Goldman Sachs Group Inc. 424B Filings

GS Finance Corp. offers callable indexed notes backed by a Goldman Sachs guarantee. The notes pay a monthly coupon of $8.542 per $1,000 face amount (0.8542% monthly, ~10.25% per annum potential) when each underlier is at least 70% of its initial level. The notes reference the Russell 2000®, the S&P 500® and the State Street Consumer Staples Select Sector SPDR® ETF (initial levels set on April 30, 2026) and mature on the stated maturity date (expected May 5, 2031) unless automatically called beginning July 2026. Principal at maturity, if not called, depends on the lesser performing underlier and may result in substantial loss, including loss of the entire investment if an underlier falls below its trigger buffer of 65% of its initial level. The estimated value at pricing is $885–$925 per $1,000 face amount.

GS Finance Corp. is offering principal-protected‑style notes linked to the common stock of GE Vernova Inc., UPS Class B common stock and Broadcom Inc.. The notes have a face amount of $1,000 per note, expected trade date May 26, 2026, original issue date expected May 29, 2026, and a stated maturity date expected June 5, 2029. Coupons of $10.417 per $1,000 (1.0417% monthly, ~12.5% annualized) may be paid monthly only if each index stock meets a 60% coupon trigger on observation dates. Notes are automatically called if, on a call observation date, each index stock closes at or above its initial price; otherwise maturity payoffs depend on whether a trigger event occurs and on the performance of the lesser performing index stock. Estimated value at pricing is between $925 and $965 per $1,000 face amount. Payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering leveraged, buffered S&P 500® index-linked notes guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, pays no interest, and its maturity payment depends on S&P 500 performance from the trade date to the determination date. The notes provide a 150% upside participation rate subject to a maximum settlement amount (expected between $1,166.05 and $1,194.85 per $1,000 face amount). They include a 10% buffer (buffer level = 90% of the initial underlier level) and a buffer rate of approximately 111.11%. The determination date is expected between 17 and 20 months after the trade date and the stated maturity date is expected two business days after the determination date. Investors are subject to issuer/guarantor credit risk, limited upside due to the cap, potential full principal loss if the underlier falls sufficiently below the buffer, and uncertain U.S. federal tax treatment.

GS Finance Corp. is offering buffer autocallable notes linked to an unequally weighted basket of five equity indices, guaranteed by The Goldman Sachs Group, Inc. The notes feature an automatic call on the call observation date if the basket is at or above the autocall barrier and a buffered downside that protects the first 10.00% of basket declines at maturity.

Key terms set on the trade date include an May 13, 2026 trade date and an May 15, 2026 original issue date, an autocall observation date of May 20, 2027, and a stated maturity of May 15, 2029. Economic parameters: upside gearing expected between 1.776 and 1.976, autocall barrier 100.00%, downside threshold 90.00%, buffer 10.00%, and call return 11.00%. The estimated value on the trade date is between $9.30 and $9.60 per $10 face amount; original issue price is 100.00% of face with an underwriting discount of 2.50%.

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 and return a cash amount at maturity tied to the S&P 500® performance from the trade date to the determination date.

For each $1,000 face amount, investors receive either (1) $1,000 plus the underlier return subject to a maximum settlement amount of $1,204.50, (2) $1,000 if the final level is down but not more than the buffer level (80%), or (3) a reduced payment if the final level is below the buffer, where losses equal 1% of face for each 1% below the buffer (buffer amount 20%). Key dates include trade date May 14, 2026, original issue date May 19, 2026, determination date May 15, 2028, and stated maturity date May 18, 2028. The notes are subject to issuer and guarantor credit risk, limited upside due to the cap, model-valuation discounts at issue, and potential illiquidity.

GS Finance Corp. offers leveraged, callable notes linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 face denomination, an upside participation rate of 200%, an expected trade date of May 29, 2026 and an expected stated maturity of June 3, 2031. The issuer may redeem the notes on monthly call payment dates beginning in June 2027 at cash amounts capped by specified call premium amounts. If not redeemed, final payment at maturity depends on the index return measured between the trade date and the determination date; a positive index return would produce 2x participation, while a zero or negative index return yields only the face amount. Estimated value at pricing is stated between $885 and $935 per $1,000 face amount.

The offered notes are GS Finance Corp. leveraged buffered, Russell 2000® index‑linked notes due 2028, unconditionally guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount pays at maturity based on the underlier return with a 200% upside participation rate, a 10% buffer (buffer level 90%), and a capped maximum settlement amount of at least $1,302.5. The trade date is May 29, 2026, original issue date June 3, 2026, determination date May 30, 2028, and stated maturity June 2, 2028. Notes pay no interest, are cash‑settled, exposed to issuer/guarantor credit risk, and their original issue price exceeds the model‑based estimated value used by GS&Co.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering index-linked notes linked to the Russell 2000 and S&P 500. For each $1,000 face amount, the cash payoff at maturity is based on the lesser performing index return measured from the trade date to the determination date, subject to a maximum settlement amount of $1,277.50 and a minimum settlement amount of $950. The notes pay no interest; estimated value at pricing is $925 to $955 per $1,000 face. Trade date and original issue date are expected in May 2026, and the stated maturity is expected in May 2028. The notes are unsecured obligations subject to issuer and guarantor credit risk and may have limited liquidity.

GS Finance Corp. proposes non‑interest paying structured notes (guaranteed by The Goldman Sachs Group, Inc.) maturing in June 2027 linked to the lesser performing common stock of Synopsys, Inc. and Snowflake Inc.. The payoff uses initial prices set on April 30, 2026, a buffer price equal to 55% of each initial price and a buffer rate of approximately 181.82%. If both final prices on the determination date are at least 55% of their initial prices, holders receive a capped maximum settlement amount of at least $1,196.50 per $1,000 face amount; otherwise holders lose principal mechanically based on the lesser performing index stock and could lose their entire investment. Trade date, issue date and determination/maturity dates are set on the trade date (expected May 1, 2026), original issue date expected May 6, 2026, determination date expected June 1, 2027 and stated maturity expected June 4, 2027. The estimated model value on the trade date is between $925 and $955 per $1,000 face amount. GS&Co. is calculation agent with broad discretion over pricing, adjustments and postponements, and payments remain subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering autocallable notes linked to the Russell 2000® Index, guaranteed by The Goldman Sachs Group, Inc. The notes have annual call observation dates beginning one year after issuance and a stated maturity in May 2029; they pay no coupons and may be automatically redeemed if the index closes at or above a 100.00% autocall barrier on a call observation date. Call returns, set on the trade date, are based on a per annum rate between 13.00% and 13.65% and increase the longer notes remain outstanding. If not called, maturity payment equals $10 plus $10 times the index return, which can result in a loss up to the full investment. The estimated value at issuance is between $9.40 and $9.70 per $10 face amount; original issue price is 100.00% with a 2.00% underwriting discount. Minimum purchase is $1,000.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) offers non‑interest notes linked to the Class C shares of Alphabet, Class A shares of Meta and common shares of NVIDIA. The notes have a potential automatic call on a call observation date and a stated maturity; the upside participation rate is 125%.

If on the call observation date each index stock closes at least 90% of its initial price, the notes will be automatically called and pay at least $1,230 per $1,000 face amount. If not called, the maturity payout is based on the lesser performing index stock return, with positive returns multiplied by 1.25. The estimated value at terms set is between $885 and $935 per $1,000. Key dates set on the trade date include an expected trade date of May 26, 2026, original issue date expected May 29, 2026, call observation date expected May 26, 2028 and determination date expected May 27, 2031. The notes are unsecured obligations subject to issuer and guarantor credit risk.

GS Finance Corp. is offering Barrier Market-Linked Notes tied to the SPDR® Gold Trust (GLD), guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note, an expected trade date of May 13, 2026, original issue date May 15, 2026, determination date May 15, 2028, and stated maturity date May 22, 2028. Payment at maturity depends on whether a barrier event (GLD closing price exceeding an upper barrier on any trading day during the observation period) occurs. If a barrier event occurs, each $1,000 note pays $1,080 (an 8.00% contingent return). If no barrier event occurs and the final GLD price is above the initial price, payment equals $1,000 plus the ETF return, capped at between 38.00% and 43.00%. Estimated value at pricing is between $940 and $970 per $1,000 face amount. Payments are unsecured and subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable, equity‑linked notes tied to AAPL, AMZN, GOOG and NVDA. The notes have a monthly coupon of $7.292 per $1,000 face (0.7292% monthly; up to ~8.75% per annum) paid only if each index stock closes at or above 70% of its initial price on a coupon observation date. The notes are expected to trade on May 13, 2026, have an original issue date expected to be May 18, 2026, and a stated maturity expected to be May 20, 2031. Notes will be automatically called if, on any call observation date beginning in May 2027, each index stock closes at or above its initial price; automatic calls pay principal plus the coupon then due. The estimated value at term‑setting is expected to be between $885 and $925 per $1,000 face amount. The notes are unsecured obligations and expose investors to issuer and guarantor credit risk and limited anti‑dilution protection.

GS Finance Corp. is offering S&P 500® Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, does not pay interest, and returns at maturity either the face amount or a cash payment linked to the S&P 500 performance from trade date to the determination date, subject to a maximum settlement amount of at least $1,455 per $1,000 face amount. The trade date is May 14, 2026, original issue date is May 19, 2026, and the determination date is May 14, 2031. The notes carry issuer and guarantor credit risk, limited upside above the stated cap, potential secondary-market illiquidity, and special tax treatment as contingent payment debt instruments.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-at-risk, non-interest notes linked to one ordinary share of Eaton Corporation plc. The notes have a $1,000 face amount per unit, an automatic call feature that would pay $1,150 per $1,000 if the index stock closes at or above the initial price on the call observation date, an upside participation of 149.5%, and a buffer of 20% (buffer price = 80% of initial price). If not called, maturity payment depends on final share price versus the initial price; losses occur if the final price falls more than 20%. The notes carry issuer and guarantor credit risk; the estimated value on the trade date is expected between $925 and $955 per $1,000 face amount.

GS Finance Corp. priced an offering of structured, equity index-linked medium-term notes guaranteed by The Goldman Sachs Group, Inc., with an aggregate original face amount of $4,062,000. The securities are auto-callable on specified annual call dates (first call May 4, 2027) for fixed call premiums that rise each year to 42.80% at the final calculation day. If not called, maturity payoff depends on the Russell 20004 closing level on the final calculation day with a 10.00% buffer and up to 90.00% principal loss. The estimated initial model value was approximately $968 per $1,000 face amount; original offering price was $1,000.

GS Finance Corp. is offering callable Nasdaq-100 Index®-linked notes due May 5, 2031 with an aggregate original face amount of $1,982,000. Each note has a $1,000 denomination, an initial underlier level of 27,186.98 and a 100% upside participation rate.

Holders receive at maturity either (a) for a positive index return, $1,000 plus $1,000 times the index return, or (b) if the index return is zero or negative, $1,000. The issuer may redeem notes on monthly call payment dates from May 2027 through April 2031 at 100% of face plus a specified call premium. Estimated value at pricing was approximately $961 per $1,000; original issue price was 100% with a 3.25% underwriting discount (net proceeds 96.75%). Payments depend on the credit of GS Finance Corp. and the guarantor, The Goldman Sachs Group, Inc.

GS Finance Corp. offers $1,096,000 aggregate face amount of ETF-linked notes due May 2, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash settlement at maturity tied to the lesser performing of Invesco QQQ, Series 1 (initial level $661.57) and State Street SPDR S&P 500 ETF (SPY) (initial level $711.58) measured from the trade date April 29, 2026 to the determination date April 29, 2031. If both ETF returns are ≥0% you receive $1,000 plus 108.5% of the lesser ETF return per $1,000 face amount; if either ETF return is between -15% and 0% you receive $1,000; if the lesser ETF return is < -15% you receive $1,000 × (lesser ETF return + 15%). The estimated value on the trade date is approximately $950 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk.

GS Finance Corp. priced Market Linked Notes—Upside Participation to a Cap and Principal Return at Maturity linked to the S&P 500® Index, with a $1,000 face amount, pricing date April 29, 2026 and stated maturity May 2, 2030. Investors receive principal at maturity and participate 100% in any index increase, capped at a 27.80% maximum return (maximum maturity payment $1,278.00). The estimated model value on the pricing date was approximately $958 per $1,000 note; original offering price was $1,000. All payments are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering medium-term structured notes guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the S&P 500® Index, do not pay interest and have a capped cash settlement. For each $1,000 face amount, the issuer will pay at maturity either $1,000 (if the final underlier level is equal to or less than the initial level) or $1,000 plus the underlier return up to a maximum settlement amount of $1,242. The trade date is April 29, 2026, original issue date May 4, 2026, determination date April 30, 2029 (subject to adjustment) and stated maturity date May 3, 2029 (subject to adjustment). The notes are offered at 100% of face with a 0.7% underwriting discount and are payable in cash; holders have no shareholder rights in the underlier.

GS Finance Corp. priced structured, S&P 500®-linked notes guaranteed by The Goldman Sachs Group, Inc. The offering aggregates $2,702,000 of notes with an original issue price of 100% of face and a 2.55% underwriting discount. Each $1,000 note pays no interest and at maturity (stated maturity date May 4, 2028) delivers a cash settlement tied to the S&P 500 Index performance from the trade date to the determination date (May 1, 2028), with a 200% upside participation capped at a maximum upside settlement amount of $1,197.50 per $1,000. A 10% buffer (buffer level = 90% of the initial level) protects limited declines: absolute positive returns apply for declines up to 10%, but losses occur for declines beyond the buffer, exposing principal to substantial loss. The notes are callable only via cash settlement at maturity, are not interest-bearing, and are subject to issuer and guarantor credit risk and limited secondary liquidity.

GS Finance Corp. is offering Capped Buffer GEARS linked to the SPDR® Gold Trust (GLD), with a 2.00 upside gearing and a capped maximum settlement amount expected between $12.60 and $12.93 per $10 face amount. The notes provide leveraged upside up to a capped maximum return and a 10.00% buffer such that if the final ETF price is at or above 90.00% of the initial price you receive the face amount at maturity; if the final ETF price is below the downside threshold you incur losses, up to a 90.00% loss if the ETF price is zero. Payments are unsecured obligations of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., and any payment is subject to their creditworthiness. Trade date and original issue date are expected to be May 13, 2026 and May 15, 2026, with determination and stated maturity dates in May 2028. The estimated value on the trade date is expected to be between $9.30 and $9.60 per $10 face amount; the original issue price is 100% of face amount and the underwriting discount is 2.00%.

GS Finance Corp. priced Market Linked Notes — Upside Participation to a Cap linked to the Dow Jones Industrial Average® with a 100.00% upside participation rate, a 16.70% maximum return (maximum maturity payment $1,167.00 per $1,000 face) and principal return at maturity on February 1, 2029 (calculation day January 29, 2029). The pricing date was April 29, 2026 and original issue date is May 4, 2026. The notes pay no periodic interest or dividends, are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and had an estimated value at pricing of approximately $962 per $1,000 versus an original offering price of $1,000.

GS Finance Corp. is offering callable Dow Jones Industrial Average®-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount pays no interest and will return either $1,000 or $1,000 plus the product of $1,000 and the underlier return (100% participation) based on the closing DJIA level on the determination date of April 29, 2031. The issuer may redeem the notes on specified quarterly call payment dates beginning in May 4, 2027, with the cash redemption amount for each $1,000 capped by the applicable call premium. The estimated value on the trade date was approximately $965 per $1,000 face amount, with an original issue price of 100% and an underwriting discount of 2.5%.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering $947,000 of indexed notes that pay no interest and mature in 2028. Payment at maturity is linked to the S&P 500® Index measured from the trade date to the determination date. If the final index level is greater than or equal to the trigger buffer level (80% of the initial level), holders receive a capped maximum settlement amount of $1,160 per $1,000 face amount. If the final index level is below the trigger buffer level, investors lose 1% of principal for each 1% the index falls below the initial level and could lose their entire investment. The notes do not bear interest. Key dates: trade date April 29, 2026, original issue date May 4, 2026, determination date May 1, 2028, stated maturity date May 4, 2028. The offering carries an underwriting discount of 2.55% (net proceeds 97.45% of face).

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes that pay monthly coupons conditional on the performance of four index stocks: Micron, Oracle, Tesla and NVIDIA. The notes have a stated maturity expected to be May 15, 2031 and are callable monthly beginning in May 2027 if each index stock’s closing price on an observation date is at or above its initial price set on the trade date. Monthly coupons equal $10 per $1,000 face amount when every index stock closes at or above 70% of its initial price on the related observation date; otherwise no coupon is paid. The estimated value on the trade date is between $885 and $925 per $1,000 face amount. The notes are unsecured obligations subject to the issuer’s and guarantor’s credit risk, and GS&Co. acts as calculation agent with discretionary adjustment authority.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering contingent monthly coupon structured notes linked to Microsoft Corporation (MSFT). The offering aggregates $7,669,000 and has a per-note face amount of $1,000. Notes pay a contingent monthly coupon of up to $8.792 per $1,000 when the underlier closes at or above a 72% trigger on observation dates, include an automatic call if MSFT closes at or above the initial level on any call observation date, and mature on June 4, 2027 (determination date June 1, 2027). If not called, principal at maturity is tied to final MSFT performance versus the initial level ($424.46); losses can be 100% of invested principal below the 72% buffer. Original issue price is 100% of face amount; underwriting discount is 2.15%.

GS Finance Corp. prices autocallable notes linked to the S&P 500® Index, guaranteed by The Goldman Sachs Group, Inc. The offering sets annual call returns between 9.80% and 10.30% per annum, with call payment amounts ranging from $10.98 to $13.09 per $10 face if automatically called on scheduled observation dates. The notes trade date is May 4, 2026, original issue date May 6, 2026, determination date May 4, 2029, and stated maturity May 9, 2029.

The estimated model value at term-setting is between $9.40 and $9.70 per $10 face; underwriting discount is 2.00%, yielding net proceeds of 98.00% of face. Payments depend on index performance on call observation or determination dates and on the issuer/guarantor creditworthiness; holders may lose a substantial portion or all of their investment.

GS Finance Corp. offers buffered S&P 500® index-linked notes due expected to be June 2, 2031, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount will pay at maturity either (a) $1,000 plus a gain equal to the participation rate (at least 95%) times the index return if the final index level is above the initial level; (b) $1,000 if the final level is down by up to 10%; or (c) a reduced amount if the final level is below the 10% buffer, producing losses that can be substantial.

The pricing supplement states an estimated value on the trade date between $885 and $935 per $1,000 face amount, and that the notes do not bear interest, are unsecured, and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering two separate buffered index-linked notes guaranteed by The Goldman Sachs Group, Inc. Each note is linked to one index: the EURO STOXX 50® Index or the S&P 500® Futures Excess Return Index. The notes pay no interest and return at maturity depends on index performance from the trade date (expected May 26, 2026) to the determination date in 2031. Each note provides upside participation (at least 144% for EURO STOXX 50 and at least 170% for SPXFP) and a downside buffer (buffer levels of 75% and 80%, respectively). Estimated secondary-market values at issuance are shown as $885 to $935 per $1,000 face amount. Payments at maturity are cash-settled and may result in substantial principal loss if the final index level is below the buffer level; payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering notes linked to the iShares® MSCI EAFE ETF (EFA) that pay a cash amount at maturity based on the underlier's performance from the trade date to the determination date. The notes have an upside participation rate of 200% subject to a maximum upside settlement amount of $1,200 per $1,000 face. If the final underlier level is between the initial level and 75% of the initial level, the notes pay a positive return equal to the absolute underlier return. If the final level is below 75% of the initial level, investors suffer a proportional loss equal to the underlier return and could lose their entire investment. The notes bear no interest, have trade date April 29, 2026, stated maturity November 2, 2028, and are guaranteed by The Goldman Sachs Group, Inc. The original issue price is 100% of face, underwriting discount 2.75%, and net proceeds 97.25% of face.

GS Finance Corp. is offering principal-protected-style notes (face amount $1,000 each; aggregate face amount $482,000) linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER (initial underlier level 461.26, trade date April 29, 2026). The notes do not bear interest, may be automatically called beginning October 29, 2026 if the index on a call observation date is ≥90% of the initial level, and mature on May 6, 2031 if not called. The index applies a 6.0% per annum decrement, targets 40% volatility with up to 500% maximum leverage, and thus can magnify losses; the cash payoff at maturity is capped at $1,725.04 per $1,000 if the final underlier level is ≥90% of the initial level. The estimated value on the trade date was approximately $924 per $1,000 face amount; original issue price is 100% with a 4.3% underwriting discount.

GS Finance Corp. is offering leveraged, index-linked notes due 2031 guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no periodic interest; the cash payment at maturity depends on the EURO STOXX 50 Index performance from the trade date to the determination date. If the final underlier level is above the initial level, holders receive $1,000 plus the upside participation rate times the underlier return (upside participation rate at least 129.5%); if the final level is equal to or below the initial level, holders receive the face amount only. Trade date, determination date and maturity are set as: Trade date: May 29, 2026; Determination date: May 29, 2031; Stated maturity: June 3, 2031. The notes are treated as contingent payment debt instruments for U.S. federal income tax purposes and are subject to issuer and guarantor credit risk, limited secondary-market liquidity, and withholding/tax rules including FATCA and potential 871(m) considerations.

GS Finance Corp. offers 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 $1,000 face amount per note, an aggregate face amount of $735,000 on the original issue date and an initial underlier level of 575.29 (trade date April 29, 2026). At maturity the cash payment per $1,000 depends on the final underlier level versus the 575.29 initial level: positive participation of 222% on gains, a 20% buffer (80% buffer level), and a downside that can materially reduce principal. The issuer may redeem the notes on scheduled monthly call payment dates beginning May 4, 2027 at specified capped call premiums. The estimated value at issuance is approximately $967 per $1,000 face amount.

GS Finance Corp. priced contingent monthly‑coupon, principal‑at‑risk notes backed by The Goldman Sachs Group, Inc. guarantee. Each $1,000 note (aggregate face $1,007,000) pays a contingent monthly coupon of $8.75 if each underlier is >= 70% of its initial level on observation dates and matures May 4, 2029.

At maturity the cash payment is tied to the lesser performing underlier (Nasdaq‑100, Russell 2000, S&P 500); if that underlier is below 70% of its initial level you can suffer principal loss, potentially losing your entire investment. The issuer may redeem on coupon dates beginning May 2027.

GS Finance Corp. is offering Market Linked Notes—Upside Participation to a Cap and Principal Return at Maturity linked to the EURO STOXX 50® Index, with a 100.00% upside participation and a maximum return of 27.50% (maximum maturity payment $1,275.00 per $1,000 face amount). The notes mature on May 3, 2029 (calculation day April 30, 2029) and repay the face amount at maturity regardless of index performance, subject to issuer and guarantor credit risk. The original offering price is $1,000 per note; the estimated model value at pricing was approximately $960 per $1,000 face amount.

GS Finance Corp. priced principal-at-risk notes linked to the S&P 500® Futures Excess Return Index. The notes have an upside participation rate of 220%, a trigger buffer level of 75% (25% buffer), and an aggregate face amount of $1,122,000. If the final underlier level on the determination date is above the initial level, investors receive the face amount plus 220% of the underlier return. If the final level is at or above the trigger buffer level but below the initial level, investors receive the face amount. If the final level is below the trigger buffer level, investors suffer a loss proportional to the underlier decline and could lose their entire investment. The notes pay no interest, are issued at 100% of face, carry an underwriting discount of 1.125%, and mature in May 2031. The notes are obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc.; holders are exposed to issuer and guarantor credit risk.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers autocallable buffered notes linked to the S&P 500® Futures Excess Return Index. The notes have an expected trade date of May 4, 2026, an expected automatic call observation date of May 4, 2027 with an expected call payment of $1,093 per $1,000 face amount if the closing underlier level is greater than or equal to the initial level. If not called, the stated maturity is expected on May 9, 2028, and the cash settlement at maturity is based on the underlier return with a 20% buffer level: declines up to 20% convert to positive returns (absolute return), while declines beyond 20% produce losses below face amount. The notes pay no interest, are unsecured obligations subject to issuer and guarantor credit risk, and have an estimated value on the trade date of $925–$965 per $1,000 face amount. These notes are complex, potentially illiquid, and may cause substantial principal loss if the final underlier level falls below the buffer.

GS Finance Corp. is offering structured, non‑interest bearing notes linked to the Class A common stock of Cloudflare, Inc. The payment at maturity (stated maturity June 4, 2027) depends on the stock’s performance from the trade date April 29, 2026 to the determination date June 1, 2027. If the final index stock price is ≥80% of the initial price ($211.97), each $1,000 face amount pays a capped $1,373. If the final price is below 80%, losses accrue at a 125% buffer rate, which can result in a substantial loss of principal. The estimated value on the trade date was approximately $988 per $1,000 face amount. Investors are exposed to issuer and guarantor credit risk, limited anti‑dilution protection, discretionary adjustments by the calculation agent (GS&Co.), limited secondary market liquidity, and uncertain U.S. federal income tax treatment.

GS Finance Corp. is offering $1,000 face amount autocallable contingent coupon equity-linked notes due June 18, 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Class A common stock of Meta Platforms, Inc. and pay a contingent monthly coupon of $11.875 per $1,000 (1.1875% monthly; up to 14.25% per annum) when the underlier is at or above the coupon trigger level of 68% on an 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 depends on the final underlier level: payments are capped at 100% of face for sufficiently high final levels and can be as low as a pro rata percentage of face (for example, a 17.000% final underlier level yields 17.000% of face), exposing investors to potential loss of their entire investment.

Trade date is May 15, 2026 and original issue date is May 20, 2026. Key structural features include a coupon trigger level and trigger buffer level at 68% of the initial underlier level, calculation agent Goldman Sachs & Co. LLC, and material credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent‑coupon equity‑linked notes linked to the Class A common stock of Meta Platforms, Inc. The notes (per $1,000 face amount) may pay a contingent monthly coupon of $7.917 (0.7917% monthly, up to ~9.50% per annum) when the underlier closes at or above the coupon trigger level of 60% of the initial underlier level. 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, final cash settlement at maturity on May 9, 2028 will be $1,000 if the final underlier level is greater than or equal to the trigger buffer level (60%); if the final underlier level is below that buffer, the cash settlement will equal $1,000 plus $1,000 times the underlier return, which could result in the loss of the entire investment.

GS Finance Corp. priced structured notes (aggregate face amount $4,655,000) backed by a guarantee from The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10 per $1,000 (1% monthly, up to 12% per annum) only if each underlier equals or exceeds 70% of its initial level on the coupon observation date. The notes are linked to the Nasdaq-100, Russell 2000 and S&P 500; the cash settlement at maturity (or upon no automatic call) depends solely on the lesser performing underlier and can result in a complete loss of principal if that underlier falls to very low levels. The notes may be automatically redeemed early if, on any call observation date, each underlier is at or above its initial level; in that event holders receive $1,000 per $1,000 face amount plus the coupon then due. The trade date is April 29, 2026, original issue date May 4, 2026, and stated maturity date May 3, 2029. Credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., limited liquidity, uncertain tax treatment, and model/valuation assumptions are highlighted as principal risks.

GS Finance Corp. is offering S&P 500® Index-linked notes due June 3, 2031, fully guaranteed by The Goldman Sachs Group, Inc. The notes have a $1,000 face amount per note, pay no interest, and provide a cash payment at maturity based on the S&P 500 performance from the trade date to the determination date.

If the final index level is greater than the initial level, the payout equals $1,000 plus the underlier return on the face amount, capped at a maximum settlement amount of at least $1,530. If the final level is equal to or below the initial level, holders receive the face amount. Trade date is May 29, 2026 and original issue date is June 3, 2026; the determination date is May 29, 2031.

The notes are subject to the credit risk of GS Finance Corp. and its guarantor, may have limited secondary market liquidity, and will be treated for U.S. federal income tax purposes as contingent payment debt instruments.

GS Finance Corp. offers structured, cash‑settled notes linked to Edwards Lifesciences common stock (EW UN). The notes pay a contingent monthly coupon when the underlier closes at or above 72% of the initial level and may be automatically called if the underlier closes at or above the initial level on a call observation date. Holdings return at maturity depends on the final underlier level; investors can lose their entire investment if the final level is below the 72% trigger buffer. The notes are fully guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. priced zero‑coupon, basket‑linked notes (CUSIP 40059DLD7) due on the stated maturity date expected to be June 1, 2029. Each note has a $1,000 face amount and pays at maturity an amount tied to a weighted return of TOPIX, the S&P 500® and the EURO STOXX 50® measured from the trade date expected to be May 29, 2026 to the determination date expected to be May 29, 2029.

If the weighted return is positive, holders receive the face amount plus an upside participation (at least 100%) times the weighted return. If the weighted return is zero or negative but not below -15%, holders receive the face amount. If the weighted return is below -15%, holders suffer a pro rata loss and could lose the entire investment. The notes do not bear interest, are unsecured obligations of GS Finance Corp., and are guaranteed by The Goldman Sachs Group, Inc.

GS Finance Corp. is offering S&P 500®-linked principal-at-risk notes (aggregate face amount $1,065,000) that pay no interest and whose maturity payment depends on the S&P 500's performance from the trade date to the determination date. The notes feature a 200% upside participation rate subject to a $1,150 maximum settlement amount per $1,000 face and a stated maturity in June 2027. If the index finishes below the initial level, holders will suffer losses equal to the index decline (1% loss per 1% index decline) and could lose their entire investment. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., priced at 100% of face with an underwriting discount of 1.9333%.

GS Finance Corp. is offering structured, cash-settled notes linked to the S&P 500® Index with a stated maturity of February 1, 2029. Each $1,000 note returns either (1) $1,000 plus 200% upside participation in the index return capped at a $1,250 maximum settlement amount, (2) $1,000 if the final index level is no more than 15% below the initial level (the 85% buffer level), or (3) a pro rata loss if the index declines more than 15% below the initial level. The notes pay no interest, are senior unsecured obligations of GS Finance Corp. and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The original issue price is 100% of face amount and the underwriting discount is 2.85%.

GS Finance Corp. priced autocallable, index-linked notes due expected May 11, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100 and S&P 500 indices, include an automatic call feature (call observation expected May 13, 2027) and a capped call payment of $1,110 per $1,000 if called.

Maturity payoff depends on the lesser performing index: positive payoff = 125% participation in the lesser index gain; full principal returned if both indices finish ≥70% of their initial levels; losses (up to total principal) occur if the lesser index falls below 70%. Estimated value at terms set is $925–$955 per $1,000 face amount.

GS Finance Corp. offers $1,000‑face leveraged buffered MSCI EAFE Index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and the maturity payment depends on the MSCI EAFE index performance from the May 7, 2026 trade date to the May 7, 2029 determination date (stated maturity May 10, 2029), with an upside participation rate of 109% and a buffer that protects declines up to 20% (buffer level = 80% of initial). If the final index level is below the buffer, investors absorb proportional losses; the notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and subject to issuer and market risks.