Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. priced equity-linked, auto-callable medium-term notes due May 17, 2029 guaranteed by The Goldman Sachs Group, Inc.. The securities are tied to the common stock of Western Digital Corporation and carry a contingent monthly coupon and principal at risk.

The contingent coupon will be at least $20.625 per $1,000 (equivalent to 24.75% per annum) if the stock closing price on a calculation day is ≥ the coupon threshold (60% of the starting price). The downside threshold is 40% of the starting price; if the ending price is below that level at maturity, investors can lose more than 60% (and possibly all) of principal. Original offering price is $1,000 with an estimated value at pricing between $925 and $955 per $1,000. Underwriting discounts may be up to $23.25 per $1,000, leaving proceeds to issuer of $976.75 per $1,000. All payments are subject to issuer and guarantor credit risk.

GS Finance Corp. offers trigger autocallable GEARS linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The notes pay no coupons, may be automatically called on May 18, 2027 and mature on May 15, 2031. Payoff at maturity depends on the final index level versus an initial index level and a downside threshold of 75.00% of the initial level; upside exposure is amplified by an upside gearing of 1.40. The call return is set on the trade date and is expected to be between 10.50% and 11.25%. Estimated value at issuance is expected to be between $9.50 and $9.80 per $10 face amount. Purchases require a minimum face amount of $1,000. Any payment is subject to the issuer's and guarantor's creditworthiness.

The Goldman Sachs Group, Inc. is offering $5,671,000 of Callable Fixed Rate Notes due May 12, 2036 that pay interest at 5.50% per annum from and including the original issue date May 12, 2026 to but excluding the stated maturity date. Interest is payable semiannually on May 12 and November 12, beginning November 12, 2026.

The notes are callable in whole, but not in part, on each redemption date (each Feb 12, May 12, Aug 12, Nov 12 on or after May 12, 2027) at a redemption price equal to 100% of principal plus accrued interest, with at least five business days’ prior notice. The initial price to the public is 100%; underwriting discount is 0.75% and proceeds before expenses to The Goldman Sachs Group, Inc. are $5,628,467.50. The offering is subject to customary distribution and jurisdictional restrictions (EEA, UK, Hong Kong, Singapore, Japan, Switzerland) and FATCA withholding rules.

GS Finance Corp. offers structured notes guaranteed by The Goldman Sachs Group, Inc. The notes reference three index stocks (Dollar Tree, Zillow Class C, Zoom Class A) with initial prices set on May 5, 2026 and a stated maturity of May 10, 2027. Coupons of $49.50 per $1,000 (4.95% quarterly) are payable on each coupon payment date only if the closing price of each index stock on the related observation date is at least 50% of its initial price. Notes are automatically called if, on any call observation date, each index stock’s closing price is greater than or equal to its initial price; auto-call payments equal face amount plus coupon. At maturity, if a trigger event (each final price < initial price) occurs and the lesser performing stock is below 50% of its initial price, the cash settlement will be reduced proportionally and can be significantly less than the face amount. The estimated value on the trade date is approximately $988 per $1,000 face amount.

GS Finance Corp. is offering market-linked, auto-callable medium-term notes (face amount $1,000) due May 18, 2028, linked to the lowest performing common stock of Broadcom Inc. and Microsoft Corporation. The notes pay a monthly contingent coupon (set on the pricing date) of at least $12.292 per $1,000 (approximately 14.75% annualized) if the lowest performing underlying stock on each monthly calculation day is at or above its coupon threshold (60% of its starting price). The securities are subject to automatic call on monthly call dates beginning November 2026 if the lowest performing underlying stock is at or above its starting price; on a call you receive face amount plus a final contingent coupon. If not called, maturity pay‑out depends solely on the lowest performing underlying stock: if its ending price on the final calculation day is at or above the downside threshold (50% of starting price) you receive $1,000; if below, you receive $1,000 multiplied by the performance factor and may lose more than 50% or all principal. Estimated value at pricing is between $925 and $955 per $1,000; original offering price is $1,000 with underwriting discount up to $23.25 and proceeds to issuer $976.75.

GS Finance Corp. is offering callable contingent coupon index-linked notes due May 18, 2029, fully guaranteed by The Goldman Sachs Group, Inc. Each $1,000 note may pay a contingent monthly coupon of $9.375 (0.9375% monthly, up to 11.25% per annum) if each underlier meets its 70% coupon trigger level on the observation date. The cash payment at maturity depends solely on the lesser performing underlier (Nasdaq-100 Technology Sector Index, Russell 2000 and S&P 500), with principal protected only if that underlier is at or above its 60% trigger buffer level; otherwise losses up to the full principal are possible. The issuer may redeem the notes on specified coupon payment dates beginning November 2026. Trade date is May 13, 2026 and original issue date is May 18, 2026. The notes are subject to the credit risk of GS Finance Corp. and its guarantor.

The issuer GS Finance Corp. is offering principal-protected structured notes linked to two ETFs: the VanEck Gold Miners ETF (GDX) and the State Street SPDR S&P Bank ETF (KBE). Each $1,000 face amount may pay a monthly coupon of $11.459 (1.1459% monthly, ~13.75% annual) only if both ETFs close at or above 70% of their initial levels on an observation date. The notes may be automatically called on observation dates beginning November 2026. At maturity (expected Feb 27, 2029), the cash payment depends on the lesser performing ETF versus buffer levels (80% initial). Estimated value on the trade date is $925–$955 per $1,000 face amount. Credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. applies.

GS Finance Corp. is offering $ callable, contingent-coupon, equity-linked notes due May 18, 2028, guaranteed by The Goldman Sachs Group, Inc.. Payments at maturity and contingent quarterly coupons depend on the performance of the underlier, Meta Platforms, Inc. (ticker META), with a coupon trigger and trigger buffer set at 60% of the initial underlier level. Each $1,000 face amount returns $1,000 at maturity if the final underlier level is greater than or equal to the trigger buffer; otherwise the cash settlement equals $1,000 plus $1,000 times the underlier return, which can result in a complete loss of the investment. The notes may be redeemed at issuer option on coupon payment dates commencing in November 2026. Trade date is May 15, 2026 and original issue date is May 20, 2026. The original issue price is 100% of face amount and the underwriting discount is 1.85%.

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. The offering is for 300,000 units at $10.00 per unit (aggregate $3,000,000). Each unit has a $10 principal amount, a Starting Value of $33.62, a Coupon Barrier/Threshold Value of $16.81 (50% of Starting Value), and a Call Value equal to $33.62. A contingent quarterly coupon of $0.78 per unit (31.20% per annum contingent rate) is payable only if the Observation Value on a Coupon Observation Date is ≥ the Coupon Barrier, with a memory feature that accumulates unpaid coupons. The notes are automatically callable if the Observation Value on any Call Observation Date is ≥ the Call Value; if called you receive principal plus the applicable contingent coupon. If not called, at maturity you receive principal unless the Ending Value is below the Threshold Value, in which case you have 1-for-1 downside exposure and may lose up to 100% of principal. The estimated value on the pricing date was approximately $9.75 per $10 unit. The minimum initial purchase is $100,000.

GS Finance Corp. priced a capped, non‑interest bearing, buffer‑protected equity‑linked note tied to the common stock of NVIDIA Corporation (Bloomberg: NVDA UW). For each $1,000 face amount the notes pay $1,200 if automatically called on the call payment date. If not called, maturity payoffs depend on the final underlier level: upside participation is 125%; a 20% buffer applies (buffer level = 80% of the initial level); buffer rate = 100%. Initial underlier level is $211.50. 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. Aggregate face amount sold initially is $2,413,000. Original issue price is 100% of face; underwriting discount 1.75%; net proceeds 98.25%. Notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are cash‑settled. The pricing supplement warns of credit risk of the issuer and guarantor and that investors could lose a substantial portion of their investment if the final underlier level is below the buffer level.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering medium‑term, cash‑settled notes linked to the MSCI EAFE Index. Each $1,000 face amount note pays no interest and returns at maturity either: (1) $1,000 plus 109% of the index gain if the final level > initial level; (2) $1,000 if the final level declines up to 20% (the 80% buffer level); or (3) a reduced cash amount if the final level is more than 20% below the initial level, causing a proportional loss of principal. The trade date is May 7, 2026, original issue date May 12, 2026, determination date May 7, 2029 and stated maturity May 10, 2029 (subject to adjustment). The aggregate initial issue amount shown is $1,090,000, original issue price is 100% of face, underwriting discount 0.6%. Investors bear credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., foreign market and currency risks tied to the MSCI EAFE Index, and tax uncertainty; the notes may have limited liquidity and could result in substantial loss of principal.

GS Finance Corp. priced structured, non-interest-bearing notes linked to three State Street sector ETFs. Each note has a $1,000 face amount, an original issue price of 100% of face and may be automatically redeemed beginning on May 14, 2027 if all three ETFs close at or above their initial levels.

If not called, the maturity payoff on May 14, 2031 depends on the lesser performing ETF: capped upside (maturity premium 172.5%), protection down to 80% of initial levels, and full downside participation below 80% (losses possible, including >50% scenarios shown). Estimated value at issuance was approximately $982 per $1,000.

GS Finance Corp. is offering underlier-linked, principal-at-risk notes due May 20, 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount payoff at maturity that depends on the performance of two underliers: the EURO STOXX 50® Index and the iShares® MSCI Emerging Markets ETF (EEM). If both underliers finish above their initial levels, holders receive the face amount plus 245% × the lesser performing underlier return. If any underlier finishes at or below its initial level but at or above 70% of its initial level, holders receive the face amount. If the lesser performing underlier finishes below 70%, holders suffer losses equal to the lesser performing underlier return × face amount and could lose the entire investment.

GS Finance Corp. pricing supplement: These structured notes pay a fixed coupon of $11 per $1,000 monthly (1.1% monthly / 13.2% per annum) through a stated maturity of November 12, 2027. The notes are automatically called if on any monthly call observation date each index closes at or above its initial level. Principal at maturity is 1:1 linked to the lesser performing of the EURO STOXX 50®, Nasdaq-100® and Russell 2000® indices if a trigger event (any underlier decline > 30% from its initial level) occurs during the measurement period. Estimated value at issuance is approximately $994 per $1,000, original issue price 100%, underwriting discount 0.2%. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering index-linked notes due May 11, 2028 (trade date May 7, 2026) linked to the lesser performing of the S&P 500® Equal Weight Index and the S&P 500® Index. The notes bear no interest and have an aggregate original face amount of $380,000. Payout at maturity depends on the lesser performing index return with a buffer at 75%, a cap at 118%, and a maximum settlement amount of $1,180 per $1,000 face amount. If the lesser performing index falls below the buffer level, holders may lose a substantial portion of principal; if it falls between the buffer and initial level, holders receive the absolute loss as a positive return. The issue price is 100% of face, estimated value at terms-setting was approximately $981 per $1,000, underwriting discount is 1%, and net proceeds to issuer are 99% of face. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering market-linked notes due May 11, 2028. Each note’s coupons and principal depend on the monthly observation prices and the final price of three stocks: Microsoft common stock, StepStone Class A common stock, and an Alibaba ADS (each with an 50% trigger buffer).

Coupons: $15 per $1,000 face amount on qualifying monthly observations (1.5% monthly, up to 18% per annum). At maturity you receive $1,000 per $1,000 if the lesser performing index stock is >= 50% of its initial price; otherwise you receive $1,000 plus the lesser performing index stock return times $1,000. Trade date: May 7, 2026; original issue date: May 12, 2026. The estimated value on the trade date is approximately $981 per $1,000 face amount.

The Goldman Sachs Group, Inc. is offering Callable Zero Coupon Notes due 2051 under its Medium-Term Notes, Series N program. The notes are zero-coupon original-issue-discount securities with an expected stated maturity of May 26, 2051 and an expected original issue date of May 26, 2026. The notes pay no periodic interest; at maturity each $1,000 principal will yield 100.00% (stated yield to maturity 6.50% compounded annually). Goldman Sachs may redeem the notes in whole, but not in part, on scheduled early redemption dates beginning May 26, 2027, at the listed early redemption amounts (for example, $220.60 on May 26, 2027 and $938.98 on May 26, 2050). The notes are unsecured obligations and subject to Goldman Sachs’ credit risk. The pricing supplement states the notes will be issued in book-entry form through DTC and discusses U.S. federal tax treatment (original issue discount) and FATCA withholding.

GS Finance Corp. offers Auto-Callable Trigger PLUS notes linked to the S&P 500® Index due May 20, 2031. The notes pay at least $1,113.00 per $1,000 principal if automatically called (an 11.30% call payment) on the call observation date, otherwise pay at maturity based on a 140.00% leverage factor for positive index returns, return of principal if the final index value is at or above a 75.00% downside threshold, or a reduced payment (pro rata to index performance) if the final index value is below that threshold.

The offering is priced in mid‑May 2026, the issuer bears credit risk, and the estimated value range at pricing is $915 to $975 per $1,000 principal amount. Underwriting discount is 1.40%.

GS Finance Corp. is offering autocallable contingent coupon index-linked notes due June 5, 2029, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and a contingent monthly coupon of 0.9375% (up to 11.25% per annum) payable only if each underlier meets a 70% coupon trigger on observation dates. The notes reference the Nasdaq-100, Russell 2000 and EURO STOXX 50 indices, are subject to an automatic call on observation dates if each underlier is at or above its initial level, and at maturity pay an amount tied to the lesser performing underlier (subject to a 70% trigger buffer). These notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by Goldman Sachs, carry issuer and guarantor credit risk, and can result in a total loss of principal if the lesser performing underlier declines sufficiently.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, non‑interest bearing notes linked to the S&P 500® Futures Excess Return Index. Each $1,000 face amount note (original issue price 100%) pays at maturity either $1,000 or $1,000 plus 135% of the underlier return, measured from May 7, 2026 to May 7, 2031, with stated maturity on May 12, 2031.

The notes bear issuer and guarantor credit risk, have no coupon, may trade illiquidly, and their market value can be materially affected by futures roll yields, interest rates and the calculation agent’s determinations. Taxes and secondary‑market commissions may affect net returns.

GS Finance Corp. priced an offering of Autocallable Contingent Coupon Equity-Linked Notes linked to the common stock of NVIDIA Corporation. The notes pay a contingent monthly coupon of $10.209 per $1,000 (1.0209% monthly; potential ~12.25% per annum) when the underlier is at or above a 60% coupon trigger on observation dates. The notes are autocallable if NVIDIA’s closing level is greater than or equal to the initial level on any call observation date; if not called, maturity settlement on June 24, 2027 depends on the final underlier level relative to a 60% trigger buffer, which can result in a total loss of principal. Trade date is May 21, 2026 and original issue date is May 27, 2026. The notes are senior debt of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and subject to issuer and guarantor credit risk.

GS Finance Corp. is offering medium-term structured notes linked to the MSCI EAFE Index with an aggregate face amount of $2,000,000. The notes pay no interest and mature on May 12, 2031. At maturity the cash payment per $1,000 face equals either $1,000 + ($1,000 × the upside participation rate × underlier return) if the final underlier level is above the initial level, or $1,000 + ($1,000 × the underlier return) if the final underlier level is equal to or below the initial level. The disclosed upside participation rate is 142.6%. The notes can lose principal if the MSCI EAFE index declines; holders may lose their entire investment. Original issue price is 100% of face amount; underwriting discount is 3%, net proceeds to issuer 97%. 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.

The offered notes are Autocallable Contingent Coupon Index-Linked Notes due November 27, 2028, issued by GS Finance Corp. and fully guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of 0.9167% ($9.167 per $1,000) when each underlier is at or above its coupon trigger level (70% of its initial level). The notes are automatically called if, on any call observation date, each underlier is at or above its initial level; if not called, the cash settlement at maturity for each $1,000 depends solely on the lesser performing underlier and can result in a loss of principal (including up to 100% of the investment). Trade date is May 21, 2026 and original issue date is May 27, 2026.

GS Finance Corp. is offering $ Buffered Digital S&P 500Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the S&P 500 performance measured from the trade date to the determination date. For each $1,000 face amount, the maximum settlement amount is $1,096. The notes feature a 20% buffer (buffer level = 80% of the initial index level) and a buffer rate of 125%; if the final index level is below the buffer level the holder loses 1.25% of face amount per 1% decline below the buffer level and could lose the entire investment. Trade date is May 11, 2026, original issue date May 14, 2026, determination date August 11, 2027 and stated maturity date August 16, 2027. These notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to the issuer's and guarantor's credit risk.

GS Finance Corp. offers principal-protected but conditionally indexed medium-term notes guaranteed by The Goldman Sachs Group, Inc. The notes have an aggregate face amount of $1,326,000 and pay no interest. They include an automatic call on the call observation date if the S&P 500 (the underlier) closes at or above the initial level, in which case each $1,000 face amount pays $1,095 on the call payment date. If not called, the cash settlement at stated maturity depends on the final underlier level: investors may receive upside participation at 125% if the final level is above the initial level, receive principal ($1,000) if the final level is at or above the 90% buffer, or incur losses tied to the buffer structure if the final level is below the 90% buffer. The notes were priced at 100% of face with a 1.75% underwriting discount (net proceeds 98.25%). Key dates include trade date 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 date May 11, 2028. The prospectus discloses model-derived estimated values below the issue price, secondary-market liquidity is not assured, and investors bear the credit risk of the issuer and guarantor.

The issuer, GS Finance Corp., is offering leveraged EURO STOXX 50® Index-linked notes due May 28, 2031 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.. Each note has a face amount of $1,000 and pays no interest. Payment at maturity depends on the EURO STOXX 50 performance: if the final level is above the initial level you receive 170.4% participation in upside; if the final level is between 75% and the initial level you receive the face amount; if below 75% you suffer proportional losses to principal, potentially losing your entire investment. The trade date is May 22, 2026 with original issue date May 28, 2026. The notes are subject to issuer and guarantor credit risk, uncertain tax treatment, limited liquidity, and model-driven pricing where the original issue price exceeds the estimated value as determined by GS&Co.'s pricing models.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) offers structured notes linked to Alphabet Inc. Class C ("GOOG UW") with an aggregate face amount of $2,129,000. The notes pay a contingent monthly coupon of $10.542 per $1,000 (1.0542% monthly, up to ~12.65% per annum) when the underlier meets the 70% coupon trigger on observation dates and include an automatic call 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 depends on the final underlier level: if the final level is ≥ the 70% trigger buffer, you receive $1,000; if below, you receive $1,000 × (1 + underlier return), exposing investors to the full downside of the underlier (you could lose your entire investment). The notes are issued at 100% of face amount with a 0.65% underwriting discount (net proceeds 99.35%).

GS Finance Corp. priced Buffered S&P 500® Index‑Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes have an original issue price of $1,000 per $1,000 face amount, a 15% buffer (buffer level = 85%) and a stated maximum upside settlement amount of at least $1,175 per $1,000 face amount. The trade date is May 20, 2026, original issue date May 26, 2026, determination date May 22, 2028 and stated maturity date May 25, 2028. The notes pay no interest; returns at maturity are linked to the S&P 500® Index performance and are subject to a cap, a buffer mechanic and the credit risk of the issuer and guarantor. The original issue price exceeds the notes’ estimated model value and the underwriting discount is 2.25%.

GS Finance Corp. is offering non‑interest notes linked to the common stock of Vistra Corp. The notes pay at maturity either a capped $1,300 per $1,000 face amount if the final stock price is >= 63.5% of the initial price, or a loss equal to the stock return if the final price declines by more than 36.5%. The expected trade date is May 15, 2026, the expected original issue date is May 20, 2026, the expected determination date is November 15, 2027 and the expected stated maturity is November 18, 2027. The prospectus discloses an estimated value range of $925–$955 per $1,000 face amount at pricing and highlights credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., the calculation agent’s discretion (GS&Co.), limited anti‑dilution protections, potential lack of a secondary market and uncertain U.S. tax treatment.

GS Finance Corp. is offering autocallable S&P 500® index-linked notes, expected to trade on May 11, 2026 with an original issue date expected to be May 14, 2026. The notes pay no interest and may be automatically redeemed on the call observation date if the S&P 500 closing level is at or above the initial index level of 7,398.93, producing a capped cash payment of $1,110.5 per $1,000 face amount on the call payment date. If not called, the payment at maturity (stated maturity expected November 12, 2027) is linked to index performance from the initial index level to the determination date (expected November 8, 2027): upside participation is 100%, a trigger buffer equals 80% of the initial level, and losses exceed the buffer on a one-for-one basis, meaning investors could lose up to the full principal. The estimated value on the trade date is stated as $925–$955 per $1,000 face amount and the issue price is shown as 100% of face amount.

GS Finance Corp. is offering Autocallable Contingent Coupon (with Memory) Barrier Notes linked to the Class A common stock of Coinbase Global, Inc., due approximately May 2027. Each unit has a $10 principal amount and will pay quarterly contingent coupons if the Observation Value is at or above a 50% Coupon Barrier. The notes are automatically callable if the Observation Value on any Call Observation Date is at or above the Starting Value and, if not called, expose holders at maturity to 1-to-1 downside below a 50% Threshold Value (up to 100% principal at risk). The contingent coupon per quarter will be set on the pricing date between $0.625 and $0.675 per unit (equal to a contingent annual rate between 25.00% and 27.00%). Payments depend on the performance of Coinbase stock and are subject to the credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc. The estimated value at pricing is between $9.25 and $9.55 per $10 principal amount, below the public offering price, and the minimum initial purchase is $100,000.

GS Finance Corp. offers $ Buffered S&P 500® Index-Linked Notes due 2027 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the cash payment at maturity for each $1,000 face amount depends on S&P 500 performance measured from the trade date to the determination date, subject to a 10% buffer and a maximum upside settlement amount of at least $1,100. If the final index level is above the initial level, investors receive the index return up to the cap. If the final level falls by 10% or less, investors receive the absolute value of the decline as a positive payoff. If the final level falls by more than 10%, investors suffer proportional losses to principal. Trade date is May 20, 2026, original issue date May 26, 2026, determination date July 20, 2027, and stated maturity July 23, 2027. The original issue price equals 100% of face; underwriting discount is 2% (net proceeds 98%).

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk, non-interest bearing indexed notes linked to an equally weighted basket of five stocks (AMD, Alphabet Class C, Broadcom, Intel, NVIDIA). The notes measure performance from the expected trade date of May 15, 2026 to the expected determination date of May 15, 2028 and mature expectedly on May 18, 2028. For each $1,000 face amount, payments are capped at a maximum settlement amount of $1,320, protected as a positive payment if the final basket level declines by up to 40% (the trigger buffer level is 60% of the initial basket level), but losses occur if the final basket level declines by more than 40% (you could lose your entire investment). The estimated value at pricing is between $900 and $930 per $1,000 face amount. Credit risk is the issuer’s and guarantor’s; GS&Co. is the calculation agent with discretionary adjustment authority.

GS Finance Corp. intends to offer principal-protected contingent coupon notes tied to an American depositary share of Alibaba Group Holding Limited (each ADS represents eight ordinary shares). The notes have a $1,000 face amount per note, an expected trade date of May 29, 2026, an expected original issue date of June 3, 2026, and an expected stated maturity date of July 2, 2027.

The notes pay a monthly contingent coupon equal to $9.167 per $1,000 (0.9167% monthly, up to approximately 11% per annum) only on coupon payment dates when the index stock closing price is at least 60% of the initial index stock price. The notes will be automatically called if on any call observation date the closing price of the ADS is greater than or equal to the initial index stock price; at maturity, if the final index stock price is below 60% of the initial index stock price, principal repayment is reduced pro rata by the index stock return.

GS Finance Corp. is offering autocallable contingent coupon ETF-linked notes due May 30, 2029, fully guaranteed by The Goldman Sachs Group, Inc.. Each note has a $1,000 face amount and pays a contingent monthly coupon of $11.542 per $1,000 (1.1542% monthly, potential ~13.85% annually) subject to the automatic call feature. Coupons are paid only if each underlier closes at or above its coupon trigger level (70% of its initial level) on the coupon observation date. The notes will be automatically called and redeemed at $1,000 per $1,000 if, on any call observation date, every underlier closes at or above its initial underlier level. If not called, the cash settlement at maturity depends solely on the lesser performing underlier: if that underlier’s final level is below its trigger buffer level (50% of initial), investors can suffer substantial loss, including a possible loss of the entire investment.

GS Finance Corp. is offering Autocallable Equity-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of Broadcom Inc. The notes pay no interest, can be automatically called on annual observation dates, and provide a capped maturity payoff with a 21.30% maturity premium amount.

Key economic terms set on the trade date: May 22, 2026 trade date, May 28, 2026 original issue date, determination date May 22, 2029, stated maturity May 25, 2029. Call premium amounts are 7.1% (first call) and 14.2% (second call). The underlier ticker: AVGO UW.

GS Finance Corp. is offering Autocallable Goldman Sachs Momentum Builder® Focus ER Index‑Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, participate 100% in positive index returns and include annual automatic call features with call premiums ranging from 12.75% (first call) to 51.00% (fourth call). If not called, principal at maturity depends on index performance; negative or zero index return yields repayment of the $1,000 face amount only. The index applies a 0.65% p.a. deduction and volatility/momentum controls that can shift exposure to hypothetical cash positions.

The trade date is May 19, 2026, original issue date May 22, 2026, and stated maturity May 22, 2031. GS&Co. estimates the notes' value on the trade date at $886 to $926 per $1,000 face amount.

GS Finance Corp. offers indexed, capped structured notes linked to PepsiCo, Philip Morris International and Salesforce common stock. The notes have a $1,000 face amount per note, expected trade date May 21, 2026, expected original issue date May 26, 2026 and expected stated maturity May 23, 2029. Coupons may be paid monthly only if each index stock closes at or above 50% of its initial price on each monthly observation date; final cash at maturity depends on the lesser performing index stock and may result in principal loss below 50% of face. The calculation agent is Goldman Sachs & Co. LLC, estimated value at pricing is between $925 and $965 per $1,000 face amount, and initial index stock prices will be set on May 20, 2026.

GS Finance Corp. is offering Leveraged Buffered S&P 500® Index-Linked Notes due 2027, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® Index with key terms set on the trade date and final payment determined on the determination date.

Under the terms, each $1,000 face amount pays at maturity either (a) $1,000 plus $1,000 times a 125% upside participation of the index return capped at $1,105; (b) $1,000 plus $1,000 times a 125% downside participation of the absolute index decline if the final level is no more than 10% below the initial level (buffer); or (c) a loss equal to 1% of face amount for each 1% the index is below the 90% buffer level. Trade date is May 11, 2026, original issue date May 14, 2026, determination date August 11, 2027, and stated maturity August 16, 2027.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering autocallable contingent coupon index-linked notes due 2029. Each note has a $1,000 face amount and may pay a contingent quarterly coupon of $26 (2.6% per quarter, up to 10.40% per annum) if each underlier meets a 70% coupon trigger on observation dates. The notes are linked to the Nasdaq-100, Russell 2000 and S&P 500 indices, include an automatic call feature if all underliers are at or above initial levels on a call observation date, and repay at maturity based solely on the performance of the lesser performing underlier on the determination date (May 8, 2029), which can result in a total loss of principal. Trade date is May 8, 2026 and original issue date is May 13, 2026. The original issue price is 100% and the underwriting discount is 1.85%, with net proceeds of 98.15% of face amount.

GS Finance Corp. priced a series of autocallable, index-linked medium-term notes due May 20, 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on the call payment date if each underlier closes at or above its initial level, and otherwise pay at maturity an amount tied to the lesser performing underlier.

Key economics shown: automatic call payment of $1,120 for each $1,000 face amount if called; an upside participation rate of 115%; underliers are the Nasdaq-100, Russell 2000 and S&P 500. Trade date is May 15, 2026 and original issue date is May 20, 2026. Certain dates and amounts are subject to adjustment as described in the general terms supplement.

GS Finance Corp. is offering Autocallable Contingent Coupon Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $7.50 per $1,000 if each underlier is ≥ 70% of its initial level on observation dates and will be automatically called if each underlier is ≥ its initial level on any call observation date. If not called, principal at maturity is tied to the performance of the lesser performing underlier (Nasdaq-100, Russell 2000, S&P 500), and a final shortfall can result in loss of principal (example: a 17% final level would produce a 17% cash settlement, implying an 83% loss on face amount).

The Goldman Sachs Group, Inc. is offering Callable Zero Coupon Notes due 2041 as part of its Medium-Term Notes, Series N program. Trade date is expected to be May 21, 2026 with original issue date expected May 26, 2026 and stated maturity expected May 26, 2041. The notes carry a stated yield to maturity of 6.00% and are zero-coupon (original issue discount) securities issued in $1,000 denominations. The issuer may redeem the notes in whole (but not in part) on specified early redemption dates; early redemption amounts run from 49.698% (cash $496.98 per $1,000 on May 26, 2029) up to 94.341% (cash $943.41 per $1,000 on May 26, 2040). The notes are unsecured obligations subject to Goldman Sachs' credit risk, do not pay periodic interest, and are issued in book-entry form through DTC. The pricing supplement states an illustrative initial price to public of 41.727% (per note) and a projected total OID of $582.73 per $1,000 at maturity based on the accrual table.

GS Finance Corp. offers market-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay at maturity an amount tied to an unequally weighted basket of five equity indices, with an initial underlying basket level of 100, a participation rate of 100.00% and an expected cap level between 133.00% and 138.25%, producing an expected maximum settlement amount between $1,330.00 and $1,382.50 per $1,000 face amount. The notes repay principal at maturity if the final underlying basket level is at or below the initial level; positive returns are subject to the participation rate and the cap. Key dates are an expected trade date of May 20, 2026, original issue date May 26, 2026, determination date May 22, 2029 and stated maturity date May 25, 2029 (all dates expected and subject to postponement). Payments are unsecured obligations of GS Finance Corp. and depend on the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering leveraged buffered notes linked to the S&P 500® Futures Excess Return Index with a 214% upside participation rate, a 10% buffer (buffer level 90%), trade date May 29, 2026, original issue date June 3, 2026 and stated maturity June 3, 2031. Payment at maturity depends on the underlier return versus the initial level: investors receive upside participation if the final level is above the initial level, the face amount if the final level is within the 10% buffer, or a pro rata loss if the final level is below the buffer. The notes pay no interest, are cash-settled per $1,000 face amount, and are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc. The offering price exceeds the notes' estimated model value; the prospectus discloses underwriting discounts, limited secondary-market liquidity, and material issuer/guarantor credit risk.

GS Finance Corp. offers non-interest bearing, principal-protected structured notes (guaranteed by The Goldman Sachs Group, Inc.) linked to an ADS of Taiwan Semiconductor Manufacturing Company Limited (each ADS represents five common shares). For each $1,000 face amount, the notes pay the maximum settlement amount of $1,308.5 at maturity if the final ADS price on the determination date is greater than or equal to the initial ADS price; otherwise holders receive $1,000. Trade date is expected to be May 26, 2026, original issue date expected May 29, 2026, determination date expected May 29, 2029, and stated maturity expected June 1, 2029. The estimated value at pricing is between $925 and $965 per $1,000 face amount. The notes do not pay interest, are unsecured obligations subject to the issuer’s and guarantor’s credit risk, have a cap on upside, and may have limited secondary market liquidity.

GS Finance Corp. is offering non‑interest, equity‑linked notes tied to the common stock of Vistra Corp.. The initial index stock price is $153.95 (set May 7, 2026). The notes mature on November 12, 2027 with a determination date expected November 8, 2027.

For each $1,000 face amount, holders receive $1,365 if the final index stock price is ≥70% of the initial price; otherwise the cash payment equals $1,000 plus $1,000 times the index stock return, which can result in a loss of principal (including a total loss). The estimated value at pricing is between $925 and $955 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering structured, equity‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes reference three stocks: IBM, T-Mobile US and Capital One, with initial index prices set on May 7, 2026. Coupons of $32.5 per $1,000 (3.25% quarterly) are payable only if all three stocks trade at or above 60% of their initial prices on each coupon observation date. The notes may be automatically called on scheduled observation dates beginning in August 2026, and mature on or about May 12, 2027. At maturity holders receive either the face amount plus any final coupon if no trigger event occurs, or, if a trigger event occurs, a cash settlement linked to the performance of the lesser performing index stock that may result in a substantial loss of principal. The estimated value at pricing is between $925 and $955 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable range‑accrual notes due May 11, 2033. The offering covers $4,500,000 aggregate principal (initial issue) of notes with a $1,000 principal denomination. Interest is paid quarterly beginning August 2026; the first four quarters pay 7.90% per annum. Thereafter each quarterly rate equals 7.90% times the fraction of reference dates in the period when the 10‑year CMT rate is within the trigger range of 0.00% to 5.25%; if no reference dates fall inside that range for a period, no interest is payable for that quarter. The issuer may redeem the notes in whole (but not in part) at 100% of principal plus accrued interest on any quarterly interest payment date on or after May 2027. The estimated model value at pricing was approximately $972.5 per note and the original issue price was 100.00% of principal.