Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. priced leveraged basket-linked notes due May 15, 2030, guaranteed by The Goldman Sachs Group, Inc. These non-interest-bearing notes reference a weighted basket of five international indices with an upside participation rate of 172.5%. The initial basket level is 100; final payoff depends solely on the basket return measured from the trade date May 13, 2026 to the determination date May 13, 2030. For each $1,000 face amount, holders receive $1,000 plus a leveraged positive participation if the final basket level exceeds 100, or $1,000 multiplied by the basket return if the final level is equal or lower. The aggregate original face amount is $2,060,000, original issue price 100%, estimated model value approximately $951 per $1,000, underwriting discount 3.2% and net proceeds to issuer 96.8%. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes are cash-settled at maturity.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due May 17, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Russell 2000, S&P 500 and Nasdaq-100 indices and may be automatically called on observation end dates beginning in August 2026.

Quarterly coupons of $30.875 per $1,000 (3.0875% quarterly; 12.35% annualized) are paid only if each index is at least 70% of its initial level on every trading day during the quarterly observation period. At maturity (if not called), payment is based on the lesser performing index: full principal if that index is >= 60% of its initial level, otherwise a prorated cash settlement based on the index return (loss may exceed 40% of principal). The trade date is May 13, 2026 and original issue date is May 18, 2026. The aggregate face amount on issue is $3,905,000. The estimated value at pricing was approximately $999 per $1,000 face amount; issue price is 100% with an underwriting discount of 0.8%.

GS Finance Corp. is offering autocallable Nasdaq-100 Index®-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and will be automatically called on the call payment date if the closing level of the Nasdaq-100 Index on the call observation date is greater than or equal to the initial level. If called, holders receive $1,150 per $1,000 on the call payment date. If not called, the cash payment at maturity depends on the final underlier level: upside participation is 138%; a 80% trigger buffer protects principal only down to that level; below the trigger buffer the cash settlement equals $1,000 × (1 + underlier return), which can result in a total loss of principal.

The notes pay no interest, are cash-settled, and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. Pricing terms (including the initial underlier level and issue price) will be set on the trade date.

GS Finance Corp. proposes notes linked to a single Ferrari N.V. share with The Goldman Sachs Group, Inc. as guarantor. The notes do not bear interest and have an expected trade date of May 26, 2026, an expected determination date of May 29, 2029, and an expected stated maturity of June 1, 2029.

At maturity each $1,000 face amount pays $1,269 if the final index stock price is greater than or equal to the initial index stock price; otherwise it pays $1,000. The estimated value on the trade date is expected to be between $925 and $965. Payments depend on issuer and guarantor credit.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes maturing on May 20, 2031. Each note’s monthly coupon depends on four reference stocks — Alphabet Class C, NVIDIA, Amazon and Bank of America — with an initial index stock price specified for each. Notes are automatically called if, on any call observation date commencing May 2027, the closing price of each index stock is at or above its initial price; called notes pay principal plus that period’s coupon. Coupons are either a maximum of $7.084 per $1,000 face amount (≈8.5% annualized) if every index stock meets its coupon trigger (80% of initial), or a minimum of $0.209 per $1,000 face amount (≈0.25% annualized). The estimated value at issuance was approximately $948 per $1,000 face amount; original issue price is 100% with a 3.75% underwriting discount.

This prospectus supplement highlights credit exposure to GS Finance Corp. and Goldman Sachs, the calculation agent’s broad discretion over pricing and adjustments, limited anti-dilution protection, potential thin secondary market and hedging/conflicts by Goldman Sachs that may affect index-stock prices. Purchase suitability, market-value sensitivity and tax characterization are described in the supplement.

GS Finance Corp. is offering Trigger Autocallable GEARS linked to an equally weighted basket of 16 stocks, guaranteed by The Goldman Sachs Group, Inc. The instruments are unsecured notes with an initial underlying basket level of 100, an autocall barrier at 100% of the initial level and a call return of 17.00%. Trade date is May 27, 2026 and expected original issue date is May 29, 2026; the call observation date is expected to be June 3, 2027 and the determination date is expected to be May 29, 2029.

If automatically called on the call observation date, each $10 face amount would pay $10 plus $10 times the 17.00% call return. If not called, maturity payoff depends on the final basket level: above 100 the payoff applies upside gearing (expected between 1.30 and 1.52); between 75.00% and 100% you receive $10; below 75.00% you incur losses pro rata to the basket decline. The pricing supplement shows an estimated value of $9.25–$9.55 per $10 face amount on the trade date and an underwriting discount of 2.50%.

GS Finance Corp. offers $1,000 face‑amount autocallable contingent coupon index‑linked notes due May 22, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of 0.9167% per $1,000 (up to ~11.00% per annum) when each underlier meets its coupon trigger (70% of initial). The notes are linked to the Nasdaq-100, Russell 2000 and S&P 500 indices, are callable on observation dates beginning November 19, 2026, and settle at maturity based solely on the lesser performing underlier versus its initial level. If any underlier’s final level is below its trigger buffer (60% of initial), holders can suffer a loss up to the full principal amount. Trade date: May 19, 2026; original issue date: May 22, 2026. The notes are subject to issuer and guarantor credit risk and limited secondary‑market liquidity (CUSIP US40054RGY18).

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2031. The notes pay interest at 4.10% per annum from and including the original issue date (expected May 20, 2026) to but excluding the stated maturity date (expected May 20, 2031). Interest is payable semiannually on expected payment dates of May 20 and November 20, with the first payment expected on November 20, 2026.

The notes are callable at the issuer’s option in whole, not in part, on each redemption date expected on May 20 on or after May 20, 2029, at a redemption price equal to 100% of principal plus accrued interest. The offering will settle through DTC in book‑entry form and is subject to FATCA withholding rules.

GS Finance Corp. offers principal‑protected‑style, equity‑linked medium‑term notes tied to the MSCI EAFE Index. Each note has a $1,000 face amount and pays no periodic interest; final payment at maturity depends on the index return and a 125% upside participation rate with a 50% trigger buffer. The notes are guaranteed by The Goldman Sachs Group, Inc., were issued at 100% of face with a 0.6% underwriting discount, and carry the aggregate face amount shown on the cover.

The notes may repay the face amount if the final index level stays at or above the 50% trigger buffer, provide enhanced upside if the index rises, and expose investors to full principal loss if the index declines below the trigger buffer. The tax, market‑liquidity and issuer/guarantor credit risks described in the supplement apply.

GS Finance Corp. offers market-linked notes tied to NVIDIA Corporation (NVDA). Each note has a $1,000 face amount and pays no interest; payment at maturity depends on the NVDA final closing level on the June 14, 2027 determination date with a stated maturity of June 16, 2027.

If the final underlier level is greater than or equal to a buffer level of 85% of the initial level, holders receive a capped maximum settlement amount of $1,245.70 per $1,000. If the final level is below 85%, the holder suffers losses equal to approximately 1.1765% of face for each 1% decline below the buffer, and could lose the entire investment. The notes are unsecured senior obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., offered in an aggregate face amount of $3,500,000. Original issue price is 100% of face; underwriting discount 0.82%; net proceeds 99.18%.

GS Finance Corp. proposes non‑interest bearing, equity‑linked notes backed by a guarantee of The Goldman Sachs Group, Inc. The notes reference three individual stocks and mature May 28, 2031 unless automatically called on the call observation date August 24, 2026. If called, each $1,000 face amount pays $1,220.002. At maturity, payout depends on the lesser performing index stock: up to 200% participation if all finish above initial prices, full return if all finish at or above 60% of initial prices, and a leveraged loss beyond the 60% buffer that can result in complete loss of principal.

Key structural points: upside participation rate is 200%, buffer price is 60%, buffer rate approximately 166.67%, estimated initial model value is between $885 and $925 per $1,000 face amount, trade date is May 22, 2026. The notes carry issuer and guarantor credit risk and limited anti‑dilution protections; the calculation agent (GS&Co.) has broad discretion affecting prices and adjustments.

GS Finance Corp. offers structured medium-term notes backed by a guarantee from The Goldman Sachs Group, Inc. The offering comprises an aggregate face amount of $3,184,000 of contingent monthly coupon, principal-at-risk notes that mature on May 18, 2029, subject to the issuer's optional redemptions beginning in November 2026.

Each $1,000 note may pay a monthly contingent coupon of $9.375 if every underlier is at or above its coupon trigger (70% of initial level) on the observation date. At maturity the cash settlement for each $1,000 face amount is either $1,000 (if all final underlier levels meet trigger-buffer thresholds) or $1,000 + $1,000 × lesser performing underlier return, exposing holders to the full loss of principal if the lesser performing underlier falls to 0% of its initial level.

GS Finance Corp. is offering $763,000 aggregate face amount of ETF‑linked notes due May 16, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the cash payment at maturity is tied to the lesser performing of Invesco QQQ, Series 1 ("QQQ") and State Street SPDR S&P 500 ETF ("SPY").

If both ETFs finish at or above their initial levels, holders receive $1,000 plus 108.2% participation of the lesser performing ETF return. If either ETF finishes below its initial level but at or above 85% (buffer), holders receive $1,000. If any ETF finishes below 85% of initial, holders suffer a loss equal to the lesser performing ETF return plus 15% times $1,000. The estimated value on the trade date was approximately $954 per $1,000. Original issue price is 100% with an underwriting discount of 4.125% and net proceeds to issuer of 95.875%.

GS Finance Corp. is offering market-linked, contingent quarterly coupon notes guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount, aggregate face amount of $26,524,000, trade date May 13, 2026, original issue date May 18, 2026, and stated maturity May 17, 2029. Coupons of $34.125 per $1,000 (3.4125% quarterly; up to 13.65% annually) are paid only if each underlier on an observation date equals or exceeds 70% of its initial level. Automatic early redemption occurs on a call date if each underlier equals or exceeds its initial level. If not called, the cash settlement at maturity is based solely on the performance of the lesser performing underlier and may result in the loss of up to 100% of principal; trigger/threshold levels are set at 70% of each initial underlier level.

GS Finance Corp. is offering index-linked notes due May 18, 2028 with an aggregate face amount of $1,145,000, guaranteed by The Goldman Sachs Group, Inc. The notes pay at maturity an amount tied to the lesser performing of the Russell 2000® and the S&P 500®, measured from the trade date May 13, 2026 to the determination date May 15, 2028. For each $1,000 face amount, holders receive either (i) up to a capped payment of $1,197.50 if both indexes are positive (cap = 119.75% of initial levels), or (ii) the greater of a minimum of $950 or the $1,000 adjusted by the lesser performing index return. The estimated value at pricing was approximately $968 per $1,000 face amount; original issue price was 100% with a 2.55% underwriting discount. The notes do not bear interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering equity‑linked notes tied to Amazon.com, Inc. stock with an aggregate face amount of $70,000. The notes pay no interest and pay at maturity a cash amount per $1,000 face amount that is either the maximum settlement amount of $1,161.60 if the final underlier level is >= the buffer level (85% of the initial level), or otherwise a formula that applies a buffer rate (~117.65%) to the underlier return and buffer amount, exposing holders to downside (you could lose your entire investment). The trade date is May 13, 2026, original issue date May 18, 2026, determination date June 14, 2027 and stated maturity date June 16, 2027. The notes are part of the Medium‑Term Notes, Series F program and are offered at 100% of face (underwriting discount 0.82%).

GS Finance Corp. is offering indexed, autocallable notes guaranteed by The Goldman Sachs Group, Inc. linked to the S&P 500 Index, the Russell 2000 Index and the State Street Consumer Staples Select Sector SPDR ETF. The notes mature on May 16, 2031 unless automatically called starting in August 2026. Coupons of $9.167 per $1,000 (0.9167% monthly, ~11% annualized) are payable on a coupon payment date only if each underlier’s closing level on the related observation date is at or above 70% of its initial level. If on any call observation date each underlier equals or exceeds its initial level (S&P 500: 7,444.25; Russell 2000: 2,843.932; XLP: $84.72), the notes will be automatically called and investors receive principal plus the coupon on the next payment date. If not called, maturity payoff is based on the performance of the least-performing underlier: if that underlier is below 70% of its initial level at the determination date (May 13, 2031), principal is reduced proportionally and no coupon is paid. The original issue price is 100% of face amount; aggregate original face amount was $747,000. The offering includes an underwriting discount of 0.7% and net proceeds to the issuer of 99.3% of face amount.

GS Finance Corp. is offering principal-protected contingent notes linked to the S&P 500® Futures Volatility Plus Daily Risk Control Index. The notes mature on the stated maturity date, expected to be June 3, 2031, unless automatically called on any monthly call observation date commencing in May 2027 through April 2031. On each coupon payment date a holder receives $7.834 per $1,000 (0.7834% monthly, ~9.4% per annum) if the index closing level on the related coupon observation date is at least 85% of the initial index level; otherwise the coupon is $0. At maturity, if the final index level is below 85% of the initial level, the cash settlement equals $1,000 plus $1,000 × (index return + 15%), which can result in a substantial loss of principal. The estimated value on the trade date is expected to be between $885 and $925 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-protected contingent redemption notes tied to three single stocks. The notes have a $1,000 face amount per note, an 200% upside participation rate, a 60% buffer threshold and an expected stated maturity of May 28, 2031. The notes are callable early if, on the call observation date (expected August 24, 2026), each reference stock closes at or above 75% of its initial price; an automatic call would produce a fixed cash payment of $1,190.002 per $1,000 face amount on the call payment date (expected August 27, 2026). If not called, maturity payment depends solely on the lesser performing index stock: positive payoff equals 2 times the lesser performing return above initial price; if the lesser performing stock finishes below 60% of its initial price the loss accelerates by a buffer rate (~166.67%), potentially causing a total loss of principal. The estimated value at trade date is between $885 and $925 per $1,000 face amount. Terms, anti-dilution adjustments, market-disruption mechanics and issuer/guarantor credit risk are disclosed in the supplement.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc.. Each note has a $1,000 face amount and pays a contingent monthly coupon of $9.625 if each underlier meets a 65% coupon trigger on observation dates; notes may be automatically called if all underliers meet their initial levels on a call observation date.

The notes reference the Nasdaq-100 Technology Sector Index, the Russell 2000® Index and the S&P 500® Index. At maturity, if not called, principal repayment depends on the performance of the lesser performing underlier: if that underlier is below its 65% trigger buffer, repayment equals $1,000 plus the lesser performing underlier return times $1,000, which could result in loss of the entire investment. Trade date is May 18, 2026, original issue date May 21, 2026, and stated maturity May 23, 2029.

GS Finance Corp. is offering $284,000 aggregate face amount of medium-term contingent monthly coupon notes, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference NVIDIA Corporation and Tesla, Inc. and pay monthly contingent coupons if each underlier meets a 70% coupon trigger on observation dates. The notes have a 60% trigger buffer for principal protection tests, an automatic call feature if both underliers close at or above their initial levels on a call observation date, a trade date of May 13, 2026, an original issue date of May 18, 2026, and a stated maturity of May 22, 2028. The cash settlement at maturity (if not called) is based solely on the lesser performing underlier and can result in a total loss of principal.

GS Finance Corp. is offering structured notes with an aggregate face amount of $500,000. The notes reference four index stocks—Advanced Micro Devices, Alphabet Class C, NVIDIA and Tesla—and pay monthly contingent coupons if each index stock meets an 80% coupon trigger on coupon observation dates. The notes carry an automatic call feature beginning May 2027 if each index stock is ≥90% of its initial index stock price on a call observation date; if called, holders receive the face amount plus the accrued coupon. Key economics: trade date May 13, 2026, original issue date May 18, 2026, stated maturity May 20, 2033, coupon pacing $6.375 per observation (0.6375% monthly, up to 7.65% per annum) and an estimated value at term-setting of approximately $931 per $1,000 face amount. The prospectus notes an underwriting discount of 4.125% and net proceeds to issuer of 95.875% of face amount. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.; holders bear issuer/guarantor credit risk, limited anti-dilution protection, and potential illiquidity.

GS Finance Corp. is offering $1,000 face‑amount Leveraged Buffered S&P 500® Index‑Linked Notes due June 21, 2027. The notes reference the S&P 500® Index with an upside participation rate of 150%, a maximum settlement amount of $1,131.50 per $1,000 face amount, and a buffer level of 90% (buffer amount 10%). The initial underlier level is 7,501.24 (closing level on May 14, 2026), the trade date is May 19, 2026, and the original issue date is May 22, 2026. Payment at maturity is cash based on the arithmetic average of the underlier on ten averaging dates in June 2027. The notes do not bear interest and are fully guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. priced leveraged, principal-at-risk medium-term notes due June 1, 2029. These equity index linked securities are linked to the lowest performing of the S&P 500®, TOPIX and the EURO STOXX 50® and provide at least a 258% upside participation rate if that underlier rises.

The securities feature a 20% downside buffer (threshold = 80% of starting level) and a 1.25 multiplier that amplifies losses beyond the buffer; investors may lose up to 100% of face amount. Estimated value at pricing is $900–$930 per $1,000; original offering price is $1,000 with underwriting discount up to $28.25. Pricing date: May 29, 2026; calculation day: May 29, 2029.

GS Finance Corp. is offering Buffered Digital Equity-Linked Notes guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of NVIDIA Corporation (NVDA). Each note has a $1,000 face amount and a capped payoff: a maximum settlement amount expected between $1,223.40 and $1,262.10 per $1,000 face amount. The notes provide protection only above a buffer level equal to 85% of the initial underlier level and apply a buffer rate of approximately 117.65% to losses below that level; investors may lose their entire investment if the final underlier level falls sufficiently below the buffer level. The notes do not pay interest, are cash-settled at maturity based on a determination date expected about 13–15 months after the trade date, and are subject to the issuer’s and guarantor’s credit risk and customary structural, market and tax risks.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes with a principal amount shown of $1,000,000 issued at 100% of principal on an original issue date of May 15, 2026. The notes pay interest at 5.00% per annum semiannually on May 15 and November 15, mature on May 16, 2033, and will be issued in book-entry form as a master global note held through DTC. The underwriting discount is 0.25% of principal, producing net proceeds to the issuer of 99.75% of principal. The notes will not be listed on an exchange and are not bank deposits or FDIC insured.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes under its Medium‑Term Notes, Series N program. The pricing supplement states an aggregate principal amount of $1,035,000, an original issue price of 100%, an interest rate of 4.90% per annum, and a stated maturity date of May 16, 2033. Interest accrues from the original issue date and is payable semiannually on May 15 and November 15 (with the final May payment on the maturity date). The notes will be issued in book‑entry form through DTC, will not be listed on any exchange, and were purchased by Goldman Sachs & Co. LLC as underwriter; underwriting discount is 0.85% of principal.

GS Finance Corp. priced a May 2026 prospectus supplement offering contingent income auto-callable securities linked to the common stock of GE Vernova Inc. The securities mature on May 25, 2029, pay contingent quarterly coupons only if the underlying stock meets a 50.00% downside threshold, and are subject to automatic early redemption if the stock closes at or above the initial share price on any call observation date. Payments at maturity depend on the final share price: if the final share price is below the downside threshold investors may lose a significant portion or all of principal; if it is at or above the downside threshold, investors receive $1,000 plus any final contingent coupon.

GS Finance Corp. is offering contingent variable coupon ETF-linked notes due May 17, 2028, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note pays quarterly coupons tied to reference-day closings of the SPDR® Gold Trust (initial level $432.93) and a maturity payment linked to the ETF return with a 110% participation rate and a $1,400 per-$1,000 maximum settlement. Principal protection applies only if the final ETF level is between 90% and 110% of the initial level; below 90% investors incur pro rata losses. The estimated value on the trade date was approximately $962 per $1,000 face amount; original issue price is 100% of face amount.

The Goldman Sachs Group, Inc. is issuing $2,000,000 principal amount of fixed rate medium-term notes due May 14, 2038. The notes bear interest at $5.25% per annum, pay interest annually on May 15 beginning May 15, 2027, and were originally issued at 100% of principal.

The offering is being purchased by Goldman Sachs & Co. LLC with an underwriting discount of 1.3% and net proceeds to the issuer of 98.7% of principal. The notes will be issued in book-entry form under a master global note and will not be listed on any exchange.

GS Finance Corp. is offering callable 10-year CMT rate-linked range accrual notes due May 15, 2031, guaranteed by The Goldman Sachs Group, Inc. Interest, if any, is paid quarterly beginning August 15, 2026 and is calculated by multiplying an interest factor of 12.10% by the fraction of reference dates in each quarter when the 10-year CMT rate is ≤ 4.50%. The notes may be redeemed at the issuer’s option on any quarterly interest payment date on or after May 15, 2027 at 100% of face plus accrued interest. The estimated value at trade date is approximately $960 per $1,000 face amount; original issue price is 100% with a 1.50% underwriting discount.

The Goldman Sachs Group, Inc. is offering $25,000,000 aggregate principal amount of Fixed Rate Notes due July 15, 2027 under its Medium‑Term Notes, Series N program. The notes pay interest at 4.1% per annum from and including the original issue date May 15, 2026 to but excluding maturity, with interest payment dates on November 15, 2026, May 15, 2027 and the stated maturity date.

The offering is being sold to Goldman Sachs & Co. LLC, initially at 100% of principal ($25,000,000) with an underwriting concession not in excess of 0.02% (shown as $5,000); proceeds to The Goldman Sachs Group, Inc. before expenses are shown as $24,995,000. The notes will be issued in book‑entry form through DTC and may be resold in market‑making transactions by affiliates.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes under its Medium-Term Notes, Series N program. The notes have a principal amount of $1,000,000 (specified currency U.S. dollars), an interest rate of 4.50% per annum, an original issue price of 100%, an original issue date of May 15, 2026 and a stated maturity date of May 15, 2029. Interest is payable semiannually on May 15 and November 15, commencing November 15, 2026, calculated using the 30/360 (ISDA) day count convention. The notes will be issued in book-entry form as a master global note held in DTC. Underwriting discount is 0.2%, leaving net proceeds to the issuer of 99.8% of principal. The notes will not be listed on any exchange.

The Goldman Sachs Group, Inc. is offering fixed-rate medium-term notes with a principal amount of $2,000,000 and an interest rate of 5.15% per annum. The notes will be issued on May 15, 2026 and mature on May 15, 2036, with annual interest payments each May 15 beginning May 15, 2027. The original issue price is 100% of principal, the underwriting discount is 0.975% of principal, and net proceeds to the issuer are 99.025% of principal. The notes will be issued in book-entry form under a master global note registered to DTC, will not be listed on any exchange, and may be resold in market-making transactions by affiliates. The offering is subject to customary transfer restrictions in multiple jurisdictions and to FATCA withholding rules.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes with a $2,000,000 principal amount under its Medium-Term Notes, Series N program. The notes carry a 5.00% per annum fixed interest rate, settle in book-entry form through DTC, have an original issue date of May 15, 2026, and a stated maturity of May 15, 2036. The original issue price is 100% of principal; underwriting compensation is 2.075% and net proceeds to the issuer are 97.925% of principal. Interest pays annually each May 15 beginning May 15, 2027. The notes will not be listed on any exchange; they are offered by Goldman Sachs & Co. LLC with potential affiliate market-making and are subject to distribution and jurisdictional restrictions described in the supplement.

The Goldman Sachs Group, Inc. is offering fixed rate notes with a $6,500,000 principal amount under its Medium-Term Notes, Series N program. The notes carry a 4.65% per annum coupon, pay interest semiannually on May 15 and November 15, have a stated maturity of May 15, 2031, and were issued at 100% of principal with an underwriting discount of 0.796%. The notes will be issued in book-entry form as a master global note and will not be listed on any exchange. This pricing supplement supplements the February 14, 2025 prospectus documents and controls if inconsistent with them.

The Goldman Sachs Group, Inc. is offering $6,500,000 principal of fixed rate medium-term notes due May 15, 2031. The notes pay interest at 4.75% per annum from the original issue date through but excluding maturity, with semiannual payments on May 15 and November 15, commencing November 15, 2026.

The notes will be issued at 100% of principal (original issue price) with an underwriting discount of 0.638%, producing net proceeds to the issuer of 99.362% of principal. They will be issued in book-entry form through DTC, will not be exchange-listed, and may be resold in market-making transactions by affiliates.

Goldman Sachs Bank USA is offering $30,000,000 of callable fixed rate bank notes due May 15, 2029, issued on May 15, 2026. The notes pay interest at 4.60% per annum on May 15 and November 15, commencing November 15, 2026.

The notes are subordinated, unsecured bank obligations, not FDIC insured and not registered under the Securities Act; they are being sold in reliance on Section 3(a)(2) of the Securities Act. The issuer may redeem the notes in whole (but not in part) on scheduled quarterly redemption dates on or after November 15, 2027 at a price equal to 100% of principal plus accrued interest.

The Goldman Sachs Group, Inc. is offering fixed‑rate notes with a stated principal amount of $1,000,000. The notes bear interest at 5.50% per annum from the original issue date May 15, 2026 to the stated maturity date May 15, 2046, with annual interest payments each May 15 commencing May 15, 2027.

They will be issued at an original issue price of 100% of principal, with an underwriting discount of 1.5% and net proceeds to the issuer of 98.5% of principal. The notes will be issued in book‑entry form as a master global note and will not be listed on any exchange.

GS Finance Corp. is offering $1,925,000 aggregate face amount of callable 10‑Year CMT rate‑linked range accrual notes due May 15, 2031, guaranteed by The Goldman Sachs Group, Inc. Interest, if any, is payable monthly on the 15th, beginning June 15, 2026, and is determined by multiplying an interest factor of 8.50% by the fraction of scheduled reference dates in each interest period on which the 10‑year CMT rate is ≤ 4.80%. The notes may be redeemed at the issuer’s option on any monthly interest payment date on or after May 15, 2027 at 100% of face plus accrued interest. The prospectus discloses an estimated value at pricing of $959.7 per $1,000 and an original issue price of 100% with an underwriting discount of 2.15% (net proceeds 97.85% of face). Key risks highlighted include credit risk of the issuer and guarantor, limited or no secondary market liquidity, model‑derived estimated value below issue price, issuer redemption optionality, and calculation‑agent discretion over reference rates and related determinations.

The Goldman Sachs Group, Inc. is offering fixed rate medium-term notes with a principal amount of $4,037,000. The notes pay interest at 4.40% per annum, are U.S. dollar‑denominated, issued May 15, 2026, and mature May 15, 2029. Interest dates are May 15 and November 15, commencing November 15, 2026.

The original issue price is 100% of principal; underwriting discount is 0.55%, leaving net proceeds of 99.45% to the issuer. The notes will be issued in book‑entry form through DTC, are not listed, and may be resold in market‑making transactions by affiliates.

GS Finance Corp. priced $6,260,200 of Capped Buffer GEARS linked to the SPDRGold Trust, guaranteed by The Goldman Sachs Group, Inc. These unsecured notes mature in May 2028 and provide 2.00x upside gearing subject to a 27.30% cap and a 10.00% buffer (downside threshold at 90.00% of the initial ETF price). The initial ETF price is $430.50; the maximum settlement amount per $10 face is $12.73. The securities do not pay interest, are subject to issuer and guarantor credit risk, may have limited secondary-market liquidity, and have an estimated value of approximately $9.67 per $10 face amount on the trade date.

Purchase minimum is $1,000; original issue price is 100.00% of face less a 2.00% underwriting discount (net proceeds 98.00%). The return at maturity depends solely on the final closing price of GLD on the determination date May 15, 2028, subject to the cap and buffer.

GS Finance Corp. offers callable, three-year structured notes linked to the S&P 500® Index, the State Street® Technology Select Sector SPDR® ETF (XLK) and the State Street® Real Estate Select Sector SPDR® ETF (XLRE). The notes mature May 29, 2029 (expected) and pay monthly coupons of $6.459 per $1,000 only if each underlier on the related observation date is at or above 50% of its initial level. If not redeemed, principal at maturity is based on the lesser performing underlier: full face amount if that underlier is ≥50% of initial level, or a pro rata loss equal to the lesser performing underlier return times the $1,000 face amount if below 50%. The issuer may redeem notes at par plus any coupon on monthly coupon dates beginning June 1, 2027. Estimated value at pricing is $925–$955 per $1,000 face amount, below the issue price.

GS Finance Corp. is offering Digital EURO STOXX 50® Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the EURO STOXX 50® performance from the May 28, 2026 trade date to the May 28, 2031 determination date.

If the final index level is ≥ the trigger buffer level (75% of the initial level), holders receive at least a threshold settlement amount of $1,376 per $1,000 face amount or $1,000 plus the index return, whichever is greater. If the final level is below the trigger buffer level, holders lose 1% of principal for each 1% decline and could lose their entire investment. The original issue price is 100% of face, underwriting discount 3%, net proceeds 97% of face.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers fixed-coupon notes linked to the S&P 500® Futures Excess Return Index. The notes pay a fixed coupon of $5 per $1,000 on each quarterly coupon date through May 2030 and have an expected stated maturity of May 20, 2031. The cash payment at maturity is determined by the underlier return versus an initial level set on the trade date (expected May 15, 2026) with a threshold settlement amount of $1,450 and a trigger buffer level of 80%. If the final underlier level is below the trigger buffer level, investors can lose principal; the estimated value at pricing is about $885–$925 per $1,000 face amount, below the original issue price. The notes are unsecured obligations subject to issuer and guarantor credit risk and have limited liquidity.

GS Finance Corp. priced trigger autocallable notes linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The notes have annual call observation dates beginning about one year after the trade date and a final determination date expected on May 14, 2031 with stated maturity May 19, 2031. The autocall barrier is 100.00% of the initial index level and the downside threshold is 75.00% of the initial index level. If called, holders receive the $10 face amount plus a call return that increases by call date (annualized range 7.60%-8.10%); if not called and the final index level is below the downside threshold, holders suffer a loss pari passu with the index and could lose their investment. The original issue price is 100.00% of face amount, underwriting discount 2.50%, and minimum purchase $1,000.

GS Finance Corp. is offering autocallable contingent-coupon index-linked notes due (expected) June 5, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a monthly coupon of $6.25 per $1,000 (0.625% monthly; up to 7.5% per annum) when each index is >=70% of its initial level on an observation date. The notes may be automatically called on call observation dates if each index is >=105% of its initial level, producing early redemption at par plus the coupon. At maturity (if not called), the cash settlement depends on the lesser performing index return; if any index is below 70% of its initial level, principal is reduced pro rata to that index return. The estimated value on the trade date is expected to be $925–$965 per $1,000 face amount. Trade date is expected to be May 26, 2026 with original issue date expected May 29, 2026. Risks include loss of principal, issuer and guarantor credit risk, uncertain tax treatment, limited secondary market liquidity and valuation model assumptions.

The Goldman Sachs Group, Inc. is offering fixed rate senior notes due May 29, 2046 with an annual interest rate of 5.50%. The trade date is May 27, 2026 and the original issue date is May 29, 2026. Notes will pay interest each year on May 29, beginning May 29, 2027, be issued in denominations of $1,000, and will be issued in book-entry form through DTC.

The notes will not be listed on an exchange, will be described under Goldman Sachs’ Medium-Term Notes, Series N program, and will be governed by the company’s senior debt indenture dated July 16, 2008. Pricing details (original issue price and underwriting concession) and certain distribution mechanics are stated as ranges and vary by investor category in the pricing supplement.

The Goldman Sachs Group, Inc. is offering fixed rate notes due May 29, 2029 with a stated interest rate of 4.50% per annum. The trade date is May 27, 2026 and the original issue date is May 29, 2026. Notes will be issued in denominations of $1,000 and integral multiples thereof and will be issued in book-entry form as a master global note registered in the name of DTC.

The notes will not be listed on any exchange. Interest is payable semiannually on the 29th of May and November, using the 30/360 (ISDA) day count convention. The calculation agent is Goldman Sachs & Co. LLC. Pricing terms, original issue price and underwriting concessions are to be set on the trade date and vary for certain fee-based advisory accounts as described in the supplemental plan of distribution.