Goldman Sachs Group Inc SEC Filings

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.

Goldman Sachs Group has filed a prospectus supplement (424B2) for Fixed Rate Notes due 2028. The notes will offer a 4.10% annual interest rate with semi-annual payments on January 22 and July 22, starting January 22, 2026.

Key offering details:

• Original issue date: July 22, 2025
• Maturity date: July 24, 2028
• Denominations: $1,000 and integral multiples thereof
• Notes will be issued at 100% of principal amount (varying between unspecified % and 100% for certain investors)
• Interest calculated using 30/360 (ISDA) day count convention

The notes will not be listed on any securities exchange. They are not bank deposits and are not FDIC insured. Goldman Sachs plans to release Q2 2025 earnings on July 16, 2025, prior to the trade date. Investors may withdraw purchase orders before the trade date if there is significant adverse movement in credit spread.

Goldman Sachs Finance Corp has filed a prospectus supplement for Leveraged S&P 500 Futures Excess Return Index-Linked Notes due 2029, guaranteed by Goldman Sachs Group. The notes offer exposure to E-mini S&P 500 futures contracts performance with an upside participation rate of at least 202%.

Key features include:

• Maturity Date: July 6, 2029
• If final underlier level exceeds initial level: Return = upside participation rate × underlier return
• If final underlier level is equal/below initial level: 1:1 downside exposure with potential for total loss
• No interest payments

The estimated value of notes at trade date is $905-$955 per $1,000 face amount, below the original issue price. The notes are not bank deposits, not FDIC insured, and carry issuer/guarantor credit risk. They track futures contract performance rather than direct S&P 500 Index exposure.

Goldman Sachs Finance Corp has issued $3.718 million in Autocallable Contingent Coupon Equity-Linked Notes due 2027, guaranteed by Goldman Sachs Group. The notes are linked to the performance of Microsoft, Amazon, and Tesla stocks.

Key features include:

• Monthly coupon of $11.25 per $1,000 (13.5% p.a.) if all stocks close above 50% of initial prices
• Automatic call feature if all stocks close at or above initial prices on quarterly observation dates
• Initial stock prices: Microsoft $486.00, Amazon $208.47, Tesla $348.68
• Risk of principal loss if trigger event occurs (all stocks below initial price) at maturity and any stock closes below 50% of initial price

The notes' estimated value is $956 per $1,000 face amount, with an original issue price of 100% and underwriting discount of 1.75%. The investment carries credit risk of both GS Finance Corp and Goldman Sachs Group.

Goldman Sachs Finance Corp has issued $699,000 in Buffered Digital S&P 500 Futures Excess Return Index-Linked Notes due 2030, guaranteed by Goldman Sachs Group. The notes track the performance of E-mini S&P 500 futures contracts with the following key features:

The payment at maturity structure includes:

• If final underlier level ≥ initial level: Greater of $1,503 or $1,000 + ($1,000 × underlier return)
• If final level is below initial but above 80% buffer level: Return of $1,000 face amount
• If final level is below buffer level: Loss of 1% for every 1% decline below buffer level

Key details: Initial underlier level: 499.95, Maturity: June 27, 2030, Buffer level: 80% of initial level, No interest payments. The estimated value of $958 per $1,000 face amount is less than the issue price, indicating premium pricing. Notes carry credit risk of both GS Finance Corp and Goldman Sachs Group.

Goldman Sachs Finance Corp is offering Callable Contingent Coupon Index-Linked Notes due July 17, 2028, guaranteed by Goldman Sachs Group. The notes are linked to the performance of the Russell 2000 Index and S&P 500 Index.

Key features include:

• Quarterly coupon payments of at least $20 (2% or up to 8% annually) if both indices close at or above 70% of initial levels
• Company can redeem notes at 100% face value plus due coupon on payment dates from January 2026 to April 2028
• At maturity, if not redeemed: Full principal returned if both indices are above 70% of initial levels; below that threshold, investors face losses proportional to the worst-performing index

The estimated value at pricing is $925-$955 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. Trading expected to begin July 16, 2025.