Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. is offering callable S&P 500® Index‑linked notes due July 7, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have an initial underlier level of 7,499.36, an upside participation rate of 150% and a buffer level of 85%. If not redeemed, payment at maturity per $1,000 face amount depends solely on the final S&P 500 closing level on the June 27, 2031 determination date: 1) if above the initial level, you receive $1,000 plus 1.5× the index return; 2) if between 85% and 100% of the initial level, you receive $1,000; 3) if below 85% of the initial level, you receive $1,000 plus $1,000×(index return + 15%), which can result in a substantial loss. The notes are callable monthly beginning July 6, 2027 at specified capped call premiums. The original issue price is 100% of face; estimated value on the trade date was approximately $983 per $1,000 face amount.

GS Finance Corp. is offering notes, guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $740,000. The notes pay a contingent monthly coupon of $9.584 per $1,000 (0.9584% monthly; potential up to approximately 11.50% per annum) when the underlier closes at or above a coupon trigger level equal to 60% of the initial underlier level. The underlier is the VanEck Gold Miners ETF (GDX) with an initial underlier level of $75.45. If the notes are not automatically called, the cash settlement at maturity is $1,000 per $1,000 face amount if the final underlier level is at or above the trigger buffer (60%); if below, the settlement equals $1,000 plus $1,000 times the underlier return, which can result in a total loss of principal. The notes may be automatically called early if the underlier closes at or above the initial level on a call observation date. Trade date is June 30, 2026, original issue date July 6, 2026, and stated maturity is January 4, 2028. Pricing reflects an original issue price of 100% of face, an underwriting discount of 2.4%, and net proceeds of 97.6% of face.

GS Finance Corp. offers $ callable, contingent-coupon notes linked to the S&P 500® Index due August 6, 2031. Each $1,000 face amount will pay a contingent quarterly coupon of $18.75 if the index closing on the related observation date is ≥ 75% of the initial level; otherwise the coupon is $0. At maturity the cash payment per $1,000 will be $1,000 if the final index level is ≥ the trigger buffer (70% of the initial level); if the final index level is below 70% the payment equals $1,000 × (1 + underlier return), which could result in a total loss of principal. The issuer may optionally redeem the notes on coupon payment dates commencing in August 2027. Pricing, original issue price, and aggregate face amount are set on the trade date.

The Goldman Sachs Group, Inc. offers $50,000,000 principal amount of Callable Fixed Rate Notes due August 2, 2027 with a coupon of 4.25% per annum payable at maturity. The notes accrue interest from the original issue date, July 2, 2026, and are callable in whole on specified redemption dates.

The initial price to public is 100.00% per note; underwriting discount is 0.05%, producing proceeds before expenses to the issuer of $49,975,000. The notes will be issued in book‑entry form through DTC and are subject to specified tax and distribution restrictions in multiple jurisdictions.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes linked to the S&P 500® Futures Excess Return Index that mature on July 3, 2031. Payment at maturity depends on the final underlier level versus the initial level measured from the trade date.

If the final underlier level is above the initial level, holders receive the face amount plus the upside participation rate of 218% times the underlier return. If the final level is at or above the trigger buffer level of 70% of the initial level, holders receive the face amount. If the final level is below 70% of the initial level, investors suffer a proportional loss in principal equal to the underlier return (they may lose their entire investment).

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is pricing contingent income callable securities due July 13, 2028. Each unsecured note (per $1,000 principal) may pay a contingent quarterly coupon only if the S&P 500®, Russell 2000® and Nasdaq-100® each close at or above a 60.00% downside threshold on every index business day during the relevant observation period. The issuer may redeem at par on specified coupon payment dates beginning October 15, 2026. At maturity, if any underlying index is below its downside threshold, payment is reduced pro rata to the worst performing index performance factor. Estimated value range is $920 to $980 per security.

GS Finance Corp. is offering principal-protected notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes have a $1,000 face amount, an expected trade date of July 28, 2026, an expected original issue date of July 31, 2026, and an expected stated maturity date of August 4, 2031. Notes do not bear interest and may be automatically called on scheduled call observation dates beginning in August 2027 if the closing level of the underlier is greater than or equal to the initial underlier level, producing a capped cash payment that includes the applicable call premium. If not called, maturity payoff depends on the underlier return; the maximum settlement amount is $2,200 per $1,000 face amount, the trigger buffer is 50%, and a 6.0% per annum decrement is deducted daily from the index level. The estimated value at pricing is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering callable structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes have an expected trade date of July 28, 2026 and an expected stated maturity of August 4, 2031, with monthly observation dates and monthly coupons payable when the index is at or above 60% of the initial underlier level.

Coupons accrue using a monthly increment of $10.209 (1.0209% monthly, ~12.25% per annum) subject to past coupons paid. The index applies a daily 6.0% per annum decrement and may employ up to 500% leverage with a 40% volatility target. The estimated value at pricing is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering autocallable S&P 500® Index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an upside participation rate of 173% and an automatic call feature that pays $1,120 per $1,000 face amount if the S&P 500 closing level on the call observation date is at or above the initial level. If not called, maturity payoffs depend on the final index level: full principal is preserved when the final level is at or above 80% of the initial level, while declines below 80% translate proportionally into losses, potentially causing a total loss of principal.

The trade date is July 15, 2026, original issue date is July 20, 2026, the call observation date is September 28, 2027 with payment on October 1, 2027, determination date is June 27, 2029, and stated maturity is July 2, 2029.

GS Finance Corp. offers Goldman Sachs Momentum Builder® Focus ER index-linked notes due 2030, guaranteed by The Goldman Sachs Group, Inc. The notes pay, per $1,000 face amount, either $1,000 or $1,000 plus the upside participation rate times the index return, depending on index performance on the determination date. The pricing supplement sets a trade date of July 28, 2026, original issue date of July 31, 2026, a determination date of January 28, 2030 and a stated maturity date of January 31, 2030. The index measures a daily‑rebalanced selection of underlying indices subject to a 5% realized volatility control and a 0.65% per annum deduction; the upside participation rate is stated as at least 455%. The notes do not pay periodic interest and are subject to issuer and guarantor credit risk, index methodology and allocation features that may allocate substantial exposure to hypothetical cash positions.

GS Finance Corp. offers structured, automatically callable notes backed by a Goldman Sachs guarantee. The notes link to the Class C common stock of Dell Technologies, and the common stock of Arista Networks and ServiceNow, with an expected trade date of July 2, 2026, an original issue date expected to be July 9, 2026, a determination date expected to be July 3, 2028, and a stated maturity date expected to be July 11, 2028.

The notes pay monthly coupons only if each index stock meets a 50% trigger threshold on coupon observation dates, are automatically called if all three stocks are at or above their initial prices on a call observation date, and at maturity either return face amount or an amount tied to the lesser performing stock if a trigger event occurs. The estimated value on the trade date is between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering medium-term, equity index-linked notes due January 22, 2029 with a $1,000 face amount per security linked to an unequally weighted basket of five indices. The securities pay no interest; maturity payment depends on the basket performance and features a 100% participation on upside subject to a maximum return of at least 47.40%. The notes include a 15.00% buffer: if the basket falls by more than the buffer, investors have 1-to-1 downside and may lose up to 85.00% of face amount. Estimated value at pricing is between $925 and $955 per $1,000 face amount; original offering price is $1,000. Payments are unsecured and subject to issuer and guarantor credit risk.

The offered notes are GS Finance Corp. medium-term, equity-linked notes tied to the Class A common stock of Coinbase Global, Inc., with an initial underlier level of $149.06 as of June 26, 2026. Each $1,000 face-amount note pays a contingent monthly coupon of $26.334 if the underlier on the coupon observation date is at or above 50% of the initial level, and is subject to an automatic call if the underlier on any call observation date is at or above the initial level. At maturity (if not called), cash payment per $1,000 depends on the final underlier level: if at or above the trigger buffer (50%), you receive $1,000; if below, you receive $1,000 × underlier return, which could result in a total loss of principal.

GS Finance Corp. is offering principal-at-risk notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (Bloomberg: SPAR4V6). The notes pay a monthly coupon of $12.50 per $1,000 if the index on an observation date is ≥ 60% of the initial underlier level and may be automatically called beginning in January 2027. The index applies volatility-targeted, leveraged exposure (up to 500%) to E-mini S&P 500 futures and deducts a 6.0% per annum daily decrement, which reduces index performance. If not called, final payment at maturity (expected August 4, 2031) depends on the underlier return; losses up to the full principal are possible. The estimated value at pricing is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering S&P 500® Index-Linked Notes due 2029, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and settle in cash at maturity per the underlier return measured from the trade date to the determination date, subject to a maximum settlement amount of at least $1,215 per $1,000 face amount. Trade date terms are expected to be set on July 31, 2026; the determination date is April 30, 2029 and the stated maturity date is May 3, 2029. If the final index level is equal to or less than the initial level, holders receive only the face amount.

GS Finance Corp. is offering callable, contingent coupon notes linked to the VanEck Semiconductor ETF (SMH). Each note has a $1,000 face amount, pays a contingent quarterly coupon of at least $42.50 if the underlier is ≥80% of its initial level, and matures May 3, 2029, subject to issuer redemption commencing February 2027. At maturity the cash payment is capped at $1,000 if the final underlier level is ≥80%, and losses occur if the final underlier level falls below the 80% buffer (with a 20% buffer and 100% buffer rate). The notes are unsecured senior obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and carry issuer and market risks including possible substantial loss of principal, limited upside at maturity, model/valuation discounts at issuance, and uncertain U.S. federal tax treatment.

GS Finance Corp. is offering structured, monthly‑coupon, auto‑callable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stocks of AMD, UnitedHealth, Tesla and NVIDIA, have an expected trade date of July 28, 2026 and an expected stated maturity of August 4, 2031.

The notes pay either a maximum coupon of $10.625 per $1,000 face amount (1.0625% monthly, up to 12.75% p.a.) or a minimum coupon of $0.209 per $1,000 (0.0209% monthly, ~0.25% p.a.) on each coupon payment date depending on whether each index stock’s closing price on the coupon observation date is at least 77.5% of its initial price. The notes will be automatically called and redeemed early if, on any call observation date, each index stock’s closing price is greater than or equal to its initial index stock price. GS&Co., as calculation agent, will make determinations about closing prices, observation dates and anti‑dilution adjustments. The estimated value at term setting is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering $1,000 face‑amount autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest, may be automatically called annually if the index meets a call level (101% of the initial index level), and mature on July 29, 2033. If not called, maturity payment per $1,000 depends on index performance: with 100% upside participation when the final index level exceeds the initial level; if the final index level is equal to or below the initial level, the cash settlement equals the $1,000 face amount. GS&Co.’s estimated trade‑date value is $850 to $890 per $1,000, below issue price. The index is a daily‑rebalanced, momentum‑driven construct with volatility and momentum risk controls and a deduction of 0.65% per annum, and allocations may shift heavily into hypothetical cash positions. The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer/guarantor credit risk and specific U.S. federal tax rules treating the notes as contingent payment debt instruments.

GS Finance Corp. is offering Buffer Autocallable GEARS linked to the S&P 500® Index, unsecured notes guaranteed by The Goldman Sachs Group, Inc. Terms include an expected trade date of July 15, 2026, original issue date July 17, 2026, call observation date July 22, 2027, call payment date July 26, 2027, determination date July 16, 2029, and stated maturity date July 18, 2029. The notes pay no coupons, may be automatically called if the index ≥ an autocall barrier (100.00% of the initial index level) on the call observation date, and provide upside exposure via an upside gearing expected between 1.20 and 1.413. At maturity holders receive principal if the final index level ≥ the downside threshold (90.00% of initial); otherwise losses apply beyond a 10.00 buffer. Estimated value at issuance is between $9.40 and $9.70 per $10 face amount; original issue price is 100.00% of face with a 2.50% underwriting discount.

GS Finance Corp. is offering structured notes: Trigger Autocallable GEARS linked to the EURO STOXX 50® Index, guaranteed by The Goldman Sachs Group, Inc. Trade date is July 15, 2026 with an original issue date of July 17, 2026. The notes pay no coupons, have an autocall feature (call observation date July 22, 2027) and a final determination date of July 15, 2031 with stated maturity July 17, 2031.

Key economic terms set on the trade date include upside gearing expected between 1.45 and 1.67, a downside threshold of 75.00 of the initial index level, and a call return of 18.00. Estimated model value at pricing is $9.35–$9.65 per $10 face amount; original issue price is 100.00 of face with a distribution concession of 2.50.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent income callable securities tied to the worst‑performing of the S&P 500®, Russell 2000® and Nasdaq‑100® with a stated maturity expected to be July 13, 2028. Each security has a $1,000 stated principal amount and may pay a contingent quarterly coupon (set at least $28.75 per $1,000 in the examples) only if each underlying index closes at or above a downside threshold equal to 70.00% of its initial index value on every index business day during the preceding quarterly coupon observation period. The issuer may redeem the securities at its option on coupon payment dates beginning with the coupon payment date expected to occur on October 15, 2026 through the coupon payment date expected to occur on April 13, 2028 at 100% of principal plus any coupon then due. If not redeemed, payment at maturity will be $1,000 if each final index value is greater than or equal to its downside threshold, or $1,000 multiplied by the worst performing index performance factor if any final index value is below its downside threshold.

GS Finance Corp. is offering callable S&P 500® Index-linked notes due August 2, 2032, guaranteed by The Goldman Sachs Group, Inc. The notes do not bear interest, pay at maturity per the S&P 500® Index performance (100% participation if final level > initial level), and may be redeemed at issuer option on specified monthly call payment dates beginning August 2, 2027. The estimated value at trade date is between $885 and $935 per $1,000 face amount. The trade date is expected to be July 28, 2026 and the original issue date July 31, 2026. Purchasers are exposed to issuer and guarantor credit risk, limited upside at call dates (capped by the applicable call premium amounts), and U.S. tax rules treating the notes as contingent payment debt instruments.

The offering describes Autocallable Market-Linked Step Up Notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., linked to the EURO STOXX® Banks Index with a term of approximately two years if not called. Each unit has a $10 principal amount and a Call Payment of $12.00 per unit if automatically called on the Call Observation Date, roughly one year after pricing. If not called, redemption at maturity depends on the Ending Value versus a Threshold Value (to be set on pricing), with a Step Up Payment of $4.00 per unit (40%) and a Participation Rate of 100%. Estimated value at pricing is between $9.00 and $9.30 per $10 principal. The notes carry issuer/guarantor credit risk, limited secondary liquidity, no periodic interest, and a $100,000 minimum purchase.

GS Finance Corp. is offering Autocallable Goldman Sachs Momentum Builder® Focus ER Index‑Linked Notes due 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an upside participation rate of 100%, and may be automatically called on specified annual observation dates beginning July 28, 2027. If not called, the cash settlement at maturity on July 29, 2033 will pay $1,000 + $1,000 × (index return) when the final index level exceeds the initial level; if the final index level is equal to or below the initial level, the holder will receive the face amount of $1,000. The notes are linked to the Goldman Sachs Momentum Builder® Focus ER Index, which rebalances daily, applies a 5% realized volatility control, and subjects the index to a 0.65% per annum deduction. GS&Co.’s models price the notes on the trade date at an estimated value of $850 to $890 per $1,000 face amount, below the original issue price. Purchase involves issuer and guarantor credit risk and the possibility that index allocations may shift largely into hypothetical cash positions, which earn zero on an excess return basis before the deduction.

GS Finance Corp. is offering callable contingent coupon notes linked to the VanEck Semiconductor ETF (SMH). The notes pay a contingent quarterly coupon of $50 per $1,000 (at least 5% quarterly) when the underlier equals or exceeds 80% of the initial level. The issuer may redeem the notes on coupon payment dates beginning in February 2027.

At maturity (stated maturity May 3, 2029), each $1,000 face amount will pay either $1,000 if the final underlier level is at or above the 80% buffer, or a reduced cash settlement calculated using the 20% buffer and the underlier return, potentially causing substantial loss of principal. The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and guarantor credit risk, market‑value volatility, and tax uncertainties.

GS Finance Corp. is offering leveraged, buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on S&P 500 performance measured from the trade date to the determination date.

Key terms include a 300% upside participation rate capped at a maximum upside settlement amount of at least $1,207.50 per $1,000, a 10% buffer (buffer level = 90% of the initial level), trade date July 31, 2026, original issue date August 5, 2026, determination date July 31, 2028, and stated maturity August 3, 2028. If the final underlier level falls below the buffer level, investors can lose a substantial portion of principal.

GS Finance Corp. is offering S&P 500® Index‑linked notes due 2030, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest. At maturity you receive either the face amount if the underlier return is zero or negative, or a cash payment tied to the S&P 500 return up to a maximum settlement amount of at least $1,284 per $1,000 face amount. Key dates disclosed include a trade date of July 28, 2026, original issue date July 31, 2026, determination date July 29, 2030, and stated maturity date August 1, 2030. The pricing supplement notes the original issue price will exceed the notes’ estimated model value and discusses market‑making, credit risk of the issuer and guarantor, U.S. tax treatment as a contingent payment debt instrument, and limited secondary market liquidity.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 indices and pay contingent monthly coupons subject to observation triggers.

Each note has a $1,000 face amount and may be automatically called on specified quarterly call observation dates if each underlier is at or above its initial level. Coupons are payable only when each underlier is at or above 80% of its initial level; principal protection at maturity is limited and depends on the lesser performing underlier relative to a 70% trigger buffer. Trade date is July 2, 2026, original issue date July 8, 2026, and stated maturity July 7, 2028.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering autocallable S&P 500Index-linked notes due 2031. Each note has a $1,000 face amount, 100% upside participation and will be automatically called on the call payment date if the S&P 500closing level on the call observation date is greater than or equal to the initial level.

If automatically called, holders receive $1,080 per $1,000 on the call payment date. If not called, at maturity the cash settlement equals $1,000 plus participation in positive index performance or the $1,000 face amount if the underlier return is zero or negative. Trade date is July 10, 2026 and stated maturity is July 15, 2031. The notes do not pay interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. offers leveraged callable S&P 500Futures Excess Return Index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount denomination, a 150% upside participation rate and an expected trade date of July 28, 2026. The notes pay no interest, may be redeemed at issuer option on monthly call payment dates beginning in August 2027 at specified capped call premium amounts, and at final maturity (expected July 31, 2031) will pay par plus 1.5 times any positive index return based on the S&P 500Futures Excess Return Index; if the index return is zero or negative, holders receive only the face amount. The estimated value at pricing is $885 to $935 per $1,000, below the original issue price. Purchasers bear issuer and guarantor credit risk and structural risks including negative roll yields, market-disruption adjustments, tax rules for contingent payment debt instruments and potential illiquidity.

GS Finance Corp. offers leveraged buffered S&P 500 Index‑linked notes due 2028 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and mature in August 2028, with payment tied to the S&P 500 performance from the trade date to the determination date. The notes provide a 10% buffer (buffer level = 90% of the initial underlier level) that converts certain declines into positive returns up to the buffer; above the buffer investors suffer losses proportional to the underlier decline. The notes offer a stated 300% upside participation rate subject to a maximum upside settlement amount of at least $1,207.50 per $1,000 face amount. Trade date and original issue date are set as July 31, 2026 and August 5, 2026, respectively. Payment mechanics, credit risk of the issuer and guarantor, limited upside and potential for substantial principal loss are described.

GS Finance Corp. is offering principal-at-risk notes linked to the Invesco S&P 500® Equal Weight ETF with payment at maturity tied to the ETF’s performance. For each $1,000 face amount, investors may receive a capped upside (subject to a $1,110 maximum) if the final underlier level exceeds the initial level, receive the face amount if the final level is within 10% below the initial level, or suffer a proportional loss if the final level declines more than 10%. The notes pay no interest, have an original issue price equal to face amount less a 2% underwriting discount, and mature on September 15, 2027 (determination date September 10, 2027). The notes are senior debt of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and expose investors to issuer/guarantor credit risk and market/underlier risks.

GS Finance Corp. offers $1,000 face‑amount structured notes linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and provide leveraged upside (200% participation) capped at a maximum settlement amount of at least $1,250 per $1,000 face amount. A 10% buffer protects against losses up to that threshold: if the final index level is at or above 90% of the initial level you receive the face amount; if the index falls more than 10% below the initial level you suffer principal loss proportionate to the decline. Trade date is July 28, 2026, original issue date is July 31, 2026, determination date is January 29, 2029 and stated maturity date is February 1, 2029. The pricing supplement states the original issue price will exceed the notes’ model-derived estimated value and that secondary market liquidity is not assured.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes linked to the common stock of Eli Lilly and Company (Bloomberg: LLY UN). Each note has a $1,000 face amount, pays a contingent monthly coupon of $12.292 per $1,000 when the underlier meets a 67% coupon trigger, and may be automatically called early if the underlier closes at or above the initial level on any call observation date. If not called, the cash settlement at maturity depends on the final underlier level: investors receive $1,000 if the final level is at or above the 67% trigger buffer, but will incur losses proportional to the underlier return if the final level is below that buffer, including a possible total loss of principal. Trade date is July 10, 2026, original issue date July 15, 2026, and stated maturity is August 13, 2027. The notes are senior unsecured obligations of GS Finance Corp., unlisted, and guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due July 6, 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Coinbase Global, Inc. (ticker COIN). Coupons equal $26.334 per $1,000 (2.6334% monthly; potential ~31.60% per annum) and are paid only when the underlier's closing level on an observation date is at or above the coupon trigger level of 50% of the initial underlier level. The initial underlier level is $149.06 (closing level on June 26, 2026). The notes will be automatically called on quarterly call observation dates if the underlier's closing level is greater than or equal to the initial underlier level; if not called, the cash settlement at maturity is tied to the final underlier level with a trigger buffer of 50% of the initial underlier level. Investors may lose their entire investment if the final underlier level is below the trigger buffer. Pricing, underwriting discounts and exact aggregate face amount are set on the trade date or in the cover and are not stated in this excerpt.

GS Finance Corp. is offering $Autocallable Goldman Sachs Momentum BuilderFocus ER Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc.. The notes feature a 300% upside participation rate and an automatic call on the call observation date if the index closing level is greater than or equal to the initial index level; an automatic-call payment would deliver $1,100 per $1,000 on the call payment date. If not called, maturity cash settlement depends on index performance: for positive index returns, holders receive $1,000 + $1,000

The issuer, GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.), proposes structured, non‑interest bearing notes linked to the Class C shares of Alphabet, Class A shares of Meta and common shares of NVIDIA. The notes have a $1,000 face amount per note and an automatic call feature: if each index stock closes at or above 90% of its initial price on the call observation date, holders will receive at least $1,280 per $1,000 face amount on the call payment date. If not called, the maturity payment (expected August 4, 2031) depends solely on the performance of the lesser performing index stock, with upside participation of 125% in positive outcomes and repayment of $1,000 if any index stock finishes at or below its initial price. The issuer discloses an estimated value range at pricing of $885–$935 per $1,000 face amount on the trade date and identifies material risks including issuer/guarantor credit risk, limited anti‑dilution protection, calculation agent discretion, potential lack of secondary market liquidity and differences between estimated value and issue price.

GS Finance Corp. is offering Market Linked Notes—Upside Participation to a Cap and Principal Return at Maturity linked to the Dow Jones Industrial Average® with a $1,000 face amount per note and a stated maturity date of April 3, 2029. The notes repay principal at maturity and provide 100% participation in any increase of the underlier from the starting level to the ending level, subject to a maximum return of 17.60% (maximum maturity payment of $1,176.00 per note). The pricing date was June 29, 2026, the original issue date is July 2, 2026, and GS&Co. estimated the notes' value at about $966 per $1,000 face amount at pricing. All payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.; there are no periodic interest payments and no shareholder rights in the underlier.

GS Finance Corp. is offering structured monthly-coupon notes linked to five large-cap stocks (AMD, Amazon, Alphabet Class C, Intel, NVIDIA). The notes have a $1,000 face amount per note, an expected trade date of July 6, 2026, and an expected stated maturity of July 11, 2029. Coupons of $8.292 per $1,000 (0.8292% monthly; potential ~9.95% per annum) are paid for any coupon observation date on which each index stock closes at or above 70% of its initial index stock price. The notes are automatically called if, on any call observation date, each index stock closes at or above its initial index stock price; called notes pay the face amount plus the coupon then due. Estimated value at pricing is expected between $925 and $955 per $1,000 face amount. Payments are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc., and subject to their credit risk. The calculation agent (Goldman Sachs & Co. LLC) has broad discretion over price determinations and anti-dilution adjustments.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering contingent monthly‑coupon, autocallable notes linked to the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER. Coupons of $15.417 per $1,000 may be paid monthly if the index closes at or above 70% of the initial level (initial underlier level: 851.17). The notes mature on July 2, 2032 unless automatically called quarterly beginning December 2026 if the index closes at or above the initial level.

Index features include a 40% volatility target, up to 500% maximum leverage, a daily 4.0% per annum decrement, and caps on daily leverage changes. Estimated value at pricing was approximately $962 per $1,000 face amount; original issue price is 100% with a 0.8% underwriting discount.

GS Finance Corp. priced $12,316,000 of Performance Leveraged Upside (PLUS) notes due December 30, 2026, payable based on a weighted basket of seven components including ETFs and the EURO STOXX 50® Index. Each $1,000 PLUS provides 200% leveraged upside above an initial basket value of 100, subject to a $1,069 cap, and bears no interest. If the final basket value is below 100, principal is reduced 1% for each 1% decline in the basket; there is no minimum payment. The notes are unsecured obligations of GS Finance Corp. and are fully guaranteed by The Goldman Sachs Group, Inc.

The notes are principal-at-risk, S&P 500® linked structured notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. They have an aggregate face amount of $5,903,000, a stated maturity date of July 28, 2027, and rely on the arithmetic average of ten averaging dates in July 2027 to determine payoff.

Holders receive no interest. If the final index average exceeds the initial level (7,358.22 set on June 24, 2026), payment equals $1,000 plus 150% participation in the index return capped at a $1,131 maximum settlement amount. If the final level is between 90% and 100% of the initial level, holders receive the $1,000 face amount. If the final level falls below 90% of the initial level, losses are linear below the buffer and holders can lose a substantial portion of principal.

GS Finance Corp. priced S&P 500 Daily Risk Control 5% USD Excess Return Index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes are non‑interest bearing, have an upside participation rate of 175% and a maximum downside settlement amount of $2,000 per $1,000 face amount.

The trade date was June 29, 2026, the original issue date is July 2, 2026, and the determination date is scheduled for June 29, 2029. The estimated value at pricing was approximately $966 per $1,000 face amount. Payments at maturity depend on the Excess Return index performance and are subject to the issuer and guarantor credit risk.

GS Finance Corp. offers Market Linked Securities tied to the S&P 500® Index due July 5, 2028. Each $1,000 face amount security was offered at $1,000 and provides 125% upside participation capped at 21.25% (maximum maturity payment $1,212.50). The securities include a 10% buffer — losses up to 10% of index decline are absorbed, but declines beyond the buffer expose investors 1-to-1 and can result in up to 90% loss of face amount. The pricing date was June 29, 2026, original issue date July 2, 2026, and calculation day is June 29, 2028. The estimated value at pricing was approximately $969 per $1,000 face amount and payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. priced principal-protected indexed notes linked to the S&P 500® Index with a five-year term. For each $1,000 face amount, the cash payment at maturity depends on the final index level versus the initial level: full face amount if decline is within a 10% buffer; upside participation of 125% up to a $1,565 cap if the index rises; and proportional losses beyond the buffer if the index falls more than 10%. The notes pay no interest and are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc. The original issue price equals 100% of face amount with a 4.1% underwriting discount.

Terms include Trade Date June 29, 2026, Determination Date June 30, 2031 (subject to adjustment) and Stated Maturity July 3, 2031. These notes are part of the Medium-Term Notes, Series F program and are described in this pricing supplement and referenced prospectus materials.

The pricing supplement describes $1,000 face‑amount Autocallable Goldman Sachs Momentum Builder® Focus ER Index‑Linked Notes due July 11, 2031, issued by GS Finance Corp.The Goldman Sachs Group, Inc. The notes pay no interest, are automatically called if the index closes at or above 101% of the initial level on an observation date, participate 100% in upside through an upside participation rate, and, if not called, repay at maturity an amount tied to the index return (floor at 100% of face amount). The index applies daily rebalancing, a 5% realized volatility control, momentum risk control and a 0.65% per annum deduction. GS&Co.'s estimated trade‑date value is $885–$925 per $1,000 (less than issue). Key dates: trade date July 8, 2026, original issue date July 13, 2026, determination date July 8, 2031.

GS Finance Corp. offers autocallable contingent coupon equity-linked notes due August 13, 2027 guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Eli Lilly and Company (Bloomberg: LLY UN) and pay a contingent monthly coupon of $10.292 per $1,000 face amount when the underlier meets the 67% coupon trigger on observation dates. If not called, principal at maturity depends on the final underlier level relative to a 67% trigger buffer: at or above the buffer you receive $1,000; below it you receive $1,000 plus $1,000×(underlier return), which can result in a total loss of principal.

The notes may be automatically called on call observation dates if the underlier closes at or above the initial underlier level; trade date is July 10, 2026 and original issue date is July 15, 2026. The notes are unsecured senior debt of GS Finance Corp., guaranteed by Goldman Sachs, carry issuer and guarantor credit risk, and are not bank deposits or FDIC insured.

GS Finance Corp. offers index‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and a $1,130 maximum settlement amount. The notes pay no interest and repay either the maximum settlement amount if both underliers finish at or above their initial levels, or the $1,000 face amount if any underlier finishes below its initial level.

The notes reference the Russell 2000® Index and the S&P 500® Index; trade date is July 15, 2026, original issue date is July 20, 2026, determination date is June 27, 2028 and stated maturity date is June 30, 2028. The calculation agent is Goldman Sachs & Co. LLC. The offering materials emphasize credit risk of the issuer and guarantor, limited upside (cap at $1,130), no interest, and potential secondary‑market illiquidity.

GS Finance Corp. is offering autocallable buffered notes linked to the iShares® Semiconductor ETF (SOXX) guaranteed by The Goldman Sachs Group, Inc. The notes mature on July 6, 2028 but will be automatically redeemed if the ETF closing level on the call observation date (expected July 13, 2027) is greater than or equal to the initial level of $640.76, producing a capped cash payment of $1,403.7 per $1,000 face amount on the call payment date.

The notes feature a 20% downside buffer (buffer level = 80% of the initial level; buffer rate = 125%) at maturity: if the final ETF level is up, holders receive 100% participation; if the final level declines up to 20%, holders receive the $1,000 face amount; if it falls more than 20%, losses apply at 1.25% of face per 1% decline below 80% of the initial level. The estimated value at pricing is $900–$930 per $1,000 face amount. Credit risk, tax characterization as a pre-paid derivative contract, limited market liquidity, and model/valuation assumptions are highlighted as principal risks.