Goldman Sachs Group Inc. 424B Filings

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., provides an August 2026 index supplement for medium-term notes and warrants linked to the Nasdaq-100 Technology Sector Index (NDXT). The index tracks equal‑weighted technology companies from the Nasdaq‑100 Index, is USD‑denominated, price‑return only, and has been calculated since February 22, 2006 with a base value of 1,000.

The supplement shows historical performance through August 3, 2026. For that date, annualized returns were 45.06% over 1 year, 26.20% over 3 years, 13.18% over 5 years, and 15.42% since January 4, 2021, with annualized volatility between about 27% and 30%. Comparative data indicate higher recent returns for NDXT than the Nasdaq‑100 and S&P 500 over 1 and 3 years, with more similar performance over longer horizons.

The supplement emphasizes that past performance and volatility are not indicative of future results and highlights multiple risks of investing in securities linked to this index, including credit risk of GS Finance Corp. and The Goldman Sachs Group, index concentration in technology, lack of dividends and shareholder rights, potential differences between underlier moves and note pricing, foreign market exposure for some constituents, and Nasdaq’s broad discretion over index composition and methodology.

Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering autocallable contingent coupon notes linked to the S&P 500 Index, State Street SPDR S&P Regional Banking ETF (KRE) and State Street Energy Select Sector SPDR ETF (XLE), maturing on September 7, 2029 and issued at $1,000 face amount per note. The notes pay a contingent monthly coupon of $11.042 per $1,000 (1.1042% per month, up to about 13.25% per year) only if on each observation date all underliers are at or above 70% of their initial levels; otherwise the coupon is zero. The notes are automatically called if, on any call observation date starting March 2, 2027, all underliers are at or above their initial levels, in which case investors receive $1,000 plus the applicable coupon and the notes terminate early. If not called, at maturity investors receive $1,000 per note if each underlier’s final level is at or above 70% of its initial level, but if any underlier finishes below this trigger buffer, repayment of principal is reduced one-for-one with the lesser performing underlier’s return, and up to 100% of principal can be lost. Payments are subject to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as guarantor, and the estimated value determined by GS&Co.’s pricing models will be lower than the original issue price.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering medium-term notes (Series F) and warrants (Series G) linked to the S&P 500® Daily Risk Control 5% USD Excess Return Index. This index measures the return of a leveraged or deleveraged exposure to the S&P 500® Total Return Index with a 5% volatility target, minus a financing cost of SOFR + 0.02963%.

The index can hold more or less than 100% exposure to the S&P 500® Total Return Index, dynamically adjusting exposure and a hypothetical cash position that earns or pays interest at SOFR + 0.02963%. Since December 20, 2021, both the Excess Return and Risk Control indices have referenced SOFR instead of overnight U.S. dollar LIBOR, so only limited performance history exists under the new rate regime.

As of August 3, 2026, the Excess Return index showed annualized returns of 5.26% over 1 year and 3.30% since January 4, 2021, with annualized volatility around 5%. Over the same periods, the S&P 500® Total Return Index returned 23.31% (1 year) and 15.42% (since January 4, 2021), illustrating the trade-off between risk control and upside capture. Investments in the linked securities carry credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., do not pay dividends on index stocks, and are not insured by the FDIC or any government agency.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering Medium-Term Notes, Series F that are equity index-linked "Market Linked Securities" guaranteed by The Goldman Sachs Group, Inc. Each security has a $1,000 face amount, no interest, and is designed to be held to maturity on March 4, 2032.

The maturity payment depends solely on the lowest performing of four underliers: the S&P 500® Index, Dow Jones Industrial Average®, Nasdaq-100 Index® and EURO STOXX 50® Index. If that lowest index is above its starting level, investors receive $1,000 plus the index gain times an upside participation rate of at least 172.90%. If it is down but not below a 70% threshold level (a 30% buffer amount), investors receive $1,000 plus the absolute value of the index decline, capped at a +30% return.

If the lowest underlier falls more than 30% from its starting level, investors have 1-to-1 downside exposure beyond the buffer and may lose up to 70% of principal. The securities are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, pay no dividends, have no exchange listing, and the initial estimated value is $885–$915 per $1,000, below the original offering price, reflecting fees, hedging and structuring costs.

GOLDMAN SACHS GROUP INC (GS), through its affiliate GS Finance Corp., is offering medium-term notes and warrants linked to the S&P 500® Volatility Plus Daily Risk Control Index, a leveraged index targeting S&P 500® volatility with exposure between 100% and 200% of the S&P 500® Index. The index, launched on March 21, 2022 with historical data back to December 31, 1991, aims to maintain a dynamic volatility target equal to the S&P 500® realized volatility plus 10%, though calculation lags mean it will not always match that target.

The supplement presents hypothetical and historical performance only. For the period ended August 3, 2026, the index shows strong backward-looking annualized returns, such as 37.08% over 1 year and 29.51% over 3 years, with annualized volatility of 23.13% and 25.31%, respectively. Comparative data show higher returns than the S&P 500® Index over the same horizons, but much of this is hypothetical and not indicative of future results. As of August 3, 2026, the index’s exposure to the S&P 500® Index is 170.55%. The supplement emphasizes multiple risks, including issuer and guarantor credit risk, leveraged exposure, limited operating history, potential underperformance versus the S&P 500® Index, and the fact that the “risk control” label does not prevent significant losses.

GOLDMAN SACHS GROUP INC (GS) prepared this supplement to describe the S&P 500® Futures Volatility Plus Daily Risk Control Index (SPXFVPRE), an index used for securities GS Finance Corp. may issue. The index provides leveraged exposure (100%–200%) to the S&P 500® Futures Excess Return Index, based on a dynamic volatility target equal to that futures index’s realized volatility plus 10%.

The index is calculated by S&P Dow Jones Indices LLC, has a base date of February 4, 1998 with a base value of 100, and launched on April 25, 2022, using hypothetical data before that date. As of August 3, 2026, annualized return/volatility for the index were 28.97%/23.03% (1 year), 20.48%/25.24% (3 years), 11.43%/26.95% (5 years)*, and 16.36%/26.58% since January 4, 2021*. On August 3, 2026, the index had 171.04% exposure to the S&P 500® Futures Excess Return Index.

The supplement compares performance and volatility versus the S&P 500® Index and the S&P 500® Futures Excess Return Index, emphasizing that much of the history is hypothetical and not indicative of future results. It highlights extensive risk factors, including GS and Goldman Sachs Group credit risk, leveraged and futures-related risks, negative roll yield, limited operating history, and the possibility that the index may underperform the underlying indices despite the term “risk control.”

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering securities whose performance is linked to the Dow Jones Industrial Average Futures Excess Return Index (Bloomberg: DJIAFP). This index tracks the nearest maturing quarterly E-mini Dow ($5) futures contract traded on the Chicago Mercantile Exchange and is calculated and maintained by S&P Dow Jones Indices LLC.

The index has a base date of June 14, 2002 with a base value of 100 and is quoted in USD. As of August 3, 2026, annualized returns were 18.56% over 1 year, 10.77% over 3 years, 6.17% over 5 years, and 8.52% since January 4, 2021, with corresponding annualized volatilities between about 12.6% and 14.9%.

Comparative data show that over the same periods the Dow Jones Industrial Average® and the S&P 500® Index had higher annualized returns than this futures excess return index. The supplement highlights multiple risks, including credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., lack of dividends and shareholder rights, futures-specific risks such as negative roll yields, and the possibility that market value of the securities may be influenced by many unpredictable factors.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., provides an August 2026 index supplement for Medium-Term Notes, Series F linked to the S&P 500 Futures Excess Return Index (SPXFP). The index tracks the nearest maturing quarterly E-mini S&P 500 futures contract on the Chicago Mercantile Exchange and has a base value of 100 on September 9, 1997.

The supplement presents historical performance and volatility data through August 3, 2026, and compares the index to the S&P 500 Index, showing consistently lower annualized returns for the futures-based index over 1-, 3-, 5-year periods and since January 4, 2021. It highlights that past performance is not indicative of future results and details key risks, including credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., lack of dividends and shareholder rights, the impact of negative roll yields on futures, and the possibility that futures-based exposure behaves differently from direct equity index exposure.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering Medium-Term Notes, Series F that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes have an aggregate face amount of $651,000 and are issued at 100% of face with a 2.25% underwriting discount.

The notes pay a contingent monthly coupon of $6.167 per $1,000 (0.6167% monthly, up to about 7.40% per year) only if, on each coupon observation date, the closing level of each of NVIDIA, Oracle and Palantir is at or above 70% of its initial level. The notes are subject to an automatic call on monthly dates starting August 24, 2027 if all underliers are at or above their initial levels; in that case, investors receive $1,000 per note plus the coupon then due.

If the notes are not called, investors receive $1,000 per note at maturity on August 29, 2029, plus any final coupon, regardless of underlier performance, subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The issuer’s estimated value on the trade date is $966 per $1,000, below the issue price, reflecting fees, expenses and dealer economics, with an additional $11.5 per $1,000 amortizing to zero by November 23, 2026. The notes are not listed, may have limited liquidity, and their market value can be affected by underlier levels, volatility, interest rates and the creditworthiness of the issuer and guarantor.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering S&P 500® Index-linked Medium-Term Notes, Series F, with an aggregate face amount of $995,000. The notes are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., do not bear interest, and are not listed on any exchange.

The notes may be automatically called on August 29, 2028 if the S&P 500® closing level on August 24, 2028 is at or above the initial level of 7,652.86, in which case investors receive $1,149 per $1,000 face amount. Otherwise, at maturity on August 28, 2031, investors receive a cash amount tied to index performance with a 100% upside participation rate and a 20% downside buffer. If the final index level falls below 80% of the initial level, principal is reduced one-for-one beyond the 20% buffer, and a substantial loss of principal is possible.

The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The original issue price is 100% of face amount, including a 4% underwriting discount, for net proceeds of 96% to the issuer. The estimated value is lower than the issue price, secondary market liquidity is uncertain, and tax treatment is uncertain, with counsel viewing the notes as a pre-paid derivative contract for U.S. federal income tax purposes.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering Medium-Term Notes, Series F, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $1,293,000. These are index-linked notes tied to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index.

For each $1,000 face amount, investors may receive a contingent monthly coupon of $9.459 (0.9459% per month, up to about 11.35% per year) only if on the relevant observation date the closing level of each underlier is at or above 70% of its initial level. The notes are callable at the issuer’s option at par plus any due coupon on any coupon payment date from November 2026 through January 2028.

At maturity on February 29, 2028, if the notes have not been redeemed and each final underlier level is at or above its 70% trigger buffer level, investors receive $1,000 per note plus any final coupon. If any underlier finishes below its trigger buffer level, repayment is $1,000 + ($1,000 × lesser performing underlier return), so principal loss can be up to 100%. The original issue price is 100% of face amount, with a 0.725% underwriting discount and 99.275% net proceeds to the issuer. The notes are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and may trade below face value; the estimated value at pricing is disclosed as being less than the issue price.

Goldman Sachs Group Inc. (GS) is offering notes linked to the BlackRock® Dynamic Factor Index, which tracks a rules-based portfolio of up to five equity ETFs, up to three Treasury bond ETFs, and a cash constituent. The index measures how this portfolio performs after subtracting the sum of (i) the Secured Overnight Financing Rate (SOFR) plus 0.26161% and (ii) an additional 0.65% per annum fee, both accruing daily.

Equity ETF weights are set using factor signals (economic regime, value, momentum), while fixed income ETF weights follow medium-term interest-rate trends. Overall allocations among equities, bonds and cash are adjusted daily to target no more than 5% volatility, which can lead to large cash positions; historically, cash has reached up to 85.5% of the index. From January 1, 2021 to August 3, 2026, the index showed -2.37% annualized performance with 4.95% annualized volatility, compared with 15.36% and 16.66% respectively for the iShares® Core S&P 500 ETF. On December 28, 2021 the reference rate changed from 3‑month USD LIBOR to SOFR + 0.26161%, leaving limited post-SOFR performance history. Extensive risk factors highlight that the index may be heavily in cash, may not achieve its volatility target, and that factor and rate-based methodologies may underperform.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering Digital EURO STOXX 50® Index-Linked Notes due 2031 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and is issued at 100% of face.

At maturity, if the EURO STOXX 50® final level is at or above its initial level, holders receive the greater of the threshold settlement amount (at least $1,637.50) or $1,000 plus index return. If the index is down but not below the 75% trigger buffer level, holders receive $1,000. If it is below the trigger buffer, principal is reduced 1% for each 1% index decline and investors can lose their entire investment. The notes pay no interest, are not listed, and their value depends on the index performance and the credit of GS Finance Corp. and The Goldman Sachs Group, Inc. The filing highlights that the notes’ estimated value at pricing will be less than the issue price, that secondary-market prices may be lower, that the underlier involves foreign-market risks, and that U.S. tax treatment is uncertain, with the notes intended to be treated as pre-paid derivative contracts.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured Trigger Autocallable Contingent Yield Notes linked to the EURO STOXX 50® and Nasdaq‑100® indices. Investors receive a contingent quarterly coupon of between $0.22 and $0.2375 per $10 face amount (up to about 8.80%–9.50% per year) only if on each observation date both indices are at or above a coupon barrier set at 70% of their initial levels.

Starting in February 2027, the notes are automatically called if on any quarterly observation date both indices are at or above their initial levels; in that case investors receive $10 per note plus the coupon then due and the notes terminate. If not called and at maturity in August 2029 both indices are at or above their 70% downside thresholds, investors receive full principal plus the final coupon. If any index finishes below its downside threshold, the payoff is reduced one‑for‑one with the loss of the lesser performing index, with potential loss of the entire principal and no final coupon.

The notes are subject to the credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc. The estimated value on the trade date is $8.90–$9.20 per $10, below the 100% issue price, reflecting fees and structural costs; underwriting discounts are 2%, with 98% net proceeds to the issuer. The product is positioned only for investors who can tolerate equity‑index risk, limited upside, possible zero coupons, illiquidity and full principal loss.

Goldman Sachs Group Inc. (GS), as guarantor for GS Finance Corp., is offering no-coupon, auto-callable, equity-linked notes tied to an equally weighted basket of eight large- and mid-cap stocks, each with a 12.5% weight and initial weighted value of 12.5, giving an initial basket level of 100.

The notes may be automatically called on the call observation date, expected September 20, 2027, if the basket level is at or above 100, paying at least $1,192.5 per $1,000 face amount on the call payment date. If not called, at maturity (expected September 14, 2029) investors receive: enhanced upside at a 150% upside participation rate when the basket is above 100; a positive “absolute return” when the basket is between 70 and 100; and full downside exposure if the basket falls below the 70% trigger buffer level, with potential loss of most or all principal.

The notes’ estimated value on the trade date (expected September 11, 2026) is $925–$965 per $1,000 face amount, below issue price, reflecting fees and hedging costs. Payments depend on the credit of GS Finance Corp. and Goldman Sachs Group Inc.; investors do not receive dividends on the basket stocks and face limited anti-dilution protection and possible illiquidity in any secondary market.

Goldman Sachs Group, Inc. (GS), via GS Finance Corp., is offering autocallable index-linked notes due 2029 under its Medium-Term Notes, Series F program, linked to the Nasdaq-100 Index® and Russell 2000® Index. The notes are fully and unconditionally guaranteed by Goldman Sachs Group, Inc.

The notes pay no interest and may be automatically called on annual call observation dates (starting August 26, 2027) if each underlier is at or above its initial level, paying back principal plus a call premium of at least 13.25% on the first call date or at least 26.5% on the second. If not called, at maturity in August 2029 investors receive: principal plus at least a 39.75% maturity premium if both final underlier levels are at or above their initial levels; principal back if each final level is at or above its 70% trigger buffer level; or exposure one-for-one to the downside performance of the worse-performing index if any final level is below its trigger buffer, which can result in a total loss of principal. Returns are capped, the notes are not listed, secondary market liquidity is uncertain, and investors are exposed to the credit risk of GS Finance Corp. and Goldman Sachs Group, Inc. Tax treatment is uncertain and relies on characterization as a pre-paid derivative contract.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

Goldman Sachs Group Inc. (GS), as guarantor for GS Finance Corp., is offering autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index under its Medium-Term Notes, Series F program. The notes pay no coupons and return at least the $1,000 face amount at maturity, subject to issuer and guarantor credit risk.

The notes may be automatically called on November 30, 2027 if the index closing level is at or above its initial level; in that case investors receive $1,200 per $1,000 face amount (a 20% gain) on December 7, 2027. If not called, at maturity in 2030 investors receive $1,000 plus 215% of any positive index return, but only the face amount if the index is flat or down.

The underlying index is a rules-based multi-asset strategy with daily rebalancing, a 5% volatility control and a momentum risk control overlay, and it is reduced by a 0.65% per annum deduction plus an excess return structure over the federal funds rate. Goldman Sachs estimates the notes’ initial value at $905–$955 per $1,000 face, below the issue price, reflecting fees and structuring costs.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering S&P 500 Index-linked notes due March 14, 2031, under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the S&P 500 Index level from the September 11, 2026 trade date to the March 11, 2031 determination date.

For each $1,000 note, investors receive at maturity the face amount plus the index return when the final index level is above the initial level, capped at a maximum settlement amount of $1,492 per $1,000. If the final index level is equal to or below the initial level, the payment is the $1,000 face amount. The notes pay no periodic interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. For U.S. tax purposes they are treated as contingent payment debt instruments, generally requiring accrual of taxable ordinary income over the term based on a comparable yield, even though no cash is received before maturity.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is issuing medium-term structured notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, with an aggregate face amount of $631,000. The notes offer principal repayment at maturity but no periodic interest.

For each $1,000 note held to the stated maturity date of August 28, 2031, investors receive: (i) if the final index level exceeds the initial level of 114.03, $1,000 plus 908% of the index return; or (ii) otherwise, only the $1,000 face amount. The notes’ return is thus highly leveraged to positive index performance but provides no upside if the index is flat or negative.

The underlying index is a rules-based, daily rebalanced strategy that allocates among equity, bond, commodity and cash-equivalent exposures with a 5% volatility control and a momentum risk-control overlay. Index performance is reduced by a 0.65% per annum deduction (accruing daily) and an excess-return feature over the federal funds rate, so significant allocations to cash-linked positions can materially drag returns. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk. The original issue price is 100% of face, with a 1.375% underwriting discount and 98.625% net proceeds to the issuer.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering callable contingent coupon notes linked to the VanEck Semiconductor ETF (SMH), maturing in June 2029 and fully and unconditionally guaranteed by Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $13.667 per $1,000 face amount (1.3667% per month, up to about 16.4% per year) only if on each observation date SMH is at or above a coupon trigger level of 80% of the initial level.

At maturity, if not previously called, investors receive $1,000 per note if the final ETF level is at or above an 80% buffer level. If the final level is below the buffer, repayment is reduced 1-for-1 with the ETF’s decline beyond 20%, so investors can lose a substantial portion of principal. Goldman Sachs may redeem the notes early on any coupon payment date from December 2026 to May 2029 at $1,000 per note plus any due coupon. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and Goldman Sachs Group, Inc., will not be listed on an exchange, and their estimated initial value is less than the issue price due to fees and hedging costs.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering S&P 500®-linked Medium-Term Notes, Series F, with an aggregate face amount of $22,500,000, fully and unconditionally guaranteed by Goldman Sachs. The notes pay a contingent quarterly coupon of $21 per $1,000 (2.1% per quarter, up to 8.40% per annum) only if, on each coupon observation date, the S&P 500® Index (SPX) closing level is at or above 60% of the initial underlier level.

The notes are subject to an automatic call: if on any call observation date SPX is at or above the initial level of 7,674.37, investors receive $1,000 per note plus the due coupon, and the notes terminate early. If not called, at maturity on August 26, 2031 investors receive $1,000 per note if the final SPX level is at or above the 60% trigger buffer; otherwise the payoff is $1,000 plus $1,000 times the underlier return, exposing investors to losses down to a total loss of principal. There is no participation above par in SPX gains, the notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed, and their market value and tax treatment (including treatment as an income-bearing pre-paid derivative contract and potential FATCA and 871(m) implications) may differ from expectations.

Goldman Sachs Group Inc. (GS), via GS Finance Corp. and its Series F medium-term note program, is offering auto-callable index-linked notes tied to a Class A subordinate voting share of Shopify Inc. The notes are guaranteed by The Goldman Sachs Group, Inc.

The notes have a face amount in $1,000 denominations, issue at 100% of face, carry an underwriting discount of 1.85% and net proceeds of 98.15% of face to the issuer. They pay contingent quarterly coupons of $37.50 per $1,000 (3.75% quarterly, up to 15% per annum) only if Shopify’s share price on the observation date is at or above 49.1% of the initial index stock price; otherwise the coupon is zero.

The notes may be automatically called starting March 2027 if the index stock closes at or above the initial price on a call observation date, returning face value plus the applicable coupon. If not called, at maturity in August 2028 investors receive face value plus any final coupon if the final price is at or above 49.1% of the initial price; if it is below that level, repayment is reduced one-for-one with the stock loss, potentially to zero, with no coupon. The estimated value on the trade date is expected between $925 and $955 per $1,000, reflecting structuring and distribution costs, and payments are subject to the unsecured credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering index-linked notes due September 7, 2029, whose payoff depends on the lesser performance of the Russell 2000® Index and the Nasdaq‑100 Index® between an expected trade date of September 4, 2026 and an expected determination date of September 4, 2029. The notes pay no interest and are unsecured obligations guaranteed by The Goldman Sachs Group, Inc.

For each $1,000 note at maturity: if both index returns are at least 0%, payment equals $1,000 plus 107% of the lesser positive index return. If any index return is negative but both final levels are at least 80% of their initial levels, payment equals $1,000 plus the absolute value of the lesser negative return (a 5% decline yields a 5% gain). If any index ends below 80% of its initial level, payment equals $1,000 times the lesser index return plus 20%, so investors lose principal once the lesser index return is worse than ‑20%. Hypothetical examples show outcomes from 207.000% of face at a 200% lesser index level down to 20.000% of face at a 0% lesser index level.

The notes’ estimated value on the trade date is expected between $925 and $955 per $1,000 face amount, below the 100% original issue price due to underwriting discounts, hedging and structuring costs. The structure embeds significant market risk, reliance on the lesser-performing index, limited upside (via the 107% participation rate), a 20% buffer, lack of interest payments, potential illiquidity, and the credit risk of both GS Finance Corp and its parent guarantor.

Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering Medium-Term Notes, Series F whose payments are linked to the BlackRock® Dynamic Factor Index. This index combines an equity ETF basket of five factor iShares ETFs, a fixed income ETF basket of three Treasury iShares ETFs, and a cash constituent tied to a notional interest rate.

The index measures how this portfolio performs relative to the sum of SOFR plus 0.26161% plus an additional 0.65% per annum fee, accruing daily. A volatility control mechanism targets 5% annualized volatility, which can shift a large share of exposure into the cash constituent; historically, cash has reached up to 85.5% of the index. As of August 3, 2026, major weights included the iShares 1–3 Year Treasury Bond ETF and iShares 7–10 Year Treasury Bond ETF at 30.54% each and cash at 17.50%. Since January 1, 2021, the index showed -2.37% annualized performance with 4.95% annualized realized volatility and a -19.10% maximum drawdown, versus the iShares Core S&P 500 ETF’s 15.36% annualized return and -33.90% maximum drawdown. Net proceeds from the notes will be lent to The Goldman Sachs Group, Inc. or its affiliates and may be used for general corporate purposes and hedging.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering $1,000,000 aggregate face amount of Medium-Term Notes, Series F linked to the Nasdaq-100 Index®. The notes pay no interest and may be automatically called on August 31, 2027 if the index closing level is at or above the initial level of 29,023.18, in which case investors receive a fixed $1,130 per $1,000 face amount on September 3, 2027.

If not called, the August 29, 2028 maturity payment depends on index performance. Above the initial level, investors receive $1,000 plus 150% of the index gain. Between 75% and 100% of the initial level, investors receive only their $1,000 principal. Below 75%, principal is exposed 1:1 to the index loss and investors can lose their entire investment. The notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to the credit risk of both. The original issue price is 100% of face amount, including a 2% underwriting discount, yielding 98% in net proceeds to the issuer. The notes will not be listed, and secondary market value may be significantly below face.

Goldman Sachs Group Inc. (GS), via issuer GS Finance Corp., is offering autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, maturing in 2033 and fully and unconditionally guaranteed by Goldman Sachs Group Inc. Payment at maturity, if the notes are not called, depends on index performance: for each $1,000 face amount, investors receive $1,000 plus 100% of any positive index return, and only $1,000 if the index is flat or negative.

The notes feature annual automatic call observations from 2027 to 2032; if on an observation date the index is at or above the rising call level (from 100.75% to 104.50% of the initial level), investors are repaid $1,000 plus a call premium of at least 13% to 78%. The underlying index is a rules-based, daily rebalanced strategy with a 5% volatility control, momentum risk control, and a 0.65% per annum deduction, and can hold substantial hypothetical cash, which can significantly dampen index returns. The issuer’s estimated value on the trade date is $850–$890 per $1,000, below the issue price, and the notes are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of ordinary income over the term.

Goldman Sachs Group, Inc. (GS), as guarantor, is supporting GS Finance Corp.’s issuance of index-linked Medium-Term Notes, Series F, due March 28, 2030. The notes’ payoff is tied to the Goldman Sachs Momentum Builder® Focus ER Index, a rules-based, volatility- and momentum-controlled multi-asset index.

At maturity, investors receive at least the $1,000 face amount per note. If the final index level exceeds the initial level, the payoff equals $1,000 plus 475% or more of the index return, offering leveraged upside without downside below par (subject to issuer and guarantor credit risk). The index applies a 5% volatility control and a 0.65% per annum deduction, and often allocates substantially to cash-like positions, which can materially dampen index gains.

The notes pay no periodic interest, have limited secondary market liquidity and an estimated value below the original issue price due to fees and hedging costs. For U.S. tax purposes they are treated as contingent payment debt instruments, generally requiring accrual of taxable income over the term even though cash is only received at maturity.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering autocallable notes linked to the Goldman Sachs Momentum Builder ^® Focus ER Index, maturing in 2031 and fully guaranteed by Goldman Sachs Group, Inc. The notes are issued at 100% of face amount but have an estimated value of $850 to $880 per $1,000 on the trade date, reflecting fees and structuring costs.

The notes may be automatically called on September 27, 2027 if the index closing level is at or above the initial level, paying $1,140 per $1,000 on September 30, 2027. If not called, at maturity investors receive: (i) $1,000 + 300% of any positive index return, or (ii) $1,000 if the index has not risen, so principal is repaid but upside is contingent and leveraged. The notes pay no periodic interest and secondary market value may be below face.

The underlying index is a rules-based strategy that reallocates daily among equity, bond, commodity and cash-equivalent exposures, with a 5% volatility control, a momentum risk control overlay and a 0.65% per annum deduction on the index (plus federal funds rate deduction on the base index). A large portion of the index may be in low-yield cash positions, which can materially dampen index performance. For U.S. tax purposes, the notes are expected to be treated as contingent payment debt instruments, requiring annual accrual of ordinary income based on a IRS-style “comparable yield,” even though cash is generally only received at call or maturity.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering EURO STOXX 50® index-linked notes due September 16, 2031, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return depends entirely on index performance between the September 11, 2026 trade date and the September 11, 2031 determination date.

At maturity, for each $1,000 note, holders receive: if the final index level is at or above the initial level, the greater of a threshold settlement amount of at least $1,558.50 or $1,000 plus $1,000 times the index return. If the final level is below the initial but not below 75% of it, holders receive $1,000. If the final level is below 75% of the initial level, principal is exposed 1-for-1 to the index decline and principal losses can reach 100%.

The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any exchange, and may have limited or no secondary market. The original issue price is higher than the model-based estimated value, reflecting underwriting discounts, structuring fees and other costs, which can depress secondary market prices. Tax treatment is uncertain; counsel views the notes as prepaid derivative contracts, but the IRS could assert a different characterization.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering autocallable index-linked notes due 2028 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the Russell 2000® Index and S&P 500® Index and pay no interest.

The notes may be automatically called on September 30, 2027 if each index is at or above its initial level, in which case investors receive at least $1,114 per $1,000 on October 7, 2027. If not called, at maturity in October 2028 investors receive a cash amount based on the lesser performing index, with a 200% upside participation rate and a 15% downside buffer; if any index falls more than 15%, principal is reduced one-for-one with the loss beyond the buffer and investors may lose most of their investment. Payments are subject to the credit risk of GS Finance Corp. and the guarantor, the notes will not be listed, their estimated value at pricing will be below the issue price, secondary market prices may be volatile, and U.S. tax treatment is uncertain.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering unsecured, guaranteed structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. Each $1,000 note can pay a conditional monthly coupon of $12.50 (1.25%) when the index is at or above 60% of its initial level on the relevant observation date; otherwise no coupon is paid.

The notes mature on September 5, 2031, but are subject to an automatic call quarterly from September 2027 if the index is at or above its initial level, in which case investors receive $1,000 plus the coupon, and the note terminates early. If not called and the final index level is below 40% of the initial level (the trigger buffer level), repayment of principal is reduced one-for-one with the index decline, down to a total loss.

The index uses a rules-based strategy targeting 40% volatility with up to 500% leverage, caps on daily leverage changes, and a 6.0% per annum daily decrement, all of which can magnify losses and cause the index to lag related benchmarks. The estimated value at pricing is expected between $885 and $935 per $1,000, below the 100% issue price, and payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), through its subsidiary GS Finance Corp., is offering S&P 500® Index-linked notes due 2032, fully and unconditionally guaranteed by Goldman Sachs. The notes are issued at 100% of face amount under the Medium-Term Notes, Series F program and do not bear interest.

At maturity, for each $1,000 note investors receive: (i) $1,000 + ($1,000 × underlier return) if the S&P 500® final level exceeds the initial level, capped by a maximum settlement amount of at least $1,556.5, or (ii) $1,000 if the index is flat or down. Thus principal is protected at maturity, but upside is limited and there are no dividends or interim coupons.

The notes are subject to the credit risk of GS Finance Corp. and Goldman Sachs, potential illiquidity, and model-based pricing where the initial estimated value is less than the issue price. For U.S. tax purposes they are treated as contingent payment debt instruments, generally requiring accrual of ordinary income over the term and ordinary income treatment on gain.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp, is offering equity-linked, no-coupon structured notes tied to an equally weighted basket of 8 large- and mid-cap stocks (including AMD, Alphabet, Microsoft and others). Each stock has a 12.5% initial weight and the basket’s initial level is 100.

The notes may be automatically called on the call observation date, expected September 20, 2027, if the basket level is at least the initial level. In that case, investors receive at least $1,145 per $1,000 on the call payment date and the trade ends early. If not called, the notes mature on the expected stated maturity date of September 14, 2029, with payoff based on basket performance: 150% leveraged upside if the basket is above the initial level; a positive return equal to the absolute basket loss if the basket is down but not below 70% of initial; and a one-for-one loss if the basket falls more than 30%, which can lead to losing most or all principal.

The notes do not pay interest and do not pass through dividends. Repayment depends on the credit of GS Finance Corp and its guarantor, The Goldman Sachs Group, Inc. The initial estimated value is between $925 and $965 per $1,000, below issue price, reflecting fees, hedging, and dealer margin.

GOLDMAN SACHS GROUP INC (GS), through subsidiary GS Finance Corp., is offering leveraged callable notes linked to the S&P 500® Futures Excess Return Index, guaranteed by Goldman Sachs. The notes are issued at 100% of face amount in $1,000 denominations, with an aggregate face amount of $933,000 on the original issue date.

The notes bear no interest and mature on August 29, 2033, unless redeemed earlier at the issuer’s option on monthly call payment dates from August 2027 to July 2033 at 100% of face plus a stated call premium. If held to maturity and not called, investors receive $1,000 plus 5.55x any positive index return, based on the change in the index from an initial level of 610.40 to the final level; if the index return is zero or negative, only principal is repaid.

The estimated value at pricing is approximately $931 per $1,000 note, below issue price due to underwriting discounts (4.125% of face), hedging and issuance costs. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on an exchange, and are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of taxable income over their term.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering auto-callable buffered notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and are expected to be issued on September 30, 2026, maturing October 2, 2031, unless automatically called starting in September 2027.

The index provides leveraged, rules-based exposure (up to 500%) to an S&P 500 futures index with a 40% volatility target and a fixed 6.0% per annum decrement that is deducted daily, which drags performance and can deepen losses. If on any call observation date the index level is at or above its initial level, the notes are redeemed at $1,000 plus a call premium that starts at 24% and steps up to 118%.

If not called, maturity payment depends on index performance. For each $1,000 face amount, investors receive up to a maximum of $2,200 (120% maturity premium) if the final index level is at or above the initial level; full principal is returned if the index is down up to 50%. Below that trigger buffer, losses are 1:1 with the index decline and principal can be fully lost. The estimated initial value is $885–$935 per $1,000, below issue price, and all payments are subject to the credit risk of GS Finance Corp. and the Goldman Sachs guarantee.

Goldman Sachs Group Inc. (GS), through its subsidiary GS Finance Corp. as issuer and Goldman Sachs Group as guarantor, is offering up to $2,592,000 of index-linked Medium-Term Notes, Series F, tied to the Goldman Sachs Momentum Builder® Focus ER Index.

The notes have a stated maturity of August 29, 2033 and may be automatically called annually if the index closes at or above rising call levels (101.25% to 107.50% of the initial level), paying for each $1,000 face amount $1,000 plus a call premium (from 16.20% up to 97.20%). If never called, at maturity investors receive for each $1,000 the greater of $1,000 or $1,000 × (1 + index return), providing principal repayment but no downside index participation.

The notes pay no periodic interest and offer 100% upside participation in index gains. The index itself is a rules-based, daily rebalanced strategy with volatility and momentum controls and a 0.65% per annum deduction plus an excess-return structure over the federal funds rate, which can materially dampen performance and often leads to large cash allocations. The estimated value on the trade date is $887 per $1,000 face, below the 100% issue price, reflecting structuring costs and a built-in “additional amount” of $66.75 amortizing to zero by November 23, 2026.

Underwriting discount is 4.625% of face, with net proceeds of 95.375% to GS Finance Corp., and the notes are subject to the credit risk of both the issuer and the guarantor. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, requiring accrual of ordinary income based on a 5.42% comparable yield and a projected maturity payment of $1,462.60 per $1,000, regardless of actual payments.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering auto‑callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, maturing on or about October 2, 2031, with Goldman Sachs Group, Inc. as guarantor.

The notes may be automatically called monthly from March 2027 to August 2031 if the index is at or above its initial level, in which case investors receive par plus a coupon. Monthly coupons accrue at $10.209 per $1,000 (1.0209% monthly, potential up to about 12.25% per year) but are paid only when the index on an observation date is at least 60% of its initial level; otherwise no coupon is paid.

If the notes are not called, principal repayment at maturity depends on the final index level. If the final level is at least 60% of the initial level, investors receive full principal (plus any final coupon). If it is below 60%, repayment is reduced one‑for‑one with the index decline, up to a 100% loss of principal. The underlier uses up to 500% leverage, a 40% volatility target and a 6% per annum decrement, which together can magnify losses and cause the index to lag similar indices without these features. The estimated value at pricing is expected between $885 and $935 per $1,000 face amount, and payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering unsecured “Capped Trigger GEARS” notes linked to the State Street® Health Care Select Sector SPDR® ETF (XLV), fully guaranteed by The Goldman Sachs Group, Inc. The notes provide 1.50x leveraged upside exposure to any positive ETF return at maturity, but gains are capped.

If the ETF rises, payment equals the ETF percentage increase multiplied by the 1.50 upside gearing, subject to a maximum settlement amount expected between 24.50% and 26.50% above face value (between $12.45 and $12.65 per $10). If the final ETF price is at or below the initial level but at or above the downside threshold of 75% of the initial price, investors receive back the $10 face amount.

If the final ETF price falls below the downside threshold, repayment is fully exposed to ETF losses, with a percentage loss equal to the ETF return and the possibility of losing the entire investment. The securities pay no interest, do not pass through ETF dividends, and their value depends on the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date is expected between $9.45 and $9.75 per $10 face amount, versus a 100% issue price, reflecting structuring costs and dealer compensation.

Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering $5,642,000 of Medium-Term Notes, Series F, auto-callable market-linked notes guaranteed by Goldman Sachs and linked to the lowest-performing of Alphabet, Broadcom, Dell Technologies and Tesla stock. Each note has a $1,000 face amount and pays a monthly contingent coupon of $7.625 (a 9.15% per annum rate) only when the lowest-performing stock on the relevant calculation day is at or above 75% of its starting price, with a memory feature for missed coupons.

The notes may be automatically called quarterly from August 2027 through May 2031 if the lowest-performing stock is at or above its starting price, in which case investors receive the $1,000 face amount plus the applicable coupon(s). If never called, investors receive a full return of principal at maturity on August 26, 2031, but no upside participation or dividends, and all payments are subject to the credit risk of GS Finance Corp. and Goldman Sachs. The initial estimated value is $960 per $1,000 note, below the original offering price, reflecting underwriting discounts of 3.325% and structuring and distribution costs.

GOLDMAN SACHS GROUP INC, through issuer GS Finance Corp and its guarantee, is offering leveraged notes due in October 2029 that pay no interest and are linked to a basket of equity indices: the S&P 500 Index (40%), TOPIX (40%) and EURO STOXX 50 Index (20%). The initial basket level is 100; at maturity, the cash payment per $1,000 depends on the basket return between the expected September 30, 2026 trade date and the determination date.

If the basket return is positive, investors receive $1,000 plus at least 128% of the basket gain. If the basket return is between 0% and -15%, investors receive $1,000. If the basket decline exceeds 15% (below the 85% trigger buffer level), repayment is $1,000 plus the basket return, resulting in principal loss and potentially a total loss. The notes are unsecured obligations subject to the credit risk of GS Finance Corp and The Goldman Sachs Group, Inc. The estimated initial value is $925–$965 per $1,000 face amount, reflecting fees and structuring costs, and the notes are expected to be issued at 100% of face amount on or about October 5, 2026.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering an initial aggregate face amount of $3,467,000 of unsecured, basket-linked notes under its Series F medium-term note program. The notes pay no interest, are linked to an equally weighted basket of seven U.S.-listed stocks, and mature on August 24, 2028, subject to an automatic call on September 3, 2027 if the basket level is at or above the initial level of 100. Each $1,000 note is issued at 100% of face, with a 1.5% underwriting discount and 98.5% net proceeds to the issuer; the estimated value on the trade date is about $953 per $1,000. If automatically called, holders receive $1,180.5 per $1,000. If not called, maturity payment is based on basket performance with a 125% upside participation rate for gains, full principal return for losses down to -20%, and leveraged downside via a 20% buffer and 125% buffer rate for deeper declines, meaning substantial or total loss of principal is possible. The notes are subject to the credit risk of GS Finance Corp. and are fully guaranteed by The Goldman Sachs Group, Inc.