Goldman Sachs Group Inc SEC Filings

Goldman Sachs (GS) filed a preliminary 424(b)(2) pricing supplement for monthly coupon autocallable notes linked to the S&P 500 Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes may mature on November 19, 2030, unless automatically called on monthly observation dates starting in May 2026 if the index closes at or above the initial level.

Holders receive a $13.75 coupon per $1,000 face amount in any month the index closes at or above 70% of its initial level (1.375% monthly, up to 16.5% per annum). If called, investors receive face amount plus that month’s coupon. If not called, principal repayment at maturity depends on the index level on the final observation date; if the final level is below 40% of the initial level, investors incur losses proportional to the decline, up to total loss.

The index embeds up to 500% daily leverage, a 6% per annum decrement deducted daily, and caps the daily change in leverage. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. Estimated value at pricing is expected between $885 and $925 per $1,000 face amount. Expected trade date is November 12, 2025; issue date is November 17, 2025.

Goldman Sachs (GS), via GS Finance Corp., announces a primary offering of Market Linked Securities (Series F) tied to the lowest performing of the S&P 500, Russell 2000, and Nasdaq‑100 Technology Sector Index. Each note has a $1,000 face amount, an original offering price of $1,000, an underwriting discount of up to $23.25, and proceeds to the issuer of $976.75 per note.

The notes pay a monthly contingent coupon of at least $7.209 per $1,000 (≈8.65% p.a.) if the lowest performing index on the calculation day is at or above its coupon threshold (70% of starting level). From May 2026 through October 2028, an automatic call is triggered if the lowest performer is at or above its starting level, returning face value plus the final coupon.

If not called, at maturity on November 30, 2028 you receive $1,000 only if the lowest performer is at or above its downside threshold (70%); otherwise repayment falls in line with the index decline and can be substantially less than principal. The notes are unsecured, subject to the credit risk of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The estimated value on pricing is expected between $925–$955 per $1,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable quarterly notes linked to the Russell 2000 Index, the EURO STOXX 50 Index, and the Consumer Staples Select Sector SPDR Fund. The notes mature on November 10, 2028, unless redeemed earlier at 100% of face value plus any due coupon.

Coupons are contingent: on each observation date (February, May, August, November, beginning February 2026), you receive $28.25 per $1,000 (2.825% quarterly; up to 11.3% per annum) only if each underlier closes at or above 70% of its initial level; otherwise no coupon is paid. At maturity, if not redeemed, you receive $1,000 plus the final coupon if each underlier is at or above 70% of its initial level; $1,000 (no coupon) if each is at or above 65% but any is below 70%; or a downside payment based on the lesser performing underlier if any finishes below 65%, which can result in a substantial loss of principal. The issuer’s estimated value at pricing is expected to be $925–$955 per $1,000, less than the original issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., filed a preliminary 424B2 for Autocallable Contingent Coupon Index-Linked Notes due 2028. The notes link to the Nasdaq-100 Index, Russell 2000 Index, and S&P 500 Index, and may be automatically called if each underlier is at or above its initial level on designated observation dates.

The notes offer a contingent monthly coupon of $8.959 per $1,000 (0.8959% monthly, potential up to approximately 10.75% per annum) when the closing level of each underlier is at least 80% of its initial level on the related observation date. If held to maturity and not called, repayment depends on the lesser performing underlier: at or above the 80% buffer returns $1,000 per note (plus any final coupon); below the buffer, principal is reduced by the underlier’s decline beyond the 20% buffer. Key dates: trade November 10, 2025, issue November 14, 2025, determination November 10, 2028, and maturity November 17, 2028. The filing highlights credit risk of the issuer and guarantor, potential loss of principal, limited liquidity, and uncertain tax treatment.

GS Finance Corp. filed a preliminary pricing supplement for Callable Contingent Coupon Index‑Linked Notes due 2028, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq‑100 Index, Russell 2000 Index, and S&P 500 Index.

The notes pay a contingent monthly coupon of at least $8.959 per $1,000 (0.8959% monthly, potential up to approximately 10.75% per annum) if, on each observation date, the closing level of each underlier is at or above its 70% coupon trigger level. If any underlier is below its trigger on an observation date, the coupon for that month is $0.

At maturity on November 10, 2028 (if not redeemed), the cash payment per $1,000 depends on the lesser performing underlier: return of $1,000 if all finals are at or above their 70% trigger buffer levels; otherwise, $1,000 plus $1,000 × the lesser performing underlier return, which can result in losing your entire investment. The issuer may redeem the notes, in whole, on any coupon payment date from May 2026 through October 2028, paying $1,000 plus any due coupon.

Goldman Sachs (GS), via GS Finance Corp., filed a preliminary pricing supplement for index-linked notes tied to the Russell 2000 and S&P 500. The notes do not pay interest and repay based on the lesser performing index from the trade date (expected November 21, 2025) to the determination date (expected November 21, 2028), with maturity expected on November 27, 2028.

At maturity, each $1,000 note pays: (i) the lesser performing index return if both indexes are flat or up, capped at a maximum settlement amount of at least $1,540; (ii) the absolute value of the lesser return if any index is down but both remain at or above 85% of initial (a 15% buffer); or (iii) a loss equal to the lesser return plus 15% if any index finishes below 85% of its initial level. Upside participation is 100% up to a cap level of at least 154% of initial. The estimated value is expected between $925 and $965 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. (issuer) and The Goldman Sachs Group, Inc. (guarantor), and there may be limited or no secondary market.

GS Finance Corp. filed a preliminary pricing supplement for Autocallable Contingent Coupon Equity‑Linked Notes due 2028, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Broadcom (AVGO), NVIDIA (NVDA) and Oracle (ORCL). They pay a contingent quarterly coupon only if the closing level of each underlier is at or above its coupon trigger level, set at 70% of the initial level for each name.

The notes are subject to an automatic call on scheduled dates if each underlier is at or above its initial level; if called, investors receive $1,000 per note plus any coupon then due. If not called, payment at maturity depends solely on the lesser performing underlier. If that underlier finishes below its 70% trigger buffer level, principal is reduced one-for-one with the lesser performer’s return, and investors could lose their entire investment. The calculation agent is Goldman Sachs & Co. LLC.

Original issue price is 100% of face amount, the underwriting discount is 2%, and net proceeds to the issuer are 98%. Key dates include trade date November 6, 2025, original issue date November 12, 2025, and stated maturity date November 9, 2028.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable monthly coupon notes linked to Vistra, NVIDIA, Meta Platforms Class A, and UnitedHealth Group. The notes are expected to mature on November 29, 2030, unless automatically called on monthly observation dates from November 2026 to October 2030 if each stock closes at or above 95% of its initial price.

On each monthly observation date (the 21st, from December 2025 to November 2030), if each stock is at or above 75% of its initial price, the note pays a maximum coupon of $6.667 per $1,000 face amount; otherwise it pays a minimum coupon of $0.209. At maturity, holders receive $1,000 per $1,000 face amount plus the final coupon.

The estimated value at pricing is expected between $850 and $890 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp., subject to the credit risk of both the issuer and the guarantor, and will not be listed on any exchange.

GS Finance Corp. (GS) launched a primary offering of S&P 500-linked notes with an aggregate face amount of $625,000. The notes pay no interest and the payment at maturity depends on the S&P 500 Index level on the determination date versus the initial level of 6,840.20. If the index rises, holders earn 200% of the underlier return, capped at a maximum settlement amount of $1,166 per $1,000. If the index is flat to down but no lower than 90% of the initial level (a 10% buffer), investors receive the $1,000 face amount. Below the 90% buffer level, losses match the decline beyond the buffer at a 1:1 rate.

Key dates are trade on October 31, 2025, issue on November 5, 2025, determination on November 1, 2027, and maturity on November 4, 2027, each subject to adjustment. The underwriting discount is 2.25% of face amount, with net proceeds of 97.75% to the issuer. The notes are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., will not be listed, and are subject to the credit risk of the issuer and guarantor.