Goldman Sachs Group Inc SEC Filings

Goldman Sachs has filed a Free Writing Prospectus for Autocallable Momentum Builder Focus ER Index-Linked Notes due 2032. The notes, issued by GS Finance Corp and guaranteed by Goldman Sachs Group, feature an automatic call provision and are linked to the Goldman Sachs Momentum Builder Focus ER Index.

Key features include:

• No interest payments
• Automatic call feature if index closes above call levels (ranging from 100.75% to 104.5%)
• Call returns ranging from at least 10% to 60% depending on call date
• 100% principal protection at maturity if not called
• Upside participation rate of 100% if held to maturity

The underlying index tracks a base index composed of nine indices across U.S. equities, developed markets, fixed income, emerging markets, and commodities, subject to a 5% volatility control mechanism. The estimated value range of $850-$880 is below the issue price, indicating significant embedded costs. Trading date expected July 30, 2025, with maturity on August 6, 2032.

Goldman Sachs has filed a Free Writing Prospectus for Market Linked Securities - Autocallable with Contingent Coupon, linked to the performance of Alphabet, Amazon, and Meta Platforms Class A common stocks, due July 21, 2028.

Key features include:

• Issuer: GS Finance Corp. with Goldman Sachs Group as guarantor
• Contingent coupon payment of at least 16.50% per annum ($41.25 per $1,000 face amount)
• Automatic call feature triggers if lowest performing stock exceeds starting price
• Downside threshold price set at 70% of starting price
• Estimated security value between $925-$955 per $1,000 face amount

Significant risks include potential loss of entire investment, credit risk of issuer/guarantor, and dependence on lowest-performing stock. Securities will be distributed through Wells Fargo Securities with 2.575% underwriting discount. Investment involves complex features beyond conventional debt securities.

Goldman Sachs has filed a Free Writing Prospectus for Buffered Performance Leveraged Upside Securities (PLUS) linked to the S&P 500 Index, due February 3, 2028. The securities offer 200% leveraged upside potential with a maximum payment cap of 121.40% of principal.

Key features include:

• Principal protection against first 10% of index decline (buffer)
• No periodic interest payments
• Minimum payment of $100 per $1,000 principal (90% maximum loss)
• Estimated value range: $900-$960, below issue price

The PLUS are unsecured notes issued by GS Finance Corp and guaranteed by Goldman Sachs Group. Investment risks include credit risk, limited upside potential due to the cap, potential loss of principal beyond buffer, and lack of dividend participation. The securities will price around July 17, 2025, with settlement expected July 22, 2025.

Goldman Sachs Finance Corp has announced S&P 500 Futures Excess Return Index-Linked Notes due August 1, 2030, guaranteed by Goldman Sachs Group. The notes offer a unique return structure based on the performance of E-mini S&P 500 futures contracts.

Key features include:

• Initial pricing date expected July 28, 2025 with maturity on August 1, 2030
• No interest payments; return based on index performance
• If index return is positive/zero: Minimum threshold settlement of $1,400 per $1,000 face value
• For negative returns above -30%: Positive return equal to absolute value of index decline
• For returns below -30%: Investors face full downside risk with potential total loss

The estimated value at issuance is $885-$935 per $1,000 face amount, below the issue price. Notes are not FDIC insured and carry issuer credit risk.

Goldman Sachs has announced Market Linked Notes due July 7, 2028, offering upside participation to a cap with principal protection at maturity. The notes are linked to the lowest performing stock among Amazon.com, Microsoft, and NVIDIA.

Key features include:

• Maximum return of 38.80% ($388.00 per $1,000 note)
• 100% upside participation rate up to the cap
• Principal protection if the lowest performing stock ends below its starting price
• Estimated value between $925-$955 per $1,000 face amount

Notable risks include credit risk of GS Finance Corp and Goldman Sachs Group, limited potential returns due to the cap, and exposure to the worst-performing stock among the three tech companies. The notes will be issued on July 7, 2025, with maturity on July 7, 2028. Underwriting discount is up to 3.325% of the face amount.

Goldman Sachs Finance Corp has filed a prospectus supplement for Buffered Digital S&P 500 Index-Linked Notes, guaranteed by Goldman Sachs Group. The notes, due October 15, 2026, offer a unique investment structure tied to S&P 500 Index performance.

Key features of the notes include:

• Face value: $1,000 per note
• Maximum return: $1,060 per note if index return ≥ -6%
• Buffer protection: Positive return equal to absolute value of index decline between -6% and -20%
• Downside risk: Losses of more than 1% begin if index declines beyond -20%
• Estimated value: Between $900-$940 per $1,000 face amount

The notes do not pay interest and carry significant risk, as investors could lose substantial value if the S&P 500 declines more than 20%. The initial index level will be set on July 18, 2025, with final determination on October 9, 2026. These notes are not FDIC insured and carry credit risk of Goldman Sachs.

Goldman Sachs Group has filed a prospectus supplement for Fixed Rate Notes due 2032, offering 4.55% per annum interest payable semi-annually. The notes will be issued on July 22, 2025, and mature on July 22, 2032.

Key features of the offering include:

• Notes will be issued in denominations of $1,000 and integral multiples thereof
• Interest payments scheduled for January 22 and July 22, starting January 22, 2026
• Original issue price is 100% of principal amount, with variations for certain fee-based advisory accounts
• Notes will not be listed on any securities exchange
• Securities are not FDIC insured and represent senior unsecured debt obligations

The offering includes restrictions on sales to retail investors in both the European Economic Area and United Kingdom. Goldman Sachs & Co. LLC will serve as the underwriter and calculation agent for the notes. The company plans to release Q2 2025 earnings on July 16, 2025, prior to the trade date.

Goldman Sachs Finance Corp has filed a prospectus supplement for Autocallable Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group. Key features include:

• Automatic Call Feature: Notes will be automatically called if both the Nasdaq-100 and S&P 500 indices close above their initial levels on July 31, 2026, paying $1,125 per $1,000 face amount
• Payment at Maturity: If not called, payment depends on the worst-performing index: - Above initial level: $1,000 + (200% upside participation) - Between 80-100% of initial level: $1,000 - Below 80% of initial level: Full 1:1 exposure to losses
• Key Terms: - Issue Date: August 5, 2025 - Maturity: August 9, 2027 - Estimated Value: $925-$965 per $1,000 face amount - Trigger Buffer Level: 80% of initial index levels

Investors face full downside risk below the buffer level and credit risk of Goldman Sachs. Notes do not pay interest.

Goldman Sachs is offering Leveraged Buffered S&P 500® Futures Excess Return Index-Linked Notes due 2028, issued by GS Finance Corp and guaranteed by Goldman Sachs Group. Key features include:

• Maturity Date: July 7, 2028
• Upside participation rate of at least 156% of the underlier's positive return
• 10% downside buffer - full protection against first 10% of losses
• Beyond buffer, 1:1 loss exposure below 90% of initial level
• Notes track S&P 500® Futures Excess Return Index, not direct S&P 500® performance

The estimated value at trade date ($925-$965 per $1,000) is less than the issue price, reflecting Goldman's costs and assumptions. Notes do not pay interest and involve significant risks, including potential loss of principal if the underlier declines more than 10%. Not FDIC insured.