Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. is offering index-linked notes due June 28, 2029 that pay at maturity based on the lesser performing of the Russell 2000® and the S&P 500® as measured from the trade date June 25, 2026 to the determination date June 25, 2029. The notes do not bear interest. If both underliers finish flat or higher, the payoff equals $1,000 plus $1,000 times the lesser performing return times a 102% participation rate. If the lesser performing underlier finishes down but at or above 85% of its initial level (the buffer), the absolute value of that decline is credited. If the lesser performing underlier falls below 85% of its initial level, the payoff applies the lesser performing return plus a 15% buffer amount, which can still produce large losses. The initial underlier levels are 3,007.858 (Russell 2000) and 7,357.49 (S&P 500). The estimated value on the trade date was approximately $963 per $1,000 face amount. Original issue price is 100% of face amount with an underwriting discount of 3% and net proceeds of 97% of face amount. The aggregate face amount on issue is $1,052,000. These are unsecured notes guaranteed by The Goldman Sachs Group, Inc.; payments are subject to issuer and guarantor credit risk.

GS Finance Corp. priced two separate buffered index-linked note offerings guaranteed by The Goldman Sachs Group, Inc. The offerings total $2,716,000 in aggregate face amount across two tranches: $1,686,000 linked to the S&P 500® (initial level 7,357.49) and $1,030,000 linked to the Russell 2000® (initial level 3,007.858). Each note has a 5-year term (trade date June 25, 2026, stated maturity June 30, 2031), 100% upside participation, a 15% buffer (buffer level 85% of initial), and a capped payout (maximum settlement amounts of $1,652.5 and $2,067.5 per $1,000 face, respectively). Original issue price is 100% of face; underwriting discount is 4.125%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering medium-term contingent coupon notes linked to the VanEck Semiconductor ETF (SMH). The notes have a $3,354,000 aggregate face amount, an original issue price of 100% of face, and potential quarterly coupons of $40.375 per $1,000 (4.0375% quarterly; up to 16.15% per annum) when the underlier is at or above 80% of its initial level. Coupons are contingent on each coupon observation date and may be $0 if the underlier closes below the 80% trigger. At maturity, principal is protected only if the final underlier level is at or above the 80% buffer; otherwise, investors suffer downside linked to the underlier return subject to a 20% buffer and a 100% buffer rate. The issuer may redeem notes on coupon payment dates beginning December 2026. Pricing supplement dated June 25, 2026.

The issuer GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium-term, non-interest bearing notes linked to the S&P 500® Futures Excess Return Index. For each $1,000 face amount, investors receive on maturity either: (a) $1,000 + $1,000 × 190% × underlier return if the final underlier level is above the initial level; (b) $1,000 if the final level is between 70% and 100% of the initial level; or (c) $1,000 × final/initial if the final level is below 70%, exposing holders to full principal loss if the underlier falls enough. Key dates: trade June 25, 2026, original issue June 30, 2026, determination June 25, 2031, stated maturity June 30, 2031. The original issue price is 100% of face; underwriting discount is 4.125%. The notes are priced below model-estimated value and are subject to issuer and guarantor credit risk, market/roll-yield effects of futures, limited liquidity, tax uncertainty, and possible market-disruption adjustments.

GS Finance Corp. is offering structured medium-term notes linked to the Class A common stock of Coinbase Global, Inc. The offering covers an aggregate face amount of $350,000 in notes issued in $1,000 face-amount increments. The notes pay no interest and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

Key economic terms: trade date June 25, 2026, original issue date June 30, 2026, determination date December 27, 2027, stated maturity date December 30, 2027, initial underlier level $150.11, trigger buffer level 60%, maximum settlement amount $1,540 per $1,000 face. If the final underlier level is below the trigger buffer level, investors suffer a loss equal to the underlier return times the face amount and could lose their entire investment.

GS Finance Corp. is offering leveraged, buffered notes linked to the S&P 500® Futures Excess Return Index, with an upside participation rate of at least 126%, a 15% buffer (buffer level = 85% of the initial underlier level) and cash settlement per $1,000 face amount. The notes pay no interest and mature on February 5, 2029 (determination date January 31, 2029). The trade date is July 31, 2026 and original issue date is August 6, 2026. Returns at maturity depend on the final underlier level versus the initial level and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering $52,521,000 of medium-term notes, guaranteed by The Goldman Sachs Group, Inc. The notes pay no periodic interest, have a 100% upside participation rate, an automatic call if the index closes at or above 101% of the initial index level, and a stated maturity of June 30, 2033. The notes reference the Goldman Sachs Momentum Builder® Focus ER Index (GSMBFC5 Index), whose methodology may allocate substantial exposure to hypothetical cash positions and is subject to a 0.65% per annum deduction (accruing daily). The trade-date estimated value is $897 per $1,000 face amount; the original issue price equals face amount with an underwriting discount of 4.375%. Key investor considerations include issuer/guarantor credit risk, potential automatic early redemption on specified call observation dates, capped call payments, and the index’s multi-layer volatility and momentum control features that can materially reduce index upside.

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 have a 100% upside participation rate, a trade date of July 17, 2026 and a stated maturity of July 22, 2033. GS&Co. estimates the notes' value on the trade date at $850 to $880 per $1,000 face amount. Annual automatic call observation dates run from July 20, 2027 through July 20, 2032 with increasing call levels and minimum call premiums (e.g., 100.75% / at least 11.75% on the first date; 104.50% / at least 70.50% on the sixth). The cash settlement at maturity pays the face amount plus upside if the final index level exceeds the initial index level; if the final index level is equal to or below the initial level, holders receive only the face amount.

The notes are linked to the Goldman Sachs Momentum Builder Focus ER Index (Bloomberg: GSMBFC5 Index), which applies a daily rebalancing methodology, a 5% realized volatility control, a momentum risk control mechanism and a 0.65% per annum deduction (accruing daily). The notes do not bear interest and expose investors to the issuer and guarantor credit risk, complex index methodology, potential high allocations to hypothetical cash positions, and tax treatment as contingent payment debt instruments.

GS Finance Corp. and The Goldman Sachs Group, Inc. are offering principal-protected contingent notes linked to the common stock of Broadcom Inc., the Class A common stock of Strategy Inc. (formerly MicroStrategy) and the Class A common stock of Palantir Technologies Inc.. The notes have an expected trade date of July 10, 2026, an original issue date expected to be July 15, 2026, and a stated maturity date expected to be July 13, 2029. Each $1,000 face amount note references one share initial reference amount and pays monthly coupons only when each index stock meets a coupon trigger (50% of its initial price) on coupon observation dates.

The notes include an automatic call (monthly observation window commencing July 2027) that redeems at par plus any coupon if, on a call observation date, the closing price of each index stock is greater than or equal to its initial price. If not called, final payment depends on whether a trigger event occurs (all final prices below initial prices). If a trigger event occurs, the maturity payment is tied to the lesser performing index stock return and may be significantly less than principal. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, The Goldman Sachs Group, Inc. The estimated value at pricing is expected to be between $925 and $955 per $1,000 face amount.

GS Finance Corp. priced callable, contingent coupon notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. Each $1,000 note may pay a monthly coupon of $12.50 if the index closing on an observation date is ≥60% of the initial level (481.65). Notes auto-call on a call observation date if the index closing is ≥481.65; maturity is July 2, 2031 if not called. The index applies volatility-targeted leveraged exposure (up to 500%), a cap on daily leverage change (100%), and a daily 6% per annum decrement, which reduces the index level over time. The estimated value at pricing was approximately $925 per $1,000 face amount; original issue price 100%, underwriting discount 4.5%.

GS Finance Corp. offers structured, principal-linked notes guaranteed by The Goldman Sachs Group, Inc. The offering has an aggregate face amount of $797,000 and $1,000 face increments. The notes pay no interest, mature on July 2, 2029 (determination date June 25, 2029), and reference the Nasdaq-100 Index and the Russell 2000 Index.

Payments depend on the lesser performing underlier. An automatic call can occur semiannually if both underliers are at or above their initial levels; call premiums range from 11% to 27.5%. The notes include a 150% upside participation rate, a buffer level of 85% and a buffer amount of 15%. The original issue price is 100% of face amount and the underwriting discount is 3%.

GS Finance Corp. is offering index-linked notes due June 30, 2031, guaranteed by The Goldman Sachs Group, Inc., linked to the lesser performing of the MSCI EAFE and MSCI Emerging Markets indices measured from the trade date June 25, 2026 to the determination date June 25, 2031. For each $1,000 face amount at maturity the cash settlement is determined by the lesser performing underlier return, subject to a 60% trigger buffer and a $1,545 threshold settlement amount. The notes pay no interest; the estimated value on the trade date was approximately $921 per $1,000. Aggregate original face amount is $600,000 and the underwriting discount is 3.35%.

The Goldman Sachs Group, Inc. offers Callable Fixed Rate Notes due July 20, 2029 with an expected original issue date of July 20, 2026. The notes pay interest at 4.75% per annum, with annual interest payment dates expected each July 20 beginning July 20, 2027.

The issuer may redeem the notes in whole, but not in part, on each quarterly redemption date expected on or after July 20, 2027 (each Jan 20, Apr 20, Jul 20, Oct 20) at a redemption price equal to 100% of principal plus accrued interest. Settlement is expected in New York on July 20, 2026. The initial price to public may vary (including below 100% for certain accounts) and underwriting discounts and targeted selling arrangements are described in the pricing supplement. The notes will be issued in book-entry form through DTC, may be subject to FATCA withholding, and contain jurisdictional selling restrictions and FINRA conflict-of-interest disclosures.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers autocallable contingent coupon index-linked notes tied to the S&P 500® and Russell 2000®. The notes trade June 25, 2026, issue June 30, 2026, and mature June 30, 2031, unless automatically called on an observation date between June 2027 and May 2031. Coupons may pay $5.834 per $1,000 on a monthly coupon payment date if the closing level of each index is at or above 80% of its initial level on the related coupon observation date. The notes are automatically called if each index closes greater than or equal to its initial level (S&P 500 initial 7,357.49; Russell 2000 initial 3,007.858) on a call observation date, in which case holders receive principal plus the coupon on the call payment date. At maturity (if not called), the cash settlement depends on the lesser performing index return and applies a 15% buffer (buffer level = 85% of initial); if the lesser performing index return is below -20% (under 80% of initial), holders suffer principal loss. The estimated value on the trade date is approximately $959 per $1,000 face amount; original issue price is 100% with a 3.75% underwriting discount. These notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering principal-at-risk, non‑interest bearing notes linked to an equally weighted basket of seven stocks; the initial basket level is 100. The notes mature on July 7, 2028 unless automatically called on the call observation date (expected July 15, 2027), in which case each $1,000 face amount will be redeemed for at least $1,237. If not called, final payment at maturity depends on the basket return: a positive return pays 125% participation on upside, returns between the initial level and the 85% buffer pay principal, and declines below the buffer expose holders to losses calculated using a buffer rate of approximately 117.65%. The notes are unsecured obligations of GS Finance Corp. with a guarantee from The Goldman Sachs Group, Inc. and have an estimated value on the trade date of $900–$930 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-protected, S&P 500®-linked medium-term notes with a capped upside. For each $1,000 face amount, the cash payment at maturity will equal $1,000 plus the underlier return if positive, subject to a $1,195 maximum settlement amount; if the final underlier level is equal to or below the initial level, you receive the $1,000 face amount. The notes pay no interest. The trade date is June 25, 2026, original issue date is June 30, 2026, determination date is March 26, 2029 and stated maturity is March 29, 2029. The issuer sold the notes to GS&Co. at 100% of face amount less a 2% underwriting discount (net proceeds 98% of face).

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering two separate leveraged buffered index‑linked note tranches linked to the S&P 500® and Russell 2000® indices. Each tranche is a non‑interest bearing note with defined trade date June 25, 2026, original issue date June 30, 2026, and stated maturities of December 29, 2028 (SPX) and December 30, 2027 (RTY).

Payments at maturity per $1,000 face depend solely on the applicable index closing level on the determination date, subject to a buffer (10% / 90% of initial level) and a capped upside (maximum settlement amounts of $1,242.5 and $1,240). The notes expose holders to issuer/guarantor credit risk and model valuation/secondary‑market liquidity considerations.

GS Finance Corp. is offering index-linked notes due expected July 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the better performing of TOPIX and the S&P 500® Futures Excess Return Index measured from the trade date (expected June 29, 2026) to the determination date (expected June 30, 2031). For each $1,000 face amount, if at least one index finishes >= its initial level you receive $1,000 plus 120.25% of the better performing index return; if both finish below their initial levels but at least one is >= 70% of its initial level you receive $1,000; if both finish below 70% you receive $1,000 plus the better performing index return (which can be less than $700). The estimated value on the trade date is expected to be between $885 and $925 per $1,000 face amount. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. offers principal-at-risk, cash-settled notes linked to the S&P 500® Futures Excess Return Index with an $1,000 face amount per note and an aggregate face amount of $901,000. Payments at maturity depend on the underlier return from the trade date to the determination date: if the final underlier level is at or above the initial level, holders receive $1,000 plus 112% of the underlier gain; if the final underlier level falls but remains at or above 85% of the initial level, holders receive $1,000 plus the absolute underlier return; if the final level is below the 85% buffer, holders suffer losses that can be substantial, with the example table showing a cash settlement as low as 15.000% of face when the final underlier level is 0% of the initial level.

The notes pay no interest, are issued at 100% of face with a 2.75% underwriting discount (net proceeds 97.25%), are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and mature in December 2028 (determination date December 26, 2028, stated maturity December 29, 2028).

GS Finance Corp. is offering Index-Linked Notes due July 14, 2031, guaranteed by The Goldman Sachs Group, Inc., with pay‑off tied to the lesser performing of the MSCI EAFE and EURO STOXX 50 indices. For each $1,000 face amount the cash settlement at maturity will be: (1) $1,000 plus the upside participation rate times the lesser performing underlier return if both underliers finish above their initial levels; (2) $1,000 if all final underlier levels are at or above 70% of initial levels; or (3) $1,000 plus the lesser performing underlier return (which can be a full loss) if any final underlier is below 70% of its initial level. The notes pay no periodic interest and are subject to issuer and guarantor credit risk, limited secondary market liquidity, model valuation discounts versus issue price, and U.S. federal income tax uncertainty.

The notes are medium-term, principal‑at‑risk securities issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., that tie cash settlement at maturity to the performance of the S&P 500® Futures Excess Return Index. For each $1,000 face amount the issuer will pay at maturity either a threshold amount of $1,500 or an amount based on the underlier return, with a 30% trigger buffer: if the final underlier level is below the trigger buffer level you suffer losses equal to the underlier decline (you could lose your entire investment). The notes pay no interest and were issued at 100% of face with a 4.125% underwriting discount (net proceeds 95.875%). Trade date was June 25, 2026 and stated maturity is June 30, 2031.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable, principal-protected notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The issue has an aggregate face amount of $618,000, a 300% upside participation rate and a stated maturity of July 2, 2031. Notes pay a capped cash amount if automatically called on the call payment date or, if not called, a cash settlement at maturity tied to the index return with principal preserved if the index return is zero or negative.

GS Finance Corp. is offering $1,000 face‑amount structured notes linked to the S&P 500® Index, due July 28, 2027, and fully guaranteed by The Goldman Sachs Group, Inc. Payment at maturity depends on the arithmetic average of the S&P 500 on 10 averaging dates in July 2027 versus the initial level set on June 24, 2026. Investors receive no interest. Upside is participation at 150% of the underlier return but capped by a $1,131 maximum settlement amount per $1,000 face amount. A 10% buffer applies: if the final averaged index level is at or above 90% of the initial level you receive the face amount; if below the buffer you absorb losses equal to 1% per 1% decline beyond the buffer.

GS Finance Corp. is offering autocallable buffered notes linked to the State Street® SPDR® S&P® Metals & Mining ETF (XME), guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of July 2, 2026, an expected original issue date of July 7, 2026, an expected call observation date of July 15, 2027 (call payment date July 20, 2027) and an expected stated maturity date of July 7, 2028.

The notes pay no interest. If automatically called, each $1,000 face amount will pay at least $1,178.4. If not called, maturity payoff depends on the ETF return: positive returns receive 150% participation, declines up to 25% return principal, and declines beyond 25% expose holders to downside at a 133.33% buffer rate. The estimated model value at pricing is between $900 and $930 per $1,000 face amount.

GS Finance Corp. is offering leveraged, index-linked medium-term notes due 2031 guaranteed by The Goldman Sachs Group, Inc. Each note’s cash payment at maturity ties to the S&P 500® Futures Excess Return Index performance from the trade date to the determination date, with an upside participation rate of at least 220% and a 30% trigger buffer (trigger buffer level: 70% of initial underlier level). If the final underlier level is above the initial level, holders receive $1,000 plus the upside participation times the underlier return; if the final level is between the trigger buffer and the initial level, holders receive $1,000; if the final level is below the trigger buffer level, holders suffer proportional losses and could lose their entire investment. Trade date is July 31, 2026 and stated maturity is August 5, 2031.

GS Finance Corp. is offering autocallable contingent-coupon equity-linked notes due June 29, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference Class A common stock of Coinbase Global, Inc. (underlier initial level $149.06 as of June 26, 2026). Coupons are contingent quarterly payments of $79 per $1,000 face amount (7.9% quarterly, potential up to 31.6% per annum) when the underlier is at or above a 50% coupon trigger level. The notes are automatically called if the underlier is at or above the initial level on any call observation date. At maturity the cash settlement depends on the final underlier level relative to a 50% trigger buffer; investors can lose up to their entire investment.

GS Finance Corp. is offering $ Buffered S&P 500® Index-Linked Notes due August 5, 2031, guaranteed by The Goldman Sachs Group, Inc.. Each note has a $1,000 face amount and pays no interest; the cash payment at maturity depends on S&P 500 performance from the July 31, 2026 trade date to the July 31, 2031 determination date.

If the final index level exceeds the initial level, holders receive the face amount plus the upside participation rate (stated as at least 100%) times the index return. If the final level is down but not below 85% (the buffer level) of the initial level, holders receive the face amount. If the final level is below the buffer, holders incur losses proportional to the index decline below the buffer and may lose a substantial portion of their investment. Investors bear the credit risk of GS Finance Corp. and its guarantor.

The pricing supplement describes GS Finance Corp. offering autocallable contingent coupon index-linked notes due January 11, 2029, guaranteed by The Goldman Sachs Group, Inc.. The notes reference the Russell 2000® Index and the S&P 500® Index and pay a contingent monthly coupon of $6.875 per $1,000 face amount when each underlier is at or above a coupon trigger level equal to 70% of its initial level.

If not called, the payment at maturity is cash based on the performance of the lesser performing underlier on the determination date; if that underlier is below the trigger buffer level (also 70% of initial), the cash settlement equals $1,000 plus $1,000 times the lesser performing underlier return, which could result in a total loss of principal. The notes can be automatically called on any call observation date if both underliers are at or above their initial levels, in which case holders receive $1,000 plus any then-due coupon.

GS Finance Corp. offers index-linked notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Russell 2000® and S&P 500® and repay at maturity based on the lesser performing index from the trade date (expected July 28, 2026) to the determination date (expected August 30, 2027). For each $1,000 face amount, repayment depends on the lesser performing index return, subject to a buffer (90% buffer level / 10% buffer amount) and a maximum settlement amount (at least $1,180). If the lesser performing index falls below its buffer level, investors can incur substantial losses of principal. The estimated value at term-setting is between $925 and $965 per $1,000 face amount.

The issuer, GS Finance Corp., is offering callable structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER with expected trade date June 29, 2026 and expected maturity July 2, 2032. Coupons of $15.417 per $1,000 (monthly 1.5417%, ~18.5% p.a.) are payable only on monthly coupon payment dates when the index closing level is ≥ 70% of the initial underlier level. Notes are automatically called if the index on any quarterly call observation date is ≥ the initial level; if not called, the cash settlement at maturity varies with the final underlier return and can be as low as 0% of face amount. The index applies up to 500% leverage, a cap on daily leverage change of 100%, and a 4.0% per annum daily decrement, which reduces net index performance. The estimated value at terms is between $885 and $925 per $1,000 face amount.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due June 29, 2029 with an interest rate of 4.8% per annum, payable semiannually on June 29 and December 29 (first payment December 29, 2026). The notes were issued at an initial price of 100% for an aggregate principal amount of $13,105,000. The issuer may redeem the notes in whole (but not in part) on quarterly redemption dates on or after June 29, 2027, at a redemption price equal to principal plus accrued interest, with at least five business days’ notice. Sales will settle through DTC in immediately available funds; the notes are book-entry only except in limited circumstances. The underwriting discount is 0.409% and estimated gross proceeds before expenses to the issuer are $13,051,400.55.

The Goldman Sachs Group, Inc. is offering $2,000,000 aggregate principal amount of fixed rate senior notes due June 29, 2033. The notes bear interest at 4.90% per annum from the original issue date June 29, 2026, payable semiannually on June 29 and December 29.

The notes will be issued at 100% of principal with an underwriting discount of 0.85%, net proceeds to the issuer of 99.15%, will not be listed, and will be held in book-entry form through DTC. Goldman Sachs & Co. LLC is the calculation agent and initial purchaser.

GS Finance Corp. offers Dual Directional Trigger PLUS linked to the MSCI Emerging Markets Index with expected pricing on or about June 30, 2026 and expected stated maturity of October 5, 2027. Each Trigger PLUS has a stated principal amount of $1,000 and provides 200.00% leveraged exposure to positive index performance up to a maximum upside payment of at least $1,254.00 per Trigger PLUS (at least 125.40% of principal). If the final index value is between the initial index value and the trigger level (which is 80.00% of the initial index value), investors receive a positive payment equal to the absolute index decline (capped at 20.00%). If the final index value is below the trigger level, holders suffer a proportional loss of principal and could lose their entire investment. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and the Trigger PLUS are not listed.

The Goldman Sachs Group, Inc. is offering $5,000,000 of fixed rate notes due June 29, 2029 that pay 4.50% per annum interest from the original issue date to but excluding the stated maturity date. Interest is payable every June 29 and December 29, commencing December 29, 2026.

The notes will be issued at an original issue price of 100% with an underwriting discount of 0.45% (net proceeds 99.55%). The notes will not be listed, are not bank deposits and are not FDIC insured; Goldman Sachs & Co. LLC is calculation agent and initial purchaser. Timing and distribution follow the terms in the pricing supplement and accompanying prospectus.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2030 that pay interest at 4.825% per annum from and including the original issue date (expected July 17, 2026) to but excluding the stated maturity date (expected July 17, 2030). Interest is payable annually on expected interest payment dates of July 17, with the first payment expected on July 17, 2027. The issuer may redeem the notes in whole (not in part) on expected quarterly redemption dates on or after July 17, 2028, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days' prior notice. The notes will be issued in book-entry form through DTC and are a new issue with no established trading market; settlement is expected in New York on July 17, 2026. FATCA withholding rules apply.

The Goldman Sachs Group, Inc. proposes callable fixed rate notes bearing interest at 5.75% per annum, with an expected original issue date of July 20, 2026 and an expected stated maturity date of June 29, 2046. Interest is payable annually each July 20, beginning on July 20, 2027. The issuer may redeem the notes in whole (but not in part) on scheduled quarterly redemption dates beginning on or after July 20, 2029, at a redemption price equal to 100% of principal plus accrued interest.

The notes will be issued in book-entry form through DTC and settle in immediately available funds. The initial public offering price, underwriting discount and proceeds are to be set in the pricing supplement; the pricing text indicates the initial price to public may vary below 100% for certain accounts. Settlement is expected in New York on July 20, 2026.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes that pay 5.10% interest per annum. The notes are expected to be issued on July 20, 2026 and have an expected stated maturity of June 29, 2033. Interest is payable annually on each expected interest payment date of July 20, with the first payment expected on July 20, 2027.

The issuer may redeem the notes at its option, in whole but not in part, on expected quarterly redemption dates beginning on or after January 20, 2028, at a redemption price equal to 100% of principal plus accrued and unpaid interest. The notes will be issued in book-entry form through DTC and are a new issue with no established trading market.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due July 20, 2046 that pay interest at 6.00% per annum, with interest expected to accrue from the original issue date (expected July 20, 2026) and be paid annually each July 20 beginning July 20, 2027. The issuer may redeem the notes in whole, but not in part, on scheduled quarterly redemption dates on or after July 20, 2028 at 100% of principal plus accrued interest, with at least five business days’ prior notice. The notes will be issued in book-entry form through DTC and are a new issue with no established trading market; market-making by underwriters is intended but not guaranteed. The pricing and initial price to public will vary for certain accounts; proceeds and underwriting discounts are shown on the cover and in the Supplemental Plan of Distribution.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due June 28, 2041 that pay interest at 5.60% per annum from the expected original issue date of July 20, 2026. Interest is expected to be paid annually on each July 20, with the first payment on July 20, 2027. The notes are callable in whole, not in part, on expected quarterly redemption dates on or after January 20, 2029, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ prior notice.

The offering will settle through DTC in book-entry form and is a new issue with no established trading market. The pricing supplement and accompanying prospectus and prospectus supplement govern terms; FATCA withholding and U.S. federal income tax rules described in the prospectus apply.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2028 that pay interest at 4.50% per annum, with an original issue date expected to be July 20, 2026 and a stated maturity expected to be July 20, 2028. Interest is payable on each interest payment date (expected July 20 each year), with the first payment expected on July 20, 2027.

The notes are callable at the issuer's option in whole (not in part) on redemption dates expected each January 20, April 20, July 20 and October 20 on or after January 20, 2027, at a redemption price equal to 100% of principal plus accrued interest, with at least five business days' prior notice. The offering is to be issued in book-entry form through DTC; pricing, initial issue price ranges, total principal amount, and detailed underwriting economics are set forth in the pricing supplement and tables in the cover materials.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due June 29, 2029 that pay interest at 4.65% per annum from the expected original issue date of July 20, 2026. Interest is payable annually on each July 20, beginning July 20, 2027. The notes are redeemable at the issuers option in whole (but not in part) on each scheduled redemption date (expected quarterly on or after July 20, 2027) at a redemption price equal to 100% of principal plus accrued interest. The offering will settle through DTC as a master global note and is subject to FATCA withholding rules. The initial price to public and underwriting discounts vary by investor class; market-making sales after the initial sale may occur at prevailing market or negotiated prices. Delivery is expected in New York on July 20, 2026.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2031 that pay interest at 5.10% per annum from (expected) July 17, 2026 to (expected) July 17, 2031. Interest is payable annually (expected each July 17) with the first payment expected on July 17, 2027.

The notes are callable at the issuer's option, in whole but not in part, on scheduled redemption dates (expected each January 17, April 17, July 17 and October 17 on or after July 17, 2027) at a redemption price equal to 100% of principal plus accrued interest. The offering will settle in DTC book-entry form (expected delivery July 17, 2026).

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal‑at‑risk, non‑interest notes linked to a weighted basket of four underliers. The notes have an expected trade date of July 6, 2026, an expected original issue date of July 9, 2026 and an expected stated maturity date of July 10, 2031. For each $1,000 face amount, the cash settlement at maturity depends on a weighted return that applies 40% to the highest basket underlier return, 30% to the second, 20% to the third and 10% to the lowest. If the weighted return is positive, payment equals principal plus the weighted return, capped at a $1,500 maximum settlement amount. If the weighted return is between 0% and -20%, you receive the $1,000 face amount. If the weighted return is below -20%, the cash payment equals $1,000 plus $1,000 times (weighted return + 20%), which can result in substantial principal loss. The estimated value on the trade date is stated between $885 and $925 per $1,000 face amount. The notes do not pay interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering leveraged equity-linked notes due 2028 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Chevron Corporation (Bloomberg: CVX UN) with an initial underlier level of $172.24 set on June 25, 2026. At maturity the cash payment per $1,000 face amount depends on the underlier return from the initial level to the determination date: a positive upside participation (200%) subject to a $1,550 cap, a protected zone where a decline up to 20% produces a positive absolute return, and full downside exposure if the final level falls below 80% of the initial level, potentially resulting in loss of the entire investment. The notes pay no interest and are subject to issuer and guarantor credit risk, limited secondary market liquidity, valuation discounts versus original issue price, and uncertain U.S. federal income tax treatment.

GS Finance Corp. is offering non-interest bearing, principal‑at‑risk notes linked to an equally weighted basket of seven large-cap U.S. stocks: Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA and Tesla. The notes have an expected trade date of July 15, 2026, an original issue date expected to be July 20, 2026, an automatic call observation date expected to be July 28, 2027 and an expected stated maturity date of July 19, 2028.

If the basket closing level on the call observation date is >= the initial level (100), the notes will be automatically called and pay at least $1,153 per $1,000 face amount. If not called, maturity payoffs depend on the basket return: upside participation is 125%, a 15% buffer (buffer level = 85%) applies, and the buffer rate equals approximately 117.65%. The estimated value at pricing is expected to be between $900 and $930 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and subject to issuer and guarantor credit risk.

GS Finance Corp. is offering $1,000 face amount autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index (GSMBFC5 Index). Trade date is July 30, 2026, original issue date August 4, 2026 and stated maturity is August 8, 2033. The notes pay no periodic interest, have an upside participation rate of 100% and are subject to annual automatic call opportunities with rising call levels and corresponding call premiums (first call level 100.75% with at least 12.00% premium; final listed call level 104.50% with at least 72.00% premium). The index applies volatility and momentum controls and a 0.65% per annum deduction; large allocations to hypothetical cash positions can materially reduce index returns. GS&Co. estimates the notes' value on the trade date at $850 to $890 per $1,000 face amount. Investors are exposed to issuer/guarantor credit risk, no shareholder rights, limited secondary market liquidity and U.S. tax treatment as contingent payment debt instruments.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due July 20, 2032 that pay interest at 5.05% per annum from an expected original issue date of July 20, 2026. Interest is expected to be paid annually on July 20, with the first payment expected on July 20, 2027.

The notes are callable by the issuer in whole, not in part, on each scheduled redemption date (expected quarterly on Jan 20, Apr 20, Jul 20 and Oct 20 on or after July 20, 2027) at a redemption price equal to 100% of principal plus accrued interest, subject to at least five business days' notice. The notes will be issued in DTC book-entry form as a new issue; underwriters named include Goldman Sachs & Co. LLC and InspereX LLC. Delivery is expected in New York on July 20, 2026.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due July 20, 2038 that pay interest at 5.45% per annum from the expected original issue date of July 20, 2026. Interest is expected to be paid annually each July 20, with the first payment on July 20, 2027. The notes are callable, in whole but not in part, on each redemption date expected to occur quarterly on or after July 20, 2028, at a redemption price equal to 100% of principal plus accrued interest, subject to at least five business days’ notice. The offering will settle in immediately available funds through DTC and is expected to deliver on July 20, 2026. Other distribution terms, initial price to public, underwriting discounts, and certain investor price adjustments are described in the pricing supplement; FATCA withholding rules apply.

GS Finance Corp. offers contingent income auto-callable securities guaranteed by The Goldman Sachs Group, Inc., maturing December 29, 2028. Each security has a $1,000 principal amount and may pay a contingent quarterly coupon of at least $60.00 per $1,000 if both underlying stocks meet threshold tests; otherwise coupons may be $0.00 and investors can lose a substantial portion or all principal. The securities reference the Class A common stock of Vertiv Holdings Co and the common stock of GE Vernova Inc., feature an automatic call on specified observation dates beginning September 28, 2026, and have a downside threshold equal to 50.00% of each initial share price.