Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering indexed, auto-callable monthly coupon notes linked to the EURO STOXX 50®, Nasdaq-100® and Russell 2000® underliers. The notes pay a fixed monthly coupon of $11 per $1,000 face amount (1.1% monthly, up to 13.2% per annum), are expected to trade on May 7, 2026, have an original issue date expected to be May 12, 2026, and a stated maturity expected to be November 12, 2027. The notes will be automatically called (full redemption plus coupon) if, on any call observation date, the closing level of each index is greater than or equal to its initial level (initial levels set on May 6, 2026). A trigger event occurs if any index closes below 70% of its initial level on any trading day during the measurement period; if a trigger event has occurred and the notes are not called, maturity proceeds (plus final coupon) will be based one-for-one on the percentage return of the lesser performing underlier, potentially causing a partial or total loss of principal. The estimated model value on the trade date is between $925 and $955 per $1,000 face amount.

The Goldman Sachs Group, Inc. offers Callable Fixed Rate Notes due 2027 under a pricing supplement to its Medium‑Term Notes, Series N program. The notes pay interest at 4.00% per annum, accrue from an original issue date expected to be May 21, 2026, and mature on July 21, 2027. Interest payment dates are expected to be November 21, 2026, May 21, 2027, and July 21, 2027. The issuer may redeem the notes in whole, but not in part, on redemption dates expected to be November 21, 2026, February 21, 2027, and May 21, 2027, at 100% of principal plus accrued interest with at least five business days’ notice. The notes will be issued in book‑entry form through DTC and may be sold initially by Goldman Sachs & Co. LLC. FATCA withholding and various cross‑border offering restrictions (EEA, UK, Hong Kong, Singapore, Japan, Switzerland) apply.

GS Finance Corp. is offering contingent income auto-callable securities linked to Microsoft Corporation stock due May 18, 2029. These unsecured notes, guaranteed by The Goldman Sachs Group, Inc., may pay a contingent quarterly coupon (at least $23.25 per $1,000 accrual basis) only when the underlying stock closes at or above a downside threshold set at 70.00% of the initial share price on each coupon observation date. The securities are automatically called and redeemed for principal plus any then-due coupon if the underlying stock closes at or above the initial share price on a call observation date. If not called and the final share price is below the downside threshold, investors absorb losses on a 1:1 basis and may lose a significant portion or all principal. The preliminary estimated value range is $915 to $975 per security; underwriting discount is 2.25% and Morgan Stanley Wealth Management receives a selling concession of $22.50 per security.

GS Finance Corp. offers contingent income auto-callable securities linked to the common stock of NVIDIA Corporation due May 18, 2029. The securities pay a contingent quarterly coupon (at least $27.75 per $1,000 coupon schedule, set at pricing) only if the underlying stock's closing price on coupon observation dates is at or above a downside threshold equal to 50.00% of the initial share price. The securities are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., may be automatically called early if the underlying stock closes at or above the initial share price on any call observation date, and expose holders to loss of principal on a 1:1 basis if the final share price is below the downside threshold.

Pricing is expected on or about May 15, 2026 with original issue date expected May 20, 2026. The issuer estimates an estimated value range of $910 to $970 per security and an underwriting discount of 2.25%. The offering includes dealer concessions of $22.50 per security (Morgan Stanley Wealth Management) and an internal structuring fee allocation of $5.00. Payment at maturity depends on the final share price; if final share price < downside threshold, payment = $1,000 × (final/initial), which could be zero.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering $1,000‑denominated autocallable contingent coupon equity‑linked notes linked to the common stock of NVIDIA Corporation ("NVDA"). The notes pay a contingent monthly coupon of $11.834 per $1,000 (1.1834% monthly, up to ~14.20% per annum) when the underlier closes at or above 60% of the initial underlier level on a coupon observation date. The notes will be automatically called if the underlier closes at or above the initial underlier level on any call observation date. If not called, the cash settlement at maturity on April 24, 2028 depends on the final underlier level versus a 60% trigger buffer: cash repayment may be as low as 0% (loss of principal) or capped at 100% of face amount. The trade date is May 14, 2026 and original issue date is May 19, 2026. This pricing supplement emphasizes structural, market and issuer credit risks and notes that the original issue price exceeds the estimated model value.

GS Finance Corp. is offering callable, indexed notes linked to the S&P 500® Index, the Russell 2000® Index and the State Street® Consumer Staples Select Sector SPDR® ETF (XLP). The notes have monthly coupon tests: if each underlier's closing level on a coupon observation date is ≥ 70% of its initial level, the coupon equals $9.167 per $1,000 (0.9167% monthly, ~11% annualized). Observation dates are expected monthly (13th) from June 2026 through May 2031; call observation dates commence in August 2026. The notes will be automatically called (full redemption plus coupon) if on any call observation date each underlier is ≥ its initial level. If not called, maturity is expected May 16, 2031; the cash settlement at maturity depends solely on the lesser performing underlier, with a 70% trigger buffer (70% = no principal loss). If any underlier finishes below 70% of its initial level, principal is reduced pro rata to the lesser performing underlier return. Estimated value at pricing is stated between $885 and $925 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor).

GS Finance Corp. is offering senior medium-term notes—Market Linked Securities—linked to the S&P 500® Index with a 300% upside participation rate and a capped maximum return to be set on the pricing date (at least 14.50%). The securities have a face amount of $1,000 per security, a pricing date of May 28, 2026, an original issue date of June 2, 2026 and a stated maturity date of August 2, 2027. Investors receive no interest; the maturity payment depends on the index performance from the starting level to the ending level on the calculation day and may result in loss of some or all principal. The estimated value at pricing is between $925 and $955 per $1,000 face amount. Underwriting discount is up to $20.25 per security, leaving proceeds to the issuer of $979.75 per security.

GS Finance Corp. is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER with an expected trade date of May 15, 2026 and an expected stated maturity of May 22, 2031.

The notes bear no interest, are subject to automatic redemption on specified call observation dates if the underlier is ≥ 90% of the initial level, and pay a capped maximum settlement of $2,037.52 per $1,000 face amount at maturity if not called. The underlier applies a fixed per‑annum decrement of 6.0% (deducted daily) and may use leverage up to 500%. The pricing models imply an estimated value at pricing of between $885 and $925 per $1,000 face amount.

GS Finance Corp. is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, with an expected trade date of May 19, 2026 and stated maturity expected to be May 22, 2031. Coupons of $12.50 per $1,000 (1.25% monthly; up to 15% per annum) are payable on monthly coupon payment dates only if the index closing level on the related coupon observation date is at least 50% of the initial underlier level. The index applies volatility-targeted leverage (maximum exposure 500%), a cap on daily leverage change (100%), and a daily 6.0% per annum decrement. Notes are subject to automatic redemption if the index on any quarterly call observation date is greater than or equal to the initial underlier level; otherwise, maturity payment is based on the underlier return, which can result in substantial losses, including loss of principal. The estimated value at pricing is stated between $885 and $925 per $1,000 face amount.

GS Finance Corp. is offering principal‑at‑risk, non‑interest bearing notes linked to the common stock of Vistra Corp. For each $1,000 face amount, the notes pay $1,300 at maturity if the final stock price is at least 61.25% of the initial price set on the trade date.

If the final stock price falls below that threshold, the cash payment equals $1,000 plus $1,000 times the index stock return, exposing holders to full downside (you could lose your entire investment). Trade date is expected to be May 15, 2026, determination date November 15, 2027, and stated maturity November 18, 2027. The estimated value at term‑setting is between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering Buffered Digital S&P 500® Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash payment at maturity tied to the S&P 500 performance from May 14, 2026 (trade date) to May 14, 2031 (determination date). If the final index level is ≥ the buffer level (80% of the initial level), each $1,000 note pays the maximum settlement amount of $1,421. If the final level is below the buffer level, the holder loses 1% of face amount for every 1% the index is below the buffer, exposing investors to potential substantial principal loss. The notes are unsecured senior obligations of the issuer, are fully guaranteed by The Goldman Sachs Group, Inc., and are subject to the issuer's and guarantor's credit risk.

GS Finance Corp. is offering structured notes guaranteed by The Goldman Sachs Group, Inc., linked to the common stock of Microsoft Corporation, Class A common stock of StepStone Group Inc., and an ADS of Alibaba Group Holding Limited. The notes have an expected trade date of May 7, 2026, an original issue date expected to be May 12, 2026, and an expected stated maturity date of May 11, 2028.

The notes pay contingent monthly coupons of $15 per $1,000 face amount (1.5% monthly, up to 18% per annum) only if on each coupon observation date the closing price of each index stock is >= 50% of its initial price. At maturity the cash settlement amount is determined by the performance of the lesser performing index stock versus its trigger buffer price (50% of initial price). If the lesser performing index stock falls below that buffer, the holder will suffer a loss proportional to that index stock return.

The estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and GS&Co. will act as calculation agent with related discretions.

The Goldman Sachs Group, Inc. is offering fixed and floating rate senior notes due July 22, 2027 with a fixed rate of 4.10% per annum through December 22, 2026 and a thereafter floating rate of compounded SOFR plus a 0.40% spread (floored at 0.00%), payable monthly and issued in minimum denominations of $1,000.

The notes are unsecured obligations of Goldman Sachs, not FDIC insured, not listed, non‑redeemable, subject to issuer credit risk, and will use GS&Co. as calculation agent with discretion to determine compounded SOFR and benchmark replacements. Tax treatment: treated as variable rate debt for U.S. federal income tax purposes.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal‑protected‑style, non‑interest bearing callable notes linked to three State Street sector ETFs. The notes are expected to trade on May 7, 2026, have an original issue date expected to be May 14, 2026, and a stated maturity expected to be May 14, 2031. The notes may be automatically called beginning with a call observation date on May 14, 2027 if each ETF’s closing level is at or above its initial level; call payments are capped by the applicable call premium. At maturity (if not called) the payment per $1,000 face amount depends on the performance of the lesser performing ETF: up to $1,725 if all ETFs finish at or above their initial levels, $1,000 if all final levels are at or above 80% of initial levels, and a downside formula if the lesser performing ETF declines below 80%. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor. The estimated value on the trade date is between $885 and $925 per $1,000 face amount.

GS Finance Corp. is offering Leveraged Buffered Basket-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes reference a weighted basket of five indices with an initial basket level of 100, an upside participation rate of 150%, a buffer level of 90% and a cap level of 118%. If the final basket level exceeds the initial level, holders receive 1.5× the basket return subject to a maximum settlement amount of $1,270 per $1,000 face amount. If the final basket level declines by up to 10%, holders receive the face amount; below a 10% decline, holders suffer a proportional loss. The trade date is expected to be May 22, 2026 and stated maturity is expected to be May 25, 2028. The notes do not pay interest and are subject to the issuer and guarantor credit risk; the estimated value on the trade date is between $925 and $965 per $1,000 face amount.

The issuer, GS Finance Corp., is offering Medium-Term Notes, Series F—market linked, auto-callable securities guaranteed by The Goldman Sachs Group, Inc. The securities have a $1,000 face amount, pricing date May 15, 2026, original issue date May 20, 2026 and stated maturity May 18, 2029. Payments (quarterly contingent coupons of at least $27.50, equivalent to 11.00% per annum, if earned) and any maturity amount depend solely on the lowest performing of the S&P 500®, Russell 2000® and Nasdaq-100® underliers. Coupon and downside threshold levels equal 75% of each starting level. If not auto-called and the lowest performing underlier finishes below its downside threshold, holders can lose more than 25%, potentially the entire principal. Estimated value at pricing is between $925 and $955 per $1,000 face amount; original offering price is $1,000.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due May 11, 2029, fully guaranteed by The Goldman Sachs Group, Inc.. The notes reference the common stock of NVIDIA Corporation (Bloomberg: NVDA UW) and pay a contingent monthly coupon of $12.50 per $1,000 (1.25% monthly, 15.00% annually) only if the underlier is at or above 60% of the initial underlier level on each coupon observation date.

The notes are subject to automatic call on observation dates if the underlier is at or above the initial level, in which case holders receive $1,000 per $1,000 plus any coupon then due. At maturity, if not called, holders receive $1,000 per $1,000 if the final underlier level is at or above the 50% trigger buffer; if below that buffer the cash settlement equals $1,000 multiplied by the underlier return, and investors may lose their entire investment.

GS Finance Corp. is offering leveraged buffered notes linked to the Nasdaq-100 Index with a trade date of May 29, 2026, an original issue date of June 3, 2026 and a stated maturity of June 1, 2029. Each note has a $1,000 face amount and pays no interest.

At maturity the cash payment per $1,000 depends on the underlier return: upside participation is 115% capped at a $1,432.50 maximum settlement amount; a 15% buffer (buffer level = 85%) protects principal only up to that decline; losses occur if the final underlier level falls below the buffer.

GS Finance Corp. offers callable S&P 500® Futures Excess Return Index‑linked notes due May 20, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the E‑mini S&P 500 futures return, carry an upside participation rate of 205%, and include a trigger buffer of 60%. The issuer may redeem the notes on monthly call payment dates beginning in May 2027 through April 2031 at 100% of face plus a specified call premium. If not redeemed, maturity payoff per $1,000 face depends on the underlier return from the trade date (expected May 15, 2026) to the determination date (expected May 6, 2031): gains are multiplied by 205%, flat outcomes occur if the final level is ≥60% of initial level, and losses can result in a total loss of principal. The estimated value on the trade date is expected between $885 and $935 per $1,000 face amount. Credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., negative roll yields for futures, market disruption and tax‑treatment uncertainty are highlighted.

GS Finance Corp. is offering medium-term, equity-index‑linked notes due December 3, 2029 with a face amount of $1,000 per note. The notes link to an equally weighted basket (50% S&P 500®, 50% EURO STOXX 50®), repay principal at maturity and provide 100% upside participation subject to a at least 25.20% maximum return (minimum maximum maturity payment of $1,252). The estimated value on the pricing date is between $900 and $930 per $1,000 face amount. Original offering price is $1,000 with an underwriting discount up to 3.325% (up to $33.25), leaving proceeds to issuer of $966.75 per note. Payments are subject to issuer and guarantor credit risk; there are no periodic interest payments and no exchange listing.

GS Finance Corp. is offering autocallable notes linked to the EURO STOXX® Banks Index, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have a participation rate of 150%, may be automatically called between 12 and 14 months, and otherwise mature at an expected ~24 months. If called, cash paid per $1,000 face amount is set between $1,193.3 and $1,226.8. At maturity, holders receive (i) $1,000 plus 1.5× index gain if the final level is higher, (ii) $1,000 if the final level is down but not below 60% of the initial level, or (iii) a loss proportional to the index decline if the final level is below the 60% trigger buffer (investors could lose their entire investment). The estimated value on the trade date is between $940 and $970 per $1,000 face amount.

GS Finance Corp. is offering notes (aggregate face amount $1,056,000) linked to the Goldman Sachs Momentum Builder® Focus ER Index with an automatic call feature and a stated maturity of May 9, 2033. The notes pay either an automatic call payment (capped call premiums that increase each year) or, if not called, a cash settlement at maturity that returns $1,000 plus upside participation—100% participation of positive index return—or only the face amount if the index return is zero or negative. The notes do not pay interest and are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The estimated value on the trade date was $899 per $1,000 face amount; original issue price equals face amount with a 4.25% underwriting discount. Key dates include trade date May 4, 2026, original issue date May 7, 2026, determination date May 2, 2033 and stated maturity May 9, 2033. Prospective purchasers should review the index methodology, volatility and momentum controls, the 0.65% per annum index deduction, credit risk of issuer/guarantor, and tax treatment described herein.

GS Finance Corp. is offering medium-term, equity index linked notes due May 31, 2030 that are linked to the Nasdaq-100 Index®. Each note has a $1,000 face amount and pays at maturity either the face amount or the face amount plus a positive return equal to 100% participation in the underlier's increase, subject to a maximum return of at least 28.10% (maximum maturity payment at least $1,281). The notes repay principal at maturity (subject to issuer and guarantor credit risk), pay no periodic interest and are designed to be held to maturity.

The pricing date is May 28, 2026, the original issue date is expected to be June 2, 2026, and the calculation day is May 28, 2030. The estimated value at pricing is stated as between $900 and $930 per $1,000 face amount; the original offering price is $1,000, with underwriting discounts up to $38.25 per note. All payments are subject to GS Finance Corp. and The Goldman Sachs Group, Inc. credit risk.

GS Finance Corp. offers Autocallable Contingent Coupon Index-Linked Notes due May 11, 2029 guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $8.209 per $1,000 (0.8209% monthly, up to ~9.85% per annum) if each underlier meets its coupon trigger (60% of initial level) on observation dates. The notes are automatically called on quarterly call observation dates if each underlier is at or above its initial level; if not called, the cash settlement at maturity is based solely on the performance of the lesser performing underlier, with potential loss of principal down to 0% of face. Trade date is May 8, 2026 and original issue date is May 13, 2026. The underliers are the Dow Jones Industrial Average, Nasdaq-100 and Russell 2000. Pricing, underwriting discounts and estimated value disclosures are set forth in the supplement and the accompanying prospectus; the notes are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering $1,000-face, autocallable contingent coupon index-linked notes due May 22, 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 indices and pay a contingent monthly coupon of $7.375 per $1,000 (0.7375% monthly, up to 8.85% per annum) when each underlier meets its coupon trigger (70% of its initial level). The notes are automatically called on specified quarterly observation dates if every underlier is at or above its initial level, in which case holders receive $1,000 plus the coupon then due. If not called, the cash settlement at maturity is based solely on the performance of the lesser performing underlier; a final level below the 70% trigger buffer can produce substantial principal loss (example: a final level of 17.00% would yield 17.00% of face, an 83.00% loss compared to face). The pricing supplement highlights credit risk of the issuer/guarantor, model-derived estimated values below the original issue price, potential illiquidity, and uncertain U.S. federal tax treatment.

GS Finance Corp. is offering $500,000 aggregate face amount of Market Linked Securities—Auto-Callable with Contingent Coupon and Contingent Downside Principal at Risk, guaranteed by The Goldman Sachs Group, Inc.

Each security has a $1,000 face amount, a starting price of $68.60 (pricing date May 4, 2026), an original offering price of $1,000 and an estimated value at pricing of approximately $946 per $1,000 face amount. Monthly contingent coupons of $35 per $1,000 (a stated contingent coupon rate of 42.00% per annum) are payable only if the underlying stock’s closing price on a calculation day is at or above the coupon threshold (60% of the starting price). The securities may be automatically called if the stock closing price on any call date from November 2026 through April 2027 is at or above the starting price; if called, holders receive face amount plus a final contingent coupon. If not called, maturity is May 7, 2027, and principal repayment depends on the ending price relative to the downside threshold (60% of the starting price). If the ending price is below that threshold, investors can lose more than 40%, potentially all, of their face amount. Payments are unsecured obligations subject to issuer and guarantor credit risk.

GS Finance Corp. offers $6,417,500 in Trigger Autocallable GEARS linked to the S&P 500® Index due 2031, guaranteed by The Goldman Sachs Group, Inc. The securities pay no coupons, may be automatically called on May 11, 2027 (call payment May 14, 2027) and settle at maturity on May 8, 2031 (determination May 5, 2031). Investors receive enhanced upside exposure via a 1.50 upside gearing if the final index level exceeds the initial level (initial index level 7,200.75), receive full principal at maturity only if the final index level is at or above the 80.00% downside threshold, and face full downside market exposure if the final index level is below that threshold. Payments are unsecured and subject to issuer and guarantor credit risk.

GS Finance Corp. offers autocallable S&P 500® Index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on May 13, 2027 for $1,079 per $1,000 face amount if the underlier closes at or above the initial level on the call observation date. At maturity (May 10, 2029), if not called, repayment depends on S&P 500 performance with a 150% upside participation rate, a 70% buffer level and a 30% buffer amount. The notes expose investors to issuer and guarantor credit risk, limited upside on an early call, no interest payments, secondary market illiquidity, and possible large principal loss if the final underlier level is below the buffer.

GS Finance Corp. prices structured, autocallable notes linked to the Russell 2000®, S&P 500® and the State Street® Consumer Staples Select Sector SPDR® ETF (XLP). The notes have a stated maturity of May 5, 2031, an aggregate original face amount of $500,000 on the original issue date and a monthly coupon of $8.542 per $1,000 face amount when each underlier is at least 70% of its initial level on a coupon observation date. The notes are automatically called if, on any call observation date commencing July 2026 through March 2031, the closing level of each underlier is greater than or equal to its initial level set on April 30, 2026. At maturity (if not called), the cash settlement is based on the lesser performing underlier: full principal if each underlier is >= 65% of its initial level, no coupon if any underlier is between 65% and 70% of initial, and a pro rata loss (less than 65% of face) if any underlier is 65% of initial. The estimated value on the trade date was approximately $991 per $1,000 face amount; original issue price is 100% with an underwriting discount of 0.7% and net proceeds to issuer of 99.3%. These are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and guarantor credit risk.

The Goldman Sachs Group, Inc. is offering fixed and floating rate medium-term notes that mature on May 8, 2028.

The notes pay a fixed rate of 4.30% per annum during the fixed-rate period through November 8, 2026, then pay compounded SOFR plus a spread of 0.80% (floored at 0.00%) during the floating-rate period, with interest payable quarterly. Denominations are $1,000 and integral multiples. The trade date is expected to be May 6, 2026 and original issue date May 8, 2026. The notes are unsecured obligations of the issuer, not FDIC insured, will not be listed, have no redemption feature, and the calculation agent is Goldman Sachs & Co. LLC.

GS Finance Corp. is offering index-linked notes due May 9, 2029, guaranteed by The Goldman Sachs Group, Inc. Payment at maturity for each $1,000 face amount depends on the lesser performing of the Russell 2000® and the S&P 500® from the trade date May 4, 2026 to the determination date May 4, 2029. The notes pay no interest; the upside participation rate is 109.75%. A protection buffer of 18% applies: losses occur only if the lesser performing underlier falls below 82% of its initial level. The estimated value on the trade date was approximately $978 per $1,000 face amount and the original issue price was 100%.

GS Finance Corp. is offering Market Linked Notes—Upside Participation to a Cap and Principal Return at Maturity linked to the Dow Jones Industrial Average® with a face amount of $1,000 per note. The notes pay 100.00% upside participation in any increase of the underlier from the starting level to the ending level, subject to a maximum return of at least 15.60% (resulting in a maximum maturity payment of at least $1,156.00 per note), and repay the face amount at maturity if the ending level is less than or equal to the starting level, subject to issuer and guarantor credit risk. The stated maturity date is March 5, 2029 (calculation day February 28, 2029); the pricing date is May 28, 2026 and the original issue date is June 2, 2026. The original offering price is $1,000 per note, while the estimated value at pricing is expected to be between $925 and $955 per $1,000 face amount. The underwriting discount is up to 3.075% (up to $30.75 per $1,000), leaving proceeds to issuer shown as $969.25 per note. All payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., there are no periodic interest payments, and the notes are designed to be held to maturity.

GS Finance Corp. is offering structured, non‑interest bearing medium‑term notes guaranteed by The Goldman Sachs Group, Inc. The notes return is linked to an unequally weighted basket of 13 stocks measured from the trade date (expected May 14, 2026) to the determination date (expected May 15, 2028) and matures on the stated maturity date (expected May 18, 2028). The notes provide a 125% upside participation rate subject to a cap level of at least 132% (a maximum settlement amount of at least $1,400 per $1,000 face amount). A buffer level at 90% protects losses up to 10%; if the final basket level falls below the buffer, holders can suffer material principal loss, potentially losing a substantial portion of invested capital. The estimated value at term‑setting is between $925 and $955 per $1,000 face amount, and the underwriting discount is 1.75%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) offers structured, non‑interest bearing notes linked to the S&P 500® Futures Excess Return Index. The notes pay at maturity based on the underlier return from May 1, 2026 to May 1, 2031, with a 220% upside participation rate, a 75% trigger buffer level (25% buffer amount) and a stated maturity of May 6, 2031. For each $1,000 face amount, investors receive $1,000 plus upside participation if the final underlier level is above the initial level, the face amount if the final level is between the trigger buffer level and the initial level, or a prorated cash payment equal to $1,000 times the underlier return if the final level is below the trigger buffer level, which could result in a total loss of principal.

GS Finance Corp. is offering callable, non‑interest bearing notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes have an expected trade date of May 15, 2026, an expected original issue date of May 20, 2026 and an expected stated maturity date of May 22, 2031. The notes may be automatically called on scheduled call observation dates beginning in February 2027 if the index closing level on a call observation date is ≥85% of the initial level; call premiums vary by call date (first call premium 13.725%). At maturity the maximum settlement amount is $1,915 per $1,000 face amount. The index applies up to 500% leverage, is subject to a daily 6.0% per annum decrement, and may be significantly uninvested on some days. The estimated value at pricing is $885–$925 per $1,000 face amount, which is lower than the original issue price.

The issuer, GS Finance Corp., is offering autocallable buffered Russell 2000® Index‑linked notes due May 8, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have a face amount of $22,325,000 on original issue, a trade date of May 4, 2026 and an original issue date of May 7, 2026. The notes pay no interest, may be automatically called beginning May 11, 2027 if the Russell 2000 closing level on a call observation date is ≥90% of the initial level (initial level 2,795.997), and mature on May 8, 2031 if not called. If called, each $1,000 face amount pays $1,000 plus the applicable call premium (call premiums range up to 47.025% in the schedule). If not called, the maximum cash payment at maturity is $1,495 per $1,000; a buffer protects declines down to 85% of the initial level, and below that investors suffer a leveraged loss (buffer rate ≈ 117.65%). The estimated value on the trade date was approx. $990 per $1,000 face amount. Credit risk is that of the issuer and guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., proposes structured medium-term notes linked to the Class C capital stock of Alphabet Inc., and the common stocks of NVIDIA, Amazon.com and Bank of America. The notes mature on the stated maturity date expected to be May 20, 2031 unless automatically called.

The notes pay a monthly coupon per $1,000 face amount equal to $7.084 (maximum) if each index stock on a coupon observation date is ≥ 80% of its initial price, or $0.209 (minimum) if any index stock is below that trigger. Trade date is expected to be May 13, 2026 and original issue date is expected to be May 18, 2026. The estimated value at pricing is between $885 and $925 per $1,000 face amount.

GS Finance Corp. priced $12,000,000 aggregate principal of Contingent Income Buffered Auto-Callable Securities linked to the common stock of Freeport-McMoRan Inc., with an original issue date of May 7, 2026 and stated maturity of May 7, 2027.

The securities pay a contingent monthly coupon per $1,000 principal only if the underlying stock closes at or above a buffer price (70.00% of the initial share price of $56.55) on coupon observation dates, may be automatically called if the stock closes at or above the initial share price on any call observation date, and expose investors to downside loss at maturity when the final share price is below the buffer (losses equal approximately 1.4286% of principal per 1.00% decline beyond the buffer).

GS Finance Corp. is offering autocallable buffered notes linked to the S&P 500® Futures Excess Return Index, guaranteed by The Goldman Sachs Group, Inc. The notes have an aggregate face amount of $2,561,000 on the original issue date, a trade date of May 4, 2026, and an original issue date of May 7, 2026. The notes pay no interest, may be automatically called if the closing level of the underlier on the call observation date (May 4, 2027) is greater than or equal to the initial underlier level of 580.28, and would then pay $1,093 per $1,000 face amount on the call payment date (May 7, 2027). If not called, the cash settlement at maturity (May 9, 2028) is determined by the underlier return versus the initial level, with a 20% buffer (buffer level = 80% of initial level) that limits positive treatment for declines up to 20% and exposes investors to losses if the underlier declines more than 20%. The estimated value on the trade date is approximately $978 per $1,000 face amount; original issue price is 100% of face amount, underwriting discount 0.75%, net proceeds to issuer 99.25%. The notes are unsecured obligations subject to issuer and guarantor credit risk and complex tax and market risks.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering $1,000-face autocallable contingent coupon index-linked notes that reference the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. The notes pay a contingent monthly coupon of $9.375 per $1,000 (0.9375% monthly, up to 11.25% per annum) only if each underlier is at or above 70% of its initial level on the coupon observation date. The notes will be automatically called if, on any call observation date, each underlier is at or above its initial level; on maturity (May 17, 2029) the cash payment per $1,000 depends on the lesser performing underlier and can be as low as 15% of face in the example shown (an 85% loss). Trade date is May 12, 2026 and original issue date is May 15, 2026. Investors bear issuer and guarantor credit risk, possible illiquidity, and tax uncertainty; coupon payments may be entirely missed if any underlier is below the coupon trigger level.

GS Finance Corp. priced callable, contingent‑coupon notes linked to Meta Platforms, Inc. common stock. The notes pay a contingent monthly coupon of $7.917 per $1,000 (0.7917% monthly, up to ~9.50% per annum) when the underlier on an observation date is at least 60% of the initial level. The notes are automatically called if the underlier closes at or above the initial underlier level on any call observation date. At maturity (if not called), principal is paid in cash and depends on the final underlier level, which can result in a complete loss of principal if the final underlier level is well below the trigger buffer level.

GS Finance Corp. is offering principal‑at‑risk, non‑interest bearing notes linked to a weighted basket of the S&P 500® Futures Excess Return Index (65%), the MSCI EAFE Index (25%) and the MSCI Emerging Markets Index (10%). The notes have an expected trade date of May 6, 2026, an expected original issue date of May 11, 2026, an expected automatic call observation date of May 12, 2027 and an expected stated maturity date of May 8, 2031.

If the basket closing level on the call observation date is greater than or equal to the initial basket level of 100, the notes will be automatically called and pay $1,160 per $1,000 face amount on the call payment date. If not called, at maturity you receive $1,000 plus 255% participation in positive basket returns, full principal if final basket level is >= 80% of initial, or a loss proportional to the negative basket return if the final basket level is below 80%. The pricing supplement states an estimated value at term‑setting between $885 and $925 per $1,000 face amount and emphasizes the notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

The offered notes are issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., link payment at maturity to the performance of the S&P 500® Index. The notes have an aggregate face amount of $4,290,000, an original issue price of 100%, and do not pay interest.

Key economics: upside participation of 200% with a capped cash payoff at $1,173.20 per $1,000 face; a buffer level at 90% of the initial index level (initial level 7,200.75); maturity is November 8, 2027. If the final index is below the buffer, investors can lose most or all principal according to the stated buffer rate.

GS Finance Corp. is offering contingent quarterly-coupon notes linked to the common stock of Dollar Tree, Inc., the Class C capital stock of Zillow Group, Inc. and the Class A common stock of Zoom Communications, Inc.. The notes have an expected trade date of May 7, 2026, an original issue date of May 12, 2026 and an expected stated maturity date of May 10, 2027. Coupons of $49.50 per $1,000 (a 4.95% quarterly rate) are paid on a coupon payment date only if the closing price of each index stock on the related coupon observation date is at least 50% of its initial index stock price. The notes are automatically called if, on any call observation date, the closing price of each index stock is greater than or equal to its initial index stock price (initial prices set on May 5, 2026). At maturity the cash settlement depends on whether a trigger event (all final index stock prices below initial prices) occurs; if a trigger event occurs and the lesser performing index stock falls below 50% of its initial price, holders can suffer substantial principal loss. The notes are unsecured obligations of GS Finance Corp. and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

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 return a cash settlement per $1,000 face amount at maturity tied to S&P 500 performance from the trade date to the determination date, subject to a 10% downside buffer and a $1,137.50 maximum upside per $1,000 face amount. Key dates: trade date May 8, 2026, original issue date May 13, 2026, determination date June 8, 2027, and stated maturity June 11, 2027.

The notes convert a positive underlier return into a cash payout up to the stated cap, convert modest negative underlier returns (up to 10%) into an equal positive payout due to the buffer, and impose proportional losses for declines beyond the buffer; investors bear issuer and guarantor credit risk and tax treatment is uncertain.

GS Finance Corp. is offering autocallable S&P 500® Index‑linked notes due 2029, with terms set on the trade date. Each note has a $1,000 face amount and a potential automatic call on the May 13, 2027 that would pay $1,094 per $1,000. If not called, the maturity cash payment on the May 10, 2029 depends on the S&P 500 final level: upside participation of 150% above the initial level, protection only down to a 20% buffer (buffer level = 80% of the initial level) and a full loss profile below the buffer as described. The notes pay no interest, are subject to the issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and may be illiquid.

GS Finance Corp. offers $Buffered S&P 500® Index-Linked Notes due 2028 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest; maturity cash depends on S&P 500 performance from the trade date to the determination date and is subject to a 15% buffer and a $1,220 maximum per $1,000 face amount. Key settlement mechanics: if the final underlier level ≥ initial level, you receive the underlier return up to the maximum upside settlement amount; if the final level declines ≤15% you receive the absolute decline as a positive return; if the final level declines by more than 15% you incur losses below the buffer. The trade date, original issue date and determination and maturity dates are listed in the Key Terms and certain terms are "subject to adjustment" per the general terms supplement.

GS Finance Corp. is offering autocallable, VanEck Semiconductor ETF (SMH)-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes have an initial underlier level of $522.69 (closing May 5, 2026), 100% upside participation and a 20% buffer (buffer level = 80%, buffer rate = 125%). If the underlier on the call observation date is >= the initial level, the notes will be automatically called and pay $1,260.20 per $1,000 face on the call payment date. If not called, final payment at maturity depends on the final underlier level: full principal at or above the buffer, reduced cash settlement below the buffer (examples show as low as 0% of face). The notes pay no interest and are subject to the credit risk of the issuer and guarantor.

GS Finance Corp. is offering trigger autocallable contingent yield notes due May 9, 2029, linked to the common stock of JPMorgan Chase & Co.. The notes pay a $0.225 contingent quarterly coupon (up to 9.00% per annum) only if the underlying stock closes at or above a coupon barrier set on the trade date. The notes are subject to an automatic call beginning November 2026 if the stock closes at or above the initial price; on a call you receive $10 plus the contingent coupon then due. At maturity, if not called, full principal is paid only if the final price is at or above the downside threshold (expected between 71.30% and 68.30% of the initial price); otherwise principal is reduced pro rata by the stock return. Payments depend on the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.