Goldman Sachs Group Inc SEC Filings

Goldman Sachs is offering $2 billion in Callable Fixed Rate Notes due 2045, with a 6.00% annual interest rate. The notes will be issued on June 25, 2025, with interest payments made annually on June 25, beginning in 2026.

Key features include:

• Callable by Goldman Sachs starting June 25, 2028, at 100% of principal plus accrued interest
• Redemption dates occur quarterly (March 25, June 25, September 25, December 25)
• Initial price to public is 100% with 0.8% underwriting discount
• Notes will be issued in book-entry form through DTC

The notes are not bank deposits, not FDIC insured, and not guaranteed by any bank. Distribution is split equally between Goldman Sachs & Co. LLC and InspereX LLC, each underwriting $1 million. Interest will be taxable to U.S. holders as ordinary income, with gains/losses from disposition treated as capital gains/losses.

Goldman Sachs Group has announced a $3.035 million fixed rate notes offering due 2028 with key terms including:

• Interest rate: 4.20% per annum, paid semi-annually in June and December
• Original issue date: June 25, 2025
• Maturity date: June 26, 2028
• Notes priced at 100% of principal amount with 0.4% underwriting discount
• Denominations of $1,000 and integral multiples thereof

The notes will not be listed on any securities exchange and are not bank deposits or FDIC insured. They include full and covenant defeasance provisions. Goldman Sachs & Co. LLC will serve as calculation agent. The offering includes restrictions on sales to retail investors in the European Economic Area and United Kingdom. Trading will settle through DTC in book-entry form.

Goldman Sachs announced a $2.1 million fixed-rate notes offering due in 2035, with key terms including:

The notes will carry a 5.00% annual interest rate, with payments made annually on June 25, starting June 25, 2026, through maturity on June 25, 2035. The offering is priced at 100% of principal with a 1.095% underwriting discount, resulting in 98.905% net proceeds to Goldman Sachs.

• Original issue date: June 25, 2025
• Denominations: $1,000 and integral multiples thereof
• Notes will not be listed on any securities exchange
• Full and covenant defeasance options available

Important disclosures: The notes are not bank deposits, not FDIC insured, and not guaranteed by any governmental agency. The offering includes restrictions on sales to retail investors in the European Economic Area and United Kingdom. Goldman Sachs & Co. LLC will serve as the calculation agent.

Goldman Sachs announced a $2 million offering of Callable Fixed Rate Notes due 2035 with key terms:

• Interest rate of 5.50% per annum, payable annually on June 25
• Original issue date: June 25, 2025
• Maturity date: June 25, 2035
• Callable quarterly after June 25, 2027 at 100% of principal plus accrued interest
• Initial price to public: 100%
• Underwriting discount: 1.05% ($21,000)

The notes will be issued under Goldman's Medium-Term Notes Series N program. They are not bank deposits and not FDIC insured. Distribution is split equally between Goldman Sachs & Co. LLC and InspereX LLC, each underwriting $1 million. The notes will be issued in book-entry form through DTC with minimum denominations of $1,000.

Goldman Sachs has filed a prospectus supplement for Autocallable Momentum Builder Focus ER Index-Linked Notes due July 27, 2032. The notes, issued by GS Finance Corp and guaranteed by Goldman Sachs Group, track the Goldman Sachs Momentum Builder Focus ER Index.

Key features include:

• Notes will be automatically called if index closes at or above call level on annual observation dates
• At maturity, payment based on index performance from trade date (July 18, 2025) to determination date (July 20, 2032)
• Index tracks performance of base index and cash positions with 5% volatility control
• Base index composed of 9 underlying indices across U.S. equities, developed markets, fixed income, emerging markets, and commodities
• Subject to 0.65% annual deduction and federal funds rate deduction

The estimated value at pricing is $850-$880 per $1,000 face amount, below the issue price. Notes carry credit risk of GS Finance Corp and Goldman Sachs Group, and are not FDIC insured.

Goldman Sachs Group has filed a prospectus supplement for Callable Fixed Rate Notes due 2035, offering $5.35% per annum interest rate. The notes are expected to be issued on July 22, 2025, with maturity on July 20, 2035.

Key features include:

• Interest payments will be made annually on July 22, starting July 22, 2026
• Notes are callable quarterly starting January 22, 2027, at 100% of principal plus accrued interest
• Minimum denomination of $1,000
• Notes will be issued in book-entry form through DTC

Important disclosures: The notes are not FDIC insured and not bank deposits. Goldman Sachs plans to release Q2 2025 earnings on July 16, 2025, before the trade date. The offering may terminate if there is significant adverse movement in credit spread. Distribution will be handled by Goldman Sachs & Co. LLC and InspereX LLC.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is issuing $595,000 face amount of Leveraged Buffered S&P 500 Futures Excess Return Index-Linked Notes due June 23 2028. The notes are unsecured senior obligations sold at 100% of face with a 1% underwriting discount and an estimated value of $963 per $1,000, reflecting a 3.7% pricing premium to investors.

The notes pay no periodic interest. Performance is tied to the S&P 500 Futures Excess Return Index (initial level 495.10). Key payoff mechanics per $1,000:

• Upside: If the index return is ≥0%, investors receive $1,000 plus 118.1% of the index gain.
• Moderate downside (0% to –20%): Investors receive a positive return equal to the absolute value of the index loss (e.g., –10% index → +10% note return).
• Severe downside (<–20%): Principal is at risk; payoff equals $1,000 × (index return + 20%). Maximum loss is 80% of principal.

The product offers a 20% downside buffer and leveraged upside participation but exposes holders to credit risk of GS Finance Corp./GS and potentially limited liquidity. GS&Co. may make a market but is not obligated to do so; any bid price before 20 Sep 2025 will include a declining premium of up to $37.

Important dates: Trade date 20 Jun 2025, issue date 25 Jun 2025, determination date 20 Jun 2028, stated maturity 23 Jun 2028.

The notes are part of GS Finance Corp.’s Medium-Term Notes, Series F program and are offered under prospectus supplements dated February 14 2025 and later amendments.