Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of 1.0834% per month (up to ~13.00% per annum) and are linked to the Nasdaq-100, Russell 2000 and S&P 500. Coupons are paid only when each underlier is at or above a 70% coupon trigger level on observation dates. The notes are automatically called if, on any call observation date, each underlier is at or above its initial level; otherwise the cash settlement at maturity depends solely on the lesser performing underlier. If the lesser performing underlier ends below its trigger buffer level (70%), principal can be substantially lost (example: a final level of 17.000% would yield 17.000% of face, an 83.000% loss). Trade date is May 27, 2026, original issue date June 1, 2026, and stated maturity is May 4, 2028. The notes are cash-settled, not equity, not FDIC-insured, and their estimated model value is lower than the original issue price.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering Callable SOFR-Linked Range Accrual Notes due June 3, 2041. Each note has a $1,000 principal amount, an interest factor set at least at 8.40% for the first four quarterly payments, and quarterly payments expected to commence in September 2026. After the first four payments, interest for each quarter will equal the interest factor multiplied by the fraction of reference dates in that quarter on which SOFR is within the 0.00%–5.00% trigger range; if SOFR is outside that range on every reference date in a period, no interest will be paid for that quarter. The issuer may redeem the notes in whole on any quarterly interest payment date on or after June 3, 2027 at 100% of principal plus accrued interest. The notes are unsecured, not bank deposits, and subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering $5,111,000 aggregate face amount of medium-term contingent quarterly coupon, automatic-call notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Amazon.com, Inc. (initial underlier level $264.14) and mature on May 18, 2029 (determination date May 15, 2029).

Coupons are contingent quarterly amounts (up to $25.375 per $1,000 accrual step) payable only if the underlier closes at or above the coupon trigger level (70%) 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, principal repayment depends on the final underlier level and may result in a total loss if the final level is below the trigger buffer level (70%).

GS Finance Corp. offers principal-protected, autocallable notes linked to Tesla, Shopify Class A and NVIDIA common stock that mature expected to be May 31, 2030. The notes pay no interest, may be automatically called beginning on May 26, 2027 if each index stock closes at or above its initial price, and at maturity pay either $1,472 per $1,000 face amount (if each final price is >= initial price) or $1,000 per $1,000 face amount (if any final price is below its initial price). The estimated value on the trade date is $905–$945 per $1,000 face amount. The calculation agent is Goldman Sachs & Co. LLC, which has discretion over pricing, postponements and anti-dilution adjustments. The notes are unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc.; payments are subject to issuer and guarantor credit risk.

GS Finance Corp. offers $8,260,000 aggregate face amount of Trigger Autocallable GEARS linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The securities mature on May 22, 2031 (determination date May 19, 2031) and may be automatically called on May 25, 2027 if the index meets the autocall barrier.

The terms set an initial index level of 7,403.05, an autocall barrier of 100.00% of that level, upside gearing of 1.502, a downside threshold of 75.00% of the initial level, and a call return of 9.00%. The original issue price is 100.00% of face amount with an underwriting discount of 2.50%. The pricing supplement states an estimated value of approximately $9.67 per $10 face amount on the trade date.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable, contingent‑coupon notes linked to the Class C capital stock of Alphabet Inc., and the common stock of Apple Inc., NVIDIA Corporation and Bank of America Corporation. The notes pay either a maximum coupon of $7.50 per $1,000 face amount (0.75% monthly, up to 9% per annum) or a minimum coupon of $0.209 per $1,000 (0.0209% monthly, approx. 0.25% per annum) on each coupon payment date depending on whether each index stock meets an 80% trigger relative to its initial price. The notes are subject to automatic call if, on a call observation date, each index stock is at or above its initial price and mature on the stated maturity date (expected June 3, 2031), unless called earlier. The trade date is expected to be May 27, 2026; the original issue date is expected to be June 1, 2026. The estimated value at pricing is expected to be between $885 and $925 per $1,000 face amount, below the issue price. Payment obligations are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering callable 10‑Year CMT Rate‑Linked Range Accrual Notes, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly interest determined by (i) the fraction of reference dates in each interest period where the 10‑year CMT rate is ≤ 5.25% multiplied by an interest factor (set on the trade date, expected between 6.97% and 8.20%). Interest payments are quarterly on or about the 27th of Feb/May/Aug/Nov, commencing ~August 27, 2026, with stated maturity ~May 27, 2031. The issuer may redeem the notes at 100% of face on any quarterly interest payment date on or after May 27, 2027. Estimated value at pricing is between $932 and $972 per $1,000 face amount; original issue price equals 100% of face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk, limited secondary market liquidity, model‑driven pricing and potential conflicts because GS&Co. is calculation agent and expected market‑maker.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Amazon.com, Inc. and are offered with a $1,000 face amount per note.

The notes pay a contingent quarterly coupon only if the closing level of the underlier is greater than or equal to a coupon trigger level of 65% of the initial underlier level; each coupon period’s payable amount is described as the product of $26.625 times the number of coupon observation dates less prior coupons. The notes will be automatically called if the closing level of the underlier on any call observation date is greater than or equal to the initial underlier level, in which case holders receive $1,000 plus any coupon then due.

Trade date is May 28, 2026, original issue date is June 2, 2026, determination date is November 29, 2027, and stated maturity date is December 2, 2027. The pricing supplement emphasizes principal risk: if the final underlier level is below the trigger buffer level of 65%, holders may lose some or all of their investment, with cash settlement tied to the underlier return.

GS Finance Corp. offers $15,294,000 aggregate face amount of Trigger Autocallable GEARS linked to the EURO STOXX 50® Index, due May 22, 2031, guaranteed by The Goldman Sachs Group, Inc. The securities carry an automatic call on May 25, 2027 if the index closing level is at or above the autocall barrier (100% of the initial index level), producing a fixed call return of 20.00% per $10 face amount if called. If not called, maturity payoffs depend on the final index level: upside participation uses an upside gearing of 1.36; full principal is returned only if the final level is ≥ the initial level or ≥ the downside threshold (75% of the initial level); if final level < 75% the holder suffers proportional losses. The trade date is May 18, 2026 and original issue date is May 21, 2026. Estimated value at issuance was approximately $9.62 per $10 face amount and the original issue price equals 100.00% of face amount. Investors bear credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., no periodic coupons are paid, and secondary-market liquidity may be limited.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due June 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10.209 per $1,000 face amount when each underlier is >= 70% of its initial level on the related observation date and will be automatically called if all underliers are >= their initial levels on a call observation date. At maturity, if not called, cash payment for each $1,000 face amount equals $1,000 if the lesser performing underlier is >= its 55% trigger buffer level; otherwise the payment equals $1,000 × lesser performing underlier return, so investors can lose up to the full principal. Underliers are the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. Trade date is May 29, 2026 and original issue date is June 3, 2026.

GS Finance Corp. is offering autocallable index-linked notes due June 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and EURO STOXX 50 indices, bear no interest and include semi-annual automatic call dates.

Payments depend on the lesser performing underlier: an upside participation rate of 100%, a trigger buffer at 60% of the initial level, and a schedule of call premiums (first call 15%, final listed call premium 67.5%). If an underlier falls below its trigger buffer at maturity, investors may lose a substantial portion or all of their investment. Trade date is May 27, 2026 and original issue date is June 1, 2026.

GS Finance Corp. offers structured notes linked to the Nasdaq-100 Index under a Pricing Supplement dated May 18, 2026. The offering has an aggregate face amount of $1,261,000 and an original issue price equal to 100% of face amount. The notes pay no interest, carry a 138% upside participation rate, and feature an automatic call on May 21, 2027 if the closing level of the Nasdaq-100 is greater than or equal to the initial level. If called, holders receive $1,150 per $1,000 face amount; if not called, maturity payoff on May 22, 2031 depends on the final underlier level relative to the initial level and an 80% trigger buffer. 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 guarantor credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., priced a May 2026 preliminary pricing supplement for Jump Securities with an auto-callable feature linked to the worst-performing of three State Street sector ETFs. The securities are unsecured notes with principal-at-risk, a stated principal amount of $1,000 per security, an expected original issue date of June 3, 2026, and an expected stated maturity date of June 4, 2032.

The product offers fixed call premiums if, on any call observation date, each underlying ETF closes at or above 90% of its initial ETF price; otherwise the securities remain outstanding and the maturity payout, if any, is based 1-to-1 on the worst-performing underlying ETF and could be zero. The pricing supplement shows an estimated value range of $880 to $940 and an underwriting discount of 3.50%.

The issuer GS Finance Corp. is offering 100,500 autocallable Contingent Coupon (with Memory) Barrier Notes linked to the Class A common stock of Coinbase Global, Inc., with a $10 principal amount per unit and an expected maturity of May 25, 2027 if not called. The notes pay a quarterly contingent coupon of $0.675 per unit (a 27.00% annualized contingent rate) when the Observation Value on a Coupon Observation Date is at or above the Coupon Barrier ($94.72), and are automatically called if the Observation Value on a Call Observation Date is at or above the Call Value ($189.44). At issuance the estimated value was approximately $9.69 per $10 principal and the public offering price is $10.00 per unit, with minimum initial purchase $100,000.

GS Finance Corp. is offering market-linked, auto-callable notes — Medium-Term Notes, Series F — linked to the common stock of SoFi Technologies, Inc., with payment features that depend on the underlying stock's quarterly closing prices. The securities carry a contingent coupon of $58.875 per $1,000 (equivalent to 23.55% per annum when paid) and a starting price of $15.71. The notes are guaranteed by The Goldman Sachs Group, Inc. and have an original offering price of $1,000 per security; the pricing supplement shows an estimated value of approximately $965 per $1,000 on the pricing date. If the notes are not auto‑called, principal at maturity depends on the final stock closing price relative to a downside threshold equal to 60% of the starting price, which can result in losses greater than 40% or total loss of principal. All payments are subject to GS Finance Corp. and Goldman Sachs credit risk.

The offered notes from GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., are contingent‑coupon, auto‑callable notes linked to the Nasdaq‑100 Technology Sector Index, the Russell 2000® Index and the S&P 500® Index. The offering aggregates $2,910,000 of face amount and was priced at 100% of face on a trade date of May 18, 2026 with an original issue date of May 21, 2026.

The notes pay a contingent monthly coupon of $9.625 per $1,000 (0.9625% monthly; potential up to 11.55% per annum) when each underlier is at or above 65% of its initial level on the coupon observation date. The notes are automatically called if, on any call observation date, each underlier is at or above its initial level; maturity is May 23, 2029. If not called, the cash settlement at maturity is based solely on the lesser performing underlier return, and investors may lose their entire investment if that return is sufficiently negative.

GS Finance Corp. offers $1,000-face leveraged buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and provide upside participation of 125% in positive S&P 500 performance capped at a maximum settlement amount of at least $1,242 per $1,000 face. If the S&P 500 finishes at or above 90% of its initial level, holders receive at least the face amount; if it finishes below the 90% buffer, investors suffer proportional losses (losses illustrated up to 67% of face in the examples). The trade date is May 28, 2026, original issue date June 2, 2026, determination date May 30, 2028 and stated maturity date June 2, 2028. The original issue price is 100% of face with underwriting discount 1.75% and net proceeds to issuer 98.25%. The notes are subject to issuer and guarantor credit risk, limited upside by the cap, model/pricing spreads above estimated value at issuance, uncertain tax treatment, and potentially illiquid secondary markets.

GS Finance Corp. prices $1,000‑face index‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and will return either the face amount at maturity or a capped positive payment equal to the maximum settlement amount of $1,177.50 per $1,000 face, depending solely on the performance of the lesser performing underlier (the Dow Jones Industrial Average, Nasdaq‑100 and Russell 2000) measured from the trade date to the determination date.

The trade date is May 29, 2026, original issue date June 3, 2026, determination date May 30, 2028 and stated maturity June 2, 2028. If every underlier finishes at or above its initial level you receive the capped $1,177.50 per $1,000; if any underlier has a negative return you receive the $1,000 face amount. The notes are unsecured senior debt of GS Finance Corp. and carry the issuer and guarantor credit risk of Goldman Sachs.

GS Finance Corp. is offering $20,000,000 of autocallable, contingent-coupon, index-linked notes due May 25, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a monthly coupon of $6.542 per $1,000 (0.6542% monthly; up to ~7.85% per annum) only if each index closes at or above 70% of its initial level on a coupon observation date. The notes will be automatically called on a call payment date (beginning November 2026) if each index closes at or above 105% of its initial level on any call observation date; called notes pay principal plus the coupon then due. At maturity (if not called), repayment is based on the lesser performing index: if every index is >= 70% of its initial level on the determination date (May 18, 2029), holders receive principal plus any final coupon; if any index is < 70%, the cash settlement equals $1,000 times (1 + lesser performing index return), which can result in a principal loss (potentially well below 70% of face). The pricing supplement states an estimated model value of approximately $972 per $1,000 on the trade date and an original issue price of 100% with an underwriting discount of 3.918%.

GS Finance Corp. offers structured notes guaranteed by The Goldman Sachs Group, Inc. The notes link monthly coupons to the closing prices of AMD, Micron, Broadcom and Tesla, mature on May 27, 2031, and carry an automatic-call feature beginning in May 2027.

Each $1,000 face amount pays either a maximum coupon (formula based on $6.875 monthly increments) if all four stocks meet 80% trigger levels on an observation date, or a minimum coupon of $0.209 monthly. The issuer and guarantor credit risk and the notes' estimated initial value of $942 per $1,000 face amount are disclosed.

GS Finance Corp. is offering contingent income callable securities due June 3, 2031, guaranteed by The Goldman Sachs Group, Inc. Payments depend on the worst-performing of the S&P 500®, Russell 2000® and EURO STOXX 50® indices. Each underlying index has a downside threshold of 70.00% of its initial index value. Contingent quarterly coupons (set at pricing) pay only if every index closes at or above its threshold on every index business day during the prior quarterly observation period; a stated illustrative coupon is $26.25 per $1,000. If any index is below its threshold at maturity, payment equals $1,000 multiplied by the worst performing index performance factor and may be less than $700 or zero. The securities may be redeemed at issuer option on specified coupon payment dates beginning December 3, 2026. The pricing date is expected on or about May 29, 2026; estimated value range is $915 to $975 per $1,000. Underwriting discount is 3.00%; Morgan Stanley Wealth Management receives a $30 selling concession per security.

GS Finance Corp. offers Callable 10-Year CMT Rate-Linked Range Accrual Notes due May 28, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay 8.30% per annum for the first four quarterly interest dates beginning August 2026; thereafter quarterly interest depends on the number of reference dates during each interest period on which the 10-year CMT rate falls within a reference rate trigger range of 0.00% to 5.25%. The issuer may redeem the notes in whole on any quarterly interest payment date on or after May 2027 at 100% of principal plus accrued interest. Pricing is expected on or about May 22, 2026 with an original issue date expected to be May 28, 2026; stated maturity is expected to be May 28, 2033. The estimated secondary-market value range at pricing is $900 to $950 per note, the underwriting discount is 2.333%, and proceeds will be lent to The Goldman Sachs Group, Inc. Risks include issuer and guarantor credit risk, complex interest determination mechanics, limited liquidity, and conflicts of interest from hedging and calculation-agent discretion.

GS Finance Corp. offers contingent cash-settled, non‑interest bearing notes linked to an American depositary share of Taiwan Semiconductor Manufacturing Company Limited (ADS), with a stated maturity expected to be June 1, 2029. Each note has a face amount of $1,000; if the final ADS price on the determination date is greater than or equal to the initial ADS price, holders will receive a capped $1,311 per $1,000 face amount, otherwise they will receive the face amount at maturity.

The notes do not pay interest, are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc., and expose holders to the issuer’s and guarantor’s credit risk. The trade date is expected to be May 26, 2026, the original issue date is expected to be May 29, 2026, and the determination date is expected to be May 29, 2029. The estimated value at pricing is stated to be between $925 and $965 per $1,000 face amount.

GS Finance Corp. priced callable contingent coupon index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10 per $1,000 (1% monthly) when each underlier closes at or above 70% of its initial level on observation dates. If not redeemed, principal at maturity is determined by the performance of the lesser performing underlier (Nasdaq-100 Technology Sector Index, Russell 2000 Index, S&P 500 Index) relative to its initial level on May 21, 2026. A trigger buffer level of 60% applies; if the final lesser performing underlier is below that buffer the cash settlement equals 1,000 × the lesser performing underlier return, which could result in a total loss of principal. The issuer may redeem on coupon payment dates beginning in August 2026. The issue is subject to issuer and guarantor credit risk and model and market-value discounts relative to original issue price.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due May 20, 2031 with an original issue date of May 20, 2026. The notes pay interest at 4.10% per annum, payable semiannually on May 20 and November 20, beginning November 20, 2026. The offering size is $10,000,000 at an initial price of 100% per note. Underwriters’ compensation is 3.5% (proceeds to issuer: $9,650,000 before expenses). The notes are issued in book-entry form through DTC, may be redeemed at Goldman Sachs’ option in whole (but not in part) on each May 20 on or after May 20, 2029 at a redemption price of 100% of principal plus accrued interest with at least five business days’ notice. The notes are subject to FATCA withholding and distribution restrictions in multiple jurisdictions; Goldman Sachs & Co. LLC is the underwriter and will comply with FINRA Rule 5121 for conflicts of interest.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2041 with an aggregate initial principal amount of $7,528,000. The notes pay interest at 5.65% per annum from the original issue date May 20, 2026 and mature on May 20, 2041. Interest is payable annually each May 20, with the first payment on May 20, 2027. The offering price is 100% of principal; underwriting discount is 2.65% ($199,492), producing proceeds to the issuer of $7,328,508 before expenses. The notes are callable in whole (not in part) on each redemption date on or after November 20, 2028 (quarterly), at 100% plus accrued interest. The notes will be issued in book-entry form through DTC.

GS Finance Corp. is offering autocallable contingent coupon index-linked notes due May 24, 2029, fully guaranteed by The Goldman Sachs Group, Inc.

The notes pay a contingent quarterly coupon of $26.625 per $1,000 (2.6625% quarterly, 10.65% per annum) only if each underlier is at or above its coupon trigger level (55% of its initial level) on a coupon observation date and are automatically called if all underliers are at or above their initial levels on a call observation date. At maturity (if not called) cash settlement depends on the lesser performing underlier and can result in a total loss of principal; payments are in cash and the notes do not confer any shareholder rights.

GS Finance Corp. is offering structured, equity‑linked medium‑term notes (the “notes”) that pay contingent monthly coupons and may be automatically called prior to maturity. The notes reference the common stocks of Apollo Global Management, Inc., Carvana Co. Class A and Lockheed Martin Corporation, with initial index stock prices set on May 18, 2026. The notes have an expected trade date of May 20, 2026 and an expected original issue date of May 26, 2026, with a stated maturity expected to be August 23, 2027. Coupons are payable only when each index stock closes at or above 45% of its initial price on a coupon observation date (monthly); the monthly coupon reference amount is $16.667 per $1,000 face amount (1.6667% monthly). If not called, maturity payments depend solely on the performance of the lesser performing index stock, with a principal buffer at 45% of initial price (a -55% return). The estimated model value at pricing is between $925 and $955 per $1,000 face amount and the notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. offers structured, auto-callable, buffer-protected notes linked to three underliers. The notes reference the S&P 500® Index, the Russell 2000® Index and the State Street® Consumer Staples Select Sector SPDR® ETF and have an expected trade date of May 27, 2026 and stated maturity date of June 1, 2029.

Each $1,000 face amount can pay a monthly coupon of $10 (1% monthly, ~12% annual) if, on a coupon observation date, the closing level of each underlier is at least 70% of its initial level. The notes are automatically called on a call payment date if all underliers are at or above their initial levels on a call observation date, in which case holders receive principal plus the coupon then due. If not called, the maturity payout depends solely on the lesser performing underlier: if the final level of every underlier is at least 70% of its initial level, holders receive principal plus any final coupon; if any underlier is below 70%, the cash settlement equals $1,000 plus the lesser performing underlier return times $1,000, potentially resulting in substantial principal loss.

The estimated value at pricing is between $925 and $955 per $1,000 face amount. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; holders bear issuer and guarantor credit risk and tax and liquidity risks.

GS Finance Corp. offers Autocallable Contingent Coupon Equity-Linked Notes due June 1, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Palantir Technologies Inc. and pay a contingent quarterly coupon of $41 per $1,000 (a 4.1% quarterly coupon, up to 16.40% per annum) when the underlier meets the coupon trigger (50% of the initial level). The notes include an automatic call if the underlier closes at or above the initial level on any call observation date, and the maturity cash settlement depends on the final underlier level with a trigger buffer at 50% of the initial level. Trade date is May 28, 2026 and original issue date is June 2, 2026. The issue price equals 100% of face amount with a 2% underwriting discount.

GS Finance Corp. is offering non-interest-bearing notes linked to an equally weighted basket of nine common stocks, guaranteed by The Goldman Sachs Group, Inc. The notes have an upside participation rate of 125%, a buffer of 20% (buffer level = 80% of initial basket level), an expected trade date of May 22, 2026, an expected original issue date of May 28, 2026, an expected call observation date of June 4, 2027 and an expected stated maturity date of May 25, 2028. If the basket closing level on the call observation date is >= initial level, the notes will be automatically called and pay at least $1,200 per $1,000 face amount on the call payment date. If not called, payment at maturity depends on the final basket return with protection for declines up to 20%; losses occur beyond that buffer. The calculation agent is Goldman Sachs & Co. LLC. The estimated value on the trade date is between $900 and $930 per $1,000 face amount.

GS Finance Corp. offers Autocallable Contingent Coupon Equity-Linked Notes linked to Zscaler, Inc. stock due June 1, 2029. The notes pay a contingent quarterly coupon of $49.75 per $1,000 (4.975% quarterly; up to 19.90% annually) if the underlier closes at or above 50% of the initial level on each coupon observation date. The notes are automatically called if the underlier closes at or above the initial underlier level on any call observation date; in that case holders receive $1,000 plus any coupon then due. At maturity, if not called, payment depends on the final underlier level: if the final level is below the trigger buffer (50% of the initial level) the cash settlement equals underlier return×$1,000 and investors may lose a substantial portion or all of their principal. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. offers $ Buffered S&P 500® Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note pays a cash settlement at maturity tied to the S&P 500® Index performance from the trade date to the determination date, subject to a 20% buffer and a maximum upside settlement amount of at least $1,205.50. If the final index level is between the initial level and the 80% buffer level, the note pays the absolute index decline as a positive return; if the final level falls below the buffer level, losses are amplified at 125% of the decline and the investor could lose the entire investment. Notes do not pay interest and are subject to issuer and guarantor credit risk. Trade date is May 22, 2026, original issue date May 28, 2026, determination date May 22, 2028, maturity May 25, 2028.

GS Finance Corp. offers callable 10-Year CMT rate-linked range accrual notes guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly interest based on an interest factor of 7.15% multiplied by the fraction of reference dates on which the 10-year CMT rate is ≤ the reference rate barrier of 5.25%. The notes mature on May 28, 2031 with an issuer redemption option on quarterly interest dates beginning May 28, 2027. The estimated value at pricing is $912.5–$962.5 per $1,000 face amount; original issue price is 100.00%. Interest determination occurs on the fourth scheduled U.S. government securities business day prior to each interest payment date and payments use the 30/360 (ISDA) convention. Payments, including principal, are subject to the creditworthiness of the issuer and guarantor. The offering carries model‑valuation, market‑liquidity and issuer/guarantor credit risks; GS&Co. may act as calculation agent and market maker.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Netflix, Inc. and pay a contingent monthly coupon only if the underlier meets a 70% coupon trigger on observation dates. The notes feature an automatic call if the underlier closes at or above the initial underlier level on any call observation date, and the cash settlement at maturity depends on the final underlier level with a 70% trigger buffer that protects principal only down to that level; investors may lose up to their entire investment if the final underlier level is below the trigger buffer. Trade date is May 20, 2026, original issue date is May 26, 2026, and stated maturity is November 26, 2027. Terms (including exact pricing and aggregate face amount) will be set on the trade date and are subject to the pricing supplement.

GS Finance Corp. is offering structured medium-term notes guaranteed by The Goldman Sachs Group, Inc. linked to the common stocks of Apple, Tesla, Microsoft and Oracle. The notes mature on June 3, 2031 (expected) and may be automatically called on observation dates beginning in May 2027.

Each monthly coupon is contingent on index-stock closing prices versus initial prices set on the trade date (May 26, 2026 expected). If each index stock on a coupon observation date is >= 70% of its initial price, the maximum coupon of $6.959 per $1,000 face amount will be paid; otherwise the minimum coupon of $0.209 applies. The estimated value at pricing is expected to be between $885 and $935 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering contingent coupon medium-term notes linked to the common stocks of Alphabet (Class A), NVIDIA, Morgan Stanley and Tesla. The notes pay a monthly coupon equal to either $7.792 or $0.209 per $1,000 face amount depending on each monthly observation against a 77.5% coupon trigger, and will be automatically called if, on any call observation date, each index stock closes at least 95% of its initial price. Expected trade date is May 26, 2026, original issue date is May 29, 2026, and stated maturity is expected to be June 3, 2031. The prospectus discloses an estimated value at pricing of between $885 and $925 per $1,000 face amount and highlights issuer/guarantor credit risk and limited anti-dilution protection.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due June 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Dow Jones Industrial Average, the Nasdaq-100 and the Russell 2000. They pay a contingent monthly coupon of $6.875 per $1,000 (0.6875% monthly, 8.25% per annum potential) only if each underlier meets a coupon trigger of 70% of its initial level on the related observation date. The notes are automatically called if, on any call observation date, each underlier is at or above its initial level; if not called, the maturity cash settlement is based solely on the lesser performing underlier and can result in the loss of your entire investment. Trade date is May 27, 2026 and original issue date is June 1, 2026. The Pricing Supplement warns that the issue price exceeds the estimated model value and that market value and liquidity may be limited.

GS Finance Corp. offers callable contingent coupon underlier-linked notes due June 1, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $12.917 per $1,000 (1.2917% monthly, potential up to approximately 15.5% per annum) when each underlier is at or above its coupon trigger level on observation dates, and return at maturity depends solely on the lesser performing underlier versus its initial level. The notes reference the Nasdaq-100 Index, the Russell 2000 Index and the VanEck Gold Miners ETF (GDX); coupon trigger levels equal 60% of initial levels and trigger buffer levels equal 50% of initial levels. The issuer may redeem the notes on coupon payment dates beginning December 2026. The pricing terms (including original issue price and underwriting discount) and final terms will be set on the trade date.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due 2030, guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of Amazon.com, Inc.. Each note has a $1,000 face amount and pays contingent quarterly coupons subject to a 79.49% coupon trigger.

The notes may be automatically called if the underlier on a call observation date is at or above the initial underlier level. At maturity, if not called, principal repayment depends on the final underlier level; losses up to the full investment are possible. Trade date is May 22, 2026 and original issue date is May 28, 2026. The underwriting discount is 2.5% (net proceeds 97.5% of face).

GS Finance Corp. is offering Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and does not bear interest. On stated maturity the cash payment per $1,000 depends on the S&P 500’s performance from the trade date to the determination date.

If the final index level is at or above the trigger buffer level (80% of the initial level), holders receive a capped maximum settlement amount of $1,085 per $1,000. If below that buffer, holders lose 1% of face amount for each 1% the index declines below the initial level and could lose their entire investment. Trade date is May 22, 2026, original issue date May 28, 2026, determination date June 4, 2027 and stated maturity June 9, 2027. The original issue price equals 100% of face amount; underwriting discount is 1% (net proceeds 99%). The notes are subject to issuer and guarantor credit risk, limited upside, no interest, market illiquidity and uncertain U.S. tax treatment.

GS Finance Corp. offers $Callable Contingent Coupon Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent quarterly coupon of $21.875 per $1,000 (2.1875% quarterly; up to 8.75% per annum) when each underlier is at or above its coupon trigger level on observation dates. Coupons are paid only if both the Russell 2000® Index and the S&P 500® Index meet their coupon triggers (each set at 70% of its initial level). At maturity, if not redeemed, payment is based on the lesser performing underlier relative to its initial level, with a buffer at 60%; losses can amount to the full principal. The issuer may redeem the notes on coupon payment dates beginning June 2027 through February 2031. Trade date is May 26, 2026, original issue date May 29, 2026, and stated maturity is May 29, 2031.

The issuer, GS Finance Corp., is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER with a trade date of May 15, 2026 and original issue date May 20, 2026. The notes pay no interest and may be automatically called on specified observation dates beginning November 16, 2026 if the index closing level is ≥ 90% of the initial level (initial level: 508.61), producing a call payment equal to $1,000 plus a date-specific call premium.

If not called, maturity is the stated maturity date May 22, 2031, and the cash settlement at maturity depends on the final underlier level versus the initial underlier level. The maximum maturity payment is $2,037.52 per $1,000 face amount; losses are possible, including loss of the entire investment if the final underlier level declines sufficiently. The pricing supplement states an estimated value at pricing of approximately $957 per $1,000 face amount and an original issue price of 100% of face amount.

GS Finance Corp. is offering Market Linked Notes due May 20, 2031 linked to the lowest performing of the common stocks of Amazon.com, Inc., NVIDIA Corporation, Alphabet Inc. (Class A) and Broadcom Inc.. The notes carry a $1,000 face amount with an original offering price of $1,000 and an estimated value at pricing of $946 per $1,000 face amount.

The notes pay a monthly variable coupon equal to either a higher coupon of $7.916 (approximately 9.5% p.a.) or a lower coupon of $0.209 (approximately 0.25% p.a.), determined by the lowest performing underlying stock versus its coupon threshold (80% of starting price). The notes are auto-callable on specified monthly call dates beginning in May 2027 if the lowest performing stock is at or above its starting price; if not called, principal of $1,000 is payable at maturity, subject to issuer and guarantor credit risk. The pricing date is May 15, 2026 and original issue date is May 20, 2026.

GS Finance Corp. is offering contingent coupon, single-stock linked notes tied to Iron Mountain Incorporated (IRM). The notes have a $1,000 face amount per note, aggregate initial face amount of $158,000, trade date May 15, 2026 and stated maturity June 18, 2027. Coupons of $10.334 per $1,000 (1.0334% monthly, ~12.4% per annum potential) are payable on scheduled coupon payment dates only if the index stock closing price on the related coupon observation date is at least 70% of the initial index stock price ($125.07). Notes are automatically called if the index stock closing price on any call observation date is greater than or equal to the initial index stock price; if not called, the maturity payment depends on the final index stock return with a trigger buffer at 70% of the initial price (losses occur if final price <70%). The estimated value at issuance is approximately $968 per $1,000 face amount and the original issue price is 100% of face amount with a reported underwriting discount of 2.15%.

The issuer, GS Finance Corp., is offering principal-protected style structured notes linked to the common stock of Autodesk, Inc. The notes have an expected trade date of May 28, 2026 and an expected stated maturity of June 1, 2029. Coupons of $34.5 per $1,000 (3.45% quarterly; 13.8% per annum) are paid on each coupon payment date only if the index stock closing price on the related coupon observation date is at least 60% of the initial index stock price. The notes are automatically called if the index stock closing price on any call observation date is at or above the initial index stock price.

At maturity, if not called, cash settlement equals $1,000 if the final index stock price is ≥ 60% of the initial index stock price, otherwise the payment equals $1,000 plus the index stock return times $1,000, which can result in receiving less than 60% of face amount. Estimated value at pricing is between $925 and $955 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk.

GS Finance Corp. is offering structured, principal‑at‑risk notes guaranteed by The Goldman Sachs Group, Inc., linked to the EURO STOXX 50® Index with an aggregate face amount of $559,000. The notes pay no interest, carry an upside participation rate of 150% and a trigger buffer level of 80%. If the closing level of the underlier on the call observation date is greater than or equal to the initial level, the notes will be automatically called and pay $1,157.50 per $1,000 on the call payment date. If not called, the maturity payment depends on the final underlier level on the determination date and can result in full loss of principal if the final level is below the trigger buffer. The notes were priced at 100% of face, with a 2% underwriting discount (including up to a 0.65% structuring fee), and are dated original issue date May 20, 2026 with stated maturity May 11, 2029

GS Finance Corp. offers $1,900,000 aggregate face amount of non‑interest‑bearing notes linked to the iShares MSCI EAFE ETF (EFA) and the VanEck Gold Miners ETF (GDX). The notes mature on November 20, 2029 and may be automatically called beginning on May 17, 2027 if both underliers close at or above their initial levels.

Payments: if both final levels are ≥ 80% of initial levels, the maturity payout per $1,000 face is $1,647.514; if any final level is 70% of initial, the cash settlement equals $1,000 plus the lesser performing underlier return times $1,000. The estimated value on the trade date was approximately $943 per $1,000 face amount.

GS Finance Corp. is offering $3,266,000 aggregate face amount of $10 Trigger Autocallable GEARS linked to the DAX® (Price EUR) Index due 2031, guaranteed by The Goldman Sachs Group, Inc. The trade date is May 15, 2026 and the stated maturity date is May 20, 2031.

The securities pay no coupons, may be automatically called on the call observation date (May 24, 2027) if the index closes at or above the autocall barrier (100% of the initial index level), and would pay a capped call return of 16.00% on the call payment date. If not called, upside exposure at maturity is multiplied by an upside gearing of 1.645; the downside threshold is 75.00% of the initial index level. The estimated value on the trade date is approximately $9.55 per $10 face amount; the original issue price is 100.00% of face amount with an underwriting discount of 2.50%.