Every 424B that Goldman Sachs Group Inc. (GS) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow GS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GS filings page.
GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp as issuer and Goldman Sachs as guarantor, is offering autocallable contingent coupon index-linked notes due August 23, 2029 linked to the Nasdaq-100 Index®, Russell 2000® Index and S&P 500® Index.
The notes pay a monthly contingent coupon of $10.334 per $1,000 (1.0334% monthly, up to approximately 12.40% per annum) only if, on each observation date, the closing level of every index is at least 70% of its initial level. The same 70% threshold is the trigger buffer for principal: if at maturity any index is below 70% of its initial level, repayment of principal is reduced one-for-one with the worst index’s loss, down to a total loss. The notes are automatically called at par (plus coupon) if on any call observation date each index is at or above its initial level.
Initial index levels are 29,213.16 (NDX), 2,992.434 (RTY) and 7,641.16 (SPX), set on August 20, 2026. The issuer highlights that investors take on the credit risk of GS Finance Corp and The Goldman Sachs Group, Inc., may receive no coupons, may lose their entire investment, and that the estimated value on the trade date will be less than the issue price.
Goldman Sachs Group Inc. (GS) is offering securities linked to the S&P 500® Futures 40% VT Adaptive Response Index (USD) ER (Bloomberg: SPAR4VE). This rules-based index adjusts its exposure daily to the S&P 500® Futures Excess Return Index, using volatility, calendar-based signals and price patterns, subject to a maximum exposure of 500% and a maximum daily change in leverage of 100%.
The index is sponsored and calculated by S&P Dow Jones Indices LLC, is denominated in USD, rebalances daily, and launched on December 27, 2024, with data back to January 4, 2000 that are partly hypothetical. As of the period ended July 31, 2026, the index shows an annualized return of 25.52% over 1 year and 17.12% since January 4, 2021, with annualized volatility around 42%. The materials emphasize that hypothetical and historical performance are not indications of future results and that investments in securities linked to this index involve specific risks.
GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., describes the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER (Bloomberg: SPAR4V4) as the underlier for securities it may offer. The index provides rules-based, volatility-adjusted exposure to the S&P 500® Futures Excess Return Index, with a maximum exposure of 500% and a maximum daily change in leverage of 100%. A 4.0% per annum daily decrement is deducted from index performance.
The index, sponsored and calculated by S&P Dow Jones Indices LLC, rebalances daily, is USD‑denominated, was launched on December 27, 2024, and has data available since January 4, 2000 (largely hypothetical before launch. For the period ended July 31, 2026, the index shows annualized returns of 20.55% (1-year) and 12.46% since January 4, 2021, with annualized volatility around 42%. Index exposure to the S&P 500® Futures Excess Return Index was 318.39% on July 31, 2026. The disclosure emphasizes that much of the performance history is hypothetical and that investment in linked securities involves risks detailed in the related offering documents.
GOLDMAN SACHS GROUP INC (GS) provides an index supplement addendum describing the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER (SPAR4V6), a rules-based strategy that adjusts daily exposure to the S&P 500® Futures Excess Return Index with volatility, calendar and price-pattern signals, capped at 500% exposure and a maximum daily leverage change of 100%, and reduced by a daily 6.0% per annum decrement.
For the period ended July 31, 2026, the index shows annualized returns of 18.14% (1-year), 3.82% (3-year), 2.24% (5-year) and 10.21% since January 4, 2021, with corresponding annualized volatilities around 42–43%. Over the same horizons, the S&P 500® Index returned 18.15%, 17.74%, 11.25% and 13.50%, while the S&P 500® Futures Excess Return Index returned 14.12%, 13.06%, 8.15% and 10.77%. On July 31, 2026, the index’s exposure to the S&P 500® Futures Excess Return Index was 318.39%. The document highlights that much of the performance record is based on hypothetical back-tested data and emphasizes investment risks for securities linked to this index.
GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering market-linked, auto-callable notes due August 31, 2029, linked to the lowest performing of the S&P 500® Index, Russell 2000® Index and EURO STOXX 50® Index. Each security has a $1,000 face amount, pays no interest and is guaranteed by The Goldman Sachs Group, Inc.
The notes may be automatically called quarterly starting September 2, 2027 if the lowest performing index is at or above its starting level, paying the $1,000 face amount plus a call premium of at least 14.00%–42.00% depending on the call date. If not called, maturity repayment depends only on the worst index: investors receive $1,000 if the worst index is down no more than the 25.00% threshold amount (ending level at or above 75.00% of starting level), and otherwise receive $1,000 times that index’s performance factor, with losses up to 100% of principal.
The securities do not pay dividends or periodic interest, are designed to be held to maturity and are subject to the unsecured credit risk of GS Finance Corp and the guarantee of The Goldman Sachs Group, Inc. The issuer’s estimated value on the pricing date is expected to be $925–$955 per $1,000 face amount, below the $1,000 original offering price.
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 (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 autocallable contingent coupon notes linked to the S&P 500 Index under its Medium-Term Notes, Series F program. The notes are fully and unconditionally guaranteed by Goldman Sachs Group Inc. and are scheduled to mature on August 26, 2031, unless automatically called earlier.
Investors receive a $21 contingent quarterly coupon per $1,000 (2.1% quarterly, up to 8.4% per year) only if the S&P 500 closing level on each observation date is at or above 60% of the initial index level. The notes are automatically called if the S&P 500 is at or above its initial level on any call observation date, returning $1,000 per note plus the due coupon. At maturity, if not called, principal is protected only down to a 60% trigger buffer level; below that, repayment is reduced one-for-one with the index decline, and investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on an exchange, may have limited liquidity, and are initially priced above their model-based estimated value.
GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering auto-callable, index-linked notes due around September 3, 2031 that pay no interest and are fully principal-protected at maturity if held to term. Returns depend on the Goldman Sachs Momentum Builder® Focus ER Index.
The notes may be automatically called annually from 2027–2030 if the index closes at or above preset call levels (from 101% to 104% of the initial index level), paying back $1,000 plus a fixed call return (from 14.8% up to 59.2%). If never called, at maturity each $1,000 note pays $1,740 (a 74% cap) if the final index level is at least 105% of the initial level, and $1,000 otherwise.
The underlying index is a rules-based, volatility- and momentum-controlled index of futures-based equity, fixed income, commodity indices and a return-based money market position, calculated on an excess return basis over the federal funds rate and reduced by a 0.65% per annum deduction. The issuer discloses an estimated initial economic value of $850–$890 per $1,000 note, below the issue price, and highlights credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., limited upside, potential illiquidity and complex tax treatment as key risks.
Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering Autocallable Nasdaq-100 Index®-Linked Notes due 2028 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by Goldman Sachs.
The notes are linked to the Nasdaq‑100 Index® and pay no interest. They may be automatically called on September 3, 2027 if the index level on August 31, 2027 is at or above the initial level; in that case investors receive at least $1,130 per $1,000 face amount and the investment ends early. If not called, at maturity on August 29, 2028 investors receive: (i) $1,000 plus 150% of any positive index return; (ii) $1,000 if the final index level is between 75% and 100% of the initial level; or (iii) $1,000 plus the full index return (one-for-one loss) if the index finishes below 75%, which can lead to a total loss of principal.
The notes are subject to the credit risk of GS Finance Corp. and Goldman Sachs, will not be listed on any exchange, and market-making, if any, will be by affiliates. The underwriting discount is 2% of face amount. The estimated value at pricing is lower than the issue price, and U.S. tax treatment is uncertain; counsel views them as a pre‑paid derivative contract on the index.
GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering S&P 500 Futures Excess Return Index-linked notes due August 30, 2029. Each note has a $1,000 face amount and pays no interest. At maturity, holders receive the greater of $1,000 or $1,000 plus the index return, capped at a maximum settlement amount of $2,060 per $1,000.
The underlier is the S&P 500 Futures Excess Return Index, which tracks E-mini S&P 500 futures, not the S&P 500 Index itself. The payoff depends on futures performance, which is affected by financing costs, negative roll yield and other futures-specific dynamics, so returns may differ from owning S&P 500 stocks. The notes are unsecured senior obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk.
The notes do not provide downside participation below par: if the final index level is at or below its initial level, investors receive only the $1,000 face amount. Tax counsel expects the notes to be treated as contingent payment debt instruments, requiring U.S. holders to accrue ordinary income over the term based on a comparable yield, even though no cash is received until maturity, and any gain at sale or maturity is taxed as ordinary interest income.
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 auto-callable structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes are expected to trade on a August 26, 2026 trade date, with an original issue date of August 31, 2026 and a stated maturity of August 30, 2029, unless automatically called.
Monthly coupons accrue at $15.834 per $1,000 of face amount (1.5834% monthly, up to approximately 19% per annum) but are paid only when the index is at or above 75% of its initial level on the relevant observation date; no coupon is paid when it is below that level. Beginning in August 2027, the notes are automatically called if the index is at or above its initial level on a call observation date, returning the $1,000 face amount plus the applicable coupon.
If the notes are not called, principal repayment at maturity depends on the index level. If the final index level is at or above 75% of the initial level, investors receive full principal back (plus any final coupon). If it is below 75%, repayment is reduced one-for-one with the index decline, down to zero, so investors can lose their entire investment. The underlier uses up to 500% leverage, targets 40% volatility and embeds a daily 6% per annum decrement, which drags performance. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, and the estimated value on the trade date is between $925 and $955 per $1,000 face amount.
Goldman Sachs Group Inc. (GS), through issuer GS Finance Corp., is offering autocallable contingent coupon notes due August 26, 2031, linked to the Russell 2000 Index, the S&P 500 Index and the State Street SPDR S&P Regional Banking ETF. The notes are fully and unconditionally guaranteed by Goldman Sachs Group Inc. and issued at 100% of face amount under its Medium-Term Notes, Series F program.
Investors receive a $10.125 monthly coupon per $1,000 (1.0125% per month, up to 12.15% per annum) only if, on each observation date, all three underliers are at or above 70% of their initial levels. The notes are automatically called if, on any call observation date from February 22, 2027, each underlier is at or above its initial level, in which case investors receive $1,000 plus the applicable coupon.
If the notes are not called and on the August 21, 2031 determination date any underlier is below its 70% trigger buffer level, repayment of principal is reduced one-for-one with the worst-performing underlier; a final level of 17% of initial would return 17% of face value. Investors bear the credit risk of GS Finance Corp. and Goldman Sachs Group Inc., face limited or no coupons, no upside participation beyond par, complex tax treatment and no rights in the underliers.
Goldman Sachs Group Inc. (GS), via GS Finance Corp. as issuer and Goldman Sachs Group as guarantor, is offering auto-callable, income-bearing notes linked to an ADS of Taiwan Semiconductor Manufacturing Company Limited (TSM), each ADS representing five common shares. The trade date is expected to be August 28, 2026, with original issue date on September 2, 2026 and stated maturity on October 1, 2027, unless the notes are automatically called earlier.
For each $1,000 face amount, investors may receive a contingent monthly coupon of $10.709 (1.0709%) when on the relevant observation date the TSM ADS closing price is at least 62% of the initial index stock price. The same 62% level is the trigger buffer for principal: at maturity, if the final price is at or above 62% of the initial price, investors receive $1,000 plus any final coupon; if it is below 62%, repayment is reduced one-for-one with the index stock return, potentially to zero, and no coupon is paid.
The notes may be automatically called in whole on specified call observation dates starting March 1, 2027 if the ADS closing price is at least the initial price; in that case, holders receive $1,000 plus the applicable coupon and no further payments. The estimated value at pricing is expected to be $925–$955 per $1,000, below the issue price, reflecting fees and hedging costs. Payments depend on the credit of GS Finance Corp. and the guarantee of The Goldman Sachs Group, Inc., and investors have no rights in TSM shares.
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 unsecured, index-linked notes that pay no interest and are fully guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, a leveraged, rules-based futures index with a 40% volatility target, up to 500% exposure and a 6.0% per annum daily decrement.
The notes are expected to be issued on August 31, 2026, can be automatically called quarterly starting August 2027 if the index is at least 90% of its initial level, paying principal plus a call premium that steps up over time. If not called, they mature August 31, 2033. At maturity, if the final index level is at least 90% of the initial level, holders receive a maximum settlement amount of $2,242.528 per $1,000 face amount (124.2528% maturity premium). If the index finishes between 60% and 90% of the initial level, principal is returned; below 60%, repayment is fully exposed to downside and investors can lose their entire investment.
The notes’ estimated value at pricing is expected to be $885–$925 per $1,000, below issue price, reflecting fees and hedging costs. Investors are exposed to the complex index methodology, significant leverage, decrement drag, futures and roll-yield effects, and to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as 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 subsidiary GS Finance Corp., is offering $6.5 million of Medium-Term Notes, Series F, linked to three equity indices: the Nikkei 225, Nasdaq-100 Index® and Russell 2000® Index. The notes pay a contingent monthly coupon of $9.292 per $1,000 (0.9292% monthly, up to about 11.15% per year) only if on each observation date all three indices are at or above 60% of their initial level.
The notes are subject to a quarterly automatic call feature if all indices are at or above their initial levels, in which case investors receive $1,000 per note plus the due coupon and the investment ends early. If not called, at maturity in 2029 investors receive $1,000 per note only if each index is at or above 60% of its initial level; otherwise repayment is reduced in line with the worst-performing index, and principal loss can reach 100%. The notes carry the credit risk of GS Finance Corp. and its guarantor Goldman Sachs Group, Inc., have an original issue price of 100% with a 1% underwriting discount, are not listed, and have complex tax and valuation characteristics, including an estimated value at pricing that is lower than the issue price.
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 issuer GS Finance Corp., is offering non‑interest‑bearing basket‑linked notes due in 2028, guaranteed by Goldman Sachs. The notes are linked equally to the EURO STOXX 50® Index, Nikkei 225 and S&P 500® Index via a normalized basket with an initial level of 100.
At maturity, each $1,000 note pays in cash: $1,050 (105% of face) if the final basket level is equal to or below 105% of the initial level; or $1,000 plus 100% of the basket return if the basket finishes above 105%, capped at a maximum settlement amount of $1,133 (113.3% of face). There is no downside below face amount; declines in one index can offset gains in others, affecting whether the basket exceeds the 105% threshold.
The expected trade date is August 25, 2026, determination date August 25, 2028, and stated maturity date August 30, 2028. The estimated value on the trade date is expected to be $925–$955 per $1,000, below the issue price, reflecting fees, hedging and Goldman’s pricing models. Payments depend on the credit of GS Finance Corp. and Goldman Sachs, and the notes are subject to complex tax rules for contingent payment debt instruments and to potential secondary‑market and interest‑rate risks.
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 autocallable contingent coupon notes linked to the S&P 500 Index, VanEck Gold Miners ETF and iShares Silver Trust, with an aggregate face amount of $1,600,000. The notes mature on February 22, 2030 and may be redeemed by the issuer at 100% of face amount plus any due coupon on quarterly coupon payment dates from February 2027 through November 2029.
Investors may receive a $37 coupon per $1,000 (3.7% quarterly, up to 14.8% per annum) only if on the observation date the closing level of each underlier is at least 50% of its initial level
The notes are unsecured obligations of GS Finance Corp., guaranteed by Goldman Sachs Group, Inc., and carry the issuers’ credit risk. The estimated value at pricing is approximately $968 per $1,000, below the issue price, reflecting structuring costs and dealer margin, and secondary market values will depend on models, market conditions, and an initial additional amount that amortizes to zero by February 22, 2027.
Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering $1,685,000 aggregate face amount of ETF‑Linked Notes due August 21, 2031, linked to the State Street Financial Select Sector SPDR ETF (XLF) and the State Street Health Care Select Sector SPDR ETF (XLV) and fully guaranteed by Goldman Sachs Group Inc.
The notes pay no interest. At maturity, for each $1,000, investors receive: (i) $1,000 plus 175.5% of the lesser ETF’s positive return if both ETFs finish at or above their initial levels ($57.84 for XLF, $169.73 for XLV); (ii) $1,000 if any ETF is down but both remain at or above 70% of initial (30% downside buffer); or (iii) $1,000 plus the lesser ETF return if any ETF finishes below 70% of initial, which can reduce repayment to near zero. The estimated value on the trade date is about $939 per $1,000, reflecting a 3% underwriting discount plus up to 0.7% structuring fee and other costs.
GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is issuing market-linked notes due February 23, 2029, linked to the S&P 500® Index, VanEck Gold Miners ETF and iShares® Silver Trust. Aggregate face amount is $8,688,000, in $1,000 denominations, with GS guaranteeing payment.
The notes pay a contingent coupon of $32.5 per $1,000 (3.25% quarterly, up to 13% per year) only if on each observation date all three underliers are at or above 50% of their initial levels (7,691.76 for the S&P 500, $88.95 for GDX, $57.44 for SLV). Otherwise, the coupon is zero and some or all coupons over the life of the note may never be paid. At maturity, if no early redemption occurs and any underlier has fallen more than 50% from its initial level, repayment of principal is reduced one-for-one with the decline of the worst performer, down to a possible total loss; if all are above the 50% barrier, principal is repaid in full plus the final coupon. GS may redeem the notes at par plus any due coupon on quarterly dates from February 2027 to November 2028. The estimated value at pricing is $954 per $1,000 face, below the 100% issue price.
Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering Trigger Autocallable Notes linked to an equally weighted basket of 32 large-cap technology and related stocks. The notes are unsecured obligations of GS Finance Corp. and are fully guaranteed by Goldman Sachs Group Inc.
The basket has an initial level of 100, an autocall barrier at 100% of the initial level and a downside threshold at 75% of the initial level. Notes are issued in $10 denominations (minimum purchase $1,000), with expected trade date August 21, 2026 and maturity August 26, 2031, subject to quarterly automatic call observations starting after 12 months. If on any call observation date the basket is at or above the autocall barrier, investors receive $10 plus a call return based on an annual rate of 13.90%–14.35%, and the notes terminate.
If not called, and the final basket level on August 21, 2031 is at or above the downside threshold, investors receive the $10 face amount; if it is below 75%, repayment is reduced one-for-one with the basket loss, down to zero. There are no periodic coupons or dividends. The original issue price is 100% of face, with a 2.50% underwriting discount and 97.50% net proceeds to the issuer. The estimated value at pricing is $8.85–$9.25 per $10, and payments are subject to the credit risk of GS Finance Corp. and Goldman Sachs Group Inc.
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 $300,000 aggregate face amount of Medium-Term Notes, Series F, that are auto-callable and linked to the Nasdaq-100 Index® and the S&P 500® Index. The notes pay no interest and are fully and unconditionally guaranteed by Goldman Sachs Group, Inc.
The notes are automatically called on August 18, 2027 if each index’s closing level is at or above its initial level, paying $1,097.50 per $1,000 of face amount on August 23, 2027. If not called, at maturity on August 23, 2034 investors receive at least the $1,000 face amount, and potentially upside based on 100% of the return of the lesser performing index, but only if both final index levels exceed their initial levels.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and Goldman Sachs Group, Inc., may have limited or no secondary market, and their estimated value at pricing is less than the 100% original issue price. For U.S. tax purposes they are treated as contingent payment debt instruments, requiring accrual of ordinary income based on a 5.52% comparable yield and a projected $1,556.10 payment at maturity per $1,000.
Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering auto-callable, no-coupon notes maturing on an expected stated maturity date of September 5, 2031, linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The trade date is expected to be August 31, 2026 and the original issue date September 3, 2026.
The notes may be automatically called from August 31, 2027 onward if the index closing level is at least 90% of its initial level, paying per $1,000 face amount: $1,000 plus $1,000 times the applicable call premium (starting at 17.5008% and rising on later call dates). If never called and the final index level is at least 50% of the initial level, investors receive a capped maximum settlement amount of $1,875.04 per $1,000; below 50%, repayment falls in proportion to the index and can be zero, so principal may be fully lost.
The index is highly engineered: it targets 40% volatility with leverage up to 500%, caps daily leverage changes at 100%, may be significantly uninvested, and applies a daily 6.0% per annum decrement, which consistently drags performance versus a similar index without a decrement. The estimated value at pricing is expected between $885 and $925 per $1,000, below the 100% issue price, and payments are subject to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as guarantor.
Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured Trigger Autocallable GEARS linked to an equally weighted basket of 34 large-cap tech and related stocks. The notes pay no coupons and are guaranteed by Goldman Sachs Group Inc.
The initial basket level is 100. On the September 3, 2027 call observation date, if the basket closes at or above the autocall barrier of 100% of the initial level, the notes are automatically redeemed at $10 plus an 18.00% call return per $10 face amount, ending the trade early.
If not called, the notes mature on August 30, 2029. At maturity, investors get geared upside of 1.30–1.50× the basket gain if the basket finishes above 100. Principal is repaid at 100% only if the final basket level is between 75% and 100%. Below the 75% downside threshold, losses are 1:1 with the basket and investors can lose their entire investment. The estimated value at pricing is $8.80–$9.10 per $10, versus a 100% issue price.
GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering auto-callable, equity-linked notes with an aggregate face amount of $1,238,000 tied to the VanEck Semiconductor ETF. The notes pay no interest and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.
The notes are automatically called on specified quarterly observation dates from August 18, 2027 to May 18, 2029 if the ETF’s closing level is at or above the initial underlier level of $569.77, paying for each $1,000 face amount $1,000 plus the applicable call premium (e.g., 23.35% on the first call date, rising to 64.2125% on the last).
If not called, at the August 23, 2029 stated maturity the cash payment per $1,000 is: (i) $1,000 + $1,000 × 70.05% if the final level is at or above the initial level (upside capped at 70.05%); (ii) $1,000 if the final level is below the initial level but at or above the 75% trigger buffer level; or (iii) $1,000 + $1,000 × underlier return if the final level is below the trigger buffer, exposing investors to 1:1 downside, including potential total loss of principal. The original issue price is 100% of face, with a 3.2% underwriting discount and 96.8% net proceeds to the issuer. The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., are not listed on any exchange, may have limited liquidity, and carry complex tax treatment, including possible application of Section 1260 constructive ownership rules.
Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured, senior Medium-Term Notes, Series F linked to the S&P 500® Futures Excess Return Index, maturing in 2031 and fully and unconditionally guaranteed by Goldman Sachs. The notes provide leveraged upside to the index but no downside participation below par.
At maturity, for each $1,000 note, investors receive $1,000 plus 147.5% of any positive index return; if the index is flat or down, only the $1,000 face amount is paid. The notes pay no periodic interest, are subject to the credit risk of GS Finance Corp. and Goldman Sachs, and will not be listed on any exchange. The underlier tracks E-mini S&P 500 futures, so returns are affected by futures financing costs and potential negative roll yield, which can cause the index to lag the S&P 500® Index. The estimated value determined by GS&Co.’s models at pricing will be less than the issue price, and early secondary sales may occur at prices below face value.
For U.S. tax purposes, the notes are treated as contingent payment debt instruments, requiring accrual of ordinary income based on a comparable yield before any cash is received, with gain at sale or maturity generally taxed as ordinary interest income. GS&Co., an affiliate with a FINRA Rule 5121 conflict of interest, is the underwriter and may make a market in the notes, but is not obligated to do so.
Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering auto-callable income notes linked to an American depositary share of Taiwan Semiconductor Manufacturing Company Limited (TSM ADS), each ADS representing five common shares. Each note has a $1,000 face amount, with the trade date expected to be August 28, 2026, original issue date September 2, 2026, and stated maturity October 1, 2027, unless automatically called.
On each monthly coupon observation date, if the TSM ADS closing price is at least 62% of the initial index stock price, investors receive a coupon of $8.834 per $1,000 (0.8834% monthly, up to ~10.6% per year); otherwise the coupon is zero. Beginning March 1, 2027, the notes are automatically called if the ADS closes at or above the initial price on a call observation date, paying $1,000 plus the applicable coupon. At maturity, if the final ADS price is at least 62% of the initial price, holders receive $1,000 plus the final coupon; if it is below 62%, repayment is reduced 1-for-1 with the index stock return and investors can lose up to their entire principal and coupons.
The notes are unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk. The estimated value at pricing is expected between $925 and $955 per $1,000, reflecting structuring and distribution costs, and market value can be affected by TSM ADS performance, volatility, rates, and Goldman Sachs’ hedging and trading activities.
Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering principal-at-risk contingent income auto-callable notes linked to the worst-performing of the S&P 500, Russell 2000 and Nasdaq-100, maturing in August 2028. The notes pay a contingent quarterly coupon of at least $23.75 per $1,000 only if each index is at or above 70% of its initial level on the relevant observation date.
The notes are automatically called if on any call observation date all three indexes are at or above their initial levels, returning $1,000 per note plus the coupon then due; no further payments occur after a call. If held to maturity and all indexes finish at or above 70% of initial, investors receive $1,000 plus the final coupon. If any index finishes below 70% of initial, repayment is reduced 1-for-1 with the decline of the worst-performing index, down to zero, and no final coupon is paid.
The original issue price is 100% of principal, with a 2.00% underwriting discount and estimated fair value of $925–$985 per $1,000. Payments depend on the credit of GS Finance Corp. and the guarantee of Goldman Sachs Group Inc., and investors do not participate in any index appreciation.
Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering Intel-linked Medium-Term Notes, Series F with an aggregate face amount of $1,355,000. The notes pay contingent monthly coupons only if Intel’s stock is at or above a coupon trigger level set at 60% of the $96.685 initial level on each observation date. The notes are subject to an automatic call if Intel’s closing level is at or above the initial level on specified call observation dates, in which case investors receive $1,000 per note plus the due coupon and the term ends early. At maturity, if not called, principal is fully returned only if the final Intel level is at or above the 60% trigger buffer level; below that, repayment is reduced one-for-one with the underlier return and investors could lose their entire investment. The issue price is 100% of face amount, with a 0.6% underwriting discount, and the notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc., will not be listed on any exchange, and involve uncertain U.S. tax treatment.
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., offers autocallable index-linked notes due August 30, 2029, linked to the Dow Jones Industrial Average, Nasdaq‑100 Index and Russell 2000 Index. The notes pay no interest and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.
The notes may be automatically called quarterly if the closing level of each index on a call observation date is at or above its initial level, paying for each $1,000 face amount $1,000 plus the applicable call premium (starting at 13.25% and rising to 36.4375%). If not called, at maturity investors receive a capped amount of $1,000 plus a 39.75% maturity premium if all final index levels are at or above their initial levels, $1,000 if each final level is at or above 70% of its initial level, or $1,000 plus the “lesser performing underlier return” if any index closes below 70% of its initial level, which can result in a total loss of principal.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The issuer states the estimated value on the trade date is lower than the original issue price. The notes are not listed, and any secondary market is expected to be limited and dealer‑driven.
GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp, is offering principal-at-risk Contingent Income Auto-Callable Securities with a memory coupon linked to a Class A subordinate voting share of Shopify Inc., expected to mature on August 31, 2029, under its registered structured note program.
The notes pay a contingent quarterly coupon of at least $37.75 per $1,000 only when Shopify’s closing price on a coupon observation date is at or above a downside threshold set at 50% of the initial share price; missed coupons can be paid later under a memory feature. The notes are automatically called if Shopify’s price on any call observation date is at or above the initial share price, returning principal plus the coupon then due, with no further payments.
If the notes are not called and the final share price is at or above the downside threshold, investors receive $1,000 per note plus the final contingent coupon; if it is below the threshold, repayment is reduced in proportion to the share decline and may be zero. Investors do not participate in any stock appreciation above par. The notes are unsecured obligations of GS Finance Corp, fully guaranteed by The Goldman Sachs Group, Inc., and the estimated value is $910–$970 per $1,000, below the 100% issue price, reflecting fees, hedging and structuring costs, as well as market and tax risks described.
GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp as issuer and with a Goldman Sachs guarantee, is offering $14,485,000 of Contingent Variable Coupon ETF‑Linked Notes due August 22, 2028, linked to the SPDR Gold Trust (GLD).
Quarterly coupons per $1,000 note equal up to $10, scaled by the fraction of scheduled trading days in each observation period when GLD closes within the 90%–110% coupon trigger range of the initial level of $405.49; if GLD is outside this range on all reference dates, no coupon is paid. At maturity, investors receive cash based on GLD’s performance: if GLD is above 110% of the initial level, payoff is leveraged at a 110% participation rate above a 10% threshold, but capped at a maximum settlement amount of $1,475 per $1,000. If GLD finishes between 90% and 110% of the initial level, principal is returned; below 90%, principal losses apply at about 1.1111% for every 1% drop below the 90% buffer, down to a full loss.
The notes are unsecured obligations of GS Finance Corp, guaranteed by The Goldman Sachs Group, Inc., and are subject to their credit risk. The original issue price is 100% of face amount, while the estimated value at pricing is about $971 per $1,000, reflecting structuring and distribution costs.
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, buffered notes due September 21, 2028 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.
Each $1,000 note pays no interest and returns a cash amount at maturity based on S&P 500 performance from the September 18, 2026 trade date to the September 18, 2028 determination date. Upside is 1:1 with the index but capped at a maximum upside settlement amount of $1,217 per $1,000. A 20% buffer provides positive "absolute" return if the index is down by up to 20%, but below 80% of the initial level losses increase 1% for each additional 1% index drop; investors can lose a substantial portion of principal.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp and the guarantor. The original issue price exceeds the model-based estimated value, the notes will not be listed on an exchange, and any secondary market depends on discretionary market-making by Goldman Sachs & Co. LLC.
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 (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 unsecured, senior Medium-Term Notes, Series F that are equity-linked, auto-callable securities tied to the worst performer among Alphabet Class A, Amazon, CoreWeave Class A and Meta Class A, maturing August 31, 2029. The notes pay a monthly contingent coupon of at least $21.667 per $1,000 face amount (about 26% per annum) only if, on the relevant calculation day, the lowest-performing stock’s price is at or above 50% of its starting price; missed coupons can be recovered later under a “memory” feature.
From February 2027 to July 2029, if on any monthly call date the lowest-performing stock is at or above its starting price, the notes are automatically called at par plus the due coupon(s), ending further payments. If not called, principal at maturity is fully returned only if the worst stock is at or above its downside threshold of 50% of its starting price; otherwise, investors are exposed 1-for-1 to that stock’s decline from its starting price and can lose most or all of principal. The estimated value is $890–$920 per $1,000 at pricing, below the $1,000 offering price, and all payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.
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 $1,500,000. The notes are fully and unconditionally guaranteed by Goldman Sachs and are issued at 100% of face value.
The payoff at maturity depends on S&P 500® performance from the August 17, 2026 trade date to the October 18, 2027 determination date. For each $1,000 note, investors receive: the face amount plus index return, capped at a maximum settlement amount of $1,109, if the index rises; exactly $1,000 if the index is down by no more than the 15% buffer; or a loss of 1% of principal for each 1% the index falls below the 85% buffer level.
The notes pay no interest, may lose a substantial portion of principal, are subject to the credit risk of GS Finance Corp. and Goldman Sachs, and will not be listed on any exchange. Tax treatment is uncertain and the notes are treated as a pre-paid derivative contract for U.S. federal income tax purposes under counsel’s opinion.