downside threshold set at 65.00% of the initial share price, investors receive a contingent quarterly coupon based on at least $25.125 per $1,000 principal, adjusted for unpaid coupons. If the final share price is below the downside threshold, repayment of principal is reduced in line with the share decline, and investors may lose all of their investment. The securities are sold at 100% of principal with a 2.25% underwriting discount, have an estimated value range of $915 to $975 per $1,000 at pricing, pay no fixed interest, and will not be listed on any exchange.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Performance Leveraged Upside Securities (PLUS) linked to the S&P 500® Index, maturing on February 7, 2028.

The notes provide 200% leveraged upside on any positive S&P 500 return, but the payout is capped at a maximum payment at maturity of at least $1,257.5 per $1,000 (at least 125.75% of principal). If the index is flat, investors receive $1,000; if it declines, they lose 1% of principal for each 1% index decline, with no minimum repayment, so the entire investment can be lost.

The PLUS pay no interest and do not provide dividends on index stocks. They are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor. The estimated value is disclosed as $925 to $985 per $1,000 PLUS, below the 100% original issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $37,000,000 of Trigger Callable Contingent Yield Notes due 2029 linked to the worst performer of the S&P 500, Russell 2000 and EURO STOXX 50 indices.

The notes can be redeemed by the issuer quarterly from May 2026 to February 2029 at face value plus any due contingent coupon. Investors may receive a quarterly coupon of $0.275 per $10 note (up to 11.00% per year) only if all three indices stay at or above 70% of their initial levels on every trading day in the observation period.

At maturity, if not redeemed and each index is at or above 60% of its initial level, holders receive full principal plus any final coupon. If any index finishes below its 60% downside threshold, repayment is reduced one-for-one with the loss on the worst index, and all principal can be lost. Payments depend on the credit of GS Finance Corp. and its parent guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged notes linked to the EURO STOXX 50® Index, maturing in 2031. The notes pay no interest and repay cash at maturity based on index performance from the trade date to the determination date.

If the index finishes at or above its initial level, holders receive $1,000 plus at least 155.7% of the index gain. If the index falls but stays at or above 60% of its initial level, holders receive the absolute index return as a positive gain. If it falls below 60%, repayment is reduced one-for-one with the index loss and principal can be completely lost. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, and the estimated value at pricing is lower than the issue price.

Goldman Sachs is offering securities linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, a leveraged, rules-based index tied to E-mini S&P 500 futures. The index adjusts exposure daily based on volatility, calendar signals and price patterns, with exposure capped at 500% and daily leverage changes capped at 100%.

The index applies a daily decrement of 6.0% per annum to its level. Based largely on hypothetical data, it shows annualized returns of -11.15% with 43.34% volatility over 1 year and 11.55% return with 41.83% volatility since January 4, 2021. The securities are unsecured, not bank deposits, and are not insured by the FDIC or any governmental agency.

Goldman Sachs is offering securities linked to the new S&P 500® Futures 40% VT Adaptive Response Index (USD) ER, which overlays the S&P 500® Futures Excess Return Index with a rules-based strategy. The overlay adjusts exposure daily, targeting volatility-managed exposure with a maximum leverage of 500% and a maximum daily leverage change of 100%.

The index, launched on December 27, 2024, uses historical and hypothetical data back to January 4, 2000. For the period ended January 30, 2026, it shows annualized returns of -5.58% over 1 year, 23.19% over 3 years, 18.61% over 5 years and 18.55% since January 4, 2021, with annualized volatility around the 41%–43% range. Index exposure to the underlying S&P 500® Futures Excess Return Index reached 438.95% on January 30, 2026, illustrating the high-leverage nature of the strategy.

The document stresses that much of the performance history is hypothetical, derived from the index sponsor’s website, and that past or hypothetical results should not be viewed as an indication of future performance. The securities are unsecured obligations of GS Finance Corp., not bank deposits and not insured or guaranteed by any governmental agency.

Goldman Sachs is offering securities linked to the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER, which uses E-mini S&P 500 futures with a daily, rules-based leverage overlay. The index targets volatility-adjusted exposure to the S&P 500® Futures Excess Return Index, with leverage capped at 500% and daily changes in leverage limited to 100%.

The index incurs a daily decrement equivalent to 4.0% per year and rebalances daily. It launched on December 27, 2024, with earlier performance based on hypothetical back-tested data from the index sponsor. For the period ended January 30, 2026, the index shows an annualized return of -9.33% over one year but higher multi-year annualized returns than the S&P 500® Index and the S&P 500® Futures Excess Return Index over three, five and since January 4, 2021, based on historical and hypothetical data. On January 30, 2026, index exposure to the S&P 500® Futures Excess Return Index was 438.95%.

The materials emphasize that past performance, including hypothetical back-tests, does not indicate future results and highlight risk factors for investors in securities linked to this leveraged, decrement-based index.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering leveraged buffered notes linked to the S&P 500 Futures Excess Return Index, maturing in 2031. The notes provide at least 179% upside participation in index gains and a 20% downside buffer.

If the final index level is above the initial level, holders receive $1,000 plus 179% of the index gain per $1,000 note. If the index falls up to 20%, principal is returned; below the 80% buffer level, principal losses match further declines, up to a substantial loss.

The notes pay no interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, and are linked to futures, not directly to the S&P 500 Index. The estimated value at pricing is lower than the issue price, and secondary market liquidity is uncertain.

GS Finance Corp. provides a February 2026 supplemental index fact sheet for securities linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The index uses a rules-based overlay on the S&P 500® Futures Excess Return Index, adjusting exposure daily.

The strategy targets volatility-adjusted exposure with calendar and price-pattern signals, subject to a maximum exposure of 500% and a maximum daily change in leverage of 100%, and applies a 6.0% per annum daily decrement. The document highlights extensive risks, including leverage, volatility targeting, complex signals, negative roll yields, and the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

Goldman Sachs, through GS Finance Corp., describes unsecured, index-linked notes tied to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes are guaranteed by The Goldman Sachs Group, Inc. and expose investors to both issuer credit risk and index performance.

The index (SPAR4V6) tracks the S&P 500® Futures Excess Return Index with a rules-based overlay that targets 40% volatility, allows up to 500% leverage and caps daily leverage changes at 100%. It also applies a 6% per annum daily decrement and uses signals based on mean reversion, Federal Open Market Committee dates and turn-of-the-month patterns.

The document highlights that most index history is hypothetical backtested data and stresses that past and simulated performance are not indicative of future results. It includes illustrative auto-callable contingent interest note structures where SPAR4V6 underlies notes offering coupons such as 15.00% and 18.00%, along with backtested internal rates of return and loss frequencies, while emphasizing substantial risks, including leverage, volatility targeting, decrement drag and potential principal loss.

GS Finance Corp, guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to Palo Alto Networks, Seagate Technology and Palantir Class A shares. The notes pay variable monthly coupons based on each stock’s price relative to its initial level.

Investors receive the maximum coupon of $7.917 per $1,000 (about 9.5% per year) when all stocks are at or above 70% of their initial prices, and only $0.209 (about 0.25% per year) if any stock falls below that trigger. The notes can be automatically called from 2027 through early 2031, returning principal plus the applicable coupon. At maturity in 2031, holders receive $1,000 per note plus the final coupon, subject to the credit risk of GS Finance Corp and its guarantor. The estimated initial value is between $885 and $925 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering non-interest-bearing structured notes linked to an equally weighted basket of four tech stocks: CrowdStrike, Microsoft, Palo Alto Networks and Snowflake.

The notes offer 125% upside participation above the basket’s initial level, a 15% downside buffer, and may be automatically called in 2027 for at least $1,204 per $1,000 face amount if the basket is at or above its initial level. If not called, they mature in 2028 with repayment ranging from full principal to significant loss depending on the basket’s final level. The issuer’s estimated initial value is between $900 and $930 per $1,000 face amount, reflecting fees and pricing model assumptions.

The Goldman Sachs Group, Inc. is offering fixed-to-floating rate notes that pay a fixed 4.37% per annum from March 13, 2026 to June 13, 2026, with interest paid monthly on the 13th.

From June 13, 2026 to April 13, 2027, the notes bear a floating rate equal to compounded SOFR plus 0.15%, subject to a 0.00% minimum rate, also paid monthly. Each note has a $1,000 denomination, matures on April 13, 2027, and is an unsecured obligation of Goldman Sachs, subject to its credit risk and not insured by the FDIC.

The notes are not redeemable before maturity and will not be listed on an exchange, so liquidity may be limited. The issuer may later sell additional notes at different prices. For U.S. tax purposes, the notes are expected to be treated as variable rate debt instruments with potential original issue discount, and Goldman Sachs or affiliates may hedge using SOFR-linked instruments.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium-term, S&P 500®-linked notes with an approximately eighteen‑month maturity and $10 principal per unit, with a $100,000 minimum purchase.

If the S&P 500® Ending Value is less than or equal to the Starting Value, investors receive their $10 principal plus a fixed "Digital Payment" of 10.00%–15.00%. If the index rises but stays at or below 115.00% of the Starting Value, the notes pay a positive return equal to that percentage increase.

If the index ends above 115.00% of the Starting Value, principal is reduced with 1‑to‑1 negative exposure above that threshold, subject to a Minimum Redemption Amount of $1.50 per unit, so investors can lose most of their principal. The notes pay no periodic interest, have limited secondary market liquidity, and all payments are subject to the credit risk of GS Finance Corp. and its parent guarantor. The initial estimated value is expected between $9.25 and $9.55 per $10 principal amount, below the $10 public offering price.

GS Finance Corp. is offering autocallable equity-linked notes due February 22, 2028 guaranteed by The Goldman Sachs Group, Inc. The notes reference four stocks: Alphabet (GOOG), Microsoft (MSFT), NVIDIA (NVDA) and Tesla (TSLA).

Notes pay no interest, may be automatically called monthly if all underliers close at or above initial levels on a call observation date, and cap upside (maturity premium 16.20%) while exposing holders to downside tied to the lesser performing underlier.

GS Finance Corp. priced Market Linked Securities linked to Robinhood Markets, Inc. (Class A) with a $1,000 face amount per security and an original offering totaling $500,000 face amount. The securities pay a $22.50 monthly contingent coupon per $1,000 (a stated contingent coupon rate of 27.00% per annum) only if the underlying stock's closing price on each calculation day is at or above the coupon threshold (60% of the starting price). The securities are auto-callable if the stock closing price on any call date from August 2026 through January 2027 is greater than or equal to the starting price $82.82, in which case holders receive face amount plus a final contingent coupon. If not called, maturity payment depends on the ending price relative to the downside threshold (60% of the starting price); an ending price below that threshold results in proportional principal loss, possibly up to total loss. Estimated value at pricing was approximately $951 per $1,000 face amount. Payments are subject to issuer and guarantor credit risk and there is no exchange listing.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering capped, non‑interest notes linked to an equally weighted basket of eight stocks. The notes trade date is February 6, 2026, original issue date February 11, 2026, and stated maturity February 10, 2028.

The notes pay no interest, have an upside participation rate of 125%, a buffer amount of 15% (buffer level = 85% of initial basket level) and a buffer rate of approximately 117.65%. They will be automatically called on the call observation date February 19, 2027 if the closing basket level is >= initial basket level, producing a capped cash payment of $1,165.5 per $1,000 face amount. The estimated value on the trade date was approximately $945 per $1,000 face amount. Original issue price is 100%, underwriting discount 1.5%, net proceeds 98.5%. Aggregate face amount initially $4,307,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering equity-linked notes tied to XPeng ADSs, Pan American Silver and Freeport-McMoRan stock. The notes pay no interest and have a face amount of $1,000 per note, with an aggregate initial issuance of $3,064,000.

The notes may be automatically called on May 6, 2026 if each stock closes at or above 80% of its initial price ($17.72, $55.21 and $60.67 respectively). If called, investors receive $1,250 per $1,000 on May 11, 2026.

If not called, the February 9, 2029 maturity payment is based on the worst-performing stock. If all final prices exceed initial prices, the return is 200% of the lesser stock’s gain. If any stock ends at or below its initial price but all stay at or above 60% of initial, investors receive their full face amount. If any stock finishes below 60% of its initial price, repayment is reduced one-for-one with the loss on the worst stock and investors can lose most or all of principal.

The estimated value at pricing is approximately $934 per $1,000 face amount, below the issue price, reflecting dealer compensation, structuring fees of up to 0.4%, and hedging costs. Payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes will not be listed, so liquidity may be limited.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering zero-coupon structured notes linked to the common stock of Broadcom Inc. The notes may be automatically called quarterly starting in February 2027 if Broadcom’s share price meets or exceeds a step-down call price schedule.

If called, investors receive $1,000 plus a call premium (starting at 13.2% and rising to 62.7%) per $1,000 face amount. If not called, the notes mature in February 2031 with a 66% maximum gain if Broadcom’s final price is at least 80% of the initial price, and a buffered downside where losses begin beyond a 20% decline. The estimated initial value is between $885 and $935 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering structured notes linked to the common stock of UnitedHealth Group, Microsoft and Broadcom. The notes have a stated maturity date: February 9, 2029 and an automatic call observation date: February 15, 2027. If on that observation date each stock is >= 90% of its initial price, notes are automatically called and pay $1,535 per $1,000 face amount on the call payment date. If not called, the maturity payoff depends on the lesser performing stock: a positive payoff equals 300% times the lesser performing stock return above its initial price, a full face amount is paid if all final prices remain >= 50% of initial prices, and losses 50%) occur if any final price is < 50%. The trade date is February 6, 2026, original issue date February 11, 2026, original issue price 100%, underwriting discount 2.25%, and estimated model value at pricing ~ $926 per $1,000 face amount.

GS Finance Corp. offers structured notes linked to the Russell 2000® Index, the Nasdaq-100 Technology Sector Index and the VanEck Semiconductor ETF. The notes mature on February 11, 2032 unless automatically called on monthly observation dates beginning August 2026. If, on any coupon observation date, the closing level of each underlier is at least 75% of its initial level the notes pay a coupon of $13.50 per $1,000 (1.35% monthly, up to 16.2% per annum). Automatic call occurs if on any call observation date each underlier is at or above its initial level; called notes pay face amount plus then-due coupon. At maturity, if not called, the cash settlement depends on the lesser performing underlier: full face amount if each final level ≥75% of initial, no coupon but return of principal if final levels are between 60% and 75% for any underlier, and a proportionate principal loss if any final level <60% (i.e., you could receive less than 60% of face and lose a substantial portion of principal). The initial issue price is 100% of face, underwriting discount 0.5%, and the pricing agent’s estimated value on the trade date is approximately $981 per $1,000. Payments are obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc.; holders bear issuer and guarantor credit risk.

GS Finance Corp. offers notes with an aggregate face amount of $1,000,000, fully guaranteed by The Goldman Sachs Group, Inc.

The notes are linked to the EURO STOXX 50® Index with an upside participation rate of 125%, a buffer level of 85% and a buffer rate of approximately 117.65%. The notes pay no interest, may be automatically called on the call observation date if the closing level is ≥ the initial level, and mature on February 10, 2028 (determination date February 7, 2028).

The call payment, cash settlement at maturity and potential losses are formulaic: an automatic call yields $1,126.90 per $1,000 face amount on the call payment date; if not called, the maturity payment depends on the final underlier level and may result in substantial or complete loss of principal.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the iShares Bitcoin Trust ETF, Tesla stock and Apple stock. The notes pay a monthly contingent coupon of at least $17.625 per $1,000 when all underliers are at or above 50% of their initial levels.

Starting in February 2027, the notes are automatically called if on a quarterly observation date each underlier is at or above its initial level, returning principal plus that period’s coupon. If held to maturity and the worst underlier is at or above 50% of its initial level, investors receive principal plus the final coupon.

If at maturity the worst underlier is below 50% of its initial level, repayment is reduced one-for-one with that underlier’s decline, potentially to zero, and no coupon is paid. The estimated value on the trade date is expected between $925 and $955 per $1,000, and the structure embeds significant risk from bitcoin’s high volatility.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering underlier-linked notes due 2030 tied to the EURO STOXX 50 Index and the iShares® MSCI EAFE ETF. These notes do not pay interest and are unsecured obligations subject to issuer and guarantor credit risk.

At maturity, investors receive $1,000 per note plus 206.3% of the lesser performing underlier’s gain if both underliers finish above their initial levels. If either underlier falls but stays at or above 85% of its initial level, investors receive only the $1,000 face amount. If any underlier ends below 85%, principal is reduced 1% for each 1% decline beyond this 15% buffer, so investors may lose a substantial portion of their investment.

The document highlights that the notes’ estimated value on the trade date is lower than the issue price, secondary market prices may be volatile and discounted, and the notes carry additional risks from foreign equity markets, currency movements and uncertain U.S. tax treatment, including potential constructive ownership recharacterization.

GS Finance Corp. is issuing $589,000 of index-linked notes, guaranteed by The Goldman Sachs Group, Inc., tied to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest and mature on February 10, 2033, with automatic call features starting in February 2027.

For each $1,000 face amount, investors receive the face amount if the final index level is below 101% of the 113.43 initial index level, and a maximum of $1,770 (a 77% capped return) if it is at or above 101%. If the index reaches at least 101% on a call observation date, the notes are redeemed early at $1,000 plus a fixed call return of 11% to 71.5%, depending on call timing.

The index uses daily rebalancing, volatility control and momentum filters, and applies an annual deduction of 0.65% plus an excess-return structure over the federal funds rate, meaning cash and money market allocations can drag performance. The original issue price is 100% of face, with a 0.75% underwriting discount and an estimated value of about $950 per $1,000 at pricing, highlighting structural and fee-related costs and credit risk of both the issuer and guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to Arista Networks, Freeport-McMoRan and NVIDIA stock. The notes pay monthly contingent coupons of 1.25% (up to 15% per year) only when each stock closes at or above 60% of its initial price.

The notes may be automatically called from February 2027 through January 2029 if each stock is at or above its initial price, returning principal plus the applicable coupon. If not called, the notes mature on February 13, 2029, with principal protection depending on stock performance.

If on the final observation date all three stocks are below their initial prices and any is below 60% of its initial price, repayment is reduced based on the worst-performing stock and can result in a substantial or total loss of principal and no coupon. The aggregate face amount is $2,700,000, original issue price is 100% of face, underwriting discount is 3.25%, and net proceeds to the issuer are 96.75% of face. The estimated value at pricing is approximately $944 per $1,000 note.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering equity-linked notes tied to an equally weighted basket of eight large software and cybersecurity stocks, maturing on February 10, 2028. The notes pay no interest and have an aggregate face amount of $2,700,000 at issuance.

The basket starts at 100, with each stock weighted 12.5%. If on the February 19, 2027 call observation date the basket level is at or above 100, the notes are automatically redeemed for $1,155.2 per $1,000 face amount. Otherwise, at maturity holders receive: enhanced upside with a 125% participation rate if the basket is above 100; full principal back if the basket decline is up to 15%; or a buffered loss using a buffer rate of approximately 117.65% for larger declines, which can result in substantial or total loss of principal.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date is approximately $935 per $1,000 face amount, versus a 100% issue price, reflecting structuring and distribution costs and dealer margins.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes linked to the S&P 500® Futures Excess Return Index maturing on February 11, 2031. For each $1,000 face amount, the cash payment at maturity depends on the final underlier level versus the initial level: upside participation is 186% if the final level is higher; investors receive the face amount if the final level is between the initial level and the 50% trigger buffer; if the final level is below the trigger buffer, losses scale 1:1 with the underlier decline (you could lose your entire investment). The trade date is February 6, 2026 and the aggregate face amount shown is $2,981,000. Notes do not bear interest and carry issuer/guarantor credit risk.

GS Finance Corp. offers principal-protected contingent coupon notes linked to the common stock of Advanced Micro Devices, Inc., Broadcom Inc. and Micron Technology, Inc. that mature on February 13, 2029, and are guaranteed by The Goldman Sachs Group, Inc.

Coupons are paid monthly only if the closing price of each index stock on an observation date is at least 60% of its initial price; notes are automatically called on a call observation date commencing in February 2027 if each index stock is at or above its initial price. At maturity, if a trigger event (each index stock below its initial price on the February 6, 2029 determination date) has occurred, the cash settlement depends on the performance of the lesser performing index stock and could be substantially below face amount. The prospectus shows an estimated model value of approximately $935 per $1,000 face amount, an original issue price of 100%, an underwriting discount of 3.25%, net proceeds of 96.75%, and an aggregate initial face amount of $459,000.

GS Finance Corp. priced and issued Market Linked Securities—Auto-Callable with Contingent Coupon (face amount $1,000 per security) linked to the lowest performing common stock of Elevance Health, The Cigna Group and UnitedHealth Group, maturing February 9, 2029. The securities pay a quarterly contingent coupon of $43.25 per $1,000 (17.30% pa) only if the lowest performing underlying stock on a calculation day is at or above a 70% coupon threshold; unpaid coupons may be paid later if threshold is met on a subsequent calculation day. The securities are auto-callable on quarterly call dates from August 2026 through November 2028 if the lowest performing underlying stock is at or above its starting price, in which case holders receive face amount plus final and any unpaid contingent coupons. If not called, maturity cash depends solely on the ending price of the lowest performing underlying stock and will equal $1,000 if that stock is at or above 70% of its starting price; if below 70%, investors suffer proportional principal loss 30% or total loss). Payments are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc.; estimated value at pricing was approximately $961 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon equity-linked notes due February 23, 2029, tied to the common stock of NVIDIA Corporation. Investors receive monthly coupons of up to $13.209 per $1,000 per observation period only if NVIDIA’s share price on the related observation date is at or above 60% of the initial level, which also serves as both the coupon trigger and principal protection buffer.

The notes are automatically called at par, plus any due coupon, if on any call observation date NVIDIA’s share price is at or above the initial level, which can shorten the investment term. If the notes are not called and NVIDIA’s final level on the determination date is below the 60% trigger buffer, repayment of principal falls one-for-one with the stock’s decline, and investors can lose their entire investment. The notes carry the credit risk of both GS Finance Corp. and its parent guarantor, and the estimated value at pricing is lower than the original issue price due to underwriting discounts, a structuring fee and issuance costs. U.S. tax treatment is uncertain and relies on a prepaid derivative contract characterization.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering digital equity-linked notes due 2027 tied to the common stock of Salesforce, Inc. Holders receive a cash payment at maturity based on Salesforce’s performance from the trade date to the determination date.

For each $1,000 note, if the final underlier level is at or above 70% of the initial level, investors receive a capped maximum settlement amount of $1,242. If it is below 70%, repayment falls one-for-one with the stock’s decline, down to total loss of principal. The notes pay no interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent guarantor, may trade at a discount to issue price, and carry complex valuation, liquidity and tax risks.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering unsecured, Alphabet Class A stock-linked notes that pay no interest and provide equity-like exposure with defined payoff terms.

The notes may be automatically called on a February 2027 observation date if Alphabet’s closing price is at or above the initial price, paying at least $1,186 per $1,000 face amount. If not called, they mature in February 2028 with a minimum maturity payout of $1,372 per $1,000 if Alphabet’s final price is at or above the initial level, full principal return if the stock has fallen by up to 15%, and leveraged losses of about 1.1765% for every 1% decline beyond that buffer.

The estimated value on the trade date is expected between $900 and $930 per $1,000 face amount, and investors bear full credit risk of GS Finance Corp. and the guarantor as well as the possibility of losing their entire investment.

GS Finance Corp. is offering unsecured notes maturing in February 2031, guaranteed by The Goldman Sachs Group, Inc., whose payments depend on the Dow Jones Industrial Average®, the S&P 500® Index and the State Street® Energy Select Sector SPDR® ETF.

The notes pay a contingent monthly coupon of $7.25 per $1,000 (0.725%, up to 8.7% per year) only if on each observation date all three underliers are at or above 70% of their initial levels; otherwise no coupon is paid. Goldman may redeem the notes at 100% of face amount plus any due coupon on monthly payment dates from February 2027 through January 2031.

If not redeemed, at maturity investors receive $1,000 plus the final coupon only if each underlier is at or above 70% of its initial level. If any underlier is below that threshold, repayment is reduced in line with the worst-performing underlier, and investors can lose up to their entire principal. The notes do not pay dividends, are subject to the credit risk of the issuer and guarantor, carry an estimated initial value of $885–$925 per $1,000, and involve complex tax and market risks.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $15,338,000 of Contingent Income Auto-Callable Securities linked to NVIDIA Corporation common stock, maturing February 9, 2029.

The notes pay contingent quarterly coupons only if NVDA’s closing price on each observation date is at or above a downside threshold of $92.705, which is 50.00% of the $185.41 initial share price. If NVDA is at or above the initial share price on a call observation date, the notes are automatically redeemed at $1,000 per $1,000 plus the due coupon.

If the securities are not called and NVDA’s final share price is below the downside threshold, repayment is $1,000 multiplied by the share performance factor, so principal losses mirror NVDA’s decline below 50% and can reach 100%. The estimated value is approximately $967 per $1,000, the notes are unsecured, not listed, and subject to issuer and guarantor credit risk, complex tax treatment and limited or no secondary market.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due February 26, 2046 as part of its Medium-Term Notes, Series N program. The notes pay interest at 5.25% per annum, starting on February 24, 2027 and then each February 24 until maturity.

The notes are issued in minimum denominations of $1,000, will not be listed on any securities exchange, and use a 30/360 (ISDA) day count convention. They may be issued with original issue discount, are subject to FATCA withholding rules, and include full and covenant defeasance provisions.

GS Finance Corp. is offering floating rate notes guaranteed by The Goldman Sachs Group, Inc. that are expected to issue on February 18, 2026 and mature on February 18, 2033. Interest will accrue quarterly at compounded SOFR plus a spread of 0.95%, subject to a minimum interest rate of 0.50%, with expected interest payment dates on February 18, May 18, August 18 and November 18, beginning May 18, 2026. The notes will be issued in $1,000 denominations, will not be listed, are unsecured, and are subject to the credit risk of the issuer and guarantor. The calculation agent, Goldman Sachs & Co. LLC, will determine compounded SOFR and certain benchmark‑replacement determinations in its discretion.