Goldman Sachs Group Inc. 424B Filings

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering callable, index-linked notes maturing around August 30, 2032, tied to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and may be automatically called starting in August 2027 if the index is at least 85% of its initial level, in which case holders receive $1,000 plus a call premium (e.g., 18.8004% on the first call date). If not called, at maturity investors receive up to a maximum of $2,128.024 per $1,000 (a 112.8024% maturity premium) if the index is at least 85% of its initial level; full principal back if the index is down no more than 40%; and a 1:1 loss below a 60% trigger buffer, with the possibility of total loss. The underlier targets 40% volatility using up to 500% leverage and applies a 6.0% annual decrement, which systematically drags performance. The estimated initial value is $885–$925 per $1,000, below issue price, and investors bear the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering ETF-linked notes due August 21, 2031, whose payoff depends on the lesser performer of the State Street Financial Select Sector SPDR ETF (XLF) and the State Street Health Care Select Sector SPDR ETF (XLV). The notes pay no interest and are unsecured obligations of GS Finance Corp., fully guaranteed by Goldman Sachs Group Inc.

At maturity, for each $1,000 note, investors receive: enhanced upside of 175.5% of the lesser ETF’s gain if both ETFs are at or above their initial levels; full principal repayment if each ETF is at or above 70% of its initial level; or a dollar-for-dollar loss based on the weaker ETF if any ETF finishes below 70%, with up to 100% loss of principal. The notes’ estimated value at pricing is expected between $885 and $925 per $1,000, reflecting embedded fees and dealer margins, and secondary market liquidity and pricing are not assured. U.S. tax treatment is uncertain and based on a prepaid derivative characterization.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

Goldman Sachs Group Inc. (GS), via GS Finance Corp. as issuer and Goldman Sachs as guarantor, is offering Medium-Term Notes, Series F with an aggregate face amount of $15,565,000. These are 5-year contingent income, auto-callable notes linked to the Dow Jones Industrial Average, Nasdaq-100 Index and Russell 2000 Index.

Each $1,000 note can pay a monthly coupon of $10.125 (1.0125% per month, up to 12.15% per year) only if on the relevant observation date the closing level of each index is at or above 70% of its initial level. If any index is below that 70% coupon trigger, the coupon for that month is $0.

The notes are automatically called if, on any call observation date from November 12, 2026, the closing level of each index is at or above its initial level; investors then receive $1,000 per note plus the coupon due, ending the investment early. If never called, at maturity on August 15, 2031, investors receive $1,000 per note only if the final level of every index is at or above 70% of its initial level. If any index finishes below 70%, principal is reduced one-for-one with the worst-performing index, potentially to $0, so investors can lose their entire investment.

The notes offer no participation in index gains beyond full principal return and coupons, carry the credit risk of GS Finance Corp. and Goldman Sachs, may have limited or no secondary market, and involve uncertain U.S. tax treatment with possible ordinary income on coupons and withholding for some non-U.S. holders.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering unsecured, GS-guaranteed structured notes linked to the S&P 500® Futures 35% VT Adaptive Response 6% Decrement Index (USD) ER (“SPAR35V6”). All payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc.

The index provides rules-based exposure to the S&P 500® Futures Excess Return Index with daily volatility targeting at 35%, use of calendar and price-pattern signals, and leverage up to 450%, subject to a 100% daily change cap. A 6% per annum daily decrement is deducted from the index level even when uninvested, reducing returns and deepening losses. Materials emphasize that most performance shown is hypothetical backtested data from 2005 onward and that such results differ from actual performance and exclude product fees.

Risk disclosures highlight leverage risk, volatility targeting risk, potential for significant drawdowns, complex signal-based rebalancing, deviations from S&P 500® performance, negative roll yields from futures, and that notes may not be suitable for all investors. The notes are not bank deposits, are not insured by the FDIC or any government agency, and may have limited or no secondary market liquidity.

Goldman Sachs Group, Inc. (GS), via GS Finance Corp., is offering $6,984,000 of S&P 500® Index-Linked Notes due August 15, 2031, guaranteed by Goldman Sachs Group. The notes pay no interest. Instead, at maturity investors receive cash based on compounded “period returns” measured on quarterly observation dates from November 2026 to August 2031.

For each observation date, the period return equals the interim S&P 500 return, capped at 3.4% if positive; is 0% if between 0% and -15%; and is the interim return plus a 15% buffer if below -15%. The payoff for each $1,000 is $1,000 multiplied by the product over all observation dates of (100% + period return). The maximum possible redemption is $1,951.68972251 per $1,000, achievable only if every interim return meets or exceeds the 3.4% cap. A large negative quarter (e.g., interim return below approximately -62.02%) can produce an overall loss even if all other quarters hit the cap, and investors may lose a substantial portion of principal.

The original issue price is 100% of face, with a 0.75% underwriting discount and 99.25% net proceeds to GS Finance Corp. The estimated value on the trade date is approximately $976 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp., fully guaranteed by Goldman Sachs Group, and are not bank deposits or FDIC insured.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp and a guarantee from The Goldman Sachs Group, Inc., is issuing auto-callable index-linked notes tied to the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER, maturing August 15, 2031.

The notes pay conditional quarterly coupons of $20 per $1,000 (2% per quarter, up to 8% per year) only when the index is at or above 55% of the initial level of 943.83. Starting May 2027, the notes are automatically called if the index is at or above 87% of the initial level, returning principal plus the applicable coupon.

If the notes are not called and the final index level is below the 55% trigger buffer, repayment is reduced one-for-one with index loss and can fall to zero, so principal is at risk. The underlier itself uses up to 500% leverage, a 40% volatility target and a daily 4%-per-annum decrement, which can drag returns. The estimated value is about $912 per $1,000 at pricing, below the 100% issue price, and investors take the unsecured credit risk of GS Finance Corp and the guarantor.

Goldman Sachs Group Inc. (GS), through issuer GS Finance Corp., is offering medium-term, dual-underlier structured notes linked to the Dow Jones Industrial Average and the S&P 500 Index with an aggregate face amount of $1,530,000. The notes pay a contingent monthly coupon of $5.834 per $1,000 (0.5834% monthly, up to about 7.00% per annum) only if, on each observation date, the closing level of both indices is at or above 55% of its initial level.

At maturity on August 16, 2029, if not previously redeemed, investors receive for each $1,000 face amount: $1,000 if the final level of each underlier is at or above its 55% trigger buffer level, or otherwise $1,000 plus $1,000 times the lesser performing underlier return, which can result in up to a 100% loss of principal. There is no upside above par even if the indices rise.

The notes are callable at the company’s option, in whole but not in part, on any coupon payment date from February 2027 through July 2029, at $1,000 per $1,000 face amount plus any due coupon. The notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by Goldman Sachs Group Inc., subject to their credit risk. They will not be listed on any securities exchange, may have limited liquidity, and their initial issue price exceeds the model-based estimated value. U.S. tax treatment is uncertain and relies on a prepaid derivative characterization.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering Medium-Term Notes, Series F that are equity index-linked, auto-callable structured securities tied to an unequally weighted basket of five global equity indices. Each security has a $1,000 face amount, no interest payments, and is guaranteed by Goldman Sachs.

The notes may be automatically called on August 26, 2027 if the basket level is at or above the starting level, paying $1,000 plus a call premium of at least 11.15%. If not called, at August 24, 2029 maturity investors receive leveraged upside at a 125% participation rate, full repayment if the basket decline is within a 25% threshold, and 1‑for‑1 downside below that, with potential loss of all principal. The estimated value at pricing is $890–$920 per $1,000, below the offering price, and all payments are subject to GS Finance Corp. and Goldman Sachs credit risk.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering $459,000 aggregate face amount of unsecured, index-linked notes tied to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and mature on August 17, 2033, but may be automatically called starting in February 2027 if the index closes at least 91% of the initial level of 550.19 on a call observation date.

If called, holders receive $1,000 plus a call premium (e.g., 7.2504% on the first call date), with premiums rising over time. If not called, maturity payment depends on index performance: if the final level is at least 91% of the initial level, investors receive the maximum settlement of $2,015.056 per $1,000; if the final level is between 60% and 91%, principal is returned; below 60%, losses are one-for-one and can reach 100% of principal. The underlier uses up to 500% leverage and a 6% per annum decrement, which magnifies losses and drags performance. The estimated value at pricing is about $911 per $1,000, below the 100% issue price, reflecting a 4.3% underwriting discount and fees, and investors are exposed to the credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering Nasdaq-100 Index® and S&P 500® Index-linked notes with an aggregate face amount of $1,000,000 under its Medium-Term Notes, Series F program, fully and unconditionally guaranteed by Goldman Sachs. For each $1,000 note held to the August 17, 2027 stated maturity (trade date August 12, 2026, determination date August 12, 2027), investors receive: (i) if the final level of both indices exceeds their initial levels (29,742.60 for the Nasdaq-100 and 7,748.50 for the S&P 500), $1,000 plus the lesser performing underlier return, capped at a maximum settlement amount of $1,073 (107.300% of face); or (ii) if either index is at or below its initial level, only the $1,000 face amount. The notes pay no periodic interest and do not provide dividends or voting rights in the index stocks. Market value and realized return are sensitive to index performance, volatility, interest rates, and to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. U.S. tax counsel expects treatment as short-term debt instruments with contingent payments, generally deferring income recognition until sale, exchange, or maturity, though alternative tax characterizations are possible.

Goldman Sachs Group, Inc. (GS), as guarantor for GS Finance Corp., is offering index-linked Medium-Term Notes, Series F, with an aggregate face amount of $2,374,000. The notes are linked to the MSCI EAFE Index and the EURO STOXX 50® Index and pay no interest.

At maturity, for each $1,000 note, investors receive: $1,000 plus 231% of the lesser performing underlier return if both final index levels exceed their initial levels; $1,000 if any index is at or below its initial level but both remain at or above 65% of their initial levels (the trigger buffer level); or $1,000 plus $1,000 times the lesser performing underlier return if either index falls below its trigger buffer level, which can result in a total loss of principal.

The initial underlier levels are 3,249.60 for the MSCI EAFE Index and 6,533.99 for the EURO STOXX 50® Index. The trade date is August 12, 2026, the determination date is August 12, 2031, and maturity is August 15, 2031. The original issue price is 100% of face amount, with a 0.6% underwriting discount and 99.4% net proceeds to the issuer. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and Goldman Sachs, may have limited liquidity, and involve additional risks related to foreign equity markets, currency effects (for MSCI EAFE), and uncertain U.S. tax treatment as a pre-paid derivative contract.

Goldman Sachs Group, Inc. (GS), via GS Finance Corp., is offering autocallable index-linked notes due 2034 tied to the Nasdaq-100 Index® and the S&P 500® Index. The notes do not pay interest and are fully and unconditionally guaranteed by Goldman Sachs Group, Inc.

The notes can be automatically called on August 23, 2027 if, on August 18, 2027, each index is at or above its initial level; in that case investors receive 109.75% of face value ($1,097.50 per $1,000) and the investment ends early. If not called, at maturity in August 2034 investors receive: (i) $1,000 plus 100% of the lesser-performing index’s gain if both indices finish above their initial levels, or (ii) only the $1,000 face amount if either index is flat or down.

The structure offers principal repayment at maturity but no downside equity participation and no periodic coupons. Key risks include the credit risk of GS Finance Corp. and Goldman Sachs Group, potential illiquidity and secondary market discounts, an initial estimated value below the issue price, sensitivity to interest rates and index volatility, and treatment as contingent payment debt instruments for U.S. tax purposes, which can require annual taxable income without cash payments.

GOLDMAN SACHS GROUP INC (GS), through its subsidiary GS Finance Corp., is offering Nasdaq-100 Index®-linked Medium-Term Notes, Series F, fully and unconditionally guaranteed by Goldman Sachs. The aggregate face amount is $408,000, with notes issued at 100% of face amount, an underwriting discount of 1.75%, and net proceeds to the issuer of 98.25% of face amount.

For each $1,000 note held to the stated maturity date of August 17, 2028, investors receive: (i) if the final Nasdaq-100 Index® level exceeds the initial level of 29,742.60, a cash amount of $1,000 + ($1,000 × underlier return) capped at a maximum settlement amount of $1,150; or (ii) if the final level is equal to or below the initial level, $1,000. The notes do not bear interest and payments depend on GS Finance Corp. and Goldman Sachs credit. The tax disclosure states the notes are treated as contingent payment debt instruments for U.S. federal income tax, using a 4.72% comparable yield and a projected payment at maturity of $1,099.34 per $1,000 for accrual purposes.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering no‑interest, autocallable structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER maturing on or about August 30, 2032. The index uses up to 500% leverage, targets 40% volatility and deducts a 6.0% per annum daily decrement, so it will lag a similar index without this fee and can amplify losses.

The notes may be automatically called quarterly from August 2027 if the index is at or above its initial level, paying $1,000 plus a call premium (starting at 29.0004% and rising to 171.5857%) per $1,000. If never called, and the final index level is at least the initial level, investors receive the maximum settlement amount of $2,740.024 per $1,000. If the index falls but remains at or above 60% of the initial level, principal is returned; below that “trigger buffer level,” repayment is linearly reduced and investors can lose their entire investment. The notes are unsecured obligations of GS Finance Corp. guaranteed by Goldman Sachs Group Inc., with an estimated fair value of $885–$925 per $1,000, less than the 100% issue price.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering auto-callable structured notes linked to the S&P 500® Futures 35% VT Adaptive Response 6% Decrement Index (USD) ER, maturing on the expected stated maturity date of August 19, 2031. The notes pay a conditional coupon of $47.50 per $1,000 (4.75% quarterly, up to 19% per annum) on each quarterly payment date if the index is at least 70% of its initial level on the related observation date; otherwise no coupon is paid. Starting in February 2027, the notes are automatically called if the index is at or above its initial level on an observation date, returning principal plus the applicable coupon. If not called, at maturity investors receive principal back only if the final index level is at least 50% of the initial level; below that trigger buffer level, repayment is reduced one-for-one with the index decline and can fall to zero, so the entire investment can be lost. The underlier applies a 35% volatility target, up to 450% maximum leverage, and a daily 6.0% per annum decrement, which systematically drags performance versus an identical index without the decrement and can magnify losses. The estimated value on the trade date is expected to be $885–$935 per $1,000 face amount, below issue price, and all payments are subject to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as guarantor.

GOLDMAN SACHS GROUP INC (GS), through its subsidiary GS Finance Corp., is issuing S&P 500®-linked Medium-Term Notes, Series F, with an aggregate face amount of $558,000, fully and unconditionally guaranteed by Goldman Sachs. For each $1,000 note held to August 17, 2028, investors receive: (i) if the S&P 500® final level exceeds 7,748.50, $1,000 plus the index return, capped at a maximum settlement amount of $1,132.50; or (ii) if the final level is at or below 7,748.50, only the $1,000 face amount.

The notes do not bear interest and are principal-protected at maturity but offer capped equity-linked upside and no dividends or shareholder rights in the index stocks. The original issue price is 100% of face, with a 1.75% underwriting discount and 98.25% net proceeds to GS Finance Corp. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, with a comparable yield of 4.72% per annum and a projected maturity payment of $1,099.34 per $1,000, requiring annual accrual of ordinary income before any cash is received. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any exchange, and secondary market liquidity and pricing depend on market conditions and any market-making by Goldman Sachs & Co. LLC.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering S&P 500®-linked Medium-Term Notes, Series F, with an aggregate face amount of $590,000. The notes are auto-callable, pay no interest, and are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.

The notes may be automatically called on August 24, 2027 if the S&P 500® closing level on the August 19, 2027 call observation date is at or above the initial level of 7,748.50, in which case holders receive $1,075 per $1,000. If not called, at maturity on August 15, 2031 investors receive (a) upside at a 125% participation rate if the index is above the initial level, (b) full principal back if the index is between 65% and 100% of the initial level, or (c) a buffered loss if the index is below 65%, with exposure to declines beyond a 35% buffer.

The notes do not provide dividends or shareholder rights in S&P 500® constituents and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value at pricing is lower than the 100% issue price, secondary market liquidity is uncertain, and the U.S. tax treatment is described as uncertain.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering index-linked notes due 2030 tied to the MSCI EAFE Index and EURO STOXX 50 Index. The notes are fully and unconditionally guaranteed by Goldman Sachs.

For each $1,000 note at maturity, if both underliers finish above their initial levels, investors receive $1,000 plus 215% of the lesser performing index’s gain. If any underlier is at or below its initial level but both stay at or above 70% of initial, investors receive only the $1,000 face amount. If any underlier finishes below 70% of its initial level, repayment is $1,000 times the lesser performing underlier return, so principal losses match the index decline and investors could lose their entire investment. The notes pay no interest and are subject to the credit risk of GS Finance Corp. and Goldman Sachs, valuation/model risk, foreign equity and currency risk, tax uncertainty and limited or no secondary market liquidity.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering unsecured, auto-callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 4% Decrement Index (USD) ER. The notes are expected to trade from an August 14, 2026 trade date to an expected August 23, 2032 maturity, unless automatically called quarterly from February 2027.

Investors may receive a fixed coupon of $18.334 per $1,000 (1.8334% monthly, up to ~22% per year) for any month when the index is at least 70% of its initial level; no coupon is paid below that threshold. At maturity, if not called and the index is at or above 50% of its initial level, principal is returned; below 50%, repayment is reduced one-for-one with index losses, down to a total loss.

The underlier uses up to 500% leverage, a 40% volatility target and a daily 4.0% per annum decrement, and can be significantly uninvested, all of which can magnify losses and cause underperformance versus the S&P 500®. The estimated value on the trade date is $885–$925 per $1,000 face amount, below the 100% issue price, and payments are subject to the credit risk of GS Finance Corp. and its parent guarantor.

GOLDMAN SACHS GROUP INC (GS), via subsidiary GS Finance Corp., is offering Medium-Term Notes, Series F, fully and unconditionally guaranteed by Goldman Sachs. These are structured notes linked to three equity indices: the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index.

The notes have an aggregate face amount of $4,439,000, issued at 100% of face, with a contingent monthly coupon of $7.917 per $1,000 (0.7917% monthly, up to about 9.5% per year) paid only when the closing level of each underlier on the observation date is at least 75% of its initial level. The notes are automatically called, returning $1,000 per $1,000 of face plus any due coupon, if on a call observation date each underlier is at least its initial level.

If not called, payment at maturity depends solely on the lesser performing underlier. If its final level is at least 70% of its initial level, investors receive full principal back (plus any final coupon if trigger conditions are met). If it is below 70%, principal is reduced one-for-one with that underlier’s loss, and investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., are not bank deposits, and are not insured by the FDIC. The estimated value at pricing is lower than the issue price, and secondary market value may be volatile and illiquid.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering auto-callable, contingent-coupon notes linked to the S&P 500® Futures 35% VT Adaptive Response 6% Decrement Index (USD) ER, maturing on or about August 17, 2029. The notes pay a quarterly coupon of $37.50 per $1,000 (3.75%, up to 15% per year) only if, on each observation date, the index is at or above 60% of its initial level; otherwise no coupon is paid.

Starting in February 2027 through May 2029, the notes are automatically called if the index is at or above its initial level, returning face value plus the applicable coupon. If not called, at maturity investors receive full principal only if the index is at or above 60% of its initial level; below that, repayment falls one-for-one with the index and can drop to zero, meaning total loss of principal.

The underlier is a highly complex, rules-based, leveraged futures index targeting 35% volatility, with exposure of up to 450% and a fixed 6% per annum decrement deducted daily, which drags performance versus a similar index without this fee-like feature. The estimated initial value is $925–$965 per $1,000 note, and payments are subject to the unsecured credit risk of GS Finance Corp. and its guarantor, The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (through issuer GS Finance Corp.) is offering structured notes linked to the iShares Semiconductor ETF (SOXX) that do not bear interest and are fully exposed to the issuer’s and guarantor’s credit risk. The notes are expected to be issued on August 19, 2026 and mature on October 19, 2027, with payoff based solely on the ETF level on the determination date, expected October 14, 2027.

For each $1,000 face amount, investors receive: (i) 200% upside participation in the ETF return, capped by a maximum settlement amount of $1,560 (cap level 128% of initial level); (ii) full principal back if the ETF closes at or above the 90% trigger buffer level; or (iii) a linear loss matching the ETF’s negative return if the final level is below 90%, with the possibility of losing up to 100% of principal. The estimated initial value is $925–$955 per $1,000, below the issue price, reflecting dealer margin and costs. The original issue price is 100% of face amount, with a 2% underwriting discount and 98% net proceeds to GS Finance Corp.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured, autocallable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and are scheduled to mature on August 30, 2032, unless automatically called starting in February 2027 when the index closes at or above 95% of its initial level.

If called, investors receive $1,000 plus a call premium (beginning at 12.1254% and rising over time) per $1,000 face amount. If not called and the final index level is at least 95% of the initial level, investors receive the capped maximum of $2,455.048 per $1,000 (a 145.5048% premium). If the index falls but stays at or above 60% of the initial level, principal is returned at maturity; below that trigger buffer, losses are one-for-one and investors can lose their entire investment.

The underlier is a highly complex, leveraged (up to 500%) futures-based index with a 40% volatility target and a 6.0% per annum daily decrement, which drags performance and ensures the index will lag a similar index without such a fee. The estimated value at pricing is $885–$925 per $1,000, below the issue price, and investors are exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured, guaranteed structured notes linked to equal-weighted “index stocks” in NVIDIA, Alphabet Class A, Microsoft, and Apple. The notes pay contingent monthly coupons and may be automatically called before maturity.

For each $1,000 face amount, investors can receive a $7.50 coupon (0.75% monthly, up to 9% per year) on any observation date when the closing price of each index stock is at least 80% of its initial price. If any stock is below 80%, the coupon for that month is $0. Starting in August 2027, if on a call observation date every index stock is at or above its initial price, the notes are automatically redeemed at $1,000 plus the then‑due coupon.

If not called, the notes are scheduled to mature on September 2, 2031, paying $1,000 per note plus any final coupon. The initial trade date is expected to be August 27, 2026. The issuer highlights that the modeled estimated value at pricing is only $885–$925 per $1,000, below the 100% issue price, and that investors are exposed to the unsecured credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., with limited liquidity and complex anti‑dilution and market‑disruption adjustment mechanics.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp as issuer and Goldman Sachs Group as guarantor, is offering unsecured, buffered notes linked to the iShares Semiconductor ETF (SOXX), maturing on or about October 19, 2027. The notes pay no interest and repayment depends entirely on SOXX’s performance between the expected trade date of August 14, 2026 and the determination date of October 14, 2027.

For each $1,000 note, investors receive: (i) a leveraged upside of 200% of the ETF’s positive return, capped by a maximum settlement amount of $1,390 (a 39% maximum gain), once the final level reaches 119.5% of the initial level; (ii) full principal repayment if the ETF falls by up to 10% (buffer level at 90% of the initial level); and (iii) a loss of principal on a 1‑for‑1 basis beyond the 10% buffer via the buffer formula. A large decline in SOXX could lead to a significant loss of invested principal.

The original issue price is 100% of face value, with a 2% underwriting discount and 98% net proceeds to GS Finance Corp. The notes’ estimated value at pricing is expected between $925 and $955 per $1,000, reflecting model-based factors and embedded costs. Payments are subject to the credit risk of GS Finance Corp and Goldman Sachs Group, and secondary market liquidity or pricing is not assured.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering $10,690,000 of Buffer Autocallable GEARS notes linked to the EURO STOXX 50® Index, guaranteed by Goldman Sachs. Each note has a $10 face amount and matures in 2029, unless automatically called in 2027.

The notes offer 1.74x upside gearing, a 15.00% call return if the index is at or above the 100.00% autocall barrier on the call observation date, and a 10.00% buffer via a downside threshold at 90.00% of the initial index level of 6,533.99. Below the downside threshold, principal loss is 1% for each 1% additional index decline, up to a 90% loss if the index is zero.

The estimated value is $9.75 per $10 face amount, lower than the issue price, reflecting fees and dealer economics. The notes pay no interest or dividends, are unsecured and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and may have limited secondary market liquidity.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering unsecured, non‑interest‑bearing notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes may be automatically called quarterly from February 2027 if the index closes at or above its initial level, paying $1,000 plus a call premium (starting at 14.5002% and rising over time).

If never called, at maturity in August 2032 investors receive: (i) the maximum settlement amount of $2,740.024 per $1,000 if the index is at or above its initial level; (ii) full principal back if the index has declined by up to 40%; or (iii) a 1:1 loss beyond that, down to total loss of principal. The underlying index targets 40% volatility with up to 500% leverage and applies a 6.0% per‑annum decrement, which continuously drags performance. The estimated value at pricing is expected between $885 and $925 per $1,000, below the issue price, and returns are also subject to the credit risk of GS Finance Corp and The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes tied to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest, are scheduled to trade on August 20, 2026 and mature on August 25, 2032, unless automatically called earlier.

Each note has a $1,000 face amount. If the notes are not called and the index is at least 103% of its initial level on the determination date, investors receive a maximum of $1,720 (a 72% maturity return); otherwise they receive $1,000. Annual call dates from 2027–2031 can trigger automatic redemption at preset call levels with call returns rising from 12% to 60%. The index is a rules-based, volatility- and momentum-controlled strategy that can allocate heavily to cash and is calculated on an excess-return basis with a 0.65% per annum deduction, which can materially reduce index performance. Estimated value is $885–$935 per $1,000, below the issue price, and payments are subject to the credit risk of GS Finance Corp. and its guarantor.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp and with a guarantee from The Goldman Sachs Group, Inc., is offering unsecured structured notes linked to the common stock of NVIDIA, Alphabet Class C, AMD and Tesla. The notes pay conditional monthly coupons of $6.542 per $1,000 face amount (0.6542% monthly, up to approximately 7.85% per annum) only if on each coupon observation date the closing price of each index stock is at least 82% of its initial price.

The notes may be automatically called on monthly observation dates from August 2027 through July 2033 if all stocks are at or above 82% of their initial prices, in which case investors receive $1,000 per note plus the applicable coupon, and no further payments. If not called, at maturity (expected August 31, 2033) holders receive $1,000 per note plus any final coupon, regardless of stock performance, subject to issuer and guarantor credit risk.

The minimum denomination is $1,000. The trade date is expected to be August 26, 2026, and the original issue date August 31, 2026. Goldman Sachs estimates the initial economic value at $885–$925 per $1,000 face amount, below the 100% issue price, reflecting fees, hedging and model assumptions. The notes are not bank deposits, are unsecured, and are treated as contingent payment debt instruments for U.S. federal income tax purposes, leading to taxable deemed interest based on a comparable yield rather than only on cash coupons.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering principal-at-risk Performance Leveraged Upside Securities (PLUS) linked to an equally weighted basket of 10 U.S. and foreign energy/industrial stocks. Each PLUS has a $1,000 stated principal amount, no interest payments, and is guaranteed by The Goldman Sachs Group, Inc.

At maturity in September 2027, holders receive $1,000 plus 150% of any positive basket return, capped at a maximum payment of at least $1,411.00 per PLUS. If the final basket value is at or below the initial basket value of 100, repayment equals $1,000 multiplied by the basket performance factor, with no downside protection; a 40% basket decline results in $600 per PLUS, and a total loss is possible.

The PLUS will not be listed, and secondary market liquidity depends on Goldman Sachs & Co. LLC, which is not obligated to make a market. The estimated value at pricing is expected to be $900–$960 per $1,000 PLUS, below the issue price, reflecting underwriting discounts, fees and structuring costs. Investors are exposed to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc., and to complex tax, market, and structural risks described in detail in the supplement.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering principal-at-risk Contingent Income Auto-Callable Securities linked to a common share of Ferrari N.V., expected to mature on August 24, 2029, and fully guaranteed by The Goldman Sachs Group, Inc.

Each $1,000 security may pay a contingent quarterly coupon of at least $25.75 if, on the relevant observation date, Ferrari’s share price is at or above 65% of the initial share price. The notes are auto-called if on any call observation date the stock is at or above the initial share price, returning $1,000 plus the coupon then due, with no further payments.

If not called, and the final share price is at or above the downside threshold (65% of initial), investors receive $1,000 plus the final coupon; otherwise the payoff equals $1,000 multiplied by the share performance factor (final/initial), exposing investors 1-to-1 to downside below the threshold and potentially to a total loss. The original issue price is 100% of principal, with an estimated value of $910 to $970 per security and an underwriting discount of 2.25%.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

Goldman Sachs Group Inc. (GS), via subsidiary GS Finance Corp., is offering market-linked notes tied to the S&P 500® Index, expected to price on or about August 31, 2026 and mature on September 3, 2032, with a guarantee from Goldman Sachs Group Inc.

The notes pay no interest and return at least the $1,000 principal at maturity if held to maturity. Investors receive 100% leveraged upside to the S&P 500 index percent change, capped by a maximum payment at maturity of at least $1,590 per $1,000 note (at least 159% of principal); gains above an index level of 159% of the initial value are not passed through. If the index is flat or down, the maturity payment is $1,000.

The original issue price is 100% of principal, with a 3.50% underwriting discount and 96.50% net proceeds to the issuer. The estimated value is $890–$950 per note, below issue price, and will decline with an additional built-in amount amortizing to zero. The notes are unsecured, unsubordinated obligations, subject to the credit risk of GS Finance Corp. and Goldman Sachs Group Inc., will not be listed, and may be treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of taxable income before any cash is received.

Goldman Sachs Group Inc. (GS), through GS Finance Corp., is offering unsecured, unlisted structured notes linked to an equally weighted basket of six alternative asset manager stocks (Apollo Global Management, Ares Management, Blackstone, The Carlyle Group, KKR, and TPG). The basket has an initial level of 100, with each stock initially weighted at approximately 16.667%.

The notes pay no interest and return at maturity (September 15, 2027) depends solely on basket performance from the trade date (August 11, 2026) to the determination date (September 13, 2027). If the final basket level exceeds the initial level, investors receive 3× the basket return, capped at a maximum settlement amount of $1,396 per $1,000 face amount (a 39.6% maximum gain), with a cap level of 113.2% of the initial basket level. If the basket return is zero or negative, the payoff equals $1,000 plus $1,000 times the basket return, exposing investors to full downside, including potential 100% loss of principal.

The aggregate initial face amount is $750,000, sold at 100% of face with a 0.82% underwriting discount and 99.18% net proceeds to the issuer. The estimated value on the trade date is approximately $959 per $1,000, below the issue price, reflecting structuring and distribution costs and model-based pricing. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and investors do not receive dividends or shareholder rights in the basket stocks.

Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering $1,200,000 of autocallable buffered notes linked to the iShares Semiconductor ETF (SOXX). The notes pay no interest and mature on August 15, 2030, unless automatically called on August 12, 2027.

If on the call observation date SOXX is at or above the initial level of $534.20, the notes are redeemed for $1,350 per $1,000 face amount on August 17, 2027. If not called, at maturity investors receive $1,000 plus 1.4× any positive ETF return; if SOXX is down up to 20%, they receive $1,000 due to a 20% buffer. Below the 80% buffer level, losses accelerate at 1.25% per 1% further decline, and investors can lose their entire principal.

The notes’ estimated value at pricing is about $997 per $1,000, below the issue price, reflecting structuring and distribution costs. Returns depend on SOXX’s level only on the call observation and determination dates, and payments are subject to the credit risk of GS Finance Corp. and the Goldman Sachs Group, Inc., along with ETF tracking, sector concentration and tax risks.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering unsecured, zero-coupon structured notes linked to an equally weighted basket of five U.S. stocks (AMD, Hewlett Packard Enterprise, Lam Research, Robinhood Markets and ServiceNow). The basket has an initial level of 100 and each stock carries a 20% weight with specified initial prices.

The notes mature on August 14, 2031 but are subject to an automatic call from August 11, 2027 onward if the basket is at least 90% of its initial level, paying $1,000 plus a fixed call premium (starting at 17% and rising to 80.75%) per $1,000 face amount. If not called, maturity payoff depends on the basket return: full upside at a 100% participation rate if the final basket level is at or above 100; full principal back if the basket is between 50 and 100; and a loss matching the negative basket return if the basket falls below the 50% trigger buffer, which can result in a loss of most or all principal.

The aggregate face amount on the issue date is $1,111,000, sold at 100% of face with a 4.125% underwriting discount, yielding 95.875% of face in net proceeds. The estimated value is approximately $920 per $1,000 at pricing, reflecting fees and Goldman Sachs’ pricing models. The notes pay no interest, do not pass through dividends on the basket stocks, and expose investors to the credit risk of GS Finance Corp. and the guarantee of The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp. as issuer and Goldman Sachs as guarantor, is offering Buffered Performance Leveraged Upside Securities ("PLUS") linked to the S&P 500® Index, maturing on or about March 5, 2029. These are unsecured, principal-at-risk structured notes that pay no interest and are not listed on any exchange.

For each $1,000 PLUS, investors receive 200% of any positive index return, capped by a maximum payment at maturity of at least $1,243.50. Principal is fully returned if the index is flat or down by up to the 10.00% buffer amount. Below that, losses match index declines beyond the buffer, with a minimum payment of $100.00. The underlying is the S&P 500® Index, the valuation date is expected to be February 28, 2029, and all payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc. The original issue price is 100% of principal, with an estimated value between $905 and $965 per PLUS and a 3.00% underwriting discount.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering S&P 500® Index-linked trigger buffer notes with an aggregate face amount of $2,670,000 under its Medium-Term Notes, Series F program. For each $1,000 note held to maturity, if the final S&P 500 level is at or above 80% of the initial level of 7,728.20, investors receive a capped amount of $1,130, a 13% maximum return; the upside is fully capped above this level.

If the final index level is below 80% of the initial level, the payoff is $1,000 + ($1,000 × underlier return), resulting in a 1-for-1 loss with the index decline and potential loss of the entire investment. The notes pay no interest, are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and will not be listed on any exchange. The original issue price is 100% of face amount, with a 0.6% underwriting discount and 99.4% net proceeds to the issuer. The estimated value at pricing is lower than the issue price, and secondary market values may be significantly below face value. Tax treatment is uncertain; investors are required to treat the notes as a pre-paid derivative contract, and the notes are generally subject to FATCA rules.

Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering buffered S&P 500® Index-linked notes due 2028 under its Medium-Term Notes, Series F program. Each note has a $1,000 face amount and is linked to the S&P 500® Index level from August 11, 2026 to August 11, 2028.

The notes pay no interest. At maturity, investors receive cash based on index performance: full participation in gains up to a maximum upside settlement amount of $1,202.50 per $1,000, and a “buffer” on losses so that declines of up to 20% (buffer amount) generate positive returns via the absolute return feature. If the index ends below 80% of its initial level, principal is reduced 1% for each 1% drop below the buffer level, so investors can lose a substantial portion of principal.

The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by Goldman Sachs Group, Inc., and are subject to their credit risk. They will not be listed on any exchange, and any secondary market making by GS&Co. is discretionary. The tax treatment is uncertain; the issuer intends to treat the notes as a pre-paid derivative contract with potential FATCA and section 871(m) considerations.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering Trigger Autocallable Contingent Yield Notes due 2031 linked to the lesser performance of the Nasdaq‑100 Index and the SPDR S&P MidCap 400 ETF. Investors receive quarterly contingent coupons of $0.2625–$0.275 per $10 face amount (about 10.50%–11.00% per year) only when both underliers close at or above a coupon barrier of 70% of their initial level on each observation date.

Starting February 2027, the notes are automatically called if both underliers are at or above their initial levels, returning the $10 face amount plus the due coupon, with no further payments. If not called and on the final observation both underliers are at or above the 70% downside threshold, principal is repaid with the final coupon. If any underlier finishes below its downside threshold, repayment is reduced one‑for‑one with the negative return of the lesser performer and investors can lose all principal. The notes are unsecured, not listed, have an estimated initial value of $9.75–$9.99 per $10, and all payments depend on the creditworthiness of GS Finance Corp. and its parent guarantor.

Goldman Sachs Group Inc. (GS), via GS Finance Corp., is offering Trigger Autocallable Contingent Yield Notes due August 19, 2031, linked to the lesser performer of the Nasdaq‑100 Index and the State Street SPDR S&P MidCap 400 ETF Trust. The notes are senior unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by Goldman Sachs Group Inc.

Each $10 note may pay a contingent quarterly coupon between $0.2125 and $0.225 (up to 8.50%–9.00% per year) only if on the relevant observation date the closing level of both underliers is at or above a coupon barrier set at 70.00% of each initial level. From February 2027, the notes are automatically called if both underliers are at or above their initial levels, returning $10 per note plus the applicable coupon, with no further payments.

If the notes are not called, and on the August 14, 2031 determination date both underliers are at or above 70% of their initial levels, investors receive $10 plus the final coupon. If any underlier finishes below its 70% downside threshold, repayment is reduced dollar‑for‑dollar with the percentage loss of the lesser performing underlier, and investors can lose their entire principal. The estimated value at pricing is $9.55–$9.85 per $10, below the 100% issue price, and any repayment depends on the credit of GS Finance Corp. and Goldman Sachs Group Inc.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering $26,275,300 of Trigger Callable Contingent Yield Notes due August 16, 2029, linked to the worst performer of the S&P 500, Russell 2000 and Nasdaq‑100 indices and guaranteed by Goldman Sachs.

The notes pay a $0.285 quarterly contingent coupon per $10 (up to 11.4% per year) only if on every trading day in the prior observation period each index stays at or above 70% of its initial level. Principal is protected at maturity only if each index is at or above 60% of its initial level; otherwise repayment is reduced one‑for‑one with the decline of the worst index and can fall to zero. GS may redeem the notes at par plus coupon on any quarterly coupon date from November 2026 through May 2029, regardless of index performance. The minimum investment is $1,000 (in $10 increments). Any payments depend on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc., the notes may be illiquid, and the initial estimated value of $9.96 per $10 is below the issue price.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp., is offering autocallable, index-linked notes due August 18, 2033, tied to the Goldman Sachs Momentum Builder Focus ER Index. The notes pay no interest and are fully and unconditionally guaranteed by Goldman Sachs.

The notes can be automatically called annually from 2027–2032 if the index is at or above preset call levels (from 101.50% to 109.00% of the initial level). On a call, holders receive $1,000 plus a fixed call premium (from 18.25% up to 109.50%). If not called, at maturity investors receive $1,000 plus 100% of any positive index return; if the final index level is at or below the initial level, they receive $1,000 only.

The index is a rules-based, daily rebalanced portfolio with a 5% volatility control, momentum risk control and an annual 0.65% deduction, and may be heavily allocated to hypothetical cash positions. The issuer’s estimated value on the trade date is $850–$890 per $1,000 face amount, below the original issue price, reflecting fees and hedging costs. Repayment is subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.