Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers structured, medium-term notes guaranteed by The Goldman Sachs Group, Inc., with an $8,218,000 aggregate face amount. The notes pay a contingent monthly coupon of $7.084 per $1,000 (0.7084% monthly, up to approximately 8.5% per annum) when each underlier meets a 70% coupon trigger. They can be automatically called early if all underliers meet their initial levels on any call observation date. At maturity (stated maturity May 22, 2031), cash settlement is determined solely by the lesser performing underlier; if that underlier finishes below 70% of its initial level the investor can suffer principal loss up to and including a complete loss. The notes are subject to issuer and guarantor credit risk, limited secondary-market liquidity, and tax uncertainties described in the supplement.

GS Finance Corp. prices auto-callable principal-at-risk notes guaranteed by The Goldman Sachs Group, Inc., tied to the Russell 2000® Index. The offering comprises an aggregate stated principal amount of $9,508,000 with an original issue price equal to stated principal and an estimated value of approximately $965 per $1,000. The notes may be automatically called on the call observation date; if called, holders receive $1,142 per $1,000 (a 14.2% payment). If not called, maturity payoffs depend on final index performance: a leveraged upside payment equal to 125.00% of any positive index return, return of principal if the final index value is ≥ 80.00% of the initial index value, or a prorated loss if below that threshold. Key dates: pricing date May 15, 2026, original issue date May 20, 2026, call observation date May 24, 2027, valuation date May 31, 2028, stated maturity date June 5, 2028. These securities are unsecured obligations 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 structured, non‑interest bearing notes linked to the Nasdaq‑100 Index. Each $1,000 face amount participates at 125% on upside, includes a 15% buffer (buffer level 85%), and may be automatically called on the call observation date for a cash payment of $1,082.50 per $1,000 if the underlier is at or above the initial level.

The notes mature in May 2028 if not called. Principal at maturity depends on the final index level and could result in a substantial loss, including loss of any premium paid. The notes are unsecured senior obligations of GS Finance Corp., guaranteed by Goldman Sachs, and bear issuer credit risk.

GS Finance Corp. offers indexed, auto-callable notes linked to Iron Mountain Incorporated common stock. The offering consists of $477,000 aggregate face amount on the original issue date with $1,000 principal units. Coupons of $12.375 per $1,000 are payable on a coupon payment date only if the index stock closing price on the related coupon observation date is at least 70% of the initial index stock price of $125.07. The notes will be automatically called on a call payment date if the closing price on any call observation date is greater than or equal to the initial index stock price; otherwise the cash settlement at maturity depends on the final index stock return measured on the determination date (June 15, 2027). The estimated value on the trade date is approximately $983 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and guarantor credit risk, limited anti-dilution protection, market-disruption discretion by the calculation agent and potential loss of principal if the final index stock price is below the 70% trigger buffer.

The pricing supplement describes medium‑term, S&P 500®‑linked notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. The notes have a trade date of May 15, 2026, an original issue date of May 20, 2026, and a stated maturity date of November 20, 2031. For each $1,000 face amount, the cash settlement at maturity equals $1,000 plus the underlier return if the final S&P 500® level exceeds the initial level, subject to a maximum settlement amount of $1,520. If the final level is equal to or below the initial level (initial level: 7,408.50), holders receive the face amount. The notes pay no periodic interest. The original issue price is 100% of face amount; underwriting discount is 2% and net proceeds to issuer are 98%. The supplement discloses a comparable yield for U.S. tax accruals of 4.995% and a projected payment at maturity of $1,317.06 per $1,000 for tax‑accrual purposes.

The notes are subject to issuer and guarantor credit risk, capped upside, potential illiquidity, secondary‑market commissions, complex tax rules for contingent payment debt instruments, and possible withholding under certain non‑U.S. tax rules. The offering is conducted by Goldman Sachs & Co. LLC, which has distribution conflicts and may act as market‑maker but is not obligated to provide liquidity.

GS Finance Corp. offers principal-at-risk notes linked to an unequally-weighted basket of 10 common stocks/ADSs with a stated maturity of June 17, 2027. The notes pay no interest; returns depend on the basket return measured from the trade date May 15, 2026 to the determination date June 15, 2027. Key terms: $1,000 face amount per note, aggregate face amount $2,250,000, upside participation 150%, cap level 130.56% (maximum settlement $1,458.40 per $1,000), buffer level 90% (buffer rate ~111.11%), estimated value at pricing ~$972 per $1,000, underwriting discount 1.02%, net proceeds 98.98%. The notes are unsecured obligations of the issuer, guaranteed by The Goldman Sachs Group, Inc., and subject to credit risk, calculation-agent discretion, market-disruption rules and anti-dilution adjustments.

The issuer GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering market-linked, auto-callable medium-term notes due May 20, 2031 with a face amount of $1,000 per note. Each note pays a monthly contingent coupon of $10.417 per note (approximately 12.50% per annum) only when the lowest performing underlying stock on a calculation day is at or above its coupon threshold (70% of its starting price). The notes auto-call early if the lowest performing underlying stock is at or above its starting price on any monthly call date from May 2027 through April 2031, in which case holders receive the face amount plus a final contingent coupon. If not called, holders receive the face amount at maturity and do not participate in any upside or dividends of the underlying stocks. The underlyings and their starting prices (pricing date May 15, 2026) are: Palantir (Class A) $133.99, NVIDIA $225.32, Dell (Class C) $241.99, and Micron $724.66. The original offering price is $1,000 per note; the pricing models estimated value at issuance is approximately $937 per $1,000 face amount. The underwriting discount is $33.25 per note (3.325%), and proceeds to issuer per note are $966.75. All 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 S&P 500®-linked, principal-at-risk notes with an aggregate face amount of $11,430,000. The notes pay no interest, may be automatically called on the call observation date if the underlier closes at or above the initial level, and otherwise pay a cash settlement at maturity tied to the S&P 500 closing level with a 200% upside participation and a 10% downside buffer (buffer level 90%). The initial underlier level is 7,408.50. The original issue price is 100% of face amount; underwriting discount is 1.5%, net proceeds 98.5% of face.

GS Finance Corp. prices $3,365,000 of Auto-Callable Trigger PLUS notes guaranteed by The Goldman Sachs Group, Inc. The May 15, 2026 pricing sets an original issue price of 100% of principal with an aggregate stated principal amount of $3,365,000 and a stated maturity of May 20, 2031.

The securities pay a fixed $1,113.00 per $1,000 if the S&P 500® Index is at or above the initial index value on the call observation date (call payment date May 27, 2027). If not called, holders may receive at maturity either principal plus a leveraged upside (leverage factor 140.00%), full principal, or a reduced payment tied 1:1 to the index performance if the final index value is below the downside threshold (5,556.375, 75% of the initial index value). The estimated model value at pricing was approximately $977 per $1,000 principal.

The pricing supplement describes GS Finance Corp. offering structured, non‑interest bearing notes linked to the S&P 500® Index with an aggregate face amount of $2,750,000. Payment at maturity depends on the underlier return measured from the trade date to the determination date, subject to a 15% buffer, an 85% buffer level and a maximum upside settlement of $1,180 per $1,000 face amount. If the final underlier level declines by no more than the buffer amount, investors receive the absolute underlier return; if it declines beyond the buffer level, investors suffer proportional losses and could lose a substantial portion of principal. Trade date is May 15, 2026, original issue date May 20, 2026, determination date May 15, 2028 and stated maturity date May 18, 2028. The notes are senior debt of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and carry issuer and guarantor credit risk.

GS Finance Corp. offers capped, non‑interest medium‑term notes linked to Vistra Corp. common stock. The notes have an aggregate face amount of $1,441,000 (original issue price 100% of face) and pay a cash settlement at maturity based on Vistra’s closing price from the trade date May 15, 2026 to the determination date November 15, 2027. For each $1,000 face amount, holders receive $1,300 if the final index stock price is ≥ 63.5% of the initial index stock price ($139.68); if the final index stock price is below that threshold, the payout equals $1,000 plus $1,000 times the index stock return (which can result in a total loss).

The estimated value on the trade date was approximately $963 per $1,000 face amount. The notes do not pay interest, are unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc.; investors remain exposed to issuer/guarantor credit risk. Issue fees include an underwriting discount of 2.35%, leaving net proceeds of 97.65% of face.

The offering prices medium-term notes linked to the S&P 500 Index. The issuer/guarantor are GS Finance Corp. and The Goldman Sachs Group, Inc. in a primary sale with an aggregate face amount of $10,996,000. For each $1,000 face amount the notes pay no interest and settle in cash at maturity based on the underlier return from the trade date to the determination date. The notes provide 200% upside participation capped at a maximum settlement amount of $1,126 per $1,000. A 10% buffer protects against an underlier decline up to 90% of the initial level; losses below the buffer produce a proportional principal loss. Trade date is May 15, 2026, original issue date May 20, 2026, and stated maturity May 20, 2027 (determination date May 17, 2027), subject to adjustment as described in the general terms supplement.

GS Finance Corp. offers contingent monthly coupon notes (aggregate face amount $720,000) guaranteed by The Goldman Sachs Group, Inc. The notes reference the State Street Health Care Select Sector SPDR ETF (XLV) with an initial underlier level of $146.63 (as of May 14, 2026).

Each $1,000 note pays a contingent monthly coupon of $6.709 (0.6709% monthly, up to approximately 8.05% per annum) when the underlier meets the coupon trigger (80% of the initial level). The notes can be automatically called on scheduled call observation dates if the underlier is at or above the initial level, in which case holders receive $1,000 plus any coupon due. If not called, the cash settlement at maturity (May 18, 2028) equals $1,000 if the final underlier level is at or above the 80% trigger buffer; if below, the cash payment equals $1,000 multiplied by the underlier return, meaning investors could lose their entire investment.

GS Finance Corp. offers market-linked notes tied to NVIDIA Corporation stock, guaranteed by The Goldman Sachs Group, Inc. The offering is an $890,000 aggregate face amount of principal-at-risk, non-interest bearing notes with an automatic call feature and a maturity tied to the underlier's closing level on the determination date.

The notes pay no interest, have an upside participation rate of 150%, a trigger buffer at 70% of the initial underlier level ($225.32), and a capped call payment of $1,247.50 per $1,000 if called. Pricing reflects an original issue price of 100% of face with an underwriting discount of 2% (plus a structuring fee up to 0.65%). Key dates: trade date May 15, 2026, original issue date May 20, 2026, call observation May 17, 2027, call payment May 20, 2027, determination date May 15, 2029, stated maturity May 18, 2029.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk, non-interest-bearing notes linked to an equally weighted basket of five stocks (AMD, Alphabet Class C, Broadcom, Intel, NVIDIA). The notes mature on May 18, 2028 with a determination date of May 15, 2028. Each $1,000 face amount pays a cash settlement based on the basket return, subject to a cap level of 132% (maximum settlement amount $1,320) and a trigger buffer level of 60%. If the final basket level declines by up to 40% (to 60% or above), the return equals the absolute basket return; if it declines more than 40%, the holder suffers the negative basket return and can lose substantially or all of principal. The estimated value on the trade date is approximately $914 per $1,000. Original issue price is 100% of face amount; underwriting discount is 2% plus a structuring fee up to 0.45%. Holders have no shareholder rights in the basket stocks and payments are subject to issuer and guarantor credit risk.

GS Finance Corp. priced an equity-linked, auto-callable medium-term note (Series F) guaranteed by The Goldman Sachs Group, Inc. The offering totals $4,395,000 aggregate face amount at an original offering price of $1,000 per security with an estimated value at pricing of $942 per $1,000 face amount. Each security pays a $20.834 contingent coupon per $1,000 (approximately 25% per annum) on monthly calculation days if the underlying stock closing price is >= the coupon threshold (60% of the starting price). The starting price is $482.02; the downside threshold is 40% of the starting price. If not auto-called and the final stock closing price is below the downside threshold, holders will suffer principal loss pro rata to the performance factor; if auto-called earlier when the stock closing price on a call date is >= the starting price, holders receive face amount plus final contingent coupon and any unpaid coupons. All payments are subject to issuer/guarantor credit risk.

The offering prices $40,242,000 aggregate of Trigger Jump Securities issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The securities reference the common stock of Oracle Corporation and mature on December 3, 2027 (valuation date November 30, 2027). For each $1,000 principal, investors receive $600 (a 60.00% upside payment) at maturity if the final share price is greater than or equal to the initial share price of $192.95. If the final share price is between the initial price and the downside threshold of $135.065 (70.00% of the initial price), investors receive $1,000. If the final share price is below the downside threshold, the payment equals $1,000 multiplied by (final share price / initial share price), exposing investors to a 1:1 loss of principal and possible total loss. The original issue price is 100% with a 2.50% underwriting discount.

GS Finance Corp. offers non‑interest bearing, equity‑linked notes tied to an equally weighted 6‑stock basket with an aggregate original face amount of $5,920,000. The notes mature on May 18, 2028 but will be automatically called on the May 28, 2027 if the basket closing level is greater than or equal to the initial basket level, in which case each $1,000 face amount pays $1,201.50 on the call payment date. At maturity the cash payment per $1,000 depends on the basket return (125% upside participation if positive; full principal preserved if final level is ≥85% of initial; a reduced payment using a buffer rate of approximately 117.65% if final level is below 85%). The prospectus supplement discloses an estimated value of approximately $951 per $1,000 face amount on the trade date and an original issue price of 100% with an underwriting discount of 1.5%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) priced $18,026,000 of Contingent Income Auto-Callable Securities linked to the common stock of Microsoft Corporation. The notes mature on May 18, 2029 and pay contingent quarterly coupons only if observed closing prices meet a $295.344 downside threshold (70.00% of the initial share price). If not called and the final share price is below that threshold, principal is reduced pro rata by the share performance factor; if called earlier, holders receive $1,000 plus the contingent coupon then due. The initial share price is $421.92, the estimated value per security at pricing was approximately $969, and the original issue price was $1,000 per security.

The issuer, GS Finance Corp., with a guaranty from The Goldman Sachs Group, Inc., is offering structured medium-term notes linked to the lesser performing of two underliers: the EURO STOXX 50® Index and the iShares® MSCI Emerging Markets ETF (EEM). The notes have a 245% upside participation rate, a 70% trigger buffer, an original issue aggregate face amount of $650,000, a trade date of May 15, 2026, an original issue date of May 20, 2026 and a stated maturity date of May 20, 2031.

At maturity the cash payment per $1,000 face amount depends on the lesser performing underlier: a positive payment equals $1,000 plus the upside participation rate times the lesser performing underlier return; if each underlier finishes at or above its 70% trigger buffer but not positive, you receive $1,000; if any underlier finishes below the 70% trigger buffer you absorb losses pro rata and could lose your entire investment. The notes pay no interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering Trigger Autocallable Contingent Yield Notes due 2029, unsecured and fully guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the lesser performing of the Nasdaq-100 Index® and the Dow Jones Industrial Average®. Quarterly contingent coupons (set on the trade date) are payable only if both indices meet coupon barriers. The contingent coupon range shown is $0.27 to $0.2825 per $10 face amount per quarter (up to 10.80%–11.30% per annum). The notes feature an automatic call commencing in November 2026 if both indices close at or above their initial levels; stated maturity is May 24, 2029. The downside threshold (and coupon barrier) for each index is 70.00% of its initial level, and investors may lose some or all principal if the lesser performing index closes below that level at maturity. The estimated value at pricing is between $9.80 and $9.99 per $10 face amount. All payments are subject to the issuer's and guarantor's creditworthiness.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes linked to the shares of Alphabet, NVIDIA, Meta and Tesla that mature on May 22, 2031. Each note has a $1,000 face amount and pays a monthly coupon that is either a maximum of $8.334 per $1,000 (0.8334% monthly, ~10% per annum) if every index stock is at or above 80% of its initial price on a coupon observation date, or a minimum of $0.209 per $1,000 (0.0209% monthly, ~0.25% per annum) otherwise.

The notes are subject to an automatic call on call observation dates if each index stock is at least 95% of its initial price; called notes pay the face amount plus the coupon on the call payment date. The trade date was May 15, 2026 and the original issue date is May 20, 2026. The prospectus discloses an aggregate face amount of $19,055,000 on original issue and an estimated value at pricing of approximately $947 per $1,000 face amount. Investors remain exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering callable S&P 500® Futures Excess Return Index‑linked notes due May 20, 2031 guaranteed by The Goldman Sachs Group, Inc. The notes have a face amount of $1,000 per note and aggregate initial face amount of $2,531,000. The notes do not pay interest and may be redeemed at issuer option on specified monthly call payment dates beginning May 20, 2027. If not redeemed, payment at maturity depends on the final underlier level versus an initial underlier level of 596.49. If final > initial, holders receive $1,000 plus 2.05× the index return; if final ≤ initial but ≥ 60% of initial, holders receive $1,000; if final < 60% of initial, holders receive $1,000 plus the underlier return times $1,000 (which can result in total loss). The estimated value on the trade date is approximately $933 per $1,000 face amount; original issue price is 100% with an underwriting discount of 4.125%.

GS Finance Corp. offers $2,045,000 in structured medium‑term notes guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $9.584 per $1,000 face ($0.9584% monthly, up to ~11.50% per annum) when each underlier is at or above its coupon trigger (70% of its initial level) on observation dates and are subject to an automatic call if all underliers are at or above initial levels on any call observation date. If not called, final cash settlement at the May 18, 2029 maturity depends on the performance of the lesser performing underlier: investors receive $1,000 if that underlier is at or above the 70% trigger buffer, but could lose up to 100% of principal if the lesser performing underlier falls to 0% of its initial level. Key underliers are the Nasdaq‑100, Russell 2000 and S&P 500. Pricing shows original issue price at 100% of face amount with an underwriting discount of 0.75% (net proceeds 99.25%).

GS Finance Corp. priced a non‑interest bearing structured note issuance linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The trade date is May 15, 2026, original issue date May 20, 2026, stated maturity May 22, 2031, and the initial underlier level is 508.61.

The offering shows an aggregate face amount of $929,000 on the original issue date; original issue price is 100% of face amount with an underwriting discount of 0.81%. Notes are automatically callable on specified observation dates beginning November 16, 2026, with call premiums rising through the schedule and a maximum settlement amount of $2,500 per $1,000 face amount at maturity if not called. The underlier applies a daily 6.0% per annum decrement and may employ up to 500% leverage; estimated value at pricing was approximately $958 per $1,000 face amount.

The offered notes are senior, non‑interest bearing, cash‑settled notes issued by GS Finance Corp. and unconditionally guaranteed by The Goldman Sachs Group, Inc. Payout at the stated maturity is linked to the EURO STOXX 50® Index and depends on the index return from the trade date to the determination date.

The terms: $1,108,000 aggregate face amount; $1,000 face per note; 157% upside participation; a 40% trigger buffer (trigger buffer level = 60% of the initial level); initial underlier level 5,827.76; stated maturity May 20, 2031. If the final index level is >= initial, you receive $1,000 plus participation times the index gain; if the final level is below initial but not below the trigger buffer level you receive $1,000 plus the absolute index decline; if final level is below the trigger buffer level you suffer a loss equal to the index decline applied to face amount.

GS Finance Corp. is offering callable, equity‑linked notes tied to the Class A common stock of Charter Communications, Inc. The notes pay a quarterly coupon of $45 per $1,000 face amount (4.5% quarterly, up to 18% per annum) if the index stock's closing price on a coupon observation date is at least 50% of the initial index stock price. The trade date is expected to be May 28, 2026, the original issue date expected to be June 2, 2026, and the stated maturity is expected to be June 1, 2029. The notes are automatically called if, on any call observation date, the index stock closing price is greater than or equal to the initial index stock price. At maturity, if the final index stock price is below 50% of the initial index stock price, principal is reduced proportionally by the index stock return. The estimated value on the trade date is stated as between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering fixed‑term, cash‑settled notes (guaranteed by The Goldman Sachs Group, Inc.) with an aggregate face amount of $2,885,000. The notes reference the S&P 500® Index and may be automatically called on the call observation date if the closing level is greater than or equal to the initial level; in that case each $1,000 face amount would pay $1,104 on the call payment date.

If not called, the cash settlement at the stated maturity depends on the final underlier level: upside participation of 200% when the final level exceeds the initial level, a principal return at or above the buffer level of 85%, or a downside exposure calculated using a 15% buffer and a 100% buffer rate. The notes do not bear interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. offers market-linked notes with an aggregate face amount of $1,002,000 that mature on May 18, 2029 unless automatically called beginning with the May 24, 2027 call observation date. The notes are linked to three State Street sector ETFs (XLF, XLI, XLE) with initial levels of $51.10, $171.40 and $59.44, respectively, and a 70% trigger buffer. If not called, the maturity payout per $1,000 face amount is based on the lesser performing ETF: up to $1,607.50 if all underliers finish at or above initial levels (maturity premium 60.75%), $1,000 if all finish at or above 70% of initial levels but below initial levels, or a proportionate loss if the lesser performing ETF is below 70% (you may lose most or all principal). The notes do not pay interest; estimated value on the trade date was approximately $971 per $1,000. Payments depend on the creditworthiness of GS Finance Corp. and guarantor The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured notes linked to the common stock of Intuit Inc. The notes have a $1,000 face amount per note, an expected trade date of May 27, 2026, and an expected original issue date of June 1, 2026. The notes mature on December 1, 2027 unless earlier redeemed. Coupons of $12.50 per $1,000 (1.25% monthly, up to 15% per annum) are payable on each monthly coupon payment date only if the index stock closing price on the related coupon observation date is at or above 50% of the initial index stock price. At maturity holders receive either $1,000 (if final index stock price >= 50% of initial) plus any final coupon, or, if the final index stock price < 50% of initial, a pro rata cash settlement that can result in substantial loss (example: if final = 25% of initial, cash settlement = 25% of face). The company may redeem the notes at par plus any coupon on coupon dates from December 2026 through November 2027. The estimated value on the trade date is between $925 and $965 per $1,000 face amount.

GS Finance Corp. is offering index-linked notes due May 18, 2028 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and will settle in cash at maturity based on the lesser performing of the Russell 2000® and the S&P 500® measured from the trade date (May 15, 2026) to the determination date (May 15, 2028), subject to the calculation agent's adjustments.

Key commercial terms: aggregate face amount $998,000, original issue price 100%, estimated value at issuance ~$984 per $1,000 face, maximum settlement $1,277.50 per $1,000, and minimum settlement $950 per $1,000. The principal payable at maturity equals either the capped upside tied to the lesser performing underlier return or, if negative, the greater of the $950 minimum or the $1,000 adjusted by that lesser performing underlier return.

GS Finance Corp. is offering structured notes linked to The Trade Desk, Inc. Class A common stock that mature on May 22, 2029 unless automatically called earlier. The notes reference an initial index stock price of $21.15 and a trigger/coupon threshold equal to 50% of that price. Coupons accrue quarterly at $62.50 per $1,000 face amount (6.25% quarterly, up to 25% per annum) only when observation-date closing prices meet or exceed the coupon trigger price. If a call observation date closing price is at or above the initial index stock price, the notes will be automatically called and holders receive face amount plus accrued coupon. At maturity, if the final index stock price is below 50% of the initial index stock price, holders receive a declining cash settlement equal to $1,000 multiplied by (1 + index stock return), which can result in a loss of more than half of principal. The estimated value at pricing was approximately $975 per $1,000 face amount.

GS Finance Corp. offers principal-protected-style callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes do not pay interest, may be automatically called beginning February 16, 2027 if the underlier is ≥85% of the initial level, and mature on May 22, 2031. If not called, maturity payments depend on the index level on the determination date (May 15, 2031), with a capped maximum settlement of $1,915 per $1,000 face amount and a trigger buffer at 60% of the initial underlier level. The pricing supplement states an estimated value of approximately $956 per $1,000 face amount at issuance and an original issue price of 100% of face amount.

GS Finance Corp. offers Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes link to the lesser performing of the Nasdaq-100 and the Dow Jones Industrial Average, pay quarterly contingent coupons (per $10 face amount) only if both indices meet coupon barriers, and may be automatically called beginning on November 20, 2026. Trade date is expected to be May 20, 2026 and stated maturity is May 24, 2029. Principal repayment at maturity is contingent on each index staying at or above a 70.00% downside threshold; if the lesser performing index is below that threshold at maturity, holders can lose a significant portion or all of their investment.

GS Finance Corp. is offering autocallable S&P 500® Index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on the call observation date for a $1,100 cash payment per $1,000 face if the underlier is at or above its initial level, and otherwise deliver a cash settlement at maturity tied to S&P 500 performance with an upside participation rate of at least 190% and a 10% downside buffer (buffer level = 90% of initial level). The trade date is May 22, 2026, original issue date May 28, 2026, determination date May 22, 2028, and stated maturity May 25, 2028. The offering price is 100% of face amount with a 1.5% underwriting discount (net proceeds 98.5%). The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., have uncertain U.S. tax treatment, and investors could lose their entire investment if the final underlier level is below the buffer level.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk, contingent monthly coupon notes linked to the Class A common stock of Meta Platforms, Inc. The offering has an aggregate face amount of $4,857,000 and an original issue price of 100% of face amount. Coupons of $11.875 per $1,000 (1.1875% monthly; potential up to 14.25% per annum) are paid only when the underlier closes at or above a coupon trigger level equal to 68% of the initial underlier level on each coupon observation date. The notes will be automatically called if the underlier closes at or above the initial underlier level on any call observation date. If not called, repayment at maturity is cash and depends on the final underlier level; losses can be total if the final underlier level is below the trigger buffer level (also 68% of the initial underlier level).

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes linked to the common stock of NVIDIA Corporation (Bloomberg: "NVDA UW"). The notes have a $1,000 face amount per note, trade date June 2, 2026, original issue date June 5, 2026, and stated maturity July 8, 2027. Monthly contingent coupons pay only if the underlier closes at or above a coupon trigger of 60% of the initial level; each coupon accrues at a reference increment of $10.334 per coupon observation count. 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 settlement per $1,000 is capped at 100% of face amount or decreases pro rata with the underlier; a final underlier level below the 60% trigger buffer may cause substantial loss, including total loss of invested principal.

GS Finance Corp. offers structured, non‑interest bearing notes linked to Vistra Corp. common stock. Each note has a $1,000 face amount and a capped payoff: if Vistra’s closing price on the determination date is ≥61.25% of the initial price ($139.68), holders receive $1,300 per $1,000 face amount; otherwise the cash payment falls pro rata and can result in a total loss of principal. The trade date is May 15, 2026, original issue date is May 20, 2026, and the stated maturity date is November 18, 2027. The prospectus reports an estimated value of approximately $974 per $1,000 face amount on the trade date and an original issue price of 100% (underwriting discount 2.225%).

GS Finance Corp. is offering structured medium-term notes, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $3,001,000. The notes are linked to the EURO STOXX 50® Index and carry no interest.

Key economic terms include an upside participation rate of 150%, a trigger buffer level of 80% of the initial index level (5,827.76), an automatic-call payment of $1,195 per $1,000 if the index on the call observation date meets or exceeds the initial level, and a final cash settlement tied to the index return if not called. Trade date is May 15, 2026, original issue date May 20, 2026, call observation date May 17, 2027, and stated maturity May 11, 2029.

The pricing supplement describes GS Finance Corp. autocallable contingent coupon equity-linked notes linked to Marvell Technology, Inc. stock (ticker "MRVL UW"). For each $1,000 face amount the notes pay contingent quarterly coupons (each coupon component based on $81 increments) and may be automatically called if the underlier closes at or above the initial level on any call observation date. If not called, maturity cash depends on the final underlier level relative to a 65% buffer; investors may lose the entire investment if the final level is sufficiently low. Trade date is May 22, 2026, original issue date May 28, 2026, and stated maturity June 10, 2027. The notes are senior unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc. Original issue price equals 100% of face amount with a 1% underwriting discount.

GS Finance Corp. is offering $8,849,000 aggregate face amount of callable, CrowdStrike (CRWD)-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay contingent quarterly coupons of up to $54.25 per $1,000 face amount and can be automatically called; final principal at maturity depends on the underlier's performance versus a 75% buffer level.

The notes carry credit risk of GS Finance Corp. and Goldman Sachs, an underwriting discount of 1% of face, and an original issue price equal to 100% of face.

GS Finance Corp. offers equity-linked notes linked to the common stock of Vistra Corp. The notes (trade date expected May 22, 2026, stated maturity expected June 10, 2027) pay discretionary quarterly coupons only if the index stock closes at or above 70% of an initial index stock price on observation dates. The notes are automatically called if the index stock closes at or above the initial index stock price on any call observation date; otherwise the maturity payoff depends on the index stock return with a 30% downside buffer (buffer rate ~142.86%). Estimated value at term-setting is between $900 and $930 per $1,000 face amount. Payments are unsecured obligations of GS Finance Corp. and subject to credit risk of the issuer and guarantor.

GS Finance Corp. is offering principal-protected‑style structured notes linked to an equally weighted 7‑stock basket with an aggregate face amount of $318,000 on the original issue date. The notes do not bear interest, have an original issue price of 100% of face amount, a trade date of May 15, 2026, an original issue date of May 20, 2026, a call observation date of May 17, 2027 (automatic call if basket closing level ≥ initial level), and a stated maturity of May 18, 2029.

If automatically called, each $1,000 face amount pays $1,147.50 on the call payment date. If not called, the cash settlement at maturity depends on the basket return: a positive basket return receives participation at 125%; modest negative returns (down to -20%) produce a payment equal to the absolute basket return; declines beyond -20% produce a loss prorated to the basket return (potentially less than 80% of face). The estimated value on the trade date was approximately $960 per $1,000.

GS Finance Corp. is offering non‑interest notes guaranteed by The Goldman Sachs Group, Inc. The initial aggregate face amount is $116,000 on the original issue date. The notes mature on May 18, 2029 with an automatic call feature on May 17, 2027 that would pay $1,110 per $1,000 face amount if the basket closing level is greater than or equal to the initial basket level.

The payoff is linked to an equally weighted basket of seven common stocks with an initial basket level of 100, an upside participation rate of 125% and a trigger buffer level of 80%. The estimated value at trade date is approximately $940 per $1,000 face amount. Original issue price is 100% of face amount; underwriting discount totals 2% plus a structuring fee of up to 0.65%. The notes are subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. priced indexed, non-interest-bearing notes linked to the S&P 500® Index. The offering aggregates $2,422,000 of face amount with a trade date of May 15, 2026, original issue date May 20, 2026 and stated maturity November 20, 2030. Each $1,000 face-amount note pays at maturity either the face amount or $1,000 × the underlier return subject to a maximum settlement amount of $1,457 per $1,000. The notes pay no interest, are senior unsecured obligations of GS Finance Corp. and are unconditionally guaranteed by The Goldman Sachs Group, Inc. The pricing supplement discloses a comparable yield of 4.89% and a projected maturity payment of $1,246.97 per $1,000 for tax accrual purposes.

GS Finance Corp. is offering principal-protected structured notes linked to the Class A common stock of Robinhood Markets, Inc. (initial index stock price $77.14). The notes mature on May 18, 2029 unless automatically called on specified observation dates beginning in May 2027. If a call redemption occurs, each $1,000 face amount pays $1,000 plus a call premium (specified for May 2027 and May 2028). If not called, the maturity payment depends on the final index stock price on the determination date (May 15, 2029) and is capped at a stated maximum settlement amount ($1,756 per $1,000). The notes do not bear interest, are unsecured obligations of GS Finance Corp., are guaranteed by The Goldman Sachs Group, Inc., and carry credit risk of both entities. The estimated value at pricing was approximately $963 per $1,000 face amount; original issue price is 100% (underwriting discount 2.5%).

GS Finance Corp. priced market-linked notes backed by Goldman Sachs that pay contingent monthly coupons and return principal at maturity only if conditions tied to two ETFs are met. The notes reference the Global X Uranium ETF and Global X Copper Miners ETF, mature May 21, 2029, and may be redeemed early by the issuer on monthly coupon dates.

Coupons of $14 per $1,000 are paid on a coupon date only if each ETF’s closing level on the related observation date is at least 60% of its initial level. At maturity the cash payment depends on the lesser-performing ETF and may result in significant principal loss, including losing most or all of principal if that ETF falls below 50% of its initial level.

The Pricing Supplement dated May 15, 2026 describes an offering of Auto-Callable Dual Directional Trigger PLUS notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., with an aggregate principal amount of $4,488,000. Each security has a stated principal amount of $1,000 and may be automatically called on the call observation date for a fixed call payment of $1,225.00 per $1,000 if the basket closing value is greater than or equal to the initial basket value. If not called, maturity payoff depends on the final basket value: a leveraged upside (leverage factor 125.00%) for positive basket performance, an absolute (positive) return for moderate declines down to the 80.00% downside threshold, or a pro rata loss if the final basket value is below the downside threshold. The pricing date was May 15, 2026, original issue date May 20, 2026, call observation date May 24, 2027, and stated maturity date June 5, 2028. The estimated value at pricing was approximately $922 per $1,000 principal amount; the original issue price is 100.00% of principal.

GS Finance Corp. offers callable notes linked to AppLovin Corporation Class A common stock (the "index stock"). Each note has a $1,000 face amount and a $65.00 quarterly coupon payable if the index stock closes at or above 50% of the initial index stock price on an observation date. The notes mature on the stated maturity date (expected to be June 1, 2029) unless automatically called on observation dates starting in August 2026. At maturity, if the final index stock price is below 50% of the initial index stock price, the cash settlement amount is reduced pro rata by the index stock return and could be less than 50% of face amount. The estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount. The original issue price is 100% with an underwriting discount of 2% and net proceeds to the issuer of 98% of face amount.