Goldman Sachs Group Inc. 424B Filings

The issuer, GS Finance Corp., through a prospectus supplement, offers structured notes linked to shares of Alphabet (Class C), Meta (Class A), NVIDIA and Tesla. Coupons of $9.25 per $1,000 (0.925% monthly, 11.1% per annum potential) pay only when each index stock meets a coupon trigger (80% of its initial price). Notes may be automatically called on observation dates beginning in May 2027 if each index stock equals or exceeds its initial price, with an expected maturity of June 5, 2031. The trade date for setting initial prices is expected to be May 29, 2026. The estimated value at issuance is between $885 and $925 per $1,000 face amount. Payments are subject to the issuer’s and guarantor’s credit risk and to calculation agent discretion.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) offers principal-protected contingent coupon notes linked to PepsiCo, Philip Morris International and Salesforce maturing May 23, 2029. The notes pay monthly contingent coupons only if each index stock meets a 50% trigger on monthly observation dates and at maturity repay either $1,000 per $1,000 face amount (if all final prices ≥50% of initial) or $1,000 plus $1,000 times the lesser performing index stock return (if any final price <50% of initial). The initial index stock prices were set on May 20, 2026.

The Goldman Sachs Group, Inc. is offering Callable Zero Coupon Notes due May 26, 2041 with a principal amount of $2,889,000. The notes are original-issue-discount debt securities issued at an initial price to the public of 41.727% (total $1,205,493.03), with an indicated yield to maturity of 6.00% per annum. The notes pay no periodic interest and will be issued in global, book-entry form through DTC.

The issuer may redeem the notes in whole (not in part) on specified early redemption dates beginning May 26, 2029, at the early redemption percentages shown (for example, 49.698% on May 26, 2029, rising to 94.341% on May 26, 2040). The prospectus emphasizes investor credit risk, limited secondary-market liquidity, and U.S. federal tax treatment as original issue discount. Initial underwriting discount is 1.565%; proceeds before expenses to the issuer are listed as $1,160,280.18.

GS Finance Corp. is offering structured, automatically callable notes (CUSIP 40054RM73) linked to the State Street® Energy Select Sector SPDR® ETF (XLE) and the SPDR® S&P® Oil & Gas Exploration & Production ETF (XOP), with The Goldman Sachs Group, Inc. as guarantor. The notes have an expected trade date of June 5, 2026, an original issue date of June 10, 2026, and a stated maturity date expected to be December 9, 2027. Monthly coupons of $8.959 per $1,000 (0.8959% monthly, ~10.75% per annum) are payable only if both ETFs close at or above 70% of their initial levels on a coupon observation date. The notes will be automatically called if, on any call observation date commencing December 2026 through November 2027, each ETF closes at or above its initial level; in that event holders receive the face amount plus the applicable coupon. If not called, maturity payment depends solely on the lesser performing ETF return measured to the determination date, with a 70% trigger buffer; if the lesser ETF return is below -30% you can lose a substantial portion of principal. The estimated value at pricing is stated as between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering Digital Equity-Linked Notes due 2027, fully guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest; the maturity cash payment is linked to NVIDIA Corporation (ticker "NVDA UW") performance from the trade date to the determination date. If the final underlier level is greater than or equal to the trigger buffer level (60% of the initial level), holders receive the maximum settlement amount of $1,142.50 per $1,000 face amount. If the final underlier level is below the trigger buffer level, the cash payment equals $1,000 plus $1,000 times the underlier return, exposing holders to principal loss down to 0% of face amount. The notes have an original issue price equal to 100% of face amount, an underwriting discount of 1.1%, and net proceeds of 98.9%. The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and subject to issuer and guarantor credit risk. The pricing supplement highlights limited upside (capped at the maximum settlement amount), potential loss of principal if NVDA declines below the trigger buffer, model-valuation differences versus issue price, limited secondary-market liquidity, and uncertain U.S. federal tax treatment.

GS Finance Corp. priced an offering of autocallable, buffered S&P 500® index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of May 29, 2026, an expected original issue date of June 3, 2026, an expected call observation date of June 11, 2027 and an expected stated maturity date of June 2, 2028.

Key economic terms: for each $1,000 face amount the notes would pay at least $1,099 if automatically called; a threshold settlement amount of $1,198; 100% upside participation; a buffer equal to 10% (buffer level = 90% of initial underlier) and an approximate buffer rate of 111.11%. The estimated value at pricing is between $900 and $930 per $1,000 face amount. The notes do not bear interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering callable principal-at-risk notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER with an expected trade date of May 26, 2026 and an expected stated maturity of June 10, 2030.

The notes pay a conditional monthly coupon mechanism (monthly credit of $12.417 per $1,000 face amount, cumulative up to each coupon date) only if the index closing level on an observation date is >= 70% of the initial underlier level. The index applies up to 500% leverage, is capped for daily leverage changes, and is subject to a 6.0% per annum daily decrement. Estimated initial model value is between $905 and $955 per $1,000 face amount.

GS Finance Corp. is offering index‑linked medium‑term notes due June 10, 2030 that are fully guaranteed by The Goldman Sachs Group, Inc.. Each note has a $1,000 face amount and a payoff determined by the lesser performing of the MSCI EAFE and EURO STOXX 50 indices on the determination date.

Payment scenarios: positive payoff if both underliers finish above their initial levels (payout = face amount plus the face amount times the upside participation rate of 227.8% times the lesser performing underlier return); return of principal if underliers finish at or above the trigger buffer level of 70%; and pro rata loss below the trigger buffer, potentially resulting in a complete loss of principal. The notes pay no interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. (Guarantor: The Goldman Sachs Group, Inc.) is offering structured, callable notes linked to one ordinary share of Seagate Technology Holdings. Each $1,000 face amount pays a quarterly coupon of $95 if the index stock closes at or above 60% of the initial index stock price on a coupon observation date. The notes are expected to trade on May 26, 2026, have an expected original issue date of May 29, 2026 and a stated maturity date expected to be June 1, 2029. If the notes are automatically called when the closing price meets or exceeds the initial index stock price on any call observation date, holders receive principal plus the coupon. If not called, the cash settlement at maturity depends on the index stock return; a final index stock price below 60% of the initial index stock price results in a proportionate principal loss (potentially recovering less than 60% of face amount) and no coupon.

GS Finance Corp. is offering non-interest bearing, principal‑at‑risk notes linked to the common stock of Micron Technology, Inc. The notes have an expected trade date of May 27, 2026, an expected original issue date of June 1, 2026, a call observation date of May 27, 2027 and an expected stated maturity date of June 1, 2029. If on the call observation date the closing price of the index stock is ≥70% of the initial index stock price, the notes will be automatically redeemed on the call payment date for $1,425 per $1,000 face amount. At maturity, if not called, positive returns pay 1.1× the index stock return; if the final price falls to or below 50% of the initial price the investor suffers proportional losses (potentially losing the full investment). The estimated value at pricing is expected to be between $925 and $955 per $1,000 face amount. Credit risk rests with GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers autocallable contingent coupon index-linked notes due June 10, 2032. The notes reference the Dow Jones Industrial Average, Russell 2000 and S&P 500 and pay a contingent quarterly coupon of 2.5375% per quarter (up to 10.15% per annum) if each underlier meets a 70% coupon trigger on observation dates.

The notes are automatically called if each underlier is at or above its initial level on any call observation date, and the cash settlement at maturity (if not called) is based solely on the lesser performing underlier. The trade date is June 5, 2026, original issue date is June 10, 2026, and the determination date is June 7, 2032. Investors bear issuer and guarantor credit risk and may lose their entire investment if the lesser performing underlier declines below its 70% trigger buffer.

GS Finance Corp. is offering callable contingent coupon index-linked notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and will pay a contingent monthly coupon of $7.50 per $1,000 (0.75% monthly; up to 9.00% per annum) only if the closing level of each underlier is at or above its coupon trigger level on the applicable coupon observation date. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 indices, use the lesser performing underlier to determine the cash settlement at maturity and are callable by the issuer on coupon payment dates beginning December 2026. If the final level of the lesser performing underlier is below its trigger buffer level (60% of initial), investors can lose a substantial portion or all of their investment; if the lesser performing underlier closes at or above the buffer level, the cash settlement is capped at 100% of face amount. Trade date is May 28, 2026, original issue date is June 2, 2026, and stated maturity is December 2, 2027. The notes are subject to issuer and guarantor credit risk, limited liquidity, model-based pricing that exceeds estimated value at issuance, and uncertain U.S. federal income tax treatment.

GS Finance Corp. is offering leveraged, buffered Russell 2000® Index-linked notes due 2027 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash payment at maturity tied to the Russell 2000® performance from the trade date June 5, 2026 to the determination date July 6, 2027.

The terms include an upside participation rate of 110% subject to a maximum settlement amount of $1,220 per $1,000 face amount, and a buffer equal to 10% (buffer level 90%). If the final index level is at or above the buffer level but not above the cap trigger, you receive the face amount; declines beyond the buffer expose investors to proportional principal losses.

GS Finance Corp. is offering autocallable equity-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc., with payoff tied to the worst-performing of three stocks: Amazon (AMZN), NVIDIA (NVDA) and Tesla (TSLA). For each $1,000 face amount, the notes pay $1,280 on the call payment date if each underlier is at or above its initial level on the call observation date. If not called, the maturity payoff depends solely on the lesser performing underlier: investors receive $1,000 plus 130% participation of the lesser performing underlier return if that final level is greater than its initial level; otherwise they receive the face amount. Key dates include trade date June 11, 2026, original issue date June 16, 2026, call observation date June 11, 2027, call payment date June 18, 2027, determination date June 11, 2031 and stated maturity June 18, 2031. The notes bear no interest, are subject to issuer and guarantor credit risk, and are treated as contingent payment debt instruments for U.S. federal income tax purposes.

GS Finance Corp. is offering structured notes linked to Cadence Design Systems, Inc. common stock. Each note has a $1,000 face amount and is expected to trade on May 29, 2026, with an original issue date of June 3, 2026 and an expected stated maturity of July 2, 2027.

Notes pay a monthly coupon of $13.25 per $1,000 (1.325% monthly; 15.9% annualized) only if the index stock meets a coupon trigger of 60% of the initial index stock price on coupon observation dates. Notes are automatically called if the index stock closes at or above the initial index stock price on any call observation date. At maturity, if the final index stock price is below 60% of the initial index stock price, principal is reduced pro rata by the index stock return. The estimated value on the trade date is between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering principal‑protected, autocallable notes linked to the common stock of Cadence Design Systems, Inc. (index stock). Each note has a $1,000 face amount, a monthly coupon of $11.25 per $1,000 (1.125% monthly; up to 13.5% per annum) payable only if the index stock closes at or above 60% of the initial index stock price on a coupon observation date. Notes may be automatically called if the index stock closes at or above the initial index stock price on any call observation date; maturity is expected to be July 2, 2027 (determination date expected June 29, 2027). If not called, principal at maturity is tied to the index stock return with a downside that can deliver less than 60% of face amount if the final index stock price is below the 60% trigger. Estimated value at pricing is expected between $925 and $955 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; payments depend on issuer/guarantor creditworthiness.

GS Finance Corp. is offering principal-protected notes linked to the common stock of Western Alliance Bancorporation. The notes pay a quarterly coupon (based on $41.375 per $1,000 face amount) only if the index stock closes at or above 70% of the initial index stock price on coupon observation dates. Notes will be automatically redeemed if the index stock closes at or above the initial index stock price on any call observation date (expected to begin November 2026). If not called, final payment at the stated maturity (expected December 2, 2027) depends on the index stock return: investors receive full principal plus any final coupon if the final index stock price is >= 70% of the initial price, or a pro rata loss (index stock return times $1,000) if below that threshold. The estimated model value at pricing is $925–$955 per $1,000, below the original issue price of 100%.

GS Finance Corp. is offering autocallable equity-linked notes due 2030, guaranteed by The Goldman Sachs Group, Inc. The notes reference Alphabet Inc. Class A (ticker "GOOGL UW") and pay no interest. Each $1,000 face amount can be automatically called on specified quarterly observation dates if the underlier is at or above its initial level, producing a call payment equal to $1,000 plus a call premium. If not called, maturity payments depend on the final underlier level: a capped upside (maturity premium 48.80%), full return if the final level is at or above the buffer level (80% of initial), or a downside exposure that can result in a substantial loss (examples show payments as low as 40% of face when the final underlier level is 20% of the initial). Key economic terms (call dates, call premium schedule, buffer 80%, buffer amount 20%, buffer rate 100%) are set in the pricing supplement; trade date is May 28, 2026 and original issue date is June 2, 2026.

GS Finance Corp. is offering Autocallable Contingent Coupon Barrier Notes linked to the common stock of NVIDIA Corporation due May, 2029 (approximately a 36-month term if not called). Each $10 unit may pay quarterly Contingent Coupon Payments of $0.45–$0.50 (about 18–20% per annum) if quarterly observation values meet a 75% Coupon Barrier. The notes will be automatically called if an Observation Value on a Call Observation Date is at or above the Call Value (100% of the Starting Value), in which case you would receive $10 plus the then-due contingent coupon. If not called, at maturity holders face 1-to-1 downside with the Threshold Value set at 75% of the Starting Value, exposing up to 100% of principal. Payments are 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 $9.25–$9.55 per $10, below the $10 public offering price. The minimum initial purchase is $100,000.

GS Finance Corp. offers $8,041,000 of callable, index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay at maturity or earlier if automatically called based on the linked Goldman Sachs Momentum Builder® Focus ER Index and carry a 100% upside participation rate.

The notes have an original issue price equal to 100% of face, an estimated trade-date model value of $893 per $1,000 face amount (below issue price) and an additional amount of $60.75 that amortizes to zero by August 19, 2026. Automatic call tests occur annually beginning May 20, 2027, with rising call levels and corresponding call premiums; if not called, maturity is May 26, 2033.

GS Finance Corp. is offering principal-protected notes linked to three stocks: Tesla, Shopify (Class A) and NVIDIA, with an expected trade date of May 28, 2026 and an expected stated maturity of May 31, 2030. The notes carry an automatic call feature beginning on May 28, 2027 on specified observation dates; if all three index stocks close at or above their initial prices on a call observation date, each $1,000 note is redeemed for $1,000 plus a call premium (the call premium increases by observation date). At maturity, if the notes are not called, payment depends solely on the performance of the lesser performing index stock: the maximum cash settlement is $1,472 per $1,000 and, if any index stock finishes below its initial price, holders receive $1,000 per $1,000 face. The estimated value on the trade date is stated as $905–$945 per $1,000 face; original issue price is 100% of face. These notes are unsecured obligations of GS Finance Corp. and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering $33,355,700 aggregate face amount of Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons of $0.225 per $10 only if both the Nasdaq-100 and the Dow close at or above a 70% coupon barrier on each observation date. Commencing November 2026 the notes will be automatically called if both indices close at or above their initial index levels; if not called, principal repayment at maturity is contingent: holders receive $10 per $10 face only if both final index levels are at or above their 70% downside thresholds, otherwise repayment is proportionate to the lesser performing index return, and loss of principal (up to 100%) is possible. The estimated value on the trade date was approximately $9.89 per $10.

GS Finance Corp. offers $17,211,650 of Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a quarterly contingent coupon of $0.275 per $10 (up to 11.00% per annum) only if both the Nasdaq-100 and the Dow close at or above 70% of their initial levels on each observation date. Beginning November 2026 the notes may be automatically called if each index equals or exceeds its initial level; at maturity the cash repayment per $10 depends on the lesser performing index and may be less than principal, including a total loss.

GS Finance Corp. is offering medium-term notes, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $1,130,000. The notes pay no interest, feature an automatic call on the call observation date if the underlier closes at or above the initial level, and otherwise pay a cash settlement at maturity on May 24, 2029 tied to the performance of the S&P 500® Futures Excess Return Index.

The notes provide an upside participation rate of 200%, a buffer level equal to 80% of the initial underlier level and a buffer-derived loss formula if the final underlier level is below the buffer. The initial underlier level is 598.06 and the call payment (if called) equals $1,140 per $1,000 face amount on the call payment date. Timing and many outcomes are subject to adjustments described in the accompanying supplements.

GS Finance Corp. offers structured notes linked to the S&P 500® Index with a capped upside and a 15% downside buffer. For each $1,000 face amount, the cash payment at maturity depends on the underlier return from May 20, 2026 (trade date) to May 22, 2028 (determination date). If the final level is at or above the initial level, payoff equals the underlier return up to a $1,180 cap. If the final level falls but stays within the 15% buffer, the investor receives the absolute underlier return. If the final level falls below the 85% buffer level, losses accrue dollar-for-dollar below the buffer, and investors could lose a substantial portion of principal. The notes pay no interest, are senior unsecured obligations of GS Finance Corp., and are fully guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering autocallable contingent coupon index-linked notes due 2032, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent quarterly coupon of 2.75% (up to 11.00% per annum) when each underlier is at or above a coupon trigger level of 75% of its initial level. The three underliers are the Dow Jones Industrial Average, the Russell 2000 and the S&P 500. Notes are automatically called if, on a call observation date, each underlier closes at or above its initial level; otherwise maturity cash depends on the lesser performing underlier and may result in a total loss of principal. Trade date is June 5, 2026, original issue date June 10, 2026, and stated maturity June 10, 2032.

The prospectus supplement describes a primary offering of structured medium-term notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The notes link returns to three stocks with initial index stock prices set on May 18, 2026, mature on August 23, 2027, and include an automatic call feature beginning in November 2026. Coupons accrue monthly at $16.667 per $1,000 face amount (1.6667% monthly) only if each index stock meets a coupon trigger equal to 45% of its initial price; otherwise coupons are zero. Estimated value at pricing was $959 per $1,000; original issue price is 100% of face amount.

GS Finance Corp. priced leveraged, callable notes linked to the S&P 500® Futures Excess Return Index. The notes trade with a trade date of May 20, 2026 and a stated maturity of May 27, 2031. The initial underlier level is 598.06 and the upside participation rate is 345%. The notes pay no interest, have an estimated value of approximately $977 per $1,000 face amount on the trade date, and were issued at 100% of face amount with a 0.75% underwriting discount.

The notes are callable on monthly call payment dates beginning June 2, 2027 through April 28, 2031 at 100% of face plus a specified call premium; the trigger buffer level is 70% of the initial underlier level. At maturity, payoff per $1,000 is participation of 345% of the index return if the final level > initial level; otherwise floor or downside applies (full principal loss if final < 70% of initial). Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, principal‑at‑risk notes tied to ServiceNow, Inc. stock. Each $1,000 face amount will pay no periodic interest and will settle in cash at maturity based on the underlier return, subject to a 150% upside participation rate and a $4,844.50 maximum settlement amount.

If the final underlier level is at or above 60% of the initial level, investors receive at least the face amount; if it is below 60%, holders lose an amount equal to the underlier return times $1,000 and could lose their entire investment. The notes trade on a 100% issue price (underwriting discount 0.75%, net proceeds 99.25%) with a May 20, 2026 trade date and a stated maturity in May 2031. These notes are unsecured senior debt of GS Finance Corp. and subject to issuer and guarantor credit risk.

GS Finance Corp. offers structured, principal‑at‑risk notes linked to Boston Scientific Corporation common stock (trade date May 20, 2026, stated maturity June 24, 2027). The notes have a $1,000 face amount per note and aggregate face amount of $3,004,000 on the original issue date. If the final index stock price on the determination date is ≥60% of the initial index stock price of $56.67, holders receive a capped threshold settlement amount of $1,126.5 per $1,000 face amount; if the final index stock price is below that threshold, the cash settlement equals $1,000 plus $1,000 times the index stock return, which can result in a loss of principal (including a total loss).

The notes pay no interest, the estimated value on the trade date was approximately $978 per $1,000 face amount, and the original issue price is 100% of face amount. The underwriting discount is 1.1% and net proceeds to the issuer are 98.9% of face amount. Payment at maturity and adjustments (including anti‑dilution) are determined by Goldman Sachs & Co. LLC acting as calculation agent.

GS Finance Corp. priced contingent monthly coupon notes linked to three underliers. The offering has an aggregate face amount of $3,418,000 and $1,000 face amount per note. Coupons of $13.125 per $1,000 (1.3125% monthly; up to 15.75% annualized) pay only when each underlier meets a 60% coupon trigger on observation dates. The cash settlement at maturity (stated maturity May 23, 2031) is based solely on the lesser performing underlier versus its initial level; if that lesser underlier finishes below its 50% trigger buffer level you can lose up to your entire investment. The issuer may redeem the notes on specified coupon payment dates beginning November 2026. Calculation agent is Goldman Sachs & Co. LLC. The notes are senior obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., carry issuer and guarantor credit risk, and are not bank deposits or FDIC insured.

GS Finance Corp. is offering structured, non‑interest bearing notes with an aggregate face amount of $1,889,000. The notes reference the Russell 2000® and S&P 500® indices, include an automatic call feature on annual observation dates, a 100% upside participation rate and an 85% buffer level. If not called, maturity payoff depends on the lesser performing underlier on the May 20, 2031 determination date and the notes can result in substantial principal loss.

The offering is fully guaranteed by The Goldman Sachs Group, Inc., carries an underwriting concession of 3.75%, and has a stated maturity of May 28, 2031.

GS Finance Corp. offers structured medium-term notes (guaranteed by The Goldman Sachs Group, Inc.) linked to the common stock of NVIDIA Corporation and Tesla, Inc. The notes pay a contingent monthly coupon of $21.667 per $1,000 (2.1667% monthly, potential ≈26.00% per annum) when each underlier is at or above 70% of its initial level on observation dates and are subject to an automatic call if both underliers close at or above their initial levels on any call observation date. At maturity (May 30, 2028), if not called, cash settlement for each $1,000 face amount depends on the lesser performing underlier versus its initial level (full principal preserved only if that lesser performing underlier is ≥60% of initial; losses may be up to 100% of principal). Trade date: May 20, 2026; original issue date: May 26, 2026.

GS Finance Corp. offers buffered EURO STOXX 50 Index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest. At maturity the cash payment depends on the EURO STOXX 50 performance versus a 90% buffer level, with a capped maximum settlement of $1,210 per $1,000 face amount and potential for total loss if the final underlier level falls sufficiently below the buffer level.

The pricing terms (including original issue price at 100% and a 1.5% underwriting discount) and key dates (trade date May 26, 2026, original issue date May 29, 2026, determination date May 26, 2028, stated maturity June 1, 2028) are set forth in this pricing supplement.

GS Finance Corp. is offering contingent monthly-coupon, equity-linked notes tied to the common stock of Netflix, Inc. (underlier). The notes pay a monthly coupon of $10.375 per $1,000 (1.0375% monthly; up to 12.45% per annum) when the underlier closes at or above 70% of the initial level on observation dates, are subject to an automatic call if Netflix closes at or above the initial level on a call observation date, and settle in cash at maturity. The aggregate face amount is $2,835,000, original issue price is 100% of face, underwriting discount is 2.1%, and the notes mature on November 26, 2027 (determination date November 22, 2027). If not called, final cash settlement equals $1,000 if the final underlier level is at or above the 70% trigger buffer; otherwise investors receive $1,000 × the underlier return and could lose their entire investment.

GS Finance Corp. offers $11,555,000 of market-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes provide exposure to an unequally weighted basket of five indices with a 100.00% participation rate and a cap that limits the maximum cash payment to $1,385.00 per $1,000 face amount (a 38.50% maximum return). The trade date is May 20, 2026, original issue date May 26, 2026, determination date May 22, 2029 and stated maturity date May 25, 2029. The estimated value on the trade date is approximately $968 per $1,000 face amount. Payments, including principal, depend on the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering $5,431,000 aggregate face amount of medium‑term notes, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10 per $1,000 (1% monthly, up to 12.00% per annum) only if each underlier is at or above 70% of its initial level on the coupon observation dates and are subject to an automatic call if, on any call observation date, each underlier is at or above its initial level. If not called, the cash payment at maturity for each $1,000 face amount depends solely on the performance of the lesser performing underlier on the determination date and can result in a total loss of principal. Key dates: trade date May 20, 2026, original issue date May 26, 2026, determination date May 20, 2030, stated maturity date May 23, 2030. Pricing: original issue price 100% of face amount, underwriting discount 0.75%, net proceeds 99.25%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, non‑interest bearing notes linked to the S&P 500 Index. Each $1,000 face‑amount note pays at maturity based on the underlier return measured from May 20, 2026 to July 20, 2027, subject to a 10% buffer and a capped maximum upside settlement of $1,102.

The notes return the underlier gain (up to the cap) if the index finishes at or above the initial level, pay the absolute value of a decline up to the buffer, and expose holders to full downside below the 90% buffer level. The issue price is 100% of face amount with a 2% underwriting discount.

GS Finance Corp. is offering callable S&P 500® Futures Excess Return Index-linked notes due May 27, 2031 with an aggregate face amount of $1,178,000. The notes pay no interest, have an upside participation rate of 410% and reference an initial underlier level of 598.06 (trade date May 20, 2026). If the final underlier level on the determination date is above the initial level, holders receive the face amount plus 410% of the index return; if the final level is between 70% of the initial level and the initial level, holders receive the face amount; if below 70%, holders suffer a proportional loss and could lose their entire investment. The issuer may redeem the notes on specified monthly call payment dates beginning in May 2027, with call payments capped at the published call premium amounts. The estimated value at pricing was approximately $967 per $1,000 face amount and the original issue price was 100% of face amount.

GS Finance Corp. priced principal-at-risk notes linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 face amount and the pricing supplement shows an aggregate initial sale of $1,420,000. The notes pay no interest, carry a 200% upside participation rate, and include an 80% buffer level and an automatic-call on the call observation date if the underlier closes at or above the initial level. If automatically called, the call payment is $1,286 per $1,000. If not called, maturity payoff depends on final underlier level: full principal or a reduced cash amount that can result in a total loss of invested principal. The notes are unsecured senior debt of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and mature in May 2031.

The issuer, GS Finance Corp., is offering indexed, fixed‑coupon notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. Each note pays an annual fixed coupon of $13.5 per $1,000 face amount and at maturity will return either the face amount or, if the index is higher, $1,000 plus 800% of the index return. The notes have an expected trade date of May 29, 2026, original issue date of June 3, 2026 and an expected stated maturity of June 3, 2033. The index applies a 0.65% per annum deduction (accruing daily) and a volatility control that can shift exposure to non‑interest bearing cash positions; realized volatility above a 5% threshold or negative momentum can materially reduce index exposure and performance. The estimated model value at pricing is $850–$880 per $1,000 face amount, below the original issue price.

GS Finance Corp. is offering structured, cash-settled notes with an aggregate face amount of $2,111,000 under a Pricing Supplement dated May 20, 2026. The notes pay a contingent monthly coupon (up to 0.7834% per month) and are automatically called if all three underliers meet their initial levels on a call observation date.

At maturity (stated maturity April 27, 2028), if not called, the cash settlement depends on the performance of the lesser performing underlier; principal can be lost if that underlier finishes below its 70% trigger buffer level. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering callable S&P 500® index-linked notes due, expected to mature on June 9, 2031, and guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity for each $1,000 face amount either (a) $1,000 plus participation equal to 100% of any positive S&P 500® index return measured from the trade date (expected June 4, 2026) to the determination date (expected June 4, 2031), or (b) $1,000 if the index return is zero or negative. The issuer may redeem the notes on specified quarterly call payment dates beginning June 9, 2027 at $1,000 plus a call premium (examples include at least 9.4% on the first call date). The estimated value on the trade date is between $885 and $915 per $1,000 face amount; original issue price is 100% of face with an underwriting discount of 2.5%.

GS Finance Corp. is offering leveraged callable notes linked to the S&P 500® Futures Excess Return Index with a stated maturity of May 26, 2033. Each $1,000 face amount pays at maturity either $1,000 (if the final index level is equal to or below the initial level of 598.06) or $1,000 plus 4.6 times the index return if the final level is greater. The issuer may redeem the notes on specified monthly call payment dates beginning May 26, 2027, with preset call premium amounts listed in the supplement. The notes do not pay interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date was approximately $928 per $1,000 face amount; original issue price is 100%.

GS Finance Corp. priced principal-at-risk notes linked to the MSCI EAFE Index. The offering totals $1,618,000 aggregate face amount with an original issue price of 100% of face and net proceeds to the issuer of 98.75% of face. The notes pay no interest, include an automatic call on the call observation date if the index closes at or above the initial level, and carry an upside participation rate of 185% and a trigger buffer level of 80%. If automatically called on the call observation date the issuer will pay $1,120 per $1,000 face on the call payment date. If not called, maturity payment depends on the final index level: investors may receive enhanced upside, return of principal, or suffer losses down to the full principal amount. The notes are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. and are subject to issuer and guarantor credit risk.

GS Finance Corp. offers underlier-linked notes due 2027 guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and a capped maximum settlement of $1,110. Payment at maturity depends solely on the lesser performing underlier (Russell 2000, EURO STOXX 50, XLU ETF) measured from trade date May 26, 2026 to determination date June 28, 2027. If every underlier’s final level is ≥ the 70% trigger buffer, holders receive the maximum settlement amount; if any underlier is below its trigger buffer, the cash payment equals $1,000 plus $1,000 × the lesser performing underlier return, exposing holders to principal loss up to the full investment. Notes pay no interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering contingent quarterly-coupon, autocallable notes linked to the Nasdaq-100, Russell 2000 and S&P 500. Each $1,000 note pays a contingent quarterly coupon of $26.625 if all underliers equal or exceed 55% of their initial levels on the coupon observation date, is automatically called if all underliers reach or exceed their initial levels on a call observation date, and at maturity returns either $1,000 or $1,000 plus the lesser performing underlier return applied to $1,000, depending on the final lesser performing underlier level. Trade date is May 20, 2026, original issue date May 26, 2026, and stated maturity is May 24, 2029. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and market risks, possible loss of principal and limited upside.

GS Finance Corp. offers $1,000-face leveraged buffered S&P 500® index-linked notes due July 9, 2027, guaranteed by The Goldman Sachs Group, Inc. The cash payment at maturity depends on S&P 500 performance from the trade date June 5, 2026 to the determination date July 6, 2027. The notes have a 10% buffer, 110% upside participation capped at a $1,155 maximum settlement per $1,000 face amount, pay no interest, and expose holders to issuer and guarantor credit risk. The prospectus warns that holders may lose a substantial portion of principal if the final underlier level falls below the 90% buffer level.

The issuer, GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.), is offering callable, equity‑linked notes tied to four individual stocks with an expected stated maturity of May 29, 2029. Each note has a $1,000 face amount and monthly coupon mechanics that can produce up to approximately 13% per annum, paid only when all four reference stocks meet monthly coupon trigger thresholds (each set at 50% of its initial index stock price). Notes are automatically called if all four stocks equal or exceed their initial prices on a call observation date; at maturity, payments either return principal plus any final coupon or, if a trigger event occurs, deliver an amount linked to the lesser performing stock and may result in significant principal loss. Initial index stock prices were set on May 21, 2026. The estimated model value at pricing is between $925 and $955 per $1,000 face amount.