GOLDMAN SACHS GROUP INC (GS) SEC Filings, Jul 15, 2026

GS Finance Corp., guaranteed by The Goldman Sachs Group, is offering principal-at-risk Contingent Income Auto-Callable Securities linked to the worst performer of the S&P 500, Russell 2000 and Nasdaq‑100 indexes, expected to mature on July 20, 2028. Each $1,000 denomination can pay a contingent quarterly coupon of at least $23.00 when, on the observation date, every index is at or above 65.00% of its initial level; otherwise the coupon for that quarter is zero.

The notes may be automatically called on quarterly dates starting in October 2026 if all indexes are at or above their initial levels, in which case investors receive $1,000 plus the coupon then due and no further payments. If the notes are not called and on the valuation date any index finishes below 65% of its initial level, the maturity payment equals $1,000 times the worst-performing index’s performance factor, potentially falling to $0, and no final coupon is paid. Investors do not participate in any index upside, are exposed to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, and the estimated value per $1,000 is $925–$985 versus a 100% issue price, reflecting selling concessions, hedging and other costs.

The Goldman Sachs Group, Inc. plans to issue U.S. dollar fixed rate notes due July 31, 2041 under its Medium‑Term Notes, Series N program. The notes pay 5.50% per annum, with interest paid annually on July 31, beginning July 31, 2027, and are issued in $1,000 denominations.

The initial public offering price is 100% of principal amount, with lower prices possible for certain fee-based advisory accounts that reduce underwriting discounts. The notes will not be listed on any securities exchange, are issued only in book‑entry form through DTC, and use a 30/360 (ISDA) day count convention. They are not redeemable at the issuer’s option before maturity and permit both full and covenant defeasance under the senior debt indenture.

Goldman Sachs & Co. LLC acts as calculation agent and underwriter, creating a FINRA Rule 5121 conflict of interest. For U.S. holders, interest is taxable as ordinary income, and the notes are generally subject to FATCA withholding rules. Offers to retail investors in the EEA and sales in several other jurisdictions are restricted.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing unsecured notes whose return is linked to a Class A subordinate voting share of Shopify Inc.. The notes are expected to price on July 20, 2026, issue on July 23, 2026, and mature on July 25, 2029, unless automatically called earlier.

Holders receive a conditional quarterly coupon of $49.375 per $1,000 face amount (4.9375% quarterly, potential up to 19.75% per year) whenever Shopify’s closing price on a coupon observation date is at least 50% of the initial index stock price; otherwise the coupon is zero. Starting in January 2027 through April 2029, the notes are automatically called if on a call observation date the stock closes at or above the initial price, paying $1,000 per $1,000 face amount plus the coupon then due.

If the notes are not called, principal repayment depends on the final stock price on the July 20, 2029 determination date. If the final price is at least 50% of the initial price, investors receive $1,000 plus any final coupon. If it is below 50%, repayment equals $1,000 plus the index stock return times $1,000, so losses increase one-for-one with the stock and up to the entire principal can be lost, with no coupon. The estimated economic value at pricing is expected to be $925–$955 per $1,000, below the $1,000 issue price, and investors take the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc., with limited liquidity and no shareholder rights in Shopify.

The Goldman Sachs Group, Inc. plans to issue Medium‑Term Notes, Series N, due July 31, 2036. These fixed rate notes are expected to bear interest at 5.25% per annum, to be finalized on the July 29, 2026 trade date. Interest is paid annually on July 31, starting in 2027, using the 30/360 (ISDA) day‑count convention. Notes are issued in fully registered, book‑entry form through DTC in minimum 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. There is no issuer call option before maturity, but full and covenant defeasance are available under the senior debt indenture. Goldman Sachs & Co. LLC acts as underwriter and calculation agent, creating a conflict of interest addressed under FINRA Rule 5121. Certain fee‑based advisory accounts may purchase at prices below par, which reduces the underwriting discount on those sales.

For U.S. investors, interest is taxable as ordinary income and dispositions generally give rise to capital gain or loss; the notes are subject to FATCA withholding rules. Offers and sales are restricted in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland, where distribution is limited mainly to institutional or professional investors under local securities regulations.

GS Finance Corp., guaranteed by The Goldman Sachs Group, is offering auto-callable, zero-coupon notes linked to the common stock of Microsoft Corporation. The notes pay no interest and return depends entirely on Microsoft’s share performance and Goldman Sachs’ credit.

Your notes are automatically called on the July 29, 2027 call observation date if Microsoft’s closing price is at or above the initial index stock price, paying $1,150 per $1,000 on August 3, 2027. If not called, at the August 2, 2029 stated maturity the payoff is: 1.275× the stock’s positive or flat return; the absolute value of negative returns down to a 35% drop; and full 1:1 downside once the stock falls more than 35%, so you can lose your entire investment.

The trigger buffer price is 65% of the initial index stock price, and the upside participation rate is 127.5%. The estimated economic value on the trade date is $925–$955 per $1,000 of face amount, below the 100% issue price due to fees, hedging costs and dealer margin. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and may have limited or no secondary market liquidity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering unsecured auto-callable notes linked to the Class A common stock of CrowdStrike Holdings, Inc., the common stock of Microsoft Corporation and the common stock of Snowflake Inc. The notes are expected to trade date on July 20, 2026, be issued on July 23, 2026, and mature on July 25, 2029, unless automatically called.

On monthly observation dates from August 2026, investors receive a contingent coupon only if each stock’s closing price is at least 60% of its initial price; the coupon accrues at $18.959 per $1,000 (1.8959% monthly, up to approximately 22.75% per annum) using a cumulative formula. From July 2027 to June 2029, the notes are automatically called if on any call observation date every stock closes at or above its initial price, returning face amount plus the then-accrued coupon.

If not called, principal repayment depends on a trigger test at maturity. If at least one stock finishes at or above its initial price, investors receive the full $1,000 per note plus the final coupon if each stock is at or above 60% of its initial price. If all three finish below their initial prices and any is below 60%, repayment is reduced one-for-one with the worst-performing stock’s percentage decline, and investors can lose their entire investment and receive no coupon. The estimated value on the trade date is $925–$955 per $1,000 face amount, reflecting structuring costs, and all payments are subject to the credit risk of GS Finance Corp. and its guarantor, with no FDIC insurance and limited liquidity.

GS Finance Corp. is offering Trigger Autocallable Contingent Yield Notes linked to the EURO STOXX 50 Index and the Nasdaq-100 Index, guaranteed by The Goldman Sachs Group, Inc. The notes are unsecured obligations and not bank deposits or FDIC insured.

The notes pay a contingent quarterly coupon of $0.25 per $10 face amount (up to 10.00% per annum) only when each index closes at or above its coupon barrier, set at 70.00% of its initial level. From January 2027, if both indices are at or above their initial levels on an observation date, the notes are automatically called and repay face amount plus that coupon.

If not called, and on the July 14, 2031 determination date either index finishes below its 70% downside threshold, investors receive $10 plus the lesser-performing index return times $10, potentially losing all principal and any final coupon, paid on the July 17, 2031 stated maturity date. The estimated economic value is $9.55–$9.85 per $10 versus a $10 issue price, with a 2.25% underwriting discount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon equity-linked notes due July 26, 2029, linked to the common stock of Intel Corporation.

The notes pay a conditional quarterly coupon of $79.375 per $1,000 face amount (7.9375% quarterly, with the potential for up to 31.75% per annum) on each coupon payment date only if Intel’s closing level on the related coupon observation date is at or above the coupon trigger level, set at 50% of the initial underlier level. If the notes are not called, at maturity investors receive $1,000 per note only if the final Intel level is at or above the trigger buffer level, also 50% of the initial level; otherwise repayment of principal is reduced one-for-one with Intel’s decline, and the investment can be completely lost.

The notes are automatically called, returning $1,000 per note plus the applicable coupon, if Intel closes at or above its initial level on any call observation date. The original issue price is 100% of face amount, including a 2% underwriting discount, with 98% of face amount as net proceeds to the issuer.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, a highly leveraged index targeting 40% volatility with exposure of up to 500% and a fixed 6% per annum daily decrement.

The notes pay a conditional monthly coupon of $14.167 per $1,000 (1.4167%, up to ~17% annually) for months when the index closes at or above 70% of its initial level; missed coupons are not made up. Starting in July 2027, the notes are automatically called if the index is at or above its initial level, returning principal plus the then‑due coupon.

If the notes are not called, principal repayment in July 2032 depends on final index performance. A 60% trigger buffer applies: at or above this level, principal is repaid; below it, losses match the index decline and can reach 100% of invested principal. Payments rely on the credit of GS Finance Corp. and The Goldman Sachs Group, Inc., and the estimated economic value is $885–$925 per $1,000 face amount.