Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers $3,430,000 of medium-term notes, guaranteed by The Goldman Sachs Group, Inc., via a pricing supplement dated .

The notes are linked to the EURO STOXX 50® Index with an upside participation rate of 125%, a buffer level of 85% and an initial underlier level of 6,019.45. The notes pay no interest, may be automatically called on the call observation date if the underlier closes at or above the initial level (call payment would be $1,150 per $1,000 face amount), and otherwise pay a cash settlement at maturity that can result in a total loss of principal if the final underlier level is sufficiently low.

GS Finance Corp. offers structured, non‑interest bearing notes guaranteed by The Goldman Sachs Group, Inc. The notes mature on May 28, 2031 but are subject to an automatic call on the call observation date August 24, 2026. If all three index stocks meet a 75% threshold on that observation date, holders receive $1,190.002 per $1,000 face amount on the call payment date. If not called, the cash payment at maturity depends solely on the performance of the lesser performing index stock: upside participation is 200% if all final prices exceed their initials; a buffer protects declines down to 60%, below which losses accelerate (approximately 166.67% buffer rate). The prospectus notes an estimated value of approximately $980 per $1,000 face amount on the trade date and highlights issuer and guarantor credit risk and limited anti‑dilution protections.

GS Finance Corp. offers non‑interest‑bearing, structured notes due May 28, 2031, backed by a guarantee from The Goldman Sachs Group, Inc. Each note has a $1,000 face amount (aggregate face amount $1,095,000 on the original issue date). The cash settlement at maturity is linked to the lesser performing of the Invesco QQQ, Series 1 and the VanEck Semiconductor ETF and pays: (a) if the final level of each ETF is above its initial level, 2.00× the lesser performing ETF return on the face amount; (b) if either final level is ≤ its initial level but ≥ 80% of its initial level, the face amount; or (c) if any final level is < 80% of its initial level, a reduced payment that can result in a substantial loss. The notes are callable by the issuer on specified monthly call payment dates beginning June 3, 2027, with fixed call premium amounts (ranging from 24% to 48% per the table). The estimated value on the trade date was approximately $952 per $1,000 face amount; original issue price is 100% with a 1% underwriting discount (net proceeds 99%).

GS Finance Corp. offers structured, non‑interest bearing medium‑term notes (linked to Arista Networks, Inc. common stock) with an original issue date of May 28, 2026. Each $1,000 face amount may be automatically called on June 4, 2027 if the index stock closing price is ≥ $154.03, producing a capped cash payment of $1,286. If not called, maturity payment on May 25, 2028 depends on the final index stock price versus the initial price: a minimum threshold settlement of $1,572 if the stock rises, full return of principal if the decline is up to 30%, and a leveraged loss beyond that buffer with a buffer rate of approximately 142.86%. The estimated value at pricing was approximately $973 per $1,000 face amount; original issue price is 100% with a 1.5% underwriting discount.

GS Finance Corp. files a pricing supplement offering $3,628,000 of Trigger Autocallable GEARS due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference Eli Lilly common stock (ticker LLY UN) with an initial price of $1,065.00, an autocall barrier at 100.00%, upside gearing of 1.50, a downside threshold at 70.00% and a call return of 21.84%. Trade date is May 22, 2026, original issue date May 28, 2026, call observation date May 28, 2027 and determination date May 22, 2029. The securities pay no coupons, may be automatically called, and principal is contingent on index performance and issuer/guarantor credit.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering notes linked to the common stocks of Microchip Technology, Carnival Corporation and Howmet Aerospace. The notes mature on May 28, 2031 but are automatically callable if, on the call observation date (August 24, 2026), each index stock closes at or above 80% of its initial price, producing a cash call payment of $1,194.001 per $1,000 face amount on the call payment date (August 27, 2026).

If not called, payoff at maturity depends on the lesser performing index stock on the determination date (May 22, 2031): a positive payoff equals 200% of that lesser stock's return above its initial price; if any final price is between 60% and 100% of its initial price, holders receive the face amount; below 60%, the payout declines at a buffer rate of ~166.67%, and investors could lose their entire investment. The estimated value at pricing was approximately $987 per $1,000 face amount; original issue price is 100% of face.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2033 that bear interest at 5.20% per annum from and including the original issue date (expected June 15, 2026) to but excluding the stated maturity date (expected May 27, 2033). Interest is payable annually on expected interest dates of June 15 (first payment expected June 15, 2027). The issuer may redeem the notes in whole, but not in part, on scheduled redemption dates (expected each March 15, June 15, September 15 and December 15 on or after December 15, 2027) at 100% of principal plus accrued interest with at least five business days' prior notice. The notes will be issued in book-entry form as a master global note through DTC. The pricing supplement supplements and controls over prior prospectus materials where inconsistent and the offering is subject to distribution, tax and jurisdictional restrictions described herein.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due May 28, 2031 that pay interest at 4.95% per annum from and including the expected original issue date of June 15, 2026. Interest is expected to be paid annually on June 15 with the first payment on June 15, 2027. The issuer may redeem the notes in whole, but not in part, on expected quarterly redemption dates on or after June 15, 2027, at a price equal to 100% of principal plus accrued interest, with at least five business days' notice. The notes will be issued in book-entry form through DTC and are part of the Medium-Term Notes, Series N program under the Senior Debt Indenture.

GS Finance Corp. is offering principal-protected contingent‑coupon notes guaranteed by The Goldman Sachs Group, Inc. The $2,000,000 aggregate face amount of notes pays a contingent monthly coupon of $8 per $1,000 (0.8% monthly, up to 9.60% per annum) if each underlier meets a 60% coupon trigger. The notes mature on May 24, 2029, are automatically called if all three underliers are at or above their initial levels on a call observation date, and the maturity cash settlement depends on the performance of the lesser performing underlier measured versus its initial level (initial levels set as of May 20, 2026). The notes may repay less than principal and you could lose your entire investment if the lesser performing underlier falls below its 50% trigger buffer.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes linked to NVDA, TSM (ADS representing five shares) and ORCL that mature May 25, 2029. The notes pay monthly coupons only if each index stock meets 50% thresholds on observation dates, are automatically called if all stocks equal or exceed initial prices on a call observation date, and at maturity either return face amount or a cash settlement tied to the lesser performing index stock if a trigger event occurs. The prospectus discloses an estimated value of approximately $957 per $1,000 face amount on the trade date and notes material credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers contingent monthly-coupon, autocallable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 and pay a contingent monthly coupon of $9.375 per $1,000 (0.9375% monthly, up to 11.25% per annum) when each underlier is at or above 75% of its initial level on observation dates. The notes may be automatically called if, on any call observation date, each underlier closes at or above its initial level; if not called, the cash settlement at maturity depends solely on the lesser performing underlier and can result in a total loss of principal. Trade date is May 22, 2026, original issue date May 28, 2026, and stated maturity May 25, 2029. The offering lists an aggregate face amount of $3,089,000, original issue price 100% of face, underwriting discount 1.25%, and net proceeds 98.75%. The calculation agent is Goldman Sachs & Co. LLC. Coupons, calls, and final payout are subject to the specific observation/trigger mechanics described in the pricing supplement.

GS Finance Corp. is offering Market Linked Notes—Auto-Callable with Contingent Coupon with Memory Feature and Principal Return at Maturity linked to the lowest performing of Palantir (Class A), NVIDIA, Dell (Class C) and Micron. Pricing date is May 22, 2026, original issue date May 28, 2026, stated maturity May 28, 2031. Each note has a face amount of $1,000, an original offering price of $1,000 and an estimated value at pricing of approximately $940 per $1,000. The notes pay a monthly contingent coupon of $7.00 per $1,000 (approx. 8.40% per annum) only if the lowest performing underlying stock on a calculation day is at or above its coupon threshold (75% of its starting price). If, on any monthly call date from May 2027 through April 2031, the lowest performing underlying stock is at or above its starting price, the notes will be automatically called for the face amount plus any due contingent coupons. If not called, principal at maturity equals the face amount. All payments are subject to issuer/guarantor credit risk and the notes are not equity, not FDIC insured, and have no shareholder rights.

GS Finance Corp. is offering $4,491,000 in callable 10‑Year CMT Rate‑Linked Range Accrual Notes due May 28, 2031, guaranteed by The Goldman Sachs Group, Inc.

The notes pay quarterly interest only when the 10‑year CMT rate on reference dates is equal to or less than the reference rate barrier (5.25%); the interest factor is 7.15%. The issuer may redeem the notes at par on or after May 28, 2027. The estimated value at issuance is approximately $967.50 per $1,000 face amount; original issue price is 100.00% with an underwriting discount of 1.888%.

GS Finance Corp. offers $ Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons of $0.25 per $10 (up to 10.00% per annum) only if both the Russell 2000® and Nasdaq-100® close at or above 70% of their initial levels on observation dates. Commencing November 2026 the notes are automatically called if both indices close at or above their strike levels; at maturity the cash settlement equals $10 per $10 face amount if both indices are ≥70% of their initial levels, otherwise principal is reduced proportionally to the lesser performing index return. Estimated value at pricing is $9.55–$9.85 per $10; original issue price is 100% of face with a 2% underwriting discount. The notes expose investors to index market risk and issuer/guarantor credit risk and may result in loss of some or all principal.

GS Finance Corp. is offering $2,000,000 face amount of S&P 500®-linked buffered notes (guaranteed by The Goldman Sachs Group, Inc.). The notes pay no interest and return at maturity depends on the S&P 500 Index performance measured from May 21, 2026 to the determination date. If the final index level is at or above the buffer level (90% of the initial level), investors receive the capped maximum settlement amount of $1,100.90 per $1,000 face amount. If the final level is below the buffer, holders incur losses equal to approximately 1.1111% of face amount for each 1% decline below the buffer; losses can equal the entire investment. The notes were issued at 100% of face with an underwriting discount of 1.083% and net proceeds of 98.917%. Terms include an initial underlier level of 7,445.72, a determination date of July 22, 2027, and a stated maturity date of July 27, 2027.

The Goldman Sachs Group, Inc. is offering fixed-rate senior notes due 2033 under its Medium-Term Notes, Series N program. The notes are expected to carry an interest rate of 4.90% per annum, pay interest semiannually on June 15 and December 15, and have a stated maturity date of June 15, 2033. The trade date is shown as June 10, 2026 with an original issue date of June 15, 2026. Notes will be issued in book-entry form in denominations of $1,000 and will not be listed on any exchange. The pricing supplement supplements the February 14, 2025 prospectus and prospectus supplement and contains customary distribution, tax and regulatory restrictions applicable to various jurisdictions.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering fixed‑term notes linked to NVIDIA, TSMC ADS (5:1) and Micron, maturing May 30, 2029, with automatic call observations from May 2027 through April 2029. Coupons of $17.917 per $1,000 accrue monthly when each index stock meets a 50% trigger; notes are automatically called if each index stock closes at or above its initial price on a call observation date. At maturity holders receive $1,000 per $1,000 face amount unless a trigger event occurs, in which case the cash settlement depends on the lesser performing index stock return and may be significantly less than principal. Estimated value at pricing was approximately $962 per $1,000 face amount; original issue price is 100%. Trade date is May 22, 2026 and original issue date is June 1, 2026.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering structured notes linked to the common stocks of Micron Technology, Intel, Marvell and AMD. The notes mature on May 30, 2029 unless automatically called after observation dates beginning November 2026. Coupons may be paid monthly only if each index stock closes at or above 50% of its initial price on coupon observation dates; the coupon accrues as $24.167 per $1,000 observation (2.4167% monthly). If any observation fails the 50% trigger on that date, that coupon payment is $0. Automatic redemption occurs on a call payment date if each index stock closes at or above its initial price on a call observation date; redeemed holders receive face amount plus accrued coupon. At maturity, if a trigger event occurs (each index stock below its initial price on the determination date), the cash settlement equals $1,000 times (1 + the lesser performing index stock return), which can be significantly less than face amount; if no trigger event occurs holders receive $1,000 (plus final coupon if applicable). Initial index stock prices are specified per issuer and the aggregate face amount on original issue is $1,044,000. The estimated value on the trade date was approximately $956 per $1,000 face amount. The original issue price was 100% with an underwriting discount of 3.5% and net proceeds of 96.5%.

GS Finance Corp. is offering $828,000 aggregate face amount of cash‑settled, autocallable notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq‑100 and S&P 500, pay no interest, and may be automatically called on the call observation date for $1,070 per $1,000 face amount. At maturity (if not called), payoff is cash and equals $1,000 plus 100% participation in the lesser performing underlier return if that return is positive; otherwise you receive the $1,000 face amount. Key dates: trade date May 22, 2026, original issue date May 28, 2026, call observation date May 31, 2027, determination date and stated maturity around May 22–25, 2029 (subject to adjustment). The pricing supplement discloses a comparable yield for U.S. federal income tax accruals of 4.7317% and a projected maturity payment of $1,152.53 on a $1,000 investment for tax accrual purposes.

GS Finance Corp. offers principal-protected, non-interest-bearing notes linked to an equally weighted basket of six stocks with an automatic call feature.

The notes have a face amount of $1,000 per note, trade date May 22, 2026, original issue date May 28, 2026, call observation date June 4, 2027 and stated maturity May 25, 2028. Payment at maturity or on the call payment date depends on the final basket level versus the initial basket level (initial basket level 100). The notes feature an upside participation rate of 125%, a buffer level of 85% (buffer rate approximately 117.65%), an automatic-call payment of $1,203.30 per $1,000 if called, and an estimated value of approximately $952 per $1,000 on the trade date. Purchase price is 100% of face amount with an underwriting discount of 1.5% and net proceeds to issuer of 98.5%.

The Goldman Sachs Group, Inc. is offering fixed rate notes with an interest rate of 4.50% per annum, a trade date of June 10, 2026, an original issue date of June 12, 2026 and a stated maturity date of June 12, 2029. The notes will be issued in book-entry form, in minimum denominations of $1,000, will not be listed on an exchange, and will use 30/360 (ISDA) day count for interest calculations. The pricing supplement states the original issue price, underwriting discount and net proceeds on the cover but leaves certain investor-specific original issue price adjustments to the supplemental plan of distribution.

GS Finance Corp. is offering Leveraged Buffered EURO STOXX 50® Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash payment at maturity tied to the EURO STOXX 50 performance from the Trade date to the Determination date. For each $1,000 face amount: if the final index level is above the initial level you receive $1,000 plus the upside participation rate times the index return; if the final index level is at or above the 90% buffer level you receive $1,000; if the final index level is below the buffer you incur downside loss equal to approximately 1.1111% of face amount per 1% index decline below the buffer, potentially losing your entire investment.

The terms show an 187.42% upside participation rate, a 10% buffer, and a stated maturity of June 3, 2031. The original issue price is 100% of face amount; underwriting discount is 3%. Purchases are subject to issuer and guarantor credit risk and limited secondary-market liquidity.

GS Finance Corp. is offering auto-callable, equity-linked medium-term notes (guaranteed by The Goldman Sachs Group, Inc.) linked to the common stock of First Solar, Inc. The securities pay a contingent quarterly coupon (at least $38.50 per $1,000, equivalent to 15.40% per annum) only if the underlying stock meets a coupon threshold. The notes are auto-callable quarterly if the stock closes at or above the starting price, and if not called will return the face amount at maturity only if the final stock price is at or above the downside threshold (both thresholds equal 50% of the starting price). The estimated value at pricing is $925–$955 per $1,000 face amount; original offering price is $1,000. Investors bear full downside exposure to the underlying stock and the issuer/guarantor credit risk.

GS Finance Corp. proposes notes linked to an equally weighted basket of CrowdStrike, Microsoft, Palo Alto Networks and Snowflake. The notes have an initial basket level of 100, an upside participation rate of 125%, a buffer level of 85% and an automatic-call feature. The trade date is expected to be June 15, 2026, the call observation date June 28, 2027 (call payment expected July 1, 2027), and the stated maturity is expected to be June 21, 2028. If automatically called, each $1,000 face amount will pay at least $1,264. At maturity, positive basket returns receive leveraged upside (125% participation), returns inside the 15% buffer return principal, and larger declines are reduced by a buffer rate of approximately 117.65%, which can still produce losses. The prospectus discloses an estimated value at pricing of $900–$930 per $1,000 face amount and warns holders that payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering callable, buffer-protected notes linked to the common stock of Eli Lilly and Company (ticker: LLY UN) with an aggregate face amount of $4,723,000. Trade date is May 22, 2026, original issue date May 28, 2026, and stated maturity June 10, 2027. Each $1,000 note pays a contingent quarterly coupon (up to $47.50 per coupon observation date in the structure shown) if the underlier closes at or above 85% of the initial level on observation dates. The notes are automatically called if the underlier closes at or above the initial level on any call observation date. At maturity, if not called, cash payment depends on the final underlier level versus a 15% buffer; the pricing supplement warns investors that they could lose their entire investment and that the original issue price exceeds the estimated model value.

GS Finance Corp. is offering callable buffered notes linked to the S&P 500® Futures Excess Return Index with a $1,000 face amount per note and a stated maturity of May 28, 2031. The notes pay no interest. At maturity the cash payout is determined by the index return from May 22, 2026 to the determination date, with a 200% upside participation if the final level is at or above the initial level of 601.21. A buffer protects the first 20% of index decline (buffer level = 80% of initial level); declines below that result in losses to principal. The issuer may redeem on specified call payment dates beginning June 3, 2027, at 100% of face plus the applicable call premium. Estimated value at pricing was approximately $963 per $1,000 face amount; original issue price is 100% with a 0.75% underwriting discount.

GS Finance Corp. offers principal-protected callable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The pricing supplement states an aggregate face amount of $3,318,000 and an original issue price equal to 100% of face amount. The notes pay no periodic interest; if not called they pay at maturity either $1,000 or, if the final index level exceeds the initial index level, $1,000 plus $1,000 × 100% × index return. The notes are automatically called on specified annual observation dates if the index closing level is greater than or equal to the call level (101.25% of the initial index level), in which case each $1,000 face amount pays $1,000 plus the applicable call premium. The pricing supplement shows an estimated trade-date value of $898 per $1,000 face amount (less than issue price) and discloses an underwriting discount of 4.375% (net proceeds 95.625%). Terms reference an initial index level of 113.67, a stated maturity in May 2033, and an upside participation rate of 100%. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.; purchasers remain exposed to the issuer/guarantor credit risk and to index- and methodology-related risks described in the supplement.

GS Finance Corp. offers $6,070,000 aggregate face amount of medium-term notes, fully guaranteed by The Goldman Sachs Group, Inc.

The notes reference the S&P 500® Index, pay no interest, and include an automatic call on the call observation date that would deliver $1,100 per $1,000 if the underlier closes at or above the initial level. If not called, maturity payments depend on the final underlier level with an upside participation rate of 190%, a buffer level of 90% (buffer rate ≈ 111.11%), and an initial underlier level of 7,473.47. The notes may result in a substantial loss, including a total loss of principal if the final underlier level is below the buffer level. Trade date: May 22, 2026; original issue date: May 28, 2026; determination date: May 22, 2028; stated maturity date: May 25, 2028.

GS Finance Corp. is offering S&P 500®-linked principal-at-risk notes (aggregate face amount $14,023,000) with a stated maturity of June 9, 2027 and a determination date of June 4, 2027. Each note has a $1,000 face amount, does not bear interest, and is fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

Payoff at maturity is cash-based and depends on the S&P 500 final level versus a buffer level equal to 90% of the initial level. If the final level is at or above the buffer level the holder receives the maximum settlement amount of $1,090.60 per $1,000 face amount. If below the buffer, losses apply at a buffer rate of ~111.11% (approximately 1.1111% loss of face per 1% index decline below the buffer), and you could lose your entire investment.

GS Finance Corp. issues Contingent Income Auto-Callable Securities tied to Advanced Micro Devices, Inc. The offering totals $25,968,000 in aggregate principal (original issue price 100%), priced May 22, 2026 with an original issue date of May 28, 2026. These unsecured notes (guaranteed by The Goldman Sachs Group, Inc.) pay a contingent quarterly coupon only when AMD closing prices meet or exceed a 50.00% downside threshold of the initial share price ($233.755); securities are automatically called if AMD closes at or above the initial share price ($467.51) on any call observation date. Payment at maturity depends on the final share price: if final share price < downside threshold, principal is reduced 1:1 by share performance; if final share price >= downside threshold, principal is returned plus any final contingent coupon. The pricing models estimated value per security is approximately $959, below the original issue price. Pricing and distribution include a total underwriting discount of 2.25% ($584,280).

GS Finance Corp. offers $13,053,000 of contingent monthly-coupon, principal-at-risk notes guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10.834 per $1,000 when each underlier closes at or above 70% of its initial level and return at maturity depends on the lesser performing underlier. The issuer may redeem the notes on coupon payment dates from August 2026 through March 2028. If the final level of the lesser performing underlier is below 70% of its initial level, the cash settlement equals $1,000 plus $1,000 times that underlier's return, which can cause substantial loss up to the entire investment.

GS Finance Corp. offers principal-protected contingent notes linked to the EURO STOXX 50® Index. For each $1,000 face amount, the notes pay at maturity either: (a) $1,000 plus participation of 170.4% of the index gain, (b) the $1,000 face amount if the final index level is between 75% and 100% of the initial level, or (c) a cash amount equal to $1,000 multiplied by the index return if the final index level is below 75%, exposing holders to potential principal loss up to the full investment. The notes pay no periodic interest, are guaranteed by The Goldman Sachs Group, Inc., have an original issue price of 100% of face amount and an underwriting discount of 4.125%, and mature on May 28, 2031.

The Dow Jones Industrial Average Futures Excess Return Index measures performance of the nearest-maturing quarterly E-mini Dow ($5) futures contract (Bloomberg: DJIAFP) and uses the Dow Jones Industrial Average® as its reference equity index. The index has a base date of June 14, 2002 and a base value of 100.

The supplement shows annualized returns and volatilities through May 1, 2026: the index returned 18.04% (1 year) with volatility 12.66%, 9.31% (3 years) with volatility 13.56%, 5.63% (5 years) with volatility 14.83%, and 7.64% (since January 4, 2021) with volatility 14.71%. The supplement emphasizes that past performance is not an indication of future results and lists specific risks including negative roll yields, credit risk of the issuer/guarantor, and differences between futures-linked returns and direct equity ownership.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) offers principal-at-risk notes with an aggregate face amount of $2,448,000. The notes pay a contingent monthly coupon of $11.042 per $1,000 (1.1042% monthly; up to ~13.25% per annum) when each underlier is >= its coupon trigger level (70% of initial).

The notes mature on May 28, 2031 (determination date May 22, 2031), are subject to an automatic call if all underliers are >= their initial levels on any call observation date, and pay at maturity based on the lesser performing underlier. You may lose your entire investment if the lesser performing underlier finishes below its 70% trigger buffer. Calculation agent: Goldman Sachs & Co. LLC. Issue price 100%; underwriting discount 0.6%; net proceeds 99.4%.

GS Finance Corp. offers principal‑protected, equity‑linked notes backed by a guarantee of The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and the initial aggregate face amount is $652,000. Payment at maturity (stated maturity November 26, 2027) depends on the Class A common stock of AppLovin Corporation measured from the trade date (May 22, 2026) to the determination date (November 22, 2027). If the final index stock price is >= 50% of the initial price ($481.68), the cash payoff is capped at a $1,390 threshold settlement amount per $1,000 face amount; if the final index stock price falls more than 50%, holders suffer losses that may reach the full principal. The estimated value on the trade date was approximately $958 per $1,000 face amount; underwriting discount is 0.725%.

The Goldman Sachs Group, Inc. offers Callable Fixed Rate Notes due 2030 paying 4.875% interest per annum. The notes are expected to be issued on June 17, 2026 and to mature on June 17, 2030. Interest is payable semiannually on June 17 and December 17, with the first payment expected on December 17, 2026. The notes are callable in whole (not in part) on each redemption date on or after June 17, 2028, expected quarterly on March 17, June 17, September 17, and December 17, at a redemption price equal to 100% of principal plus accrued interest. The offering will settle through DTC in book-entry form and is distributed by Goldman Sachs & Co. LLC and InspereX LLC.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2036 that pay interest at 5.40% per annum. The notes have an expected original issue date of June 15, 2026 and an expected stated maturity date of May 27, 2036. Interest is payable annually on each June 15 (first payment expected June 15, 2027), and the issuer may redeem the notes in whole, at its option, on each scheduled redemption date (expected quarterly on March 15, June 15, September 15 and December 15 on or after December 15, 2027) at a redemption price equal to 100% of principal plus accrued interest.

The notes will be issued in book‑entry form through DTC, may be sold at varying initial prices to certain accounts, and are a new issue with no established trading market. The pricing supplement incorporates the prospectus and prospectus supplement and states that FATCA withholding generally applies.

GS Finance Corp. supplement describes the S&P 500® Futures Excess Return Index (Bloomberg: SPXFP), which tracks the nearest-maturing quarterly E-mini S&P 500 futures contract on the CME. The supplement lists index mechanics, historical annualized returns and volatilities through May 1, 2026, key risks such as negative roll yields and credit exposure to GS Finance Corp. and The Goldman Sachs Group, Inc., and disclosure that past performance is not indicative of future results.

GS Finance Corp. supplement: This index supplement describes the S&P 500® Futures Volatility Plus Daily Risk Control Index (Bloomberg: SPXFVPRE), a rules-based index that seeks leveraged exposure (minimum 100%, maximum 200%) to the S&P 500® Futures Excess Return Index using a dynamic volatility target. The index launched on April 25, 2022 with a base value of 100 and uses daily rebalancing. The supplement discloses historical and hypothetical performance through May 1, 2026, including a 1-year annualized return of 38.12% and annualized volatility of 21.65%, and states the index’s exposure was 170.10% on May 1, 2026. It highlights key mechanics and risks, including a two-day lag in leverage-factor calculation, reliance on futures (with negative roll yield risk), limited operating history, and issuer/credit risk tied to GS Finance Corp. and The Goldman Sachs Group, Inc.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due June 15, 2028 that pay interest at 4.50% per annum from an original issue date expected to be June 15, 2026. Interest is expected semiannually on June 15 and December 15, with the first payment expected on December 15, 2026. The notes are callable at the issuer's option in whole, not in part, on quarterly redemption dates on or after December 15, 2026, at a redemption price equal to 100% of principal plus accrued interest, subject to at least five business days' prior notice. The notes will be issued in book-entry form through DTC, have no sinking fund, and are a new issue with no established trading market. Pricing, underwriting discounts, initial price to public, and proceeds vary by investor class and are set forth in the pricing supplement and supplemental plan of distribution.

GS Finance Corp. offers Capped Buffer GEARS linked to the Russell 2000® Index with an expected original issue price of 100.00% of face and an underwriting discount of 2.00% of face. The notes provide upside exposure multiplied by a 1.25 gearing up to a 17% maximum return (maximum settlement amount $11.70 per $10 face). The structure includes a 10.00% buffer (downside threshold at 90.00% of the initial index level), a strike level of 2,920.540, an expected determination date of July 27, 2027 and stated maturity of July 30, 2027. Payments at maturity are contingent on index performance and subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering a structured, callable note linked to an equally weighted basket of 10 common stocks as described in a preliminary prospectus supplement. The notes have an initial basket level of 100, an upside participation rate of 125%, a trigger buffer level of 70% and are expected to mature on June 15, 2029, with an expected automatic call observation date of June 21, 2027. If automatically called, the cash payment will equal $1,175.5 per $1,000 face amount; if not called, payoff at maturity depends on the basket return with downside exposure below the 70% trigger buffer.

Holders bear the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., limited anti-dilution protections apply, the calculation agent (GS&Co.) has discretionary determinations, and the estimated value at pricing is shown between $925 and $965 per $1,000 face amount.

GS Finance Corp. is offering indexed notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER that mature on June 1, 2032 unless automatically called. Payments depend on the index: monthly coupons (for each $1,000 face amount) are computed as $15 times the number of observation dates minus previously paid coupons, payable only when the index on an observation date is at or above 70% of the initial underlier level of 519.37. The notes are automatically called if the index closing level on any call observation date (Nov 2026–Apr 2032) is greater than or equal to 519.37, in which case holders receive principal plus the coupon on the next payment date. The index applies up to 500% leverage, a daily cap on leverage change of 100%, and a fixed daily decrement equal to 6.0% per annum, all of which can materially reduce returns. The estimated value at pricing was approximately $969 per $1,000 face amount; original issue price was 100% with a 0.8% underwriting discount.

GS Finance Corp. priced indexed notes linked to the S&P 500® Index with a capped payout and principal downside. The offering has an aggregate face amount of $2,460,000, an original issue price of 100% of face, a 1% underwriting discount and net proceeds of 99% of face. Each note has no interest and pays at maturity either a capped $1,085 per $1,000 face amount if the final underlier level is at or above the trigger buffer level (80% of the initial level), or otherwise a cash amount equal to $1,000 plus the underlier return, meaning losses accrue 1% for each 1% decline below the initial level and the investor could lose the entire investment. Trade date was May 22, 2026, original issue date May 28, 2026, determination date June 4, 2027 and stated maturity June 9, 2027.

The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and carry credit risk of both entities. The notes are not interest bearing, are cash-settled, will not be listed, and may have limited liquidity; market value prior to maturity will be influenced by the underlier level, volatility, interest rates and issuer/guarantor creditworthiness.

GS Finance Corp. priced contingent quarterly coupon notes linked to Amazon.com, Inc. (AMZN). The offering aggregates $2,026,000 of face amount and pays contingent quarterly coupons of up to $27.50 per $1,000 per coupon observation schedule, with an automatic call if the underlier equals or exceeds the initial level on any call observation date.

The notes mature on May 28, 2030 (determination date May 22, 2030) and settle in cash. If not called, principal repayment at maturity depends on the final underlier level vs. the 79.49% trigger buffer: full principal is preserved at or above the buffer; below it, payment equals face amount multiplied by the underlier return, which could result in a total loss of principal.

Goldman Sachs & Co. LLC discloses a MOBU Focus ER index supplement addendum describing the Goldman Sachs Momentum Builder® Focus ER Index (GSMBFC5). The index applies a 5% volatility control limit, shifts exposure into non-interest bearing cash when realized volatility or negative momentum triggers apply, and charges a 0.65% per annum deduction (accruing daily). The base index can allocate widely across focused U.S. equities, developed market equities, fixed income, emerging market equities and commodities, plus a return-based money market position; as of May 7, 2026 the money market position was 65.86% of the base index. Historical and hypothetical performance from Jan 1, 2021 to May 7, 2026 are presented, including annualized performance 1.91% (index) and realized volatility 3.55%.

GS Finance Corp. supplements its prospectus for notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, describing index mechanics, risks and processes that may govern payments on the notes. The index applies a 5% volatility control, a momentum risk control adjustment, and a 0.65% per annum deduction (accruing daily). The base index weights nine eligible underlying indices plus a return-based money market position that accrues at the federal funds rate and may allocate heavily to cash positions; base-index rebalancing can produce as few as two underlying assets on any day. The supplement flags credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., potential conflicts of interest, limited index operating history (launched January 12, 2021) and tax and market‑liquidity considerations. Specific note terms, pricing and final procedures are set forth in the applicable pricing supplement and any product supplement.

GS Finance Corp. is offering autocallable, VanEck Semiconductor ETF (SMH)-linked notes due June 1, 2028 that are fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, feature an automatic call on June 8, 2027 if the underlier closes at or above the initial level, and otherwise settle in cash at maturity based on the underlier’s performance with a 20% buffer and 100% upside participation.

The notes carry issuer and guarantor credit risk, may be worth less than their issue price in secondary trading, and could result in the loss of the entire investment if the final underlier level falls below the 80% buffer level.

GS Finance Corp. is offering market-linked, auto-callable medium-term notes due June 14, 2029, guaranteed by The Goldman Sachs Group, Inc. Each note has a face amount of $1,000 and pays a monthly contingent coupon only when the lowest-performing underlier meets a 65% coupon threshold on the applicable calculation day. The contingent coupon will equal at least $8.334 per $1,000 (about 10.00% per annum) as set on the pricing date. Notes may be automatically called if the lowest-performing underlier is >= its starting value on any call date (first call measurement December 2026). If not called, principal at maturity depends solely on the lowest-performing underlier: protection applies down to a 60% downside threshold; below that you suffer proportional principal loss, potentially losing the entire investment. The estimated value on pricing is between $925 and $955 per $1,000; original offering price is $1,000. Pricing date is June 10, 2026 and original issue date is June 15, 2026. These securities are unsecured senior obligations and subject to issuer and guarantor credit risk.