Goldman Sachs Group Inc. 424B Filings

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $211,000 of leveraged notes linked to the Nasdaq-100 Futures Excess Return™ Index, maturing August 5, 2032. The notes pay no interest and repay principal based solely on index performance between July 31, 2026 and August 2, 2032.

For each $1,000, investors receive: (1) if the index return is positive, $1,000 plus 191% of the index gain; (2) if the index return is between 0% and -40%, $1,000; (3) if the index return is below -40%, $1,000 plus the full index return, exposing investors to losses up to a 100% loss of principal. The initial index level is 742.0093 and the trigger buffer level is 60% of that. The estimated value at pricing is about $909 per $1,000 face amount, below the 100% issue price, reflecting underwriting discounts of 3.25% (including a 0.75% structuring fee) and other costs. Payments are subject to the unsecured credit of GS Finance Corp. and the guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Leveraged Buffered S&P 500 Futures Excess Return Index-Linked Notes due 2029 under its Medium-Term Notes, Series F program. The notes are linked to the S&P 500 Futures Excess Return Index, which tracks E-mini S&P 500 futures rather than the cash S&P 500 Index.

At maturity on August 10, 2029, investors receive cash based on index performance: a 143% upside participation if the index is at or above its initial level; a positive one-for-one payoff when the index is down but not below the 80% buffer level; and losses beyond a 20% decline, with principal reduced in line with further index losses. The notes pay no interest, may return significantly less than face amount, and are subject to the credit risk of GS Finance Corp. and its parent. Pricing relies on GS&Co. models, with initial estimated value below issue price and uncertain secondary market liquidity. Futures-specific risks such as financing costs, negative roll yield and potential divergence from the reference S&P 500 Index also apply.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering structured Medium-Term Notes, Series F linked to the Russell 2000 Index and the S&P 500 Index, with an aggregate face amount of $1,642,000. Each note has a $1,000 face amount, a trade date of July 31, 2026, and matures on August 3, 2028, after a July 31, 2028 determination date.

Payment at maturity depends solely on the lesser performing underlier. If the final level of each index is at least its initial level (2,931.339 for Russell 2000 and 7,489.72 for S&P 500), investors receive a maximum settlement amount of $1,142.50 per $1,000 note (114.25% of face). If either index finishes below its initial level, investors receive only the face amount. The notes pay no interest and do not provide dividends or voting rights in the underlying stocks.

The original issue price is 100% of face, with a 1% underwriting discount and 99% net proceeds to the issuer. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on an exchange, and may trade at prices affected by market factors and dealer spreads. For U.S. tax purposes they are treated as contingent payment debt instruments, using a comparable yield of 4.8267% per annum and a projected maturity payment of $1,101.38 per $1,000, causing taxable income over the term even though no payments are made until maturity.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing Nasdaq‑100 Index®‑linked Medium‑Term Notes, Series F, with an aggregate face amount of $1,821,000. The notes are auto‑callable: if on the call observation date the Nasdaq‑100 closing level is at or above the initial underlier level of 28,274.20, investors receive $1,130 per $1,000 face amount on the call payment date and the notes terminate early.

If not called, the cash settlement at maturity depends on index performance. For each $1,000 face amount, investors receive: (i) $1,000 + 125% of any positive underlier return if the final level exceeds the initial level; (ii) $1,000 if the final level is between the 85% buffer level and the initial level; or (iii) a buffered loss using a 15% buffer and 100% downside participation below the buffer. The notes do not bear interest, can lose a substantial portion of principal (e.g., a 21% final level yields only 36% of face amount), are subject to the credit risk of GS Finance Corp. and its parent, may trade below issue price, are not listed on any exchange, and involve uncertain U.S. tax treatment as a pre‑paid derivative contract.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-protected, index-linked notes under its Medium-Term Notes, Series F program with an aggregate face amount of $1,533,000. The notes are linked to the Goldman Sachs Momentum Builder® Focus ER Index, a rules-based multi-asset index that uses daily rebalancing, a 5% volatility control and a momentum risk control feature, and is calculated on an excess return basis with a 0.65% per annum deduction.

The notes may be automatically called on semi-annual observation dates if the index is at or above the initial level of 113.45, paying for each $1,000 face amount $1,000 plus a call premium that steps from 9.00% up to 49.50%. If not called, at maturity on August 9, 2032 investors receive for each $1,000 either $1,000 + 54% if the index is at or above the initial level, or $1,000 if it is below, so downside is limited to return of principal subject to issuer and guarantor credit risk.

The original issue price is 100% of face amount, with a 0.25% underwriting discount and 99.75% net proceeds to the issuer. Goldman Sachs estimates the value at trade date at $939 per $1,000, below issue price, with a disclosed “additional amount” of $59.501 amortizing to zero by August 8, 2027. The notes pay no periodic interest, have capped upside, may be illiquid, and are treated as contingent payment debt instruments for U.S. tax purposes, with a comparable yield of 5.345% and a projected maturity payment of $1,379.07 per $1,000 for tax accruals.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $7,498,000 of Market-Linked Notes tied to the S&P 500® Index, maturing August 4, 2032. The notes do not bear interest and return principal at maturity, subject to issuer and guarantor credit risk.

For each $1,000 note, investors receive at maturity either $1,000 if the index is flat or down, or $1,000 plus a supplemental payment equal to 100% of the index gain, capped at a maximum payment of $1,591.50 (159.15% of principal). The initial index value is 7,489.72; the final index value is the S&P 500 closing level on July 30, 2032.

The original issue price is 100% of principal, including a 3.50% underwriting discount, resulting in net proceeds of $7,235,570. The notes are not listed on any exchange, and Goldman Sachs & Co. LLC estimates the initial value at approximately $950 per $1,000 note, reflecting structuring and distribution costs. For U.S. tax purposes, the notes are treated as contingent payment debt instruments with a comparable yield of 5.3362% and a projected maturity payment of $1,377.75 per $1,000.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering $4,000,000 aggregate face amount of Medium-Term Notes, Series F linked to the Class A common stock of Strategy Inc. Each note has a $1,000 face amount and pays no interest.

At maturity on August 3, 2029, the cash payment per $1,000 depends on the stock’s performance from a $93.28 initial level. If the final level is above the initial level, investors receive $1,000 plus 500% of the underlier return, capped at a maximum settlement amount of $3,600. If the final level is between 50% and 100% of the initial level, investors receive back the $1,000 face amount.

If the final level falls below 50% of the initial level, repayment is $1,000 plus $1,000 times the underlier return, producing a one-for-one loss beyond the 50% buffer and up to a total loss of principal. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, may have limited secondary liquidity, and have an estimated value on the trade date that is less than the original issue price. Tax treatment is uncertain and expected to follow a pre-paid derivative contract approach.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F linked to the Russell 2000® Index. The notes have a 10% downside buffer, a 200% upside participation rate, and a maximum settlement amount of $1,302.50 per $1,000 face amount, maturing August 3, 2028.

The notes pay no interest. At maturity, investors receive enhanced upside participation in index gains up to the cap, full principal repayment if the index does not fall more than 10%, and 1-for-1 loss below the buffer level, exposing them to substantial principal loss. Investors bear the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., face uncertain secondary market liquidity, and encounter uncertain U.S. tax treatment, with the notes intended to be treated as pre-paid derivative contracts.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $1,356,000 aggregate face amount of leveraged callable notes linked to the S&P 500® Futures Excess Return Index. The notes pay no interest, are issued at 100% of face, and are scheduled to mature on August 5, 2031, unless redeemed early.

The issuer may redeem the notes in whole on monthly call payment dates starting August 5, 2027, at 100% of face plus a call premium that steps up from 20.0004% to 98.3353% of face through July 3, 2031. If not redeemed, the maturity payment per $1,000 depends on index performance from the trade date July 31, 2026 (initial level 598.42) to the determination date July 31, 2031. If the final level is at or above the initial level, the payoff equals $1,000 plus 235.5% of the index gain. If the final level is between 60% and 100% of the initial level, the payoff adds the absolute index return, providing positive return on moderate declines. Below 60%, investors participate fully in losses and can lose up to their entire investment.

The notes’ estimated value on the trade date is about $965 per $1,000 face amount, below issue price, reflecting structuring and distribution costs. Payments are subject to the unsecured credit of GS Finance Corp. and the guarantee of The Goldman Sachs Group, Inc., and the product carries complex market, liquidity, early call, futures-roll and tax risks.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500®-linked medium-term notes with an aggregate face amount of $500,000. Each note has a $1,000 face amount and does not bear interest.

At maturity, the cash payment per $1,000 depends on the S&P 500® Index performance from the initial underlier level of 7,437.63 (set July 30, 2026) to the determination date. If the index is above the initial level, the payoff equals $1,000 plus the index return, capped at a maximum settlement amount of $1,246. If the index is at or above the 80% buffer level, investors receive $1,000. Below the buffer, principal is reduced 1% for each 1% drop beneath the buffer, and investors can lose a substantial portion of principal.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, are not listed on any exchange, may have limited or no secondary market liquidity, and have an estimated value at pricing that is less than the original issue price. U.S. tax treatment is uncertain; the issuer and its counsel view the notes as a pre-paid derivative contract for tax purposes, and FATCA and section 871(m) may apply.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing $1,971,000 of structured notes linked to the common stock of Microsoft Corporation. The notes have a face amount of $1,000 each, an initial underlier level of $464.72 and an upside participation rate of 100%.

The notes may be automatically called on August 5, 2027 if the Microsoft stock closing level on the August 2, 2027 call observation date is at or above the initial level, in which case investors receive 120.0004% of face value, or $1,200.004 per $1,000 note. If not called, payment at maturity on August 3, 2029 depends on the final underlier level. A trigger buffer level at 57.75% of the initial level provides full principal repayment if the final level is at or above that threshold, but investors participate one-for-one in downside below it and may lose their entire investment. The notes pay no interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable, index-linked notes maturing on August 5, 2031. The notes pay no interest and have a face amount of $1,000 each, with an initial aggregate issuance of $1,505,000.

The notes are linked to the S&P 500 Index, the iShares Expanded Tech-Software Sector ETF and the State Street Utilities Select Sector SPDR ETF. They may be automatically called on November 2, 2026 if each underlier is at least 90% of its initial level, triggering a call payment of $1,100 per $1,000 on November 5, 2026.

If not called, the maturity payoff depends on the lesser performing underlier. If its final level is above its initial level, investors participate 100% in that gain. If any underlier finishes at or below its initial level but at or above 70%, investors receive principal only. Below 70%, principal is reduced at a buffer rate of about 142.86% of losses beyond the 30% buffer, and investors can lose their entire investment. The estimated value on the trade date is about $970 per $1,000 face amount, reflecting structuring and distribution costs, and repayment is subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing S&P 500® Index-linked buffered notes under its Medium-Term Notes, Series F program with an aggregate face amount of $821,000. Each note has a $1,000 face amount, an original issue price of 100% of face and a stated maturity date of August 3, 2028.

The notes offer 200% upside participation in the S&P 500® return from the trade date to July 31, 2028, subject to a maximum settlement amount of $1,220 per $1,000 note (22% maximum gain). Principal is protected only by a 10% buffer: if the index decline at maturity exceeds 10% (final level below 90% of the initial level of 7,489.72), investors lose 1% of principal for every 1% drop below the buffer level, and may lose a substantial portion of their investment.

The notes do not bear interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent guarantor, may trade at a discount to face value, and involve uncertain U.S. tax treatment, which counsel currently views as a pre-paid derivative contract on the index.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers $250,000 of index-linked notes tied to the Goldman Sachs Momentum Builder Focus ER Index. The notes are issued at 100% of face amount with a 1% underwriting discount and 99% net proceeds to the issuer.

The notes may be automatically called semi-annually from August 2027 if the index closes at or above the 113.45 initial level, paying $1,000 plus a call premium starting at 10% and rising to 65%. If never called, at the August 4, 2033 maturity you receive $1,000 plus a 70% maturity premium if the final index level is at or above the initial; otherwise you receive only the face amount.

The index uses daily rebalancing, volatility and momentum risk controls, cash allocations and a 0.65% per annum deduction on an excess-return basis, which can significantly dampen index gains. The estimated value is $939 per $1,000 on the trade date, below the issue price, and U.S. holders are taxed under contingent payment debt instrument rules based on a 5.4413% comparable yield with projected maturity payment of $1,463.90.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing S&P 500® Index-linked Medium-Term Notes, Series F, with an aggregate face amount of $4,635,000. The notes pay no interest and return depends on the S&P 500® performance from July 31, 2026 to July 31, 2028.

At maturity, for each $1,000 note, investors receive: the face amount if the index decline does not exceed a 10% buffer (buffer level 90% of the initial index level 7,489.72); a leveraged gain of 200% of the index return when the index rises, but capped at a maximum settlement amount of $1,250; or a loss of principal on a 1:1 basis for index declines beyond the buffer, down to as little as 10% of face in extreme scenarios. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, may have limited or no secondary market, and their estimated value at issuance is less than the 100% original issue price (underwriting discount 0.3%, net proceeds 99.7%). Tax treatment is uncertain and based on a pre-paid derivative contract characterization.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable notes linked to the iShares Semiconductor ETF (SOXX) maturing on a stated date expected to be August 18, 2031. The notes pay no interest and may be automatically called starting in August 2027 if the ETF’s closing level is at or above the initial level on specified call observation dates, in which case holders receive $1,000 plus a call premium.

If not called, the maturity payment per $1,000 face amount depends on ETF performance from the expected trade date of August 13, 2026 to the determination date. If the final level is at or above the initial level, investors receive a capped maximum settlement amount of at least $2,025.04. If the ETF has declined but remains at or above 50% of the initial level (the trigger buffer level), investors receive $1,000. If it falls below 50%, principal is reduced one-for-one with the ETF return and investors can lose their entire investment.

The original issue price is 100% of face, with a 3% underwriting discount and 97% net proceeds to the issuer. The estimated value at pricing is only $885–$915 per $1,000, reflecting structuring costs and dealer compensation. Payments are subject to the credit risk of GS Finance Corp. and its guarantor. The notes are treated for U.S. tax purposes as a pre-paid derivative contract, though tax outcomes are uncertain.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon buffered notes linked to the common stock of Eli Lilly and Company. The notes have an aggregate face amount of $1,893,000 and a face amount of $1,000 per note, issued at 100% of face with a 1% underwriting discount.

Holders may receive quarterly contingent coupons of $43.025 per $1,000, payable only if Eli Lilly’s closing level on each observation date is at least the coupon trigger level of 80% of the $1,148.84 initial underlier level. The same 80% level acts as a buffer level; if at maturity the final underlier level is at or above this level, investors receive full principal back (plus any final coupon). If it is below, principal is reduced by a buffer rate of 125% of the decline beyond the 20% buffer, and investors could lose their entire investment.

The notes are subject to an automatic call feature: if the underlier closes at or above the initial level on any call observation date, the notes are redeemed at $1,000 per note plus the coupon then due, ending any further payments. The notes are unsecured obligations exposed to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, may trade below the original issue price, and have complex and uncertain U.S. federal income tax treatment.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering $5,502,000 aggregate face amount of Amazon.com, Inc. common stock-linked notes under its Medium-Term Notes, Series F program. The notes pay a contingent monthly coupon of $9.25 per $1,000 (0.925% monthly, up to 11.10% per annum) on any observation date when the Amazon underlier closes at or above the coupon trigger level, set at 68% of the $271.58 initial underlier level. The notes are subject to an automatic call on specified call observation dates if the underlier is at or above the initial level, in which case investors receive $1,000 per note plus any due coupon. If the notes are not called, payment at maturity depends on the final underlier level: investors receive full principal back if the final level is at or above the 68% trigger buffer level, but below that level principal is reduced one-for-one with the underlier return, down to a possible 100% loss. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor, will not be listed, may have limited liquidity, and carry complex tax and valuation considerations.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $10,388,300 of Trigger GEARS notes linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), Nikkei 225 (25%), FTSE® 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%). The initial basket level is 100, upside gearing is 1.80, and the downside threshold is 75% of the initial basket level. At maturity in August 2031, investors receive enhanced participation in positive basket performance, return of principal if the basket is at or above the threshold, or a loss matching the basket decline below that level, potentially to zero. The notes pay no interest, are unsecured and subject to the credit risk of GS Finance Corp. and Goldman Sachs, and the estimated value on the trade date is about $9.76 per $10 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering structured notes linked to the Nasdaq‑100 Index, the VanEck Gold Miners ETF and the iShares Silver Trust. The notes have a stated maturity on August 8, 2030, unless earlier redeemed at the issuer’s option at 100% of face amount plus any due coupon, on quarterly coupon payment dates from February 2027 through May 2030.

Each note has a $1,000 face amount. On each quarterly observation date, if the closing level of each underlier is at least 50% of its initial level, investors receive a contingent coupon of $36.125 (3.6125% quarterly, up to 14.45% per year) per $1,000; otherwise the coupon is $0. At maturity, if not redeemed and each underlier is at least 50% of its initial level, investors receive $1,000 plus the final coupon. If any underlier is below 50%, repayment of principal is reduced one‑for‑one with the lesser performing underlier, and investors can lose up to their entire investment with no final coupon.

The notes carry the credit risk of GS Finance Corp. and Goldman Sachs. The estimated value on the trade date is expected to be $900–$930 per $1,000, below the original issue price, reflecting underwriting and structuring costs and model-based pricing.

GS Finance Corp, guaranteed by The Goldman Sachs Group, Inc., is issuing medium-term, market-linked notes due August 2, 2029, tied to the lowest performing of the S&P 500 Index, Russell 2000 Index and State Street Technology Select Sector SPDR ETF. The notes pay a quarterly contingent coupon of $29.50 per $1,000 face amount (11.80% per annum) only if the lowest underlier on each calculation day is at or above 70% of its starting value. From January 2027 through April 2029, if the lowest underlier is at or above its starting value on a call date, the notes are automatically called at par plus that quarter’s coupon. If not called, principal is repaid at maturity only if the lowest underlier on the final calculation day is at or above its 70% downside threshold; otherwise investors have full downside exposure and can lose up to all of principal. The estimated value at pricing is about $973 per $1,000 versus a $1,000 offering price, and the total offering size is $3,809,000. The notes are unsecured obligations subject to the credit risk of GS Finance Corp and its guarantor, pay no dividends, and are not exchange-listed.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering no-interest notes linked to an equally weighted basket of 7 large-cap stocks, with an initial basket level of 100. The notes are expected to trade from an August 7, 2026 trade date to an expected August 10, 2028 maturity, unless automatically called.

The basket uses a 125% upside participation rate. If on the August 20, 2027 call observation date the basket level is at least 100, the notes are automatically redeemed for at least $1,207 per $1,000 face amount on August 25, 2027. If not called, at maturity investors receive: enhanced upside if the basket is above 100; full principal back if the basket is between 80 and 100; and leveraged losses if the basket falls below the 80% buffer level, with a 125% buffer rate applied to losses beyond the 20% buffer.

The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and do not pay interest or dividends on the underlying stocks. The estimated value on the trade date is between $900 and $930 per $1,000 face amount, reflecting embedded fees and hedging costs. Liquidity is not assured, and market value will depend on basket performance, volatility, interest rates, and issuer and guarantor credit quality.

GS Finance Corp. is issuing medium-term notes linked to the S&P 500® Futures Excess Return Index, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The aggregate face amount is $1,881,000 and the notes are issued at 100% of face value.

At maturity, for each $1,000 note, investors receive: $1,000 plus 220% of the positive underlier return if the final underlier level exceeds the initial level; the full $1,000 if the final level is at or above the 70% trigger buffer level; or $1,000 plus the underlier return (one-for-one loss) if the final level falls below 70% of the initial level, which can result in a total loss of principal. The notes pay no interest and their value and repayment depend on both index performance and the credit of GS Finance Corp. and its parent guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing $3,835,000 of equity-linked medium-term notes tied to the Russell 2000 Index and the S&P 500 Index. The notes pay no interest and may be automatically called on August 12, 2027 if, on the August 9, 2027 call observation date, each index is at or above its initial level. In that case, investors receive $1,153 per $1,000 face amount (115.3% of face) and the notes terminate early.

If not called, the notes mature on August 3, 2029. At maturity, the cash payment per $1,000 depends on the lesser performing index. If both final index levels exceed their initial levels, investors receive $1,000 plus 125% of the lesser index gain. If the lesser index ends between its 80% buffer level and its initial level, investors receive full principal. If the lesser index finishes below 80% of its initial level, principal is reduced one-for-one with the loss beyond the 20% buffer, which can lead to a substantial loss of invested amount.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent guarantor. The estimated initial value is less than the issue price due to structuring fees and other costs, and secondary market liquidity and pricing are uncertain. U.S. federal income tax treatment is uncertain, with Goldman and its counsel treating the notes as a pre-paid derivative contract for tax purposes.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering $887,000 of Medium-Term Notes, Series F, whose payment at maturity is linked to the S&P 500 Futures Excess Return Index. The notes pay no interest and are repaid in cash at maturity based on index performance from the trade date to the determination date.

If the final index level is above the initial level of 598.42, the payoff equals principal plus 212.5% of the index gain. If the final level is at or below the initial level, investors lose 1% of principal for each 1% index decline, down to a total loss of principal. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, may have limited secondary market liquidity, and their estimated value at pricing is less than the 100% issue price due to dealer compensation, hedging and structuring costs.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $624,000 aggregate face amount of callable S&P 500® Index-linked notes due August 6, 2031. The notes are issued at 100% of face amount, with an underwriting discount of 1.125%, resulting in net proceeds of 98.875% of face.

The notes pay no interest and may be redeemed at the issuer’s option on monthly call payment dates from August 2027 to July 2031 at $1,000 plus a call premium per $1,000, with call premiums starting at 13.0008% and rising to 63.9206%. If not redeemed, the maturity payoff depends on S&P 500® performance from the initial underlier level of 7,489.72 to the determination date. Gains are leveraged at a 150% upside participation rate. A 15% buffer protects against moderate declines, but if the index falls below 85% of the initial level, investors lose principal on a 1:1 basis beyond the buffer and can lose a substantial portion of their investment. The estimated value at pricing is approximately $978 per $1,000 face, below issue price, and payments are subject to the credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500 Futures Excess Return Index-linked notes with an aggregate face amount of $950,000 under its Medium-Term Notes, Series F program. For each $1,000 note held to maturity, if the final underlier level exceeds the initial level of 598.42, the payoff equals $1,000 plus 141% of the index gain. If the index is flat or down by up to the 20% buffer (to the 80% buffer level), investors receive only the $1,000 face amount. Below the buffer level, principal is reduced 1% for each 1% additional decline, with examples showing a final level at 20% of the initial producing only 40% of face, and 0% producing 20% of face. The notes bear no interest, are subject to the credit risk of GS Finance Corp. and the guarantor, may trade below face before maturity, and are not equivalent to owning S&P 500 stocks or futures directly.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering $7,075,000 of Medium-Term Notes, Series F, whose return is linked to the Class A common stock of Meta Platforms, Inc. The notes pay a contingent monthly coupon of $9.417 per $1,000 face amount (0.9417% monthly, up to about 11.30% per annum) only if the Meta share price on the relevant observation date is at or above the coupon trigger level, set at 58% of the $556.71 initial underlier level.

The notes are subject to an automatic call on scheduled call dates from February 2027 through August 2027 if Meta’s closing level is at or above the initial level; in that case, investors receive $1,000 per note plus any due coupon, ending the investment early. If the notes are not called, and the final Meta level on the August 31, 2027 determination date is at or above the 58% trigger buffer level, investors receive full principal back; if it is below that level, principal is reduced one-for-one with the underlier return, and investors could lose their entire investment.

The original issue price is 100% of face, with a 2.15% underwriting discount and 97.85% net proceeds to the issuer. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on an exchange, may have limited or no secondary market, and have an estimated value at pricing that is less than the issue price. The U.S. federal income tax treatment is uncertain and relies on an income-bearing pre-paid derivative contract characterization.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes due September 3, 2027 with a total face amount of $443,000. The notes pay no interest and the cash payment at maturity depends on the lesser performing of the Russell 2000® Index and the S&P 500® Index between the July 31, 2026 trade date and the August 31, 2027 determination date.

If both index returns are zero or positive, investors receive $1,000 plus the lesser performing index return (upside participation 100%) per $1,000 note. If any index is negative but both remain at or above 90% of their initial level (a 10% buffer), investors receive the absolute value of the lesser loss, turning modest index declines into gains. If any index finishes below 90% of its initial level, the return becomes negative and equals the lesser performing index return plus 10%, so losses beyond the 10% buffer translate into principal loss; up to a substantial portion of capital can be lost.

The original issue price is 100% of face amount, with a 0.8% underwriting discount and net proceeds of 99.2% to the issuer. The initial estimated value is approximately $987 per $1,000, reflecting structuring and distribution costs. Payments are subject to the unsecured credit risk of GS Finance Corp. and its parent guarantor.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500 Index-linked Medium-Term Notes, Series F, with an aggregate face amount of $175,000. Each note has a $1,000 face amount and pays no interest.

At maturity on February 5, 2032, holders receive for each $1,000 the greater of $1,000 or $1,000 plus the S&P 500 underlier return, capped at a maximum settlement amount of $1,560. The initial underlier level is 7,489.72. Principal is protected at maturity but payments depend on the issuer’s and guarantor’s credit.

The original issue price is 100% of face, with a 2% underwriting discount plus up to 0.55% structuring fee. The notes are treated as contingent payment debt instruments for U.S. tax purposes, using a comparable yield of 5.2925% per annum and a projected maturity payment of $1,338.57 per $1,000. The notes are not listed, and any secondary market will be limited and may price below face.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F with an aggregate face amount of $1,656,000 linked to the common stock of NVIDIA Corporation. The notes pay a contingent monthly coupon: for each $1,000 face amount, a coupon accrues at $9.584 per observation date only if the underlier’s closing level is at or above the coupon trigger level, set at 75% of the initial underlier level of $200.75.

The notes are subject to an automatic call if NVIDIA’s closing level on any call observation date is at or above the initial level; in that case, investors receive $1,000 per note plus the due coupon, ending the investment early. At maturity, if not called, investors receive $1,000 per note if the final underlier level is at or above the 75% buffer level; below this, principal is reduced linearly with a 25% buffer, and investors may lose a substantial portion of principal. Upside is capped at return of face amount plus coupons, even if NVIDIA doubles.

The original issue price is 100% of face, with a 0.65% underwriting discount and 99.35% net proceeds to the issuer. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, are not listed on any exchange, and may have limited secondary market liquidity. Tax treatment is uncertain; Sidley Austin LLP views the notes as income-bearing prepaid derivative contracts for U.S. federal income tax purposes.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $19,876,000 of Trigger Autocallable GEARS linked to the S&P MidCap 400 Index, maturing in 2029, in $10 denominations with a $1,000 minimum purchase. The notes can be automatically called on August 9, 2027 if the index is at or above 100% of its initial level, paying $10 plus a 12.30% call return per $10. If not called, at maturity investors receive $10 plus 1.50 times any positive index return, $10 if the index is between 70% and 100% of its initial level, or participate one-for-one in any decline below 70%, potentially losing their entire investment. The initial index level is 3,758.64, downside threshold is 70% of that level, and the estimated value on the trade date is $9.84 per $10 face amount. Payments depend entirely on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc. and the notes pay no coupons.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing medium-term notes linked to the S&P 500^® Futures Excess Return Index with an aggregate face amount of $2,334,000. For each $1,000 note held to maturity on August 5, 2031, investors receive a cash amount based on index performance from the July 31, 2026 trade date to the determination date.

If the final underlier level exceeds the initial level of 598.42, the payoff is $1,000 plus 176% of the index gain. If the final level is at or above the 70% buffer level, investors receive full principal back. Below the buffer, principal is reduced 1-for-1 with index losses beyond the 30% buffer, so holders can lose a substantial portion of principal, as illustrated by a hypothetical 48% repayment if the index finishes at 18% of its initial level. The notes pay no interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, and their secondary-market value may be lower than issue price due to an initial estimated value below par, underwriting discount, market factors, and the futures-based underlier structure, including potential negative roll yield.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked Medium-Term Notes, Series F with an aggregate face amount of $931,000. The notes are linked to the Goldman Sachs Momentum Builder Focus ER Index, which dynamically reallocates among equity, fixed income, commodity and cash-equivalent exposures, subject to a 5% volatility control, a momentum risk control and an annual deduction of 0.65%.

The notes feature an automatic annual call: if on a call observation date the index is at or above the rising call level, investors receive $1,000 plus a fixed call premium (from 14.65% to 87.90% by year six) per $1,000 face amount and the notes terminate. If never called, at maturity investors receive $1,000 plus 100% of any positive index return; if the index return is zero or negative, only the face amount is repaid, with no coupons. The issuer’s estimated value is $926 per $1,000, below the 100% issue price, and the notes are treated as contingent payment debt instruments for U.S. tax purposes, with a comparable yield of 5.4413% and ordinary-income taxation based on accruals.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F linked to the common stock of FedEx Corporation. The aggregate face amount is $201,000, with each note having a $1,000 face amount and no periodic interest payments.

At maturity on August 3, 2029, investors receive in cash per $1,000 note either the maximum settlement amount of $1,281 if the final FedEx share price on the determination date is at or above the initial level of $307.40, or $1,000 if the final level is below the initial level. Upside is therefore capped at 128.1% of face, while downside to the note’s face amount is protected, subject to the credit risk of GS Finance Corp. and its parent guarantor.

The notes are unsecured, unsubordinated obligations, not listed on any exchange, and may have limited or no secondary market. The original issue price exceeds the modeled estimated value, and the notes are treated as contingent payment debt instruments for U.S. tax purposes, with a 4.9867% comparable yield and a projected maturity payment of $1,161.44 per $1,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing Market Linked Securities due August 2, 2029 linked to the common stock of SoFi Technologies, Inc. Each security has a $1,000 face amount and original offering price.

Investors may receive a quarterly contingent coupon of $76.25 per $1,000 security (a 30.50% annual rate) only if the SoFi stock closing price on the relevant calculation day is at or above a coupon threshold equal to 60% of the $16.31 starting price. Missed coupons can be paid later under a “memory” feature when the threshold is again met.

From January 2027 through April 2029, the notes are auto‑callable if the stock closes at or above the starting price, returning the face amount plus the final and any unpaid coupons. If not called, at maturity investors receive $1,000 only if the final stock price is at or above a downside threshold of 60% of the starting price; otherwise the payoff equals the stock performance factor and investors can lose more than 40% and up to all of principal. Payments depend on the credit of GS Finance Corp. and the guarantee of The Goldman Sachs Group, Inc., and the notes are not listed and are intended to be held to maturity.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering index-linked Medium-Term Notes, Series F with an aggregate face amount of $918,000. The notes are linked to the Goldman Sachs Momentum Builder® Focus ER Index, a rules-based index that dynamically allocates among equity, fixed income, commodity and cash-equivalent exposures, subject to a 5% volatility control and a momentum risk control overlay. The index is calculated on an excess return basis over the federal funds rate and is reduced by a 0.65% per annum deduction, with a substantial portion of the index historically allocated to hypothetical cash positions that effectively earn zero net excess return before this fee.

The notes feature an annual automatic call: on specified observation dates from 2027 to 2032, if the index is at or above rising call levels (from 101% to 106% of the initial level), investors receive $1,000 plus a fixed call premium (from 20.25% to 121.50%) and the notes terminate. If never called, at maturity in 2033 investors receive for each $1,000 the greater of $1,000 or $1,000 plus 100% of any positive index return; there is no downside participation, but the notes pay no periodic interest. The estimated value on the trade date is $932 per $1,000 face amount, lower than the issue price due to fees and structuring costs, and the notes are subject to the credit risk of GS Finance Corp. and the guarantor. For U.S. tax purposes, the notes are expected to be treated as contingent payment debt instruments, requiring accrual of ordinary income based on a comparable yield of 5.45% and a projected maturity payment of $1,465.21 per $1,000.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering EURO STOXX 50® Index-linked notes with an aggregate face amount of $100,000. The notes have an automatic call feature: if, on August 9, 2027, the index closing level is at or above the initial level of 6,358.01, the notes are redeemed on August 12, 2027 for $1,142.50 per $1,000 face amount (114.25% of face), capping return.

If not called, the notes mature on August 5, 2031. At maturity, investors receive a cash amount per $1,000 based on index performance with a 200% upside participation rate on gains and a 15% buffer on losses; below 85% of the initial level, principal is reduced according to the buffer formula and a substantial loss of investment is possible. The notes pay no interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and Goldman Sachs, are not listed on any exchange, and their initial estimated value is less than the 100% issue price due to underwriting discounts, expenses and dealer economics. Tax treatment is uncertain and they are intended to be treated as pre-paid derivative contracts for U.S. federal income tax purposes.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $694,000 of EURO STOXX 50®-linked structured notes under its Medium-Term Notes, Series F program. The notes pay no interest and may be automatically called on August 12, 2027 if the index on the August 9, 2027 call observation date is at or above the initial level of 6,358.01, in which case investors receive $1,160 per $1,000 face amount.

If not called, the August 3, 2029 maturity payoff depends on index performance: 150% participation in upside; full principal back if the final level is between 80% and 100% of the initial level; and a one‑for‑one loss below the 80% trigger buffer, exposing investors to a total loss of principal. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed, and their estimated value at pricing is less than the 100% issue price due to underwriting discounts, a structuring fee and other costs. Tax treatment is uncertain and described as a pre‑paid derivative contract for U.S. federal income tax purposes.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing S&P 500® Index-linked buffered notes under its Medium-Term Notes, Series F program, with an aggregate face amount of $1,403,000. Each note has a $1,000 face amount, no periodic interest, and is paid at maturity based on S&P 500® performance from the trade date to the determination date.

If the final index level exceeds the initial level, investors receive $1,000 plus the index return, capped at a maximum settlement amount of $1,078 per $1,000 note. If the index declines but remains at or above the 70% buffer level (a 30% buffer), investors receive the full face amount. Below the buffer level, principal is exposed 1:1 to further index declines via a 100% buffer rate, with hypothetical outcomes down to 30% of face if the index falls to zero. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, may trade below issue price, are not listed on any exchange, and are treated for U.S. tax purposes as short-term debt instruments with contingent payments.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is issuing S&P 500® Index-linked Medium-Term Notes, Series F, with an aggregate face amount of $1,561,000. Each note has a $1,000 face amount, original issue price of 100% of face, underwriting discount of 0.8% of face, and net proceeds to the issuer of 99.2% of face.

The notes pay no interest. At maturity on August 3, 2028, the cash payment per $1,000 depends on S&P 500® performance from the trade date to the determination date. If the final index level is at or above the trigger buffer level of 85% of the initial level of 7,489.72, investors receive the maximum settlement amount of $1,197.50 per note, regardless of how high the index has risen. If the final level is below the trigger buffer, the payoff is $1,000 plus $1,000 times the underlier return, creating one-for-one exposure to losses from the initial level down to zero and the possibility of losing the entire investment.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as guarantor. They will not be listed on any securities exchange, and GS&Co. may make a market but is not obligated to do so.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is issuing S&P 500®-linked buffered notes under its Medium-Term Notes, Series F program with an aggregate face amount of $1,131,000. The notes are priced at 100% of face, with a 1.125% underwriting discount and net proceeds of 98.875% to the issuer.

Each note has a $1,000 face amount, trade date July 31, 2026, original issue date August 5, 2026, determination date July 31, 2031 and stated maturity date August 5, 2031. The initial S&P 500® Index level is 7,489.72. At maturity, investors receive cash only. If the final index level is above the initial level, the return equals the 100% upside participation rate times the index return. If the index is down but not by more than the 15% buffer amount (buffer level 85% of initial), investors receive their full principal. Below the buffer level, principal is reduced 1% for every 1% decline below the buffer, so a substantial loss of principal is possible.

The notes do not bear interest, are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange and may have limited or no secondary market. The estimated value on the trade date is lower than the issue price, and their tax treatment is uncertain; Sidley Austin LLP opines they may reasonably be treated as pre-paid derivative contracts for U.S. federal income tax purposes.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $5,746,000 of principal-at-risk Lookback Trigger Jump Securities with an auto-call feature linked to the Class A common stock of Palantir Technologies Inc., maturing August 5, 2031.

The initial share price will be the lowest Palantir closing price during an observation period from July 31 to August 31, 2026, capped at $123.06. Securities are automatically called on specified dates if the stock closes at or above this initial share price, paying $1,000 plus a fixed call premium (20.00% to 100.00%) per $1,000 and then terminating.

If not called, at maturity investors receive $1,000 plus a 100.00% maturity premium if the final share price is at or above the downside threshold price of 70.00% of the initial share price. Otherwise, repayment equals $1,000 multiplied by the share performance factor (final/initial share price), which can be less than 70% of principal and as low as zero. The estimated value is $966 per $1,000 security, below the 100% issue price, and investors are exposed to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing Medium-Term Notes, Series F linked to the common stock of Costco Wholesale Corporation. The notes have an aggregate face amount of $730,000, a trade date of July 31, 2026, original issue date of August 5, 2026, determination date of July 31, 2029, and stated maturity date of August 3, 2029.

For each $1,000 note, investors receive at maturity either the maximum settlement amount of $1,255 (125.5% of face) if the final Costco share level is at or above the initial level of $951.89, or $1,000 if it is below. The notes do not bear interest, so downside is limited to zero nominal return but upside is capped regardless of Costco’s appreciation.

The original issue price is 100% of face, with a 0.75% underwriting discount and 99.25% net proceeds to the issuer. The estimated value at pricing is lower than the issue price, and secondary market values may be volatile and below face. The notes are unsecured obligations subject to the credit risk of both GS Finance Corp. and its parent guarantor and are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of income based on a 4.9867% comparable yield and a projected payment of $1,161.44 per $1,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $1,400,000 of Dual Directional Trigger Performance Leveraged Upside Securities (Trigger PLUS) linked to the First Trust Nasdaq Cybersecurity ETF (CIBR), maturing on August 3, 2028. Each note has a $1,000 principal amount, is unsecured, pays no interest and will not be listed on any exchange.

The payoff depends on the ETF’s closing price on July 31, 2028 versus the initial price of $91.83. If the ETF is above the initial price, holders receive principal plus 200% of the ETF gain, capped at a maximum of $1,340 (134% of principal), which is reached if the ETF is at or above 117% of the initial price. If the ETF is at or below the initial price but at or above the trigger price of $73.464 (80% of initial), holders receive principal plus the absolute percentage decline, up to a +20% maximum. If the ETF finishes below the trigger, repayment is $1,000 × (final price / initial price), producing a 1-for-1 loss of principal and potentially a total loss.

The original issue price is 100% of principal with a 2.50% underwriting discount; estimated value is approximately $962 per $1,000 at pricing. Investors forgo ETF dividends, are exposed to GS Finance Corp. and Goldman Sachs credit risk, and the notes’ secondary market value may be volatile and affected by interest rates, ETF volatility and issuer credit spreads.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged basket-linked notes due August 3, 2029 with a $1,000 face amount per note. The notes pay no interest and return depends on an unequally weighted equity basket: S&P 500 Index 40%, TOPIX 40% and EURO STOXX 50 Index 20%, with an initial basket level of 100 measured from July 31, 2026 to July 31, 2029.

At maturity, if the basket return is positive, holders receive $1,000 plus 130% of the basket gain. If the basket return is between 0% and -15%, holders receive the $1,000 face amount. If the basket return is below -15%, principal is reduced one-for-one with the basket return and investors can lose their entire investment. The initial estimated value is about $971 per $1,000, below the issue price, reflecting fees and dealer economics. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor and may have limited or no secondary market liquidity. U.S. tax treatment is described as a pre-paid derivative contract, with uncertainties and potential future law changes noted.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $18,507,000 of Auto-Callable Trigger PLUS notes linked to the EURO STOXX 50® Index, maturing August 5, 2031. The notes pay no interest and are principal-at-risk unsecured obligations.

The notes may be automatically called on August 6, 2027. If on that call observation date the index closing value is at least the initial index value of 6,358.01, investors receive a fixed $1,177.50 per $1,000 note (a 17.75% return) on August 11, 2027, with no further payments.

If not called, the maturity payoff depends on the July 31, 2031 index level. Above the initial index value, investors receive $1,000 plus 150.00% of the index gain. Between 80.00% and 100.00% of the initial level (downside threshold 5,086.408), investors receive $1,000. Below the threshold, repayment is reduced one-for-one with index performance and can be zero.

The original issue price is $1,000 per note, with an underwriting discount of 3.25%; the issuer’s estimated value is about $952 per note. Early secondary market prices will include an additional $48 per $1,000 component that amortizes to zero by August 10, 2027. Investors are exposed to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc., market and volatility risk of the index, and complex tax and regulatory considerations.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500®-linked structured notes under its Medium-Term Notes, Series F program with an aggregate face amount of $9,534,000. Each note has a $1,000 face amount and does not bear interest.

At maturity on August 3, 2028, the cash payment per $1,000 depends on S&P 500 Index performance from the July 31, 2026 trade date to the determination date. Investors participate in upside at a 200% upside participation rate, capped by a maximum settlement amount of $1,230 per $1,000. A 10% buffer (buffer level 90% of the initial index level of 7,489.72) absorbs limited downside; below the buffer, principal is reduced 1% for each 1% index decline beneath the buffer level. The notes are subject to the credit risk of GS Finance Corp. and the guarantor, may have limited or no secondary market, and carry uncertain U.S. tax treatment.

GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is issuing medium-term structured notes linked to the S&P 500® Futures Excess Return Index with an aggregate face amount of $1,935,000. Each note has a $1,000 face amount, a trade date of July 31, 2026, original issue date of August 5, 2026, determination date of July 31, 2029 and stated maturity date of August 3, 2029, subject to adjustment.

At maturity, the cash payment per $1,000 depends on the index performance. If the final underlier level is at or above the initial level (598.42), the payoff is $1,000 plus 139.6% of the index gain. If the index is down but not below the 80% buffer level (a 20% decline), investors receive $1,000 plus the absolute value of the index loss, providing upside from moderate declines. If the index falls below the buffer level, principal is reduced dollar-for-dollar with losses beyond the 20% buffer, based on a 100% buffer rate, and investors can lose a substantial portion of principal.

The notes do not bear interest, are unsecured senior obligations of GS Finance Corp. with a guarantee from The Goldman Sachs Group, Inc., and are subject to their credit risk. The original issue price is 100% of face, with a 0.75% underwriting discount and net proceeds to the issuer of 99.25% of face. The underlier is based on E-mini S&P 500 futures, whose performance can differ from the S&P 500 Index and is affected by financing costs, interest rates and potential negative roll yields, which can reduce returns over time.