Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers $22,002,080 face amount of Trigger Autocallable Contingent Yield Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the lesser performing of the Russell 2000® Index and the S&P 500® Index and pay a quarterly contingent coupon of $0.2125 per $10 (up to 8.50% per annum) only if both indices meet a 70% coupon barrier on each observation date. Commencing November 2026 the notes are subject to an automatic call if both indices equal or exceed their initial index levels; at maturity, if any index is below 70% of its initial level the cash settlement will reflect the percentage decline of the lesser performing index. The original issue price is 100.00% of face; the estimated value at pricing was approximately $9.82 per $10. Payments are unsecured and subject to issuer and guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal‑at‑risk, S&P 500® linked notes with a capped upside and a 10% downside buffer. For each $1,000 face amount, investors receive a maximum cash payment of $1,151 if the final index level is ≥ the 90% buffer level; if the final index level is below 90% of the initial level, losses accrue at approximately 1.1111% of face for each 1% decline below the buffer and investors could lose their entire investment. The notes pay no interest, mature on February 3, 2028 (determination date February 1, 2028) and were issued with an original issue price of 100% and an underwriting discount of 1.65%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, non‑interest bearing notes tied to the S&P 500 Index. The notes pay at maturity based on the index performance from May 8, 2026 to August 5, 2027.

For each $1,000 face amount, holders receive either $1,000 + ($1,000 × 300% × underlier return) capped at a maximum settlement amount of $1,176.40, or, if the final level is at or below the initial level, $1,000 plus the underlier return (which can result in loss of principal). Aggregate face amount shown is $43,388,000. Original issue price is 100% of face with a 0.94% underwriting discount and 99.06% net proceeds to issuer.

GS Finance Corp. is offering contingent quarterly-coupon, equity-linked notes tied to United Rentals, Inc. ("URI") stock with an aggregate face amount of $2,428,000. Each $1,000 note pays a contingent quarterly coupon only if the closing underlier level on an observation date is ≥ 60% of the initial level ($937.00). If not redeemed early, final cash at maturity equals $1,000 if the final underlier level is ≥ 60% of the initial level; otherwise the cash payment equals $1,000×(1 + underlier return), which can result in a complete loss of principal. The issuer may redeem the notes on coupon payment dates beginning November 2026. The notes are senior unsecured obligations of GS Finance Corp., unlisted, and fully guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured, callable notes tied to the common stock of NVIDIA Corporation with an aggregate face amount of $1,673,000, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10.459 per $1,000 (1.0459% monthly, up to ~12.55% per annum) only when the underlier's closing level on each coupon observation date is at least 75% of the initial level. The notes may be automatically called if the underlier equals or exceeds the initial underlier level on any call observation date; if not called, final cash settlement at maturity (stated maturity June 11, 2027) depends on the final underlier level and a 25% buffer feature that caps upside at 100% of face while exposing investors to losses if the final level falls below the buffer level. Trade date is May 8, 2026 and initial underlier level is $215.20. The notes are senior unsecured obligations under GS Finance Corp.'s Medium-Term Notes program; market liquidity, tax treatment, and issuer/guarantor credit risk are disclosed as material risks.

GS Finance Corp. offers structured notes linked to the Russell 2000® Index. For each $1,000 face amount, the cash payment at maturity will equal $1,000 plus a participation payout if the final index level exceeds the initial level, subject to a maximum settlement amount of $1,258. If the index falls, holders lose in direct proportion to the index decline and could lose their entire investment. The notes pay no interest, carry an upside participation rate of 300%, and are fully guaranteed by The Goldman Sachs Group, Inc.

The trade date is May 8, 2026, original issue date May 13, 2026, and stated maturity is August 9, 2027 (determination date August 5, 2027, subject to adjustment). The aggregate face amount offered is $16,295,000.

The offered notes are S&P 500-linked, principal-at-risk buffer notes issued by GS Finance Corp. and fully guaranteed by The Goldman Sachs Group, Inc. For each $1,000 face amount, the cash payment at maturity is either the maximum settlement amount of $1,158 if the final index level is at or above the buffer level (90%), or otherwise declines pro rata: investors lose approximately 1.1111% of face amount for each 1% the final index level is below the buffer (buffer rate ~111.11%). The notes pay no interest, have an original issue price of 100% of face and mature in February 2028. The offering totals $39,720,000 aggregate face amount and carries an underwriting discount of 0.97%. Tax treatment is uncertain and Sidley Austin LLP opines these are taxable as pre-paid derivative contracts.

GS Finance Corp. priced Market Linked Securities — Auto‑Callable with Contingent Coupon with Memory Feature linked to the Class A common stock of Strategy Inc (formerly MicroStrategy) with a May 11, 2029 stated maturity. The offering aggregates $440,000 in face amount at an original offering price of $1,000 per security.

Each $1,000 face amount pays a monthly contingent coupon of $21.042 (approximately 25.25% per annum) only when the underlying stock closing price on a calculation day is at or above the coupon threshold (50% of the starting price). The securities are auto‑callable if the stock closes at or above the starting price on a call date; if not called, principal at maturity depends on the ending price versus a downside threshold equal to 50% of the starting price. The estimated value at pricing was approximately $964 per $1,000 face amount; payments remain subject to issuer/guarantor credit risk.

GS Finance Corp. is offering structured medium-term notes guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays a contingent monthly coupon of $8.209 (0.8209% monthly; potential up to approximately 9.85% per annum) if all three underliers meet 60% trigger levels on observation dates. The notes are linked to the Dow Jones Industrial Average, the Nasdaq-100 and the Russell 2000. If not automatically called, the cash payment at maturity depends solely on the performance of the lesser performing underlier; a low final level can cause loss of principal, including any premium paid. The notes may be automatically called on certain quarterly observation dates if each underlier is at or above its initial level. Trade date is May 8, 2026, original issue date May 13, 2026, and stated maturity is May 11, 2029.

GS Finance Corp. is offering structured, callable notes linked to the common stocks of UPS, T-Mobile US, Home Depot and Walmart. Each $1,000 note can pay a monthly coupon of $6.375 (0.6375% monthly; 7.65% annualized) if, on a coupon observation date, every index stock is at or above 75% of its initial index stock price. Notes may be automatically called on scheduled call observation dates beginning in May 2027 if every index stock is at or above its initial price; expected stated maturity is May 22, 2031. The trade date for setting initial index stock prices is expected to be May 15, 2026, and the original issue date is expected to be May 20, 2026. The prospectus warns that the estimated model value at pricing is between $885 and $925 per $1,000 face amount and that payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to an equally weighted basket of 9 common stocks with an initial basket level of 100. The notes mature on May 11, 2028 and are subject to an automatic call if the basket closing level on the call observation date (May 21, 2027) is >=100, in which case each $1,000 face amount pays $1,192.50 on the call payment date (May 26, 2027). If not called, maturity payoffs depend on the basket return: positive returns receive $1,000 plus 125% participation of the basket return; returns between 0% and -20% return $1,000; returns below -20% produce a reduced cash settlement using a 125% buffer rate and a 20% buffer amount. The original issue price is 100% of face and the aggregate face amount on the original issue date is $5,778,000. The estimated model value on the trade date is approximately $951 per $1,000 face, and the underwriting discount is 1.5%.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes bearing interest at 5.125% per annum from and including the original issue date (expected May 29, 2026) to but excluding the stated maturity date (expected May 13, 2033).

Interest is payable on each interest payment date (expected each May 29 and the stated maturity date) with the first payment expected on May 29, 2027. The issuer may redeem the notes in whole (not in part) on scheduled redemption dates (regular February, May 29, August 29 and November 29 dates on or after November 29, 2027) at a redemption price equal to 100% of principal plus accrued interest. Interest is calculated using the 30/360 (ISDA) day count convention. The notes will be issued in a book-entry master global note through DTC. Underwriters named include Goldman Sachs & Co. LLC and InspereX LLC; market-making by underwriters is discretionary. The offering is subject to various jurisdictional distribution restrictions and FATCA withholding rules.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due November 13, 2028 that pay interest at 4.70% per annum from and including the original issue date May 13, 2026 to but excluding maturity. Interest is payable semiannually on May 13 and November 13, beginning November 13, 2026.

The notes are callable at the issuer’s option in whole (not in part) on specified redemption dates on or after November 13, 2026, at a price equal to 100% of principal plus accrued interest with at least five business days’ prior notice. The offering settles on May 13, 2026.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering indexed, non‑interest bearing medium‑term notes linked to the S&P 500® Futures Excess Return Index. For each $1,000 face amount, maturity payout depends on the final underlier level versus the initial level and an 80% buffer: upside is participation at 131.09% of the underlier return above the initial level; if the underlier declines by up to 20% you receive the $1,000 face amount; if the underlier declines by more than 20% you bear losses equal to the decline beyond the buffer (100% buffer rate), potentially losing a substantial portion of principal. Trade date is May 8, 2026, original issue date May 13, 2026, determination date November 8, 2028 and stated maturity November 13, 2028. The notes do not pay interest, are cash‑settled, and are subject to issuer and guarantor credit risk; original issue price equals 100% of face amount less a 1% underwriting discount.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to an equally weighted basket of six stocks with an initial basket level of 100. The notes mature on May 11, 2028 unless automatically called on the call observation date May 20, 2027. If called, each $1,000 face amount pays $1,272.50 on the call payment date. At maturity, payoff depends on the basket return: positive returns receive 125% participation; final levels between the initial level and a 15% buffer return principal; final levels below the buffer suffer losses subject to a buffer rate ≈117.65%. The offering lists an aggregate face amount of $1,000,000 on original issue date and an estimated value on the trade date of approximately $949 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and are guaranteed by The Goldman Sachs Group, Inc.

The pricing supplement describes Contingent Income Auto-Callable Securities issued by GS Finance Corp.$21,289,000 (aggregate principal) and matures on May 11, 2029, subject to automatic early redemption if the underlying closes at or above the initial share price on a call observation date. Payments depend on the final share price relative to a 50.00% downside threshold; investors may receive contingent quarterly coupons only when observation-date closes meet that threshold and may lose a substantial portion or all principal if the final share price is below the threshold.

GS Finance Corp. is offering structured, S&P 500®-linked notes with an aggregate face amount of $2,300,000. The notes pay no interest and return at maturity depends on the S&P 500 closing level from May 7, 2026 (initial underlier level) to the determination date. If the final level exceeds the initial level, holders receive the face amount plus the underlier return multiplied by an upside participation rate of 150%, capped at a $1,168.50 maximum settlement amount per $1,000 face amount. If the final level is between 80% (the buffer level) and the initial level, holders receive the face amount. If the final level is below the buffer level, losses are calculated using a buffer rate of 125%, and investors could lose their entire investment. The notes are issued by GS Finance Corp. and fully guaranteed by The Goldman Sachs Group, Inc.; trade date is May 8, 2026, original issue date May 13, 2026, determination date October 8, 2027 and stated maturity date October 14, 2027 (subject to adjustment).

GS Finance Corp. priced contingent monthly coupon, autocallable principal-at-risk notes (aggregate face amount $4,865,000) linked to the Nasdaq-100, Russell 2000 and S&P 500. Coupons of 1.0% monthly are paid only if each underlier is >= 70% of its initial level on observation dates. If any final underlier is below its 60% trigger buffer, the maturity cash payment equals $1,000 plus the lesser performing underlier return × $1,000, so investors can lose up to the full principal. The notes may be automatically called earlier if, on any call observation date, each underlier is >= its initial level; maturity and final determination dates are in May 2029.

GS Finance Corp. is offering cash-settled, principal-at-risk notes linked to Micron Technology common stock. For each $1,000 face amount, investors receive either a capped upside equal to $1,000 plus 200% of the underlier return (capped at $1,542.50), the face amount, or a loss proportional to the underlier decline if the final level falls below 40% of the initial level. The notes pay no interest, are guaranteed by The Goldman Sachs Group, Inc., and mature on June 11, 2027 (determination date June 8, 2027), with an initial underlier level of $640.20 set on May 5, 2026.

GS Finance Corp. priced Contingent Income Auto-Callable Securities linked to the common stock of Amazon.com, Inc. with an aggregate original principal amount of $20,057,000. Each $1,000 security has an initial share price of $272.68, a downside threshold of $177.242 (65.00% of initial), and a contingent quarterly coupon of $26.625 payable only if observation-date closing prices meet the threshold. Securities will be automatically called if the underlying closes at or above the initial share price on any call observation date; at maturity unpaid principal is protected only if the final share price is at or above the downside threshold, otherwise payment equals the share performance factor times principal. The original issue price is 100% of principal, estimated model value was approximately $971 per security, and the underwriting discount is 2.25%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering contingent‑coupon, auto‑callable notes linked to the common stock of Amazon.com, Inc. The pricing supplement sets an aggregate face amount of $5,392,000 with a $1,000 face amount per note. Notes pay a contingent quarterly coupon (built from a $41.25 increment per qualifying observation) only if the underlier closes at or above the coupon trigger level (85% of the initial underlier level) on coupon observation dates. The notes are automatically called on a call payment date if the underlier closes at or above the initial level ($272.68) on a call observation date, in which case holders receive $1,000 plus any coupon then due. At maturity (May 27, 2027) a cash settlement formula applies that caps upside at 100% of face and, if the final underlier level is below the buffer level (85%), can produce a substantial loss up to the entire investment. The notes are senior unsecured obligations, not bank deposits, carry issuer and guarantor credit risk, and were offered with a 1% underwriting discount (net proceeds 99%).

GS Finance Corp. offers autocallable structured notes linked to the Dow Jones Industrial Average®, the Russell 2000® Index and the State Street® Technology Select Sector SPDR® ETF that mature May 15, 2029. Each $1,000 note may pay a monthly coupon of $8.625 if, on a coupon observation date, the closing level of each underlier is at least 70% of its initial level. The notes will be automatically called on a call observation date beginning in November 2026 if each underlier’s closing level is at or above its initial level, in which case holders receive the face amount plus the coupon on the next call payment date. At maturity (the determination date is May 8, 2029), if any underlier’s final level is below 70% of its initial level the cash settlement equals $1,000 plus the lesser performing underlier return times $1,000, which can produce a loss of principal. The aggregate original face amount on the issue date was $2,587,000 and the estimated value at pricing was approximately $970 per $1,000 face amount.

GS Finance Corp. priced $4,000,000 of Auto-Callable Trigger PLUS notes due May 13, 2031. The unsecured notes (guaranteed by The Goldman Sachs Group, Inc.) pay $1,110 per $1,000 if the S&P 500® closing value on the call observation date is >= the initial index value of 7,398.93 (call payment May 20, 2027).

If not called, maturity payoffs depend on the final index value on the valuation date (May 8, 2031): investors receive leveraged upside (leverage factor 140.00%) for positive index returns, full principal if the final index value is >= the downside threshold (5,549.1975, 75.00% of the initial index value), or a pro rata loss if the final index value is below that threshold. The prospectus shows an estimated model value of approximately $976 per $1,000 and original issue price of 100.00% with underwriting discount 1.60%.

GS Finance Corp. is offering $4,578,000 of contingent quarterly coupon, automatic-call notes guaranteed by The Goldman Sachs Group, Inc., linked to the Nasdaq-100, Russell 2000 and S&P 500 indexes. The notes pay a contingent coupon of $26 per $1,000 (2.6% quarterly; up to 10.4% per annum) only if each underlier is at or above 70% of its initial level on the applicable coupon observation date. The notes are automatically called if each underlier is at or above its initial level on a call observation date. If not called, the cash settlement at maturity (stated maturity May 11, 2029) is based solely on the lesser performing underlier; investors could lose up to 100% of their investment. Trade date is May 8, 2026; original issue price is 100% with an underwriting discount of 1.85% (net proceeds 98.15%).

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable structured notes tied to the Class C capital stock of Alphabet Inc., common stock of Caterpillar Inc. and common stock of Amazon.com, Inc. The notes have a face amount in $1,000 denominations and an expected trade date of May 28, 2026 with an original issue date expected to be June 2, 2026.

Payments: monthly coupons of either $4.709 (maximum) or $0.209 (minimum) per $1,000 face, determined monthly by whether each index stock’s closing price is >= 70% of its initial price. Notes may be automatically called on observation dates beginning in May 2027 through April 2031; stated maturity is expected to be June 4, 2031.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes bearing interest at 5.375% per annum, with an original issue date expected to be May 29, 2026 and a stated maturity date expected to be May 13, 2036. Interest is payable annually on expected May 29, with the first payment expected on May 29, 2027. The notes are callable at the issuer's option in whole, but not in part, on specified redemption dates beginning on or after November 29, 2027, at a redemption price equal to 100% of principal plus accrued interest. Interest accrual uses the 30/360 (ISDA) convention; February redemptions may use a factor less than 270/360. The notes will be issued in book-entry form through DTC and will settle on May 29, 2026.

The Goldman Sachs Group, Inc. is offering callable fixed-rate medium-term notes that pay interest at 4.75% per annum, accruing from the expected original issue date of May 29, 2026 to the expected stated maturity of May 29, 2030. Interest is expected to be paid semiannually on May 29 and November 29, with the first payment expected on November 29, 2026.

The notes are callable at the issuer’s option, in whole but not in part, on specified redemption dates beginning on or after May 29, 2028, at a redemption price equal to 100% of principal plus accrued interest. Interest accrual uses the 30/360 (ISDA) day count; on February redemption dates the accrual factor is 89/360. The notes will be issued in book-entry form through DTC and are a new issue with no established trading market.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due 2032 carrying a fixed interest rate of 5.025% per annum, with an original issue date expected to be May 28, 2026 and a stated maturity expected to be May 28, 2032. Interest is scheduled to be paid annually on each May 28, with the first payment expected on May 28, 2027.

The notes are callable by the issuer in whole, but not in part, on scheduled redemption dates (expected quarterly on Feb 28, May 28, Aug 28 and Nov 28 on or after May 28, 2027) at a redemption price equal to 100% of principal plus accrued interest. The offering will settle through DTC in immediately available funds on May 28, 2026. Pricing mechanics (initial price to public, underwriting discount, and proceeds) are described but specific numeric amounts are not provided in the excerpt.

The Goldman Sachs Group, Inc. is offering Callable Fixed Rate Notes due May 26, 2036 that pay interest at 5.50% per annum from and including the original issue date (expected May 26, 2026) to but excluding maturity. Interest is payable semiannually each May 26 and November 26, with the first payment expected on November 26, 2026.

The notes are callable at the issuer's option in whole (not in part) on each redemption date (expected each Feb 26, May 26, Aug 26 and Nov 26 on or after May 26, 2027) at 100% of principal plus accrued interest, with at least five business days' prior notice. The offering will settle and be delivered in New York on May 26, 2026. The notes will be issued in book-entry form through DTC and are subject to FATCA withholding rules.

GS Finance Corp. is offering Digital Equity-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and will pay at maturity either a capped positive cash settlement of $1,420 (if the final underlier level is ≥ the 70% trigger buffer level) or a downside cash payment that declines one-for-one with the underlier below the initial level, potentially resulting in loss of principal. The underlier is Snowflake Inc. common stock; trade date and issue dates are May 21, 2026 and May 27, 2026, with a determination date of June 21, 2027 and stated maturity June 24, 2027. The notes pay no interest and are subject to issuer and guarantor credit risk, underwriting discounts/structuring fees, limited liquidity, tax uncertainty, and anti-dilution adjustments described in the general terms supplement.

GS Finance Corp. is offering callable, non‑interest bearing structured notes linked to an equally weighted basket of six stocks. The notes have an initial basket level of 100, an upside participation rate of 125%, a buffer level of 85% and a buffer rate of approximately 117.65%. The notes are expected to trade on May 15, 2026, may be automatically called on May 28, 2027 for at least $1,201.50 per $1,000 face amount, and have a stated maturity expected to be May 18, 2028. The estimated value at pricing is expected to be between $900 and $930 per $1,000. Payments at maturity depend on the basket return as calculated on the determination date; holders bear credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers structured notes with an aggregate face amount of $1,398,000 linked to the Russell 2000® Index. The notes pay no interest and return a cash settlement at maturity based on the underlier return, with a 110% upside participation rate capped at $1,220 per $1,000 face amount and a 10% downside buffer (buffer level = 90% of the initial underlier level). Trade date is May 8, 2026, original issue date May 13, 2026, determination date June 8, 2027 and stated maturity date June 11, 2027. 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, model assumptions that make the original issue price exceed estimated model value, limited secondary-market liquidity, tax uncertainty, and potential substantial principal loss if the final underlier level falls below the buffer.

GS Finance Corp. is offering Leveraged Callable Index-Linked Notes due May 13, 2031 with an aggregate face amount of $1,614,000, guaranteed by The Goldman Sachs Group, Inc. The notes reference the lesser performing of the S&P 500® and Nasdaq-100® indices and pay at maturity either (a) $1,000 plus 2× the lesser performing index return if both indices finish above their initial levels, (b) $1,000 if both finish at or above 50% of initial levels but any index is at-or-below its initial level, or (c) $1,000 × (1 + lesser performing index return) if the lesser performing index finishes below 50% of its initial level. The notes are callable monthly from May 2027 through May 2028 at specified call premiums. Trade date is May 8, 2026; original issue date is May 13, 2026; original issue price is 100%. The estimated value on the trade date is approximately $982 per $1,000 face amount. Investors bear issuer/guarantor credit risk, no interest payments, and possible total loss of principal.

GS Finance Corp. offers principal-at-risk, callable notes linked to the VanEck Gold Miners ETF and the Global X Silver Miners ETF. The notes (expected trade date May 15, 2026, original issue date May 20, 2026, stated maturity May 22, 2031) pay a conditional monthly coupon (product of $9.792 per $1,000 face per coupon accrual) only if both ETFs close at or above 80% of their initial levels on coupon observation dates. The notes are automatically called on a call observation date (May 2027–April 2031 window) if both ETFs close at or above their initial levels; called notes pay face amount plus accrued coupon. If not called, maturity payoff per $1,000 depends on the lesser-performing ETF: full principal if that ETF is >= 80% of its initial level, otherwise a pro rata loss applying a 20% buffer. Estimated value at pricing is between $885 and $925 per $1,000 face amount. Payments are subject to the issuer and guarantor credit risk and to ETF, market disruption, and tax risks.

GS Finance Corp. offers structured notes tied to the S&P 500, Russell 2000 and the State Street® Consumer Staples Select Sector SPDR® ETF. The notes pay a monthly coupon of $9.875 per $1,000 (0.9875% monthly; potential up to 11.85% per annum) when each underlier is ≥ 70% of its initial level on a coupon observation date. The notes have an expected trade date of May 15, 2026, an original issue date expected May 20, 2026, and a stated maturity date expected May 18, 2029. They are subject to an automatic call (full redemption) on call observation dates if all underliers are ≥ their initial levels. If not called, the maturity payment depends on the single lesser performing underlier; a final underlier level <70% results in principal loss tied to that underlier's return. The estimated value on the trade date is between $925 and $955 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and carry issuer and market risks described herein.

GS Finance Corp. is offering leveraged callable S&P 500® Futures Excess Return Index‑linked notes guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, an expected trade date of May 20, 2026 and an expected stated maturity of May 26, 2033. The notes pay at maturity either the face amount or, if the final underlier level is greater than the initial underlier level, $1,000 plus 4.6 times the index return per $1,000 face. The issuer may redeem the notes on monthly call payment dates beginning May 26, 2027; the first call premium is 10.0008%. The notes reference E‑mini S&P 500 futures (not the S&P 500® Index), are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, and have an estimated value on the trade date of $885–$925 per $1,000 face.

GS Finance Corp. is offering leveraged buffered basket-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes measure performance of a five-index weighted basket from an expected trade date of May 21, 2026 to an expected determination date of May 22, 2028, with a stated maturity expected on May 25, 2028. For each $1,000 face amount, holders receive either: (a) $1,000 plus 150% upside participation of the basket return (capped at a maximum settlement amount of $1,270), (b) $1,000 if the final basket level declines up to 10%, or (c) less than $1,000 if the final basket level declines by more than 10%. The notes pay no interest, are unsecured, subject to credit risk of the issuer and guarantor, and had an estimated initial value between $925 and $965 per $1,000 face amount on the trade date.

GS Finance Corp. launches a structured, autocallable note linked to an equally weighted 9-stock basket guaranteed by The Goldman Sachs Group, Inc. The notes have an initial basket level of 100, an upside participation rate of 125%, a buffer level of 80% and an automatic-call feature that would pay at least $1,193.50 per $1,000 face amount if the call trigger is met. Key dates set on the trade date include the trade date (expected May 15, 2026), call observation date (expected May 28, 2027) and stated maturity date (expected May 18, 2028). The estimated value on the trade date is expected between $900 and $930 per $1,000 face amount; market value and ultimate payments depend on basket performance, issuer/guarantor credit and pricing-model assumptions.

GS Finance Corp. priced Market Linked Securities — Auto-Callable with Contingent Coupon with Memory linked to the Class A common stock of Coinbase Global, Inc. Pricing date was May 8, 2026, original issue date May 13, 2026, stated maturity May 11, 2029. Each $1,000 face amount pays a quarterly contingent coupon of $57.50 (equivalent to 23.00% per annum) if the stock closing price on a calculation day is >= the coupon threshold (50% of the starting price). The starting price is $201.16. The securities are automatically called if the stock closing price on any call date is >= the starting price. If not called, principal at maturity depends on the ending price versus the downside threshold (50% of the starting price) and can result in loss of more than 50% or the entire face amount. The estimated value at pricing was approximately $963 per $1,000 face amount and the original offering price was $1,000 per security. Underwriting discount was 2.325% ($23.25 per $1,000). All payments are unsecured and subject to issuer and guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering medium‑term notes linked to the S&P 500® Index that pay no interest and can be automatically called. For each $1,000 face amount, investors receive $1,095 if the underlier on the call observation date is greater than or equal to the initial level; otherwise the maturity cash payment depends on the S&P 500’s performance, a 125% upside participation rate and a 10% buffer (buffer level = 90% of the initial level). The notes have an original issue price equal to face amount, an underwriting discount of 1.75%, and aggregate face amount shown of $2,206,000. Trade date is May 7, 2026, original issue date May 12, 2026, call observation date May 14, 2027, call payment date May 19, 2027, determination date May 8, 2028, and stated maturity May 11, 2028. Investors bear market risk in the underlier and the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.; the notes are cash‑settled and not equity or deposit instruments.

GS Finance Corp. is offering fixed coupon index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay a fixed coupon of $13.375 per $1,000 (1.3375% quarterly, up to 5.35% per annum) with expected trade date May 28, 2026 and expected stated maturity June 2, 2031. The cash payment at maturity (in addition to the final coupon) is linked to the performance of the lesser performing of the Russell 2000 and the S&P 500 measured from the initial level on the trade date to the final level on the determination date May 23, 2031. A 20% buffer applies (buffer level = 80% of initial level); if the lesser performing index return is below -20% the cash settlement declines below face amount. The pricing models estimate an initial value between $886 and $936 per $1,000 face amount, less than issue price. The notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and subject to issuer and market risks including credit, tax, liquidity, and market disruption provisions.

GS Finance Corp. is offering $ callable contingent coupon index-linked notes due May 17, 2029, guaranteed by The Goldman Sachs Group, Inc.. Each $1,000 face amount will pay a contingent monthly coupon of $7.292 if both underlying indices close at or above 70% of their initial levels on the related observation dates. At maturity (or upon no redemption), the cash settlement equals $1,000 if the lesser performing underlier is at or above 50% of its initial level; if below 50%, the payment equals $1,000 multiplied by the lesser performing underlier return, exposing investors to potential loss of principal, including most or all of invested premium.

The issuer may redeem the notes on any coupon payment date beginning in August 2026. The notes are unsecured senior obligations and subject to issuer and guarantor credit risk; market value may differ materially from original issue price.

GS Finance Corp. is offering autocallable contingent coupon underlier-linked notes due May 20, 2032, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon and may be automatically called on specified observation dates; final cash at maturity depends on the lesser performing underlier.

The notes reference the Nasdaq-100 Technology Sector Index, the Russell 2000® Index and the VanEck Semiconductor ETF (SMH). Coupons of $17.084 per $1,000 may be paid on a coupon date only if each underlier is at or above 75% of its initial level; a trigger buffer for principal protection is 60% of initial levels. If not called, the cash settlement at maturity equals $1,000 if the final lesser performing underlier is at or above 60% (subject to the disclosed schedule) or declines pro rata with the lesser performing underlier below that level, potentially causing loss of principal.

GS Finance Corp. offers principal-protected, callable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes have an aggregate face amount of $1,056,000, a 100% upside participation rate, and automatic annual call features with increasing call levels and call premiums through May 13, 2032. If not called, maturity is on May 9, 2033, and the cash settlement depends on index performance; negative or zero index returns result in repayment of the face amount only. The notes do not pay interest and are subject to issuer and guarantor credit risk.

The pricing supplement describes offered indexed notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $2,286,000. The notes pay no interest, may be automatically called on specified observation dates and mature on May 9, 2033. If not called, maturity payment depends on the index return of the Goldman Sachs Momentum Builder® Focus ER Index with a 100% upside participation rate, subject to deductions and a 0.65% per annum deduction in the index. The initial index level is 113.30. The estimated value on the trade date is $895 per $1,000 face amount; original issue price is 100% with an underwriting discount of 4.625%. The notes are subject to issuer and guarantor credit risk, limited upside on call, potential allocation of the index to cash positions (which earn zero net excess return before the deduction), and complex index methodology described in the supplement.

GS Finance Corp. is offering principal-protected, contingent income notes linked to the State Street SPDR S&P Bank ETF and the VanEck Semiconductor ETF. The notes mature on February 15, 2029 unless automatically called on a call observation date between November 2026 and January 2029. Monthly coupons equal to $8.334 per $1,000 (0.8334% monthly, ~10% annualized) are payable on a coupon payment date only if the closing level of each ETF on the related coupon observation date is ≥ 75% of its initial level. If on any call observation date the closing level of each ETF is ≥ 95% of its initial level, the notes will be automatically called and you will receive the face amount plus the coupon then due. At maturity (if not called) the cash settlement depends on the lesser performing ETF: you receive $1,000 if that ETF’s final level is ≥ 75% of its initial level, otherwise you receive an amount that linearly decreases below the face amount based on the lesser performing ETF return and a 25% buffer. Initial underlier levels are $64.05 (KBE) and $566.54 (SMH). The estimated value on the trade date was approximately $951 per $1,000; original issue price is 100% with an underwriting discount of 3.5% and net proceeds 96.5%. Payments depend on the issuer’s and guarantor’s creditworthiness and are subject to market, trading, tax and structural risks described in the supplement.

GS Finance Corp. is offering callable, principal‑at‑risk notes linked to the Class A common stock of Meta Platforms, Inc. The notes pay a fixed monthly coupon of $10.209 per $1,000 face amount (1.0209% monthly, up to ~12.25% per annum) and may be automatically called on specified monthly observation dates if the index stock closes at or above the initial index stock price.

If not called, the cash payment at maturity (expected July 2, 2027) depends on the index stock return measured from the trade date (expected May 29, 2026) to the determination date (expected June 29, 2027). A trigger buffer of 68% of the initial price protects principal down to that level; below that threshold investors suffer a pro rata loss based on the index stock return. The estimated value on the trade date is between $925 and $965 per $1,000 face amount.

The Autocallable Contingent Coupon (with Memory) Barrier Notes are senior unsecured notes issued by GS Finance Corp. and fully guaranteed by The Goldman Sachs Group, Inc. 400,000 units of $10 principal per unit were priced on May 7, 2026 and settle on May 14, 2026. The notes pay a quarterly contingent coupon of $0.55 per unit (22.00% per annum) if the Observation Value of an ordinary share of FTAI Aviation Ltd. is at or above the Coupon Barrier ($149.90) on a Coupon Observation Date. The notes are automatically callable if the Observation Value is at or above the Call Value ($272.54) on any Call Observation Date; if called, holders receive principal plus the contingent coupon otherwise due. If not called, maturity is May 14, 2027, with 1-to-1 downside exposure if the Ending Value is below the Threshold Value ($149.90), exposing up to 100.00% of principal. The issuer estimates the notes' value at approximately $9.64 per $10 principal amount on the pricing date. Payments are subject to issuer and guarantor credit risk and limited secondary-market liquidity.

The Goldman Sachs Group, Inc. is offering $11,685,000 aggregate principal amount of Callable Fixed Rate Notes due May 12, 2031 under a registered offering. The notes pay interest at 5.00% per annum from May 12, 2026, with semiannual payments on May 12 and November 12.

The issuer may redeem the notes in whole, not in part, on each redemption date (each Feb 12, May 12, Aug 12, Nov 12 on or after May 12, 2027) at 100% of principal plus accrued interest, with at least five business days’ prior notice. The initial price to public is 100% and underwriting concession is 0.50%.