Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers structured, non‑interest bearing notes linked to the common stock of NVIDIA Corporation. The notes have a face amount of $1,000 per note (aggregate initial face amount $5,953,000) with a trade date of May 1, 2026, an original issue date of May 6, 2026, an automatic call observation on May 14, 2027 and a stated maturity of May 4, 2028. If the closing price of NVIDIA on the call observation date is at or above the initial index stock price of $198.45, the notes are automatically redeemed at $1,235 per $1,000 face amount on the call payment date. If not called, the cash settlement at maturity depends on the final index stock price versus the initial price with a threshold settlement amount of $1,470, an upside participation rate of 100%, an 80% buffer level and a buffer rate of 125%; losses can exceed principal and you could lose your entire investment. The estimated value on the trade date was approximately $978 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., and purchasers bear the issuer and guarantor credit risk.

GS Finance Corp. is offering $ Trigger Autocallable Contingent Yield Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a quarterly contingent coupon only if the closing level of each underlying index (the Russell 2000® and the Nasdaq-100®) on an observation date is at or above its coupon barrier. The contingent coupon is set on the trade date at between $0.25 and $0.265 per $10 face amount (up to between 10.00% and 10.60% per annum).

The notes feature an automatic call commencing November 2026 if each index closes at or above its initial index level; on an automatic call you receive the face amount plus the contingent coupon then due. At maturity (expected May 10, 2029), if any index is below its downside threshold (equal to the coupon barrier of 70.00% of its initial index level), repayment is reduced proportionally to the lesser performing index return. Trade date is expected May 6, 2026 and original issue date is expected May 11, 2026. Minimum purchase amount is $1,000.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering $12,412,000 of Enhanced Trigger Jump Securities linked to NIKE, Inc. Class B common stock. The securities pay $228 per $1,000 (a 22.80% upside) at maturity May 12, 2027 if the final share price on the valuation date is at or above the downside threshold $35.488 (80.00% of the initial price $44.36). If the final share price is below that threshold, investors receive the stated principal multiplied by the share performance factor (final/initial) and may lose a significant portion or all principal. Pricing date was April 30, 2026; valuation date is May 7, 2027. The estimated value at pricing was approximately $966 per $1,000, below the original issue price, and the offering includes a 2.25% underwriting discount.

GS Finance Corp. is offering autocallable index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 and Russell 2000 indices, pay no interest, and include a semi-annual automatic call if each underlier is at or above its initial level on a call observation date. Cash payoffs at maturity depend on the lesser performing underlier, with a 150% upside participation rate, an 85% buffer level per underlier and a 100% buffer rate. If the lesser performing underlier falls below the buffer level, investors can lose a substantial portion of principal; a hypothetical final underlier level of 21% would produce a cash settlement equal to 36% of face amount (a 64% loss).

GS Finance Corp. is offering principal-at-risk, cash-settled notes due May 6, 2031, fully guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount note returns 220% of any gain in the S&P 500® Futures Excess Return Index above the initial level. If the final index level is between 75% and 100% of the initial level you receive the $1,000 face amount. If the final level is below 75% you suffer a loss equal to the underlier return times $1,000 (you could lose your entire investment). The notes do not pay interest. The pricing supplement shows an aggregate face amount of $1,852,000 and an original issue price of 100% (underwriting discount 1.125%).

GS Finance Corp. prices an offering of equity index-linked Medium-Term Notes, Series F (guaranteed by The Goldman Sachs Group, Inc.) with an original offering price of $1,000 per security and a stated maturity date of August 2, 2027. The securities provide 300% upside participation in an unequally weighted basket (EURO STOXX 50, Nikkei 225, FTSE 100, SMI, S&P/ASX 200) subject to a maximum return of at least 18.00% (implying a maximum maturity payment of at least $1,180).

Key commercial terms: pricing date May 28, 2026, original issue date June 2, 2026, estimated value at pricing between $925 and $955 per $1,000 face amount, and an underwriting discount up to $20.25 (up to 2.025%), leaving proceeds to issuer of $979.75 per security. Investors bear full downside exposure to basket declines and credit risk of the issuer and guarantor.

GS Finance Corp. is offering Autocallable S&P 500® Index‑Linked Notes due July 7, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and carry an automatic call on July 1, 2027 if the S&P 500 closing level on that date is greater than or equal to the initial index level, in which case holders receive $1,109 per $1,000 face amount on the call payment date. If not called, the maturity payment is tied to the index return measured from an initial underlier level (the lowest closing level during the observation period from May 1, 2026 through May 29, 2026) to the final underlier level (closing level on the determination date of July 3, 2028), with a 150% upside participation rate when the index return is positive and full principal protection only if the final underlier level is no worse than −20% of the initial level. The pricing example shows an estimated value of approximately $977 per $1,000 face amount at trade date and an original issue price of 100% of face. These notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., have limited liquidity, and may result in substantial or total loss of principal if the final index level falls below the trigger buffer level.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes trade date is May 1, 2026, original issue date May 6, 2026, and stated maturity date May 4, 2029. Each $1,000 face amount may be automatically called on specified call observation dates beginning May 4, 2027 if the index closing level on a call observation date is >= 90% of the initial underlier level of 475.94. If not called, payment at maturity depends on the underlier return measured to the determination date May 1, 2029, with a buffer level at 70% of initial level (30% buffer) and a capped maximum settlement amount of $1,430.524 per $1,000 face amount. The index applies a 6.0% per annum decrement, may employ up to 500% leverage, targets 40% volatility, and is complex and potentially highly volatile. The estimated value at pricing was approximately $957 per $1,000 face amount; original issue price is 100% with an underwriting discount of 1.5%.

The offered notes are contingent monthly coupon indexed notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The aggregate face amount is $20,280,000 and each note has a $1,000 face amount. Coupons of $8.334 per $1,000 (0.8334% monthly, ~10.00% annualized) are payable only when each underlier meets its 80% coupon trigger on observation dates. The final cash settlement at maturity (stated maturity May 4, 2029) is based solely on the lesser performing underlier versus its initial level (initial levels: Nasdaq-100 Technology Sector Index 14,845.98; S&P 500 7,230.12). If any underlier is below its 80% buffer at maturity, the payment formula can materially reduce principal (examples show cash settlement as low as 40.000% of face). Notes are automatically called early if both underliers are at or above initial levels on a call observation date. The offering includes underwriting discount of 0.6% and net proceeds equal to 99.4% of face amount.

GS Finance Corp. is offering $1,000 face-amount autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index with a 100% upside participation rate and an automatic call if the index on a call observation date is ≥ 101% of the initial index level. The trade date is May 26, 2026 and the stated maturity is May 27, 2033. The index applies a 5% realized volatility control and a deduction of 0.65% per annum (accruing daily); GS&Co.’s estimated value on the trade date is $850 to $890 per $1,000 face amount.

The notes pay capped cash call premiums on specified call payment dates if called early (examples: at least 9.25% on first call, increasing in later years). If not called, maturity payment is $1,000 plus participation in positive index return; if the final index level is equal to or below the initial level, the cash settlement equals the face amount.

GS Finance Corp. is offering autocallable EURO STOXX 50® index-linked notes due June 5, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, feature an automatic call on a May 31, 2027 observation if the underlier is at or above its initial level, and would pay $1,140 per $1,000 face amount if called. If not called, maturity payments depend on the EURO STOXX 50® performance with a 200% upside participation rate and a 15% buffer (buffer level = 85% of initial level). Investors bear issuer and guarantor credit risk and could lose a substantial portion of their investment if the final underlier level falls below the buffer level.

GS Finance Corp. offers capped, non‑interest notes linked to Marvell Technology, Inc. common stock with a $6,819,000 aggregate face amount and a $1,000 face amount per note. The notes trade with a 100% issue price, 200% upside participation, a buffer at 65% of the initial index stock price ($164.95), an estimated value of approximately $975 per $1,000 face amount on the trade date, an underwriting discount of 1.5%, and automatic call mechanics on May 14, 2027 that cap the call payment at $1,335.5 per $1,000. The stated maturity is May 4, 2028.

The pricing supplement describes GS Finance Corp. buffered digital S&P 500® index-linked notes due May 26, 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and provide a 10% buffer: if the final S&P 500 level on the determination date is at or above 90% of the initial level you receive a capped cash payment (the maximum settlement amount is at least $1,092.30 per $1,000 face); if the final level is below the buffer you lose approximately 1.1111% of face for every 1% the index declines below the buffer, potentially losing your entire investment. Key dates: trade date May 8, 2026, original issue date May 13, 2026, determination date May 21, 2027, stated maturity May 26, 2027. The notes are subject to the issuer and guarantor credit risk, limited upside due to the cap, no shareholder rights in the underlier, uncertain U.S. federal tax treatment, and likely limited secondary market liquidity.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, cash-settled notes linked to the S&P 500Futures Excess Return Index. The notes pay no interest and return at maturity depends on the final underlier level versus the initial level of 582.51. If the final level is at or above the initial level, holders receive the face amount plus 120% upside participation of the underlier gain. If the final level declines up to the 20% buffer, holders receive the absolute value of the underlier return added to the face amount. If the final level falls below the 80% buffer level, holders suffer a proportional loss of principal; a significant portion of the investment could be lost. Trade date is May 1, 2026, original issue date May 6, 2026, determination date May 1, 2029, and stated maturity May 4, 2029. The offering lists an aggregate face amount of $100,000 and an original issue price equal to 100% of face amount.

GS Finance Corp. is offering Buffered S&P 500® Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc., that pay neither interest nor stock, and whose cash payment at maturity is tied to the S&P 500® Index performance measured from May 4, 2026 to the determination date. If the final index level exceeds the initial level, holders receive the index return up to a maximum settlement amount of $1,505.50 per $1,000 face amount. If the final level is down but within a 15% buffer (buffer level = 85% of initial), holders receive the full $1,000 face amount. If the final level declines more than the buffer, holders suffer losses equal to the percent decline beyond the buffer, which can materially reduce principal. Trade date is May 5, 2026, original issue date May 8, 2026, and stated maturity date May 10, 2029.

The notes are issued under GS Finance Corp.'s Medium-Term Notes, Series F program, sold initially by Goldman Sachs & Co. LLC; secondary-market liquidity is not assured. The pricing supplement highlights credit risk of the issuer and guarantor, model-based estimated values below issue price, potential commissions/discounts on secondary sales, uncertain U.S. tax treatment, and applicable FATCA and 871(m) considerations.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due May 27, 2027, fully guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Vertiv Holdings Co. (Bloomberg: VRT UN). The trade date is May 8, 2026 and original issue date is May 13, 2026. Each $1,000 note pays contingent quarterly coupons only if the underlier closes at or above the coupon trigger level of 65% of the initial level, and the notes are automatically called if the underlier closes at or above the initial level on any call observation date. At maturity (if not called), the cash settlement depends on the final underlier level relative to the buffer level of 65% and a buffer amount of 35% (buffer rate approx. 153.85%). The original issue price is $1,000 per face amount (100%), underwriting discount 1%, net proceeds 99%. Prospectus warnings include loss of entire investment, limited upside (capped at 100% of face), market and credit risk, uncertain U.S. federal tax treatment, and potential limited liquidity.

GS Finance Corp. offers medium‑term notes linked to the Class A common stock of Robinhood Markets, Inc. (underlier). Each note has a $1,000 face amount; the offering shows an aggregate face amount of $473,000 and an original issue price of 100% of face amount.

Payment at maturity depends on the underlier return measured from the initial underlier level of $83.95 (set April 27, 2026) to the final underlier level on the determination date. If the final level is at or above the trigger buffer level (50% of the initial level), you receive a capped maximum settlement amount of $1,500 per $1,000 face amount. If the final level is below the trigger buffer level, you lose 1% of face for every 1% the final level is below the initial level and may lose your entire investment.

GS Finance Corp. offers callable S&P 500® Index-linked notes due 2032, guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per unit, do not bear interest, and mature on the stated maturity date expected to be June 1, 2032, unless redeemed earlier at the issuer’s option.

If not redeemed, the cash payment at maturity per $1,000 face amount equals $1,000 plus the product of $1,000 times the underlier return if the final S&P 500® Index level is greater than the initial level; otherwise you receive $1,000. The notes carry a 100% upside participation rate. The trade date and original issue date are expected to be May 26, 2026 and May 29, 2026, respectively. The estimated value on the trade date is expected to be between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering $16,482,000 in medium-term notes, guaranteed by The Goldman Sachs Group, Inc., with contingent quarterly coupons and an automatic call feature. The notes reference the common stock of NVIDIA Corporation (ticker "NVDA UW") and pay a coupon only if the underlier closes at or above 80% of the initial level on observation dates.

At maturity (stated maturity May 20, 2027), cash settlement per $1,000 face depends on the final underlier level versus an 80% buffer; investors can lose up to their entire investment if the final underlier level is sufficiently low. The initial underlier level is $198.45 (trade date May 1, 2026).

GS Finance Corp. is offering principal-protected, non-interest-bearing medium-term notes whose return is linked to the Class A common stock of Meta Platforms, Inc. The notes may be automatically called on the call observation date and mature on the stated maturity date, with a threshold settlement amount of $1,422 and an automatic-call payment of at least $1,211 per $1,000 if the closing price on the call observation date is greater than or equal to the initial index stock price. The notes include an 85% buffer level (buffer rate ~117.65%), limited anti-dilution protections, and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date is between $900 and $930 per $1,000 face amount.

GS Finance Corp. priced contingent monthly-coupon, auto-callable notes tied to the common stock of Amazon.com, Inc. The offering has an $3,630,000 aggregate face amount and a $1,000 face amount per note. The notes pay a monthly contingent coupon of $11.042 per $1,000 (approximately 13.25% per annum) when the underlier closes at or above the coupon trigger of 69% of the initial underlier level ($268.26). The notes are automatically called if the underlier closes at or above the initial level on any call observation date. If not called, principal at maturity depends on the final underlier level; below the 69% trigger buffer the cash settlement equals the face amount multiplied by the underlier return, potentially resulting in a complete loss of principal. Trade date is May 1, 2026, original issue date May 6, 2026, and stated maturity June 4, 2027. The offering reflects an underwriting discount of 0.65% and net proceeds of 99.35% of face amount.

GS Finance Corp. launches an equity-linked, auto-callable medium-term note series guaranteed by The Goldman Sachs Group, Inc. Each security has a $1,000 face amount and $1,000 original offering price. The notes pay a contingent quarterly coupon (at least $57.50, equivalent to 23.00% per annum) only if the underlying stock closing price meets or exceeds a coupon threshold equal to 50% of the starting price. The notes are subject to automatic call on specified quarterly calculation days from August 2026 through February 2029 if the underlying stock closes at or above the starting price; if called, holders receive face amount plus final contingent coupon and any unpaid contingent coupons. If not called, maturity is scheduled for May 11, 2029, and principal repayment depends on the ending price versus a downside threshold equal to 50% of the starting price; an ending price below that threshold causes a loss of more than 50% (up to total loss) of face amount. The estimated model value at pricing is between $925 and $955 per $1,000 face amount. All payments are subject to issuer and guarantor credit risk and the securities are designed to be held to maturity.

GS Finance Corp. is offering callable, principal‑at‑risk notes linked to the common stock of NVIDIA Corporation and Tesla, Inc. Trade date is expected to be May 8, 2026, original issue date expected May 13, 2026, and stated maturity is expected May 15, 2028. Each note has a $1,000 face amount denomination and pays a contingent monthly coupon equal to $15 per $1,000 (1.5% monthly) only if each index stock closes at or above 60% of its initial price on the coupon observation date. Notes will be automatically called if, on a call observation date, each index stock closes at or above its initial price; called notes pay face amount plus accrued coupon on the call payment date. At maturity, if not called, the cash settlement depends on the lesser performing index stock: if each final price is >=70% of initial, holder receives $1,000 plus final coupon; if any final price is between 60% and 70% of initial, holder receives a pro rata amount between 60% and 69.99% of face amount plus final coupon; if any final price is <60% of initial, holder receives an amount equal to $1,000 plus (lesser performing index stock return * $1,000) and no coupon, resulting in <60% of face amount. The estimated value at pricing is between $925 and $955 per $1,000 face amount, which is below the original issue price. Payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers two tranches of Leveraged Buffered Index-Linked Notes guaranteed by The Goldman Sachs Group, Inc. Each tranche is linked to a single index: one to the S&P 500® Index (stated maturity expected November 30, 2028) and one to the Russell 2000® Index (stated maturity expected December 1, 2027). Terms set on the trade date (expected May 26, 2026) will fix the initial index levels, cap levels and issue prices. The S&P 500® tranche carries an upside participation rate of 200%, a buffer of 10% (buffer level 90%) and a stated maximum settlement amount of at least $1,242.5 per $1,000 face amount. The Russell 2000® tranche carries an upside participation rate of 110%, the same 10% buffer and a stated maximum settlement amount of at least $1,240 per $1,000 face amount. Estimated secondary-market values at pricing are shown as $925 to $965 per $1,000 face amount. These notes do not pay interest, are unsecured obligations of the issuer, and are subject to the credit risk of GS Finance Corp. and its guarantor.

Goldman Sachs supplemental index fact sheet describes the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER and risks for notes linked to that index. The index uses a rules-based, volatility‑adjusted overlay with a 6.0% per annum daily decrement, a maximum exposure of 500% and a maximum daily leverage change of 100%. Historical data begins December 27, 2024; the fact sheet shows a reported 32.7% annualized return for a stated period and example weekly exposure levels above 200% in April 2026. The supplement emphasizes numerous risk factors for investors, including leverage risk, possible index underperformance relative to the S&P 500® Index, negative roll yields, limited operating history, and issuer credit risk.

GS Finance Corp. prices equity-index-linked medium-term notes guaranteed by The Goldman Sachs Group, Inc. Each security has a $1,000 face amount, a contingent fixed return of at least $83.50 (minimum 8.35%) and a capped upside, with a 10% buffer and up to 90% downside exposure at maturity on June 4, 2027.

The pricing date is May 15, 2026 and original issue date is May 20, 2026. Estimated value at pricing is between $900 and $930 per $1,000 face amount. Underwriting discounts of up to $23.25 per security reduce proceeds to the issuer to $976.75 per security.

GS Finance Corp. offers non‑interest bearing, equity‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Robinhood Markets, Inc. and 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 18, 2029.

The notes have an automatic call feature if the index stock closing price on any call observation date is at least 75% of the initial index stock price; call observation dates include May 17, 2027 and May 15, 2028 with call premiums of at least 25% and 50%, respectively. If not called, maturity payoff depends on the final index stock price versus the initial index stock price, is capped (maturity premium at least 75%), and may result in loss of principal, including total loss if the final price declines more than 50% of the initial index stock price. The issuer and guarantor credit risk and GS&Co.’s role as calculation agent are disclosed as material risks.

GS Finance Corp. offers principal‑protected‑style structured notes (face amount $1,000 each) linked to the common stock of NVIDIA Corporation and Tesla, Inc. The notes pay monthly coupons only if both stocks meet coupon triggers, may be automatically called beginning November 2026, and mature (expected) on May 15, 2028. Redemption and maturity payoffs depend on the lesser performing index stock versus initial prices set on the trade date (expected May 8, 2026) and include downside buffers at 70% and coupon triggers at 60%. The notes are unsecured obligations of GS Finance Corp. and are fully guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering index-linked notes due May 28, 2031 (guaranteed by The Goldman Sachs Group, Inc.) that pay at maturity based on the lesser performing underlier of the MSCI EAFE Index and the EURO STOXX 50® Index. For each $1,000 face amount, the payoff is: (1) $1,000 plus $1,000×the 216% upside participation rate×the lesser performing underlier return if both underliers finish above their initial levels; (2) $1,000 if all underliers finish at or above their 50% trigger buffer level but at least one finishes at or below its initial level; or (3) $1,000 plus $1,000×(lesser performing underlier return) if any underlier finishes below its trigger buffer level, which can result in a loss of principal up to 100%. The notes do not pay periodic interest and are payable in cash. Trade date is May 22, 2026 and original issue date is May 28, 2026. Pricing, aggregate amount, underwriting discount and net proceeds will be set on the trade date.

GS Finance Corp. is offering leveraged, callable notes linked to the S&P 500® Futures Excess Return Index, due (expected) June 1, 2032, and guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, does not pay interest and may be redeemed at issuer option on monthly call dates beginning June 1, 2027. At maturity the cash payment per $1,000 depends on the underlier return: if positive, holders receive $1,000 plus 1.25 times the index return; if zero or negative, holders receive $1,000. The notes track E‑mini S&P 500 futures (not the S&P 500 Index), have estimated model value of $885–$935 per $1,000 face amount on the trade date, and are subject to issuer and guarantor credit risk, market disruption adjustments, tax rules for contingent payment debt instruments, and potential negative roll yields from futures exposure.

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, does not pay interest, and participates at an upside participation rate of 125% in positive index returns measured from the trade date (expected May 5, 2026) to the determination date (expected May 1, 2031). The notes may be redeemed at the issuer’s option on the call payment date (expected May 8, 2028) for $1,202 per $1,000 face amount. If not redeemed, at the stated maturity (expected May 8, 2031) holders receive either the face amount or, if the final underlier level is greater than the initial level, $1,000 plus 1.25× the index return. The estimated value on the trade date is expected to be between $885 and $925 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk and may have limited liquidity.

GS Finance Corp. is offering $ Buffered Digital S&P 500® Index-Linked Notes due, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest. Payment at maturity depends on the S&P 500® performance from the trade date to the determination date, with a 90% buffer level and a capped maximum settlement amount expected between $1,129.20 and $1,152. If the final underlier level is at or above the buffer level, investors receive the capped maximum; if below the buffer level, holders lose approximately 1.1111% of face for each 1% decline below the buffer and could lose their entire investment. Terms (including determination and maturity dates) are set on the trade date and are subject to adjustment.

GS Finance Corp. is offering Leveraged S&P 500® Futures Excess Return Index‑Linked Notes due 2031 guaranteed by The Goldman Sachs Group, Inc. The notes pay at maturity based on the S&P 500® Futures Excess Return Index performance from the trade date to the determination date, with an upside participation rate of at least 210% and a 70% trigger buffer level. If the final underlier level is above the initial level, investors receive $1,000 plus the upside participation rate times the underlier return; if the final level is between 70% and 100% of the initial level, investors receive the face amount; if below 70%, investors lose in proportion to the underlier decline and could lose their entire investment. The trade date is May 29, 2026, original issue date June 3, 2026, and stated maturity date June 3, 2031. Terms, pricing and certain percentages are subject to confirmation on the trade date and are described in the accompanying supplements.

GS Finance Corp. is offering medium-term notes guaranteed by The Goldman Sachs Group, Inc. The notes reference the shares of Alphabet (Class A), NVIDIA, Meta (Class A) and Tesla, and mature on the stated maturity date expected to be May 22, 2031 unless automatically called. The trade date is expected to be May 15, 2026 and the original issue date expected to be May 20, 2026.

Each monthly coupon (per $1,000 face amount) will be either the maximum coupon of $8.334 (0.8334% monthly, ~10% p.a.) if every index stock on the observation date is >= 80% of its initial price, or the minimum coupon of $0.209 (0.0209% monthly, ~0.25% p.a.) otherwise. Notes will be automatically called if, on any call observation date, each index stock closes at >= 95% of its initial price; observation dates commence in May 2027 through April 2031, with coupon observation dates monthly beginning June 2026. The estimated value at pricing is between $885 and $935 per $1,000 face amount.

The issuer, GS Finance Corp., is offering structured, automatically callable notes linked to the common stocks of Advanced Micro Devices, Inc., Micron Technology, Inc., Broadcom Inc. and Tesla, Inc.. The notes have an expected trade date of May 18, 2026, an original issue date expected to be May 21, 2026, and a stated maturity date expected to be May 27, 2031. Coupons are monthly and pay either a maximum incremental coupon of $6.875 per $1,000 face amount (cumulative formula, up to 8.25% per annum potential) when each index stock meets its 80% trigger on an observation date, or a minimum coupon of $0.209 per $1,000 face amount if any index stock is below its coupon trigger. The notes may be automatically called beginning in May 2027 if all index stocks are at or above their initial prices on a call observation date. Estimated value at pricing is stated between $885 and $925 per $1,000 face amount. Payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc..

GS Finance Corp. is offering fixed-coupon, buffered notes linked to the S&P 500® Volatility Plus Daily Risk Control Index, guaranteed by The Goldman Sachs Group, Inc. The notes pay a coupon of at least $15 per $1,000 face amount (at least 1.5% quarterly, up to at least 6% per annum), with expected trade date May 26, 2026, original issue date May 29, 2026, and stated maturity May 29, 2029.

Principal repayment at maturity depends on the index return measured from the initial underlier level to the determination date (May 21, 2029). If the final level is ≥ 85% of the initial level, you receive the face amount. If below 85%, the cash settlement is reduced by the underlier return below the 15% buffer. The estimated value on the trade date is between $925 and $965 per $1,000 face amount. Payments remain subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Trigger Autocallable GEARS linked to the EURO STOXX 50® Index, guaranteed by The Goldman Sachs Group, Inc., with an expected trade date of May 13, 2026 and stated maturity of May 15, 2031. The securities pay no coupons, may be automatically called on the call observation date, and the cash payoff depends on index performance versus an initial index level.

The terms list an autocall barrier at 100.00% of the initial index level, an upside gearing expected between 1.55 and 1.80, a downside threshold at 75.00% of the initial index level and a call return of 18.00%. The estimated value at issuance is between $9.35 and $9.65 per $10 face amount; the original issue price is 100.00% of face amount and the underwriting discount is 2.50%.

GS Finance Corp. is offering leveraged, callable notes due May 13, 2031 guaranteed by The Goldman Sachs Group, Inc., linked to the S&P 500® Futures Excess Return Index. The notes pay no interest, have a 218% upside participation rate and may be redeemed monthly from May 2027 through April 2031

The notes reference E‑mini S&P 500 futures (not the cash S&P 500® Index); if the index return is positive at the determination date (expected May 6, 2031), holders receive $1,000 plus 2.18 times the index return per $1,000 face amount. If the index return is zero or negative, holders receive $1,000. The estimated value at pricing is approximately $885 to $925 per $1,000 face amount; original issue price is 100% of face amount.

Payments depend on GS Finance Corp.'s and Goldman Sachs' creditworthiness; market value may be affected by roll yields, interest rates, volatility and liquidity considerations. Trade date is expected May 8, 2026.

GS Finance Corp. is offering autocallable Nasdaq-100 Index®‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and are linked to the Nasdaq-100 closing level. If the call observation level is greater than or equal to the initial level, all notes will be automatically called and each $1,000 face amount will pay at least $1,125 on the call payment date.

If the notes are not called, the cash payment at maturity depends on the final underlier level: investors can receive $1,000 plus upside (125% participation) if the final level exceeds the initial level; receive $1,000 if the final level is at or above 85% of the initial level; or suffer a loss tied to the buffer mechanics if the final level is below 85% (illustrative table shows payments down to 15% of face at 0% final level). The pricing supplement notes credit risk of the issuer and guarantor, model valuation differences versus original issue price, limited liquidity, tax uncertainty, and other customary structured‑note risks.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering index-linked notes tied to the lesser performing of the S&P 500® Equal Weight Index and the S&P 500® Index. Trade date is expected to be May 7, 2026, original issue date May 12, 2026, determination date May 8, 2028 and stated maturity May 11, 2028. For each $1,000 face amount, the cash payment at maturity depends on the lesser performing underlier return, subject to a Buffer level of 75% (buffer amount 25%) and a Maximum settlement amount of $1,180 per $1,000. Notes pay no interest; estimated value at pricing is between $925 and $955 per $1,000. Investors bear issuer and guarantor credit risk and may lose a substantial portion of principal if the lesser performing underlier falls below the buffer level.

GS Finance Corp. is offering leveraged, MSCI EAFE index‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes have a 300% upside participation rate, a capped cash payoff (maximum settlement amount expected between $1,192.30 and $1,225.90 per $1,000 face) and do not pay interest. Payment at maturity depends on the MSCI EAFE Index performance from the trade date to the determination date (the determination date is expected between 14 and 16 months after the trade date). If the final underlier level is at or below the initial level, holders suffer a loss proportional to the decline and may lose their entire investment. Goldman Sachs & Co. LLC is the calculation agent and initial purchaser; the notes are unsecured senior debt under the GSFC 2008 indenture.

GS Finance Corp. offers $1,000‑denominated autocallable contingent coupon index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq‑100, Russell 2000 and S&P 500 and pay a contingent monthly coupon of $8.334 per $1,000 (0.8334% monthly; up to ~10.00% per annum) when each underlier meets a 70% coupon trigger on observation dates. The notes are automatically called if all underliers meet or exceed their initial levels on any call observation date. If not called, principal at maturity is based solely on the lesser performing underlier; a final underlier level of 17.000% would yield a cash settlement of 17.000% of face, resulting in an 83.000% loss on a $1,000 purchase held to maturity. The pricing terms (including issue price and underwriting discount) and certain dates are set on the trade date.

GS Finance Corp. offers equity-linked notes guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and an expected trade date of May 13, 2026 with an expected original issue date of May 18, 2026 and a stated maturity date of May 20, 2031. The notes pay a monthly coupon that is the maximum coupon when the closing price of each index stock is at least 80% of its initial price, otherwise the minimum coupon applies. Index stocks are Amazon, NVIDIA, Bank of America and Alphabet Class C. Notes are automatically called if, on a call observation date, the closing price of each index stock is greater than or equal to its initial price, with call observation dates beginning May 2027. The estimated value at pricing is between $885 and $935 per $1,000 face amount. Payments are unsecured and subject to the issuer and guarantor credit risk; anti-dilution and market-disruption provisions and GS&Co.'s discretion as calculation agent may affect coupons and redemption timing.

GS Finance Corp. is offering $ Buffered S&P 500® Index-Linked Notes due May 18, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the S&P 500® performance measured from the trade date (May 15, 2026) to the determination date (May 15, 2029), subject to a $1,465 maximum upside settlement per $1,000 face amount and an 85% buffer level (15% buffer amount).

GS Finance Corp. is offering callable 10‑Year CMT Rate‑Linked Range Accrual Notes due May 11, 2033, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay interest at 7.90% per annum for the first four quarterly payment dates beginning August 2026; thereafter quarterly interest, if any, will depend on the portion of reference dates in each interest period when the 10‑year CMT rate is within the 0.00%–5.25% trigger range. The issuer may redeem the notes in whole on any quarterly interest payment date on or after May 2027 at 100% of principal plus accrued interest. Expected pricing and original issue dates are on or about May 6, 2026 and May 11, 2026, respectively; the stated maturity is expected to be May 11, 2033. The prospectus shows an estimated value range of $918 to $968 per note and an underwriting discount of 1.25%. Net proceeds are to be lent to The Goldman Sachs Group, Inc. and may be used for hedging and general corporate purposes.

GS Finance Corp. is offering principal‑protected, auto‑callable notes linked to the Dow Jones Industrial Average®, the Russell 2000® Index and the State Street® Technology Select Sector SPDR® ETF. Each $1,000 note may pay a monthly coupon of $10 if all underliers are at or above 70% of their initial levels on an observation date and may be automatically called if all underliers are at or above their initial levels on a call observation date. If not called, the maturity payoff depends on the lesser performing underlier with a trigger buffer at 65%; a final underlier level below 65% can cause substantial principal loss. Estimated value at pricing is stated between $890 and $930 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering index-linked medium-term notes due 2031. Each note has a $1,000 face amount and will pay at maturity either the face amount or a cash payment tied to the lesser performing underlier of the Dow Jones Industrial Average and the S&P 500, subject to a maximum settlement amount of $1,500. The trade date is May 26, 2026, original issue date is May 29, 2026, the determination date is May 27, 2031, and the stated maturity date is May 30, 2031. The notes do not bear interest, are payable in cash, and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers structured notes maturing in 2029 linked to the Class A common stock of Meta Platforms, the common stock of Advanced Micro Devices and Netflix, and the Class A common stock of Palantir. The notes pay conditional monthly coupons only if each index stock closes at or above 70% of its initial price on an observation date; a final cash payment depends on the lesser performing index stock with a 60% trigger buffer (below which principal is at risk). The notes are unsecured obligations guaranteed by The Goldman Sachs Group, Inc.; investors are exposed to issuer and guarantor credit risk. The estimated value at pricing is expected between $925 and $965 per $1,000 face amount. Terms, observation dates and initial index prices will be set on the trade date.

GS Finance Corp. offers principal-at-risk notes linked to the EURO STOXX 50® Index. For each $1,000 face amount, investors receive $1,103.90 at maturity if the final index level is at or above a 90% buffer level; below that threshold returns decline ~1.1111% of face for each 1% drop below the buffer, and investors could lose their entire investment. The notes pay no interest and are guaranteed by The Goldman Sachs Group, Inc.; original issue price is 100% of face and aggregate face amount is $1,250,000. Terms reference a trade date April 30, 2026, original issue date May 5, 2026, determination date May 13, 2027 and stated maturity May 18, 2027.