Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. priced indexed, autocallable notes (guaranteed by The Goldman Sachs Group, Inc.) linked to the Nasdaq-100 and S&P 500. The offering aggregates $5,594,000 face amount with an original issue price of 100% of face and a dealer underwriting discount of 0.8%. The notes pay no interest, may be automatically called on the call observation date if each underlier is at or above its initial level (call payment = $1,160 per $1,000 if called), and otherwise settle at maturity based solely on the lesser performing underlier with a 200% upside participation rate and an 80% trigger buffer. Investors may lose their entire investment if the lesser performing underlier falls below the trigger buffer; market value and liquidity depend on many factors including issuer creditworthiness and underlier performance.

The pricing supplement describes an $8,675,000 offering of Contingent Income Securities issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. These are principal‑at‑risk unsecured notes linked to the Class B common stock of NIKE, Inc. (initial share price $44.36). Investors may receive a contingent quarterly coupon when the underlying stock's closing price on specified observation dates is at or above the downside threshold price of $35.488 (80.00% of the initial price). If the final share price on the determination date is below the downside threshold, principal is reduced pro rata by the share performance factor (final/initial), and no coupon is paid; if the final share price is at or above the threshold, each $1,000 principal returns $1,000 plus any final contingent coupon. The securities mature on May 5, 2027, estimated value at pricing was approximately $965 per security, and the original issue price equals principal amount with a 2.25% underwriting discount.

GS Finance Corp. offers capped, buffer‑protected basket‑linked notes guaranteed by The Goldman Sachs Group, Inc. The notes (trade date April 30, 2026, stated maturity May 3, 2029) pay a cash amount per $1,000 face based on the percentage change in an equally weighted 6‑stock basket (initial level 100), subject to a cap level 240% (maximum settlement $2,400) and a trigger buffer at 60%. If the final basket level is ≥ initial level, holders receive upside (100% participation) capped at $2,400; if the final basket level declines ≤40% (≥60% of initial) holders receive $1,000; if it declines >40% (<60%) holders suffer a loss proportionate to the basket return and may lose their entire investment. Estimated value on the trade date was approximately $925 per $1,000 face amount; original issue price was 100% with a 1% underwriting discount.

GS Finance Corp. is offering structured notes linked to the Russell 2000® Index and the S&P 500® Index with an aggregate face amount of $2,891,000. Each $1,000 note pays a contingent quarterly coupon of $17.125 (1.7125% quarterly, up to 6.85% per annum) only if each underlier is at or above a coupon trigger level equal to 55% of its initial level on the related coupon observation date.

Principal at maturity is exposed to the lesser performing underlier: if the final level of the lesser performing underlier is below its trigger buffer (also 55% of initial), the cash settlement equals $1,000 plus $1,000 multiplied by the lesser performing underlier return, potentially causing a complete loss of principal. The issuer may redeem the notes on coupon payment dates commencing in November 2026 through February 2031. Trade date is April 30, 2026, original issue date May 5, 2026, stated maturity May 5, 2031.

GS Finance Corp. is offering callable S&P 500® index-linked notes with an aggregate face amount of $2,102,000. The notes mature May 5, 2031, do not bear interest and pay at maturity based on S&P 500 performance from the trade date (April 30, 2026) to the determination date (April 21, 2031).

The notes participate at a 150% upside participation rate if the final index level exceeds the initial level of 7,209.01. If the final level is between 100% and 85% of the initial level, investors receive the face amount. If below 85%, holders can lose a substantial portion of principal; the buffer amount is 15%. The issuer may redeem notes on monthly call payment dates beginning May 2027 at specified capped call premium amounts.

GS Finance Corp. is offering structured, autocallable notes linked to the S&P 500 Index, the State Street® Consumer Staples Select Sector SPDR® ETF and the iShares® Russell 2000 ETF that mature on May 5, 2031. Each $1,000 note pays a monthly coupon of $9.167 if, on a coupon observation date, the closing level of each underlier is at least 70% of its initial level. The notes will be automatically called on any call observation date (Oct 2026–Mar 2031) if each underlier’s closing level is greater than or equal to its initial level, in which case holders receive the face amount plus the coupon then due. If not called, the cash settlement at maturity is based on the performance of the lesser performing underlier; if that underlier is below 70% of its initial level, principal is reduced pro rata. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering structured, cash-settled notes linked to the S&P 500® Index with an aggregate face amount of $894,000. Each note has a $1,000 face amount, no periodic interest, and payoff at maturity is based on the index performance from the trade date through the determination date.

Key terms: upside participation 125% (capped at a $1,200 maximum cash settlement), a 10% buffer (buffer level = 90% of the initial level), initial underlier level 7,209.01, trade date April 30, 2026, original issue date May 5, 2026, determination date May 1, 2028 and stated maturity May 4, 2028 (subject to adjustment).

The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and expose investors to issuer/guarantor credit risk, limited upside due to the cap, potential for substantial loss if the final index level is below the buffer, and limited or no liquidity.

GS Finance Corp. offers medium-term structured notes (Pricing Supplement No. 24,169) linked to the common stock of ServiceNow, Inc. (ticker NOW). The offering has an aggregate face amount of $2,520,000 and a face amount of $1,000 per note, original issue price 100% of face amount.

The notes pay a contingent quarterly coupon of $45 per $1,000 (4.5% quarterly, up to 18.00% per annum) only if the underlier closes at or above the coupon trigger level (50% of the initial underlier level) on each coupon observation date, and are subject to 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 is 100% of face if the final underlier level is at or above 50% of the initial level; otherwise the cash payment is reduced pro rata and you could lose your entire investment.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering $2,137,000 of principal-protected contingent-return notes linked to the S&P 500® Index. Each $1,000 note returns either a capped upside, full principal, or a leveraged downside based on the index performance from the trade date to the determination date.

The notes mature on May 6, 2027. Key mechanics: buffer level = 70% of the initial index level (buffer amount = 30%); if the final index is ≥ buffer level but ≤ initial level you receive $1,000; if final index < buffer level you lose 1% of principal for each 1% the index is below the buffer; maximum settlement = $1,085.50 per $1,000. Notes pay no interest and are subject to issuer/guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering autocallable, index-linked notes due 2033 linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest, may be automatically called annually if the index meets rising call levels, and return at least the face amount at maturity with upside participation tied to index performance.

Key trade dates: trade date May 26, 2026, original issue date May 29, 2026, determination date May 26, 2033, stated maturity June 3, 2033. The estimated trade-date value is $850–$880 per $1,000 face amount, below issue price, and the index is subject to a 0.65% per annum deduction (accruing daily).

GS Finance Corp. is offering callable S&P 500® Futures Excess Return Index‑linked notes due May 5, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes have a face amount of $2,847,000 (aggregate) on the original issue date and an original issue price of 100%.

The notes do not pay interest, have an initial underlier level of 581.37, an upside participation rate of 203%, and a trigger buffer level equal to 60% of the initial underlier level. Holders receive cash at maturity based on the final underlier level on the determination date (April 21, 2031) subject to the issuer’s monthly redemption option beginning May 2027. The estimated value on the trade date was approximately $967 per $1,000 face amount.

GS Finance Corp. offers buffered digital equity-linked notes linked to NVIDIA Corporation stock, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, mature about 13–15 months after the trade date, and provide a 15% buffer (buffer level = 85%) against declines. If the final underlier level is at or above the buffer level, the cash payment is capped at a maximum settlement amount expected between $1,201.10 and $1,235.90 per $1,000 face amount. If the final level is below the buffer level, the investor loses approximately 1.1765% of face amount for each 1% decline below the buffer, potentially losing the entire investment.

The offered notes are principal-protected, market-linked notes issued by GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., with an aggregate face amount of $802,000. Each $1,000 face amount participates 100% in positive index performance subject to a capped annual automatic-call schedule; if not called, maturity payoff depends on the GSMBFC5 Index performance on the determination date. The notes do not pay interest, carry issuer and guarantor credit risk, and the issuer’s estimated value on the trade date was $939 per $1,000 (an additional amount of $61 that amortizes to zero by July 29, 2026).

GS Finance Corp. offers autocallable notes due 2031 guaranteed by The Goldman Sachs Group, Inc. The notes reference the S&P 500® Futures Excess Return Index and do not pay interest. If the underlier on the call observation date is >= the initial level, the notes will be automatically called and pay $1,170 per $1,000 face amount on the call payment date. If not called, maturity payoff depends on the final underlier level: investors receive $1,000 plus upside participation of 245% of positive underlier return, receive principal if final level is >= the 70% trigger buffer, or suffer losses (including a possible total loss) if the final level is below the trigger buffer. Trade date is May 5, 2026, original issue date May 8, 2026, stated maturity May 8, 2031. The underlier tracks E-mini S&P 500 futures (SPXFP Index), so futures-specific effects (negative roll yield, financing/contango) and issuer/guarantor credit risk will affect value.

GS Finance Corp. priced Market Linked Notes (Series F) with an original offering price of $1,000 per security, linked to the lowest performing of three State Street sector ETFs and guaranteed by The Goldman Sachs Group, Inc. The pricing date is April 30, 2026 and the stated maturity is April 27, 2029.

The notes pay a contingent quarterly coupon of $33.75 per $1,000 face amount (13.50% per annum) only if the lowest performing underlier on each calculation day is at or above its 75% coupon threshold; automatic early call occurs if the lowest performing underlier is at or above its starting price on quarterly call dates. If not called, principal at maturity depends on the lowest performing underlier versus its 70% downside threshold, and holders can lose more than 30% or all principal.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable notes linked to the common stock of FactSet Research Systems Inc. The notes pay a quarterly coupon of $40 per $1,000 face amount (4% quarterly, 16% annualized) only if the index stock on each coupon observation date is at or above 60% of the initial index stock price of $227.58. The notes may be automatically called on observation dates beginning July 2026 through January 2029 if the index stock closes at or above the initial index stock price; maturity is May 3, 2029. If the final index stock price is below 60% of the initial price at the determination date, principal is reduced pro rata by the index stock return. The estimated value at pricing was approximately $961 per $1,000 face amount and the original issue price is 100%.

GS Finance Corp. offers autocallable, market-linked notes with payments tied to the common stock prices of Apple, Amazon and Tesla. The notes mature May 3, 2029 but are automatically called on quarterly call observation dates if each stock is >= its initial price.

Monthly coupons of $14.584 per $1,000 (1.4584% monthly, ~17.5% p.a.) are paid only when each index stock's closing price on the coupon observation date is >= 70% of its initial price. At maturity, a trigger event (all final prices below initial prices) makes redemption depend on the lesser performing stock; a final price below 60% of initial can result in a large principal loss. Estimated value at terms set is approximately $969 per $1,000.

The issuer, GS Finance Corp., is offering structured, buffered, autocallable notes linked to the common stocks of JPMorgan Chase & Co., Micron Technology, Inc., and Palantir Technologies Inc.. The notes have an expected trade date of May 26, 2026 and an expected original issue date of May 29, 2026, with a stated maturity expected on June 5, 2029.

Each $1,000 note may pay a monthly coupon of $16 (1.6% monthly; 19.2% per annum) on a coupon payment date only if the closing price of each index stock on the related coupon observation date is at least 60% of its initial index stock price. Notes will be automatically called if on any call observation date every index stock closes at or above its initial price; called notes pay the face amount plus any due coupon. At maturity, if a trigger event occurs (each final index stock price is below its initial price), the cash settlement amount is tied to the lesser performing index stock and may be significantly below face amount; a buffer feature applies at 80% buffer price (buffer amount 20%).

The prospectus discloses an estimated model value on the trade date between $925 and $965 per $1,000 face amount and highlights the notes’ credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. and limited secondary-market liquidity. Terms and all qualifiers are set forth in the supplement.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering principal-protected contingent notes linked to a Class A ordinary share of Accenture plc. The notes pay a quarterly coupon of $44.75 per $1,000 face amount when the index stock closes at or above 60% of $178.71 on an observation date. Notes mature on May 3, 2029 unless automatically called beginning July 2026 if the index stock closes at or above the initial price of $178.71. If the final index stock price is below 60% of the initial price, holders suffer pro rata losses (potentially receiving substantially less than the face amount) and receive no coupon. The estimated value at pricing was approximately $968 per $1,000 face amount; original issue price is 100% with a 2% underwriting discount.

GS Finance Corp. is offering medium-term, non-interest-bearing notes linked to the S&P 500 Index with an aggregate face amount of $2,491,000. Each $1,000 face amount will pay at maturity either the face amount or a cash payment equal to $1,000 plus the underlier return, capped at a maximum settlement amount of $1,530 per $1,000. The notes trade date is April 30, 2026, original issue date May 5, 2026, and stated maturity is May 5, 2031, with the final underlier level determined on April 30, 2031. The notes are senior unsecured obligations of GS Finance Corp. and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.; they do not bear interest and are subject to the issuer's and guarantor's credit risk. The prospectus states these instruments are treated as contingent payment debt instruments for U.S. federal income tax purposes; GS has determined a comparable yield of 4.79% per annum and a projected maturity payment of $1,271.32 per $1,000 for tax accruals.

GS Finance Corp. is offering principal-protected contingent coupon notes linked to the VanEck Oil Services ETF (initial level $448.24) and the State Street Energy Select Sector SPDR ETF (initial level $59.65). The notes mature on November 6, 2028 unless automatically called on observation dates beginning October 2026. Monthly coupons of $7.50 per $1,000 (0.75%) are payable only if both ETFs close at or above 70% of their initial levels on each coupon observation date. Automatic call occurs if both underliers close at or above their initial levels on any call observation date; called notes pay face amount plus the coupon on the related call payment date. If not called, final cash at maturity depends on the lesser performing ETF: full principal is returned if each ETF is >= 80% of initial (buffer level); reduced principal applies if the lesser performing ETF is between 70% and 80%; investors can lose more than 30% of principal if the lesser performing ETF is below 70% of its initial level. The pricing supplement shows an estimated initial value of approximately $963 per $1,000 face amount and an original issue price of 100% with a 2.75% underwriting discount.

The issuer, GS Finance Corp., is offering structured, non‑interest bearing notes linked to two ETFs: the iShares MSCI EAFE ETF (EFA) and the VanEck Gold Miners ETF (GDX). 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 November 20, 2029. Notes are subject to an automatic call beginning on May 17, 2027 if both ETFs are at or above their initial levels on a call observation date, producing a capped call payment equal to principal plus a specified call premium. If not called, the maturity payment is based on the lesser performing ETF relative to its initial level with a trigger buffer at 70% and a capped maturity premium of 64.7514%. Estimated value on the trade date is expected to be between $915 and $955 per $1,000 face amount. Payments depend on issuer and guarantor creditworthiness and certain market‑event adjustments; tax treatment is characterized as a pre‑paid derivative contract.

GS Finance Corp. is offering $Buffered Russell 2000® Index-Linked Notes due 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the cash payment at maturity depends on the performance of the Russell 2000® Index measured from the trade date to the determination date.

Key economic terms: upside participation of at least 100%, a buffer that protects the first 15% of decline (buffer level = 85% of the initial level), trade date May 29, 2026, original issue date June 3, 2026, determination date May 29, 2031, and stated maturity June 3, 2031. If the final underlier level is below the buffer level, holders lose value on a 1-for-1 basis beyond the buffer; if the final level is at or above the buffer but below initial, holders receive the face amount.

GS Finance Corp. is offering $1,000 face‑amount buffered digital equity‑linked notes linked to the common stock of Amazon.com, Inc. The notes pay no interest and on the stated maturity date will deliver either a capped cash payment (the maximum settlement amount, expected between $1,153 and $1,180 per $1,000 face) if the final underlier level is at or above the buffer level (85%), or a declining cash amount if the final underlier level is below 85%, with losses equal to approximately 1.1765% of face for each 1% decline below the buffer (buffer rate ≈ 117.65%). The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., subject to the issuer/guarantor credit risk, have a determination date and maturity roughly 13–15 months and a few business days apart, are not listed, and may have limited secondary‑market liquidity.

GS Finance Corp. is offering autocallable buffered notes linked to the Russell 2000® Index with an expected trade date of May 4, 2026, an original issue date expected to be May 7, 2026, and a stated maturity expected to be May 8, 2031. Each note has a $1,000 face amount.

The notes pay no interest, can be automatically called starting in May 2027 if the index closes at or above 90% of its initial level on a call observation date, and pay a capped call amount if redeemed. If not called, maturity payoffs depend on the final index level: a maximum cash settlement of $1,495 per $1,000 if the final level is ≥90% of initial; return of principal at levels between 85% and 90%; and scaled losses below 85% (buffer = 85%, buffer rate ≈ 117.65%), which can result in a total loss. 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 structured, autocallable notes (guaranteed by The Goldman Sachs Group, Inc.) linked to an equally weighted basket of Broadcom, Meta Platforms, Micron and Palantir. Each note has a $1,000 face amount reference, monthly coupon of $10 if the basket is >=80% on observation dates, automatic call beginning May 2027 if the basket reaches the initial level (100), and a stated maturity expected to be May 22, 2031. At maturity, if the final basket level is below 80% the investor bears losses linearly below the buffer; estimated model value on trade date is $885–$925 per $1,000 face amount.

GS Finance Corp. is offering principal-at-risk, automatically callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER (Bloomberg: SPAR4V6). The notes have an expected trade date of May 26, 2026, an expected original issue date of May 29, 2026 and an expected stated maturity of June 3, 2031. For each $1,000 face amount, a monthly coupon of $12.50 (1.25% monthly, up to 15% per annum) is payable only if the index closing level on the coupon observation date is at or above 60% of the initial underlier level.

If the notes are automatically called on any call observation date, holders receive the face amount plus the coupon on the related call payment date; if not called, the cash settlement at maturity depends on the underlier return. The index applies up to 500% leverage, a daily decrement of 6.0% per annum, and caps daily leverage changes at 100%, which can materially affect performance. The estimated value at issuance is between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering market-linked, auto-callable medium-term notes due May 18, 2029 linked to the common stock of Oracle Corporation. Each $1,000 face security may pay a contingent coupon (at least $12.292 per $1,000, ~14.75% per annum) monthly if the stock meets the coupon threshold of 70% of the starting price. The notes are auto-callable on monthly call dates beginning November 2026 if the stock closing price is at or above the starting price. If not called, principal at maturity depends on the ending price versus a downside threshold equal to 80% of the starting price and includes a 20% buffer; investors have 1-to-1 exposure below the buffer and will not participate in upside or dividends. Original offering price is $1,000 and the estimated value at pricing is between $890 and $920 per $1,000 face amount.

GS Finance Corp. is offering leveraged, buffered notes linked to the EURO STOXX 50® Index due June 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash payment at maturity per $1,000 face amount based on index performance from the trade date (May 29, 2026) to the determination date (May 29, 2031). If the final index level exceeds the initial level, holders receive $1,000 + $1,000 × upside participation × underlier return (upside participation at least 160%). If the final level is down but within the 25% buffer (buffer level = 75% of initial), holders receive the face amount. If the final level is below the buffer level, holders suffer a loss equal to 1% of face for each 1% the index is below the buffer, potentially losing a substantial portion of principal. The notes are subject to issuer and guarantor credit risk, limited secondary-market liquidity, model valuation differences versus original issue price, and uncertain U.S. tax treatment.

GS Finance Corp. offers two separate tranches of Buffered Index‑Linked Notes guaranteed by The Goldman Sachs Group, Inc., each linked to a single index (the S&P 500® or the Russell 2000®).

Each note pays no interest, has a 100% participation rate, a 15% buffer (buffer level 85% of initial), and a cap (at least 175% for S&P and 205% for Russell) that limits upside to a stated maximum settlement amount. Trade date, original issue date, determination date and stated maturity are set on the trade date; expected trade date is May 26, 2026, original issue date May 29, 2026, determination date expected May 27, 2031, and stated maturity expected May 30, 2031. The pricing supplement discloses that the estimated value at term‑setting will be lower than the original issue price and emphasizes the notes' credit risk, discretionary calculation agent adjustments, potential for substantial principal loss, limited secondary market liquidity, and uncertain U.S. tax treatment.

GS Finance Corp. is offering leveraged callable index-linked notes due expected May 13, 2031, guaranteed by The Goldman Sachs Group, Inc. Payments are linked to the lesser-performing of the S&P 500® and Nasdaq-100® indexes. The notes pay no interest; the upside participation rate is 200% and a 50% trigger buffer level protects principal only if final index levels remain at or above 50% of initial levels. The issuer may redeem on monthly call payment dates beginning May 2027 through May 2028 for capped call premiums (ranging from 12.75% to 25.5%). Estimated model value at trade date is between $885 and $925 per $1,000 face amount. Holders are exposed to the credit risk of GS Finance Corp. and the guarantor and could lose their entire investment if the lesser-performing index falls below the trigger buffer.

GS Finance Corp. priced an autocallable contingent coupon equity-linked note linked to Chipotle Mexican Grill, Inc. stock with an initial underlier level of $33.99. The notes pay a contingent quarterly coupon of $38.625 per $1,000 (3.8625% quarterly; up to 15.45% per annum) when the underlier meets a 65% trigger. Notes are automatically called if the underlier is ≥ the initial level on a call observation date. If not called, maturity cash is cash-settled: investors receive $1,000 if the final level is ≥ the 65% trigger buffer, otherwise they suffer losses equal to the underlier return times $1,000—potentially losing their entire investment. Trade date: May 1, 2026; original issue date: May 6, 2026; stated maturity: May 4, 2027.

GS Finance Corp. is offering principal-protected contingent coupon notes linked to the VanEck Semiconductor ETF (SMH) with a stated maturity expected to be March 5, 2029. Each $1,000 note may pay a quarterly coupon of at least $38.75 (3.875% quarterly) only if the ETF closing level on an observation date is at least 80% of the initial ETF level. If not redeemed early, at maturity you receive $1,000 if the final ETF level is >= 80% of the initial level, or a reduced cash settlement that applies a 20% buffer if the ETF return is below that threshold. The issuer may redeem notes on coupon dates commencing December 2026 through December 2028 at 100% plus any coupon then due. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and subject to their credit risk. The trade date is expected to be May 29, 2026 and original issue date June 3, 2026. The pricing models estimate the notes' value at issuance between $925 and $965 per $1,000 face amount.

GS Finance Corp. is offering leveraged EURO STOXX 50® Index-Linked Notes due 2026, fully guaranteed by The Goldman Sachs Group, Inc. Payment at maturity depends on the underlier return from the trade date to the determination date. For each $1,000 face amount, if the final level exceeds the initial level you receive $1,000 plus participation (expected 137%–161%) times the underlier return; if the final level is equal or lower you receive $1,000 plus the underlier return (which can result in a loss up to the full investment). The notes pay no interest, are cash-settled, subject to issuer and guarantor credit risk, may not trade actively, and carry U.S. federal tax characterization uncertainty.

GS Finance Corp. is offering leveraged buffered S&P 500® index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and at maturity provide a cash payment per $1,000 face amount based on S&P 500 performance: 200% upside participation capped at a maximum settlement amount of $1,220, a buffer of 10% (buffer level 90%), trade date May 29, 2026, original issue date June 3, 2026, determination date May 30, 2028, and stated maturity June 2, 2028. If the final index level falls more than 10% below the initial level, investors lose proportionally of principal; if it falls but not more than 10%, investors receive the face amount. Terms, pricing and original issue price will be set on the trade date and are subject to the prospectus supplements and general terms referenced in this pricing supplement.

The pricing supplement offers GS Finance Corp. leveraged buffered notes linked to the S&P 500® Futures Excess Return Index with a stated maturity of May 30, 2031. Each $1,000 face amount returns either (a) $1,000 plus 158.2%+ of the underlier return if the final level is above the initial level, (b) $1,000 if the final level is between the initial level and the 70% buffer level, or (c) a reduced cash payment that declines 1% per 1% the underlier is below the buffer (buffer amount 30%, buffer rate 100%). The notes pay no interest, are cash-settled, and are unsecured senior obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. The offering price exceeds the notes’ model-derived estimated value; market liquidity and secondary market prices may be limited.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering S&P 500® Index-Linked Notes due 2028. Each $1,000 note pays at maturity either the face amount or a cash payment tied to the S&P 500 return, capped at a maximum settlement amount of $1,145. The notes do not pay interest. Key dates: trade date May 29, 2026; original issue date June 3, 2026; determination date May 30, 2028; stated maturity June 2, 2028. If the final index level is greater than the initial level, you receive $1,000 plus the index return up to the cap; if equal or lower, you receive $1,000. The notes rely on the issuer and guarantor creditworthiness, are taxable as contingent payment debt instruments for U.S. federal income tax purposes, carry limited secondary-market liquidity, and do not confer any rights in the underlying stocks.

GS Finance Corp. offers Autocallable Index-Linked Notes due 2029 guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the Nasdaq-100 and Russell 2000, include annual automatic call observations, and pay cash at maturity based on the lesser performing underlier. The notes have a trigger buffer level of 80% of an underlier's initial level, a stated maturity date of June 5, 2029, a determination date of May 29, 2029, and a disclosed maturity date premium amount of at least 40.50%. The notes do not bear interest and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.; if the final level of any underlier is below its trigger buffer level investors may lose up to their entire investment.

GS Finance Corp. is offering autocallable, contingent-coupon, index-linked notes guaranteed by The Goldman Sachs Group, Inc. The notes pay a monthly coupon of $5.834 per $1,000 (0.5834% monthly; potential ~7% per annum) if each index is >=70% of its initial level on an observation date. The notes may be automatically called if each index is >=105% on a call observation date. At maturity, if not called, repayment depends on the lesser performing index: if every index is >=70% of initial, holders receive $1,000 plus any final coupon; if any index is <70%, repayment is $1,000 plus $1,000 times the lesser performing index return, which can result in losses of principal. Trade date is expected to be May 18, 2026, original issue date expected May 21, 2026, and stated maturity expected May 25, 2029. The estimated value on the trade date is expected between $925 and $955 per $1,000 face amount. Payments are subject to the issuer and guarantor credit risk and tax characterization uncertainty.

GS Finance Corp. is offering Trigger Autocallable GEARS linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The securities pay no coupons, are automatically called if the index meets the autocall barrier, and mature in May 2031 with contingent principal repayment.

The key economics set on the trade date include an autocall barrier at 100.00% of the initial index level, upside gearing 1.50, a downside threshold 80.00%, and a call return expected between 12.30% and 13.30%. Estimated value at terms is $9.65–$9.95 per $10 face; original issue price is 100% of face amount. Minimum purchase is $1,000. Credit risk is of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Autocallable S&P 500® Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, can be automatically called on the call observation date for $1,100.50 per $1,000 face amount if the underlier closes at or above the initial level, and otherwise provide conditional cash settlement tied to the S&P 500 performance with a 125% upside participation and an 85% buffer level. The notes carry issuer and guarantor credit risk, may trade below purchase price in the secondary market, and could result in a total loss if the final underlier level is sufficiently low.

GS Finance Corp. is offering callable, contingent-coupon notes linked to the S&P 500® Index, due June 3, 2031, and guaranteed by The Goldman Sachs Group, Inc. The notes pay a quarterly contingent coupon of at least $18.375 per $1,000 if the index closing level on an observation date is ≥ the coupon trigger level (70% of the initial level). The issuer may redeem the notes on coupon payment dates beginning June 3, 2027. At maturity you would receive for each $1,000 face amount either $1,000 if the final underlier level is ≥ the trigger buffer level (70%), or $1,000 × (1 + underlier return) if below that level, meaning you could lose most or all of your investment. Trade date is May 29, 2026 and original issue date is June 3, 2026. The notes bear the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. is offering leveraged buffered notes due December 4, 2028, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face‑amount note links cash settlement to the S&P 500® Futures Excess Return Index performance from the trade date to the determination date.

The notes carry no periodic interest, an upside participation rate of at least 121% and a 15% buffer (buffer level = 85% of initial underlier). If the final underlier level falls within the buffer, the note returns the absolute underlier loss as a positive gain; if the final level falls below the buffer, investors lose value on a 1:1 basis below the buffer. The notes are linked to E‑mini S&P 500 futures (not the cash index) and are subject to roll yield, market disruption and issuer/guarantor credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable, buffered linked notes tied to the VanEck Semiconductor ETF (SMH). The notes mature on February 28, 2029 (expected) but may be redeemed at par plus any coupon on specified coupon dates between November 2026 and November 2028. Each $1,000 note pays a quarterly coupon of at least $32.50 (3.25% quarterly; up to 13% per annum) on a coupon date only if the ETF closing level on the related observation date is >= 80% of the initial level. At maturity, if the final ETF level is >= 80% of the initial level, holders receive $1,000 plus any final coupon; if below 80%, the cash settlement is reduced proportionally and may result in a substantial loss. The estimated value on the trade date is expected to be between $925 and $965 per $1,000 face amount. Terms, tax characterization, market‑making and credit risk of GS Finance Corp. and Goldman Sachs are described in the pricing supplement.

GS Finance Corp. is offering callable, cash‑settled notes linked to the S&P 500® Futures Excess Return Index, guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of May 26, 2026, an expected original issue date of May 29, 2026 and an expected stated maturity of May 29, 2031. The notes pay no interest. At maturity the cash payment per $1,000 face amount equals either: (i) $1,000 plus 2× the index return if the final underlier level is above the initial level; (ii) $1,000 if the final level is between 70% and the initial level; or (iii) $1,000 plus (index return + 30%)×$1,000 if the final level is below 70%, which can result in substantial losses. GS Finance may redeem the notes on specified monthly call payment dates beginning June 1, 2027; applicable call premium amounts will be set on the trade date and are shown as minimum percentages in the supplement. The estimated value on the trade date is stated as between $885 and $935 per $1,000 face amount.

GS Finance Corp. is offering S&P 500 Daily Risk Control 5% USD Excess Return Index‑linked notes due expected June 1, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the Excess Return index performance from the trade date (expected May 28, 2026) to the determination date (expected May 29, 2029).

If the final index level is greater than or equal to the initial level, holders receive principal plus the index return times an upside participation rate of at least 165%. If the final index level is lower, holders receive principal plus the absolute value of the index decline, subject to a maximum downside settlement amount of $2,000 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk. The estimated value on the trade date is between $925 and $965 per $1,000 face amount.

GS Finance Corp. offers callable S&P 500® index-linked notes due June 3, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have a 150% upside participation rate and an 85% buffer on the initial index level. If the final index level exceeds the initial level, holders receive 1.5× the index return; if the final level is between 85% and the initial level, holders receive the face amount; if below 85%, holders absorb downside with a formula that can materially reduce principal. Expected trade date is May 29, 2026. The estimated value at pricing is between $885 and $935 per $1,000 face amount. The issuer may redeem on specified monthly call dates beginning in June 2027 at preset call premiums; redemption is at the issuer’s sole option. Credit risk is that of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering autocallable S&P 500® Index-Linked Notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have a face amount of $1,000 per note and can be automatically called on the call payment date if the S&P 500 closing level on the call observation date is greater than or equal to the initial level.

If automatically called, each $1,000 note will pay at least $1,055 on the call payment date. If not called, at maturity the cash payment per $1,000 will equal $1,000 plus the upside participation (100%) times the underlier return if the final level exceeds the initial level; otherwise you will receive the face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable, monthly‑coupon notes tied to the common stocks of Advanced Micro Devices, UnitedHealth, Tesla and NVIDIA. The notes mature on the stated maturity date expected to be June 3, 2031 and may be automatically called on specified observation dates commencing in May 2027. Coupon payments for each $1,000 face amount are either the maximum coupon (at least $9.375 monthly) if every index stock on an observation date is >= 77.5% of its initial price, or the minimum coupon ($0.209 monthly) if any index stock is below that trigger. The trade date is expected to be May 26, 2026 and the original issue date is expected to be May 29, 2026. The estimated value at pricing is expected to be between $885 and $935 per $1,000 face amount, below the original issue price.