Goldman Sachs Group Inc SEC Filings

Goldman Sachs (GS), via GS Finance Corp., is offering $2,385,000 of Trigger Autocallable Contingent Yield Notes due 2027, linked to the common stock of SLB N.V. The notes pay a quarterly contingent coupon of $0.33375 per $10 (13.35% per annum) only if SLB’s closing price on the observation date is at or above the coupon barrier set at 70% of the $36.16 initial price. Beginning in January 2026, the notes will be automatically called if SLB closes at or above the initial price on any observation date, returning face value plus the coupon, with no further payments.

If not called, and SLB’s final price on April 27, 2027 is at or above the downside threshold (also 70% of the initial price), holders receive face value plus the final coupon. If the final price is below the downside threshold, repayment is reduced one-for-one with SLB’s decline, and the final coupon is not paid, up to total loss of principal. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. The estimated value at pricing is approximately $9.75 per $10. Key dates: trade October 27, 2025; issue October 30, 2025; maturity April 30, 2027. Underwriting discount is 1.5% and net proceeds are 98.5% of face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Trigger Autocallable Contingent Yield Notes linked to the least performing of the S&P 500, Russell 2000, and EURO STOXX 50. The notes pay a contingent coupon only when each index closes at or above a 75% coupon barrier on the observation date. The contingent coupon is between $0.23 and $0.2425 per $10 quarterly (up to 9.20%–9.70% per annum).

Beginning in April 2026, the notes are automatically called if each index is at or above its initial level on an observation date; investors then receive the $10 face amount plus the due coupon, and the notes terminate. If not called, and on the determination date each index is at or above its 75% downside threshold, holders receive $10 plus the final coupon. If any index is below its threshold, repayment is reduced one-for-one with the lesser performing index’s decline, and the final coupon is not paid, which can result in a total loss.

The offering lists an estimated value of $9.50–$9.80 per $10 at pricing. Pricing economics show a 2.25% underwriting discount and 97.75% net proceeds to the issuer. Key dates: trade Oct 29, 2025, issue Oct 31, 2025, determination Oct 30, 2028, maturity Nov 2, 2028. Payments are subject to the credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, filed a preliminary prospectus supplement for autocallable, no‑interest notes linked to an equally weighted basket of five stocks: Advanced Micro Devices, AppLovin, Astera Labs, Robinhood Markets, and Vertiv. The basket starts at an initial level of 100 with each stock at a 20% weight and initial weighted value of 20.

The notes may be automatically called on scheduled observation dates beginning on November 9, 2026 if the basket level is at or above its initial level, paying $1,000 plus the applicable call premium per $1,000 face amount. If not called, at maturity (expected November 15, 2030) investors receive: (i) $1,000 plus 100% of any positive basket return; (ii) $1,000 if the basket decline is within the 50% trigger buffer; or (iii) $1,000 plus the basket return if the decline exceeds 50%, which can result in substantial loss.

The estimated value at pricing is expected between $850 and $890 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The schedule lists call premiums for each call payment date through 2030.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500 Index-linked notes maturing in 2028. These notes do not pay interest and repay at least the face amount at maturity.

The maturity payment is tied to the S&P 500’s performance from the trade date to the determination date. If the index rises, your return matches the index return up to a maximum settlement amount of $1,197.50 per $1,000. If the index is flat or down, you receive $1,000 per $1,000 face amount.

Key dates include a trade date of November 25, 2025, original issue date of December 1, 2025, determination date of November 27, 2028, and stated maturity of November 30, 2028 (each subject to adjustment). The notes are part of Goldman’s Medium‑Term Notes, Series F program, will not be listed on an exchange, and are subject to the credit risk of the issuer and guarantor.

Goldman Sachs (GS), via GS Finance Corp., is offering Buffered Digital S&P 500 Index‑Linked Notes fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the S&P 500’s level on the determination date versus the trade date.

If the final index level is at or above the 90% buffer level, holders receive a capped maximum settlement amount, expected to be between $1,130.90 and $1,154 per $1,000 note. If the index finishes below the buffer, the payoff declines by approximately 1.1111% for every 1% drop below the buffer, and investors could lose their entire principal. Key terms are set on the trade date, with the determination date expected 22–25 months later and cash settlement two business days after. The notes are unsecured obligations subject to the credit risk of the issuer and guarantor, will not be listed, and GS&Co. may make a market but is not obligated to do so. A FINRA Rule 5121 conflict of interest applies.

GS Finance Corp. plans a primary offering of callable buffered notes linked to the S&P 500 Futures Excess Return Index, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and are expected to mature on October 31, 2030, unless redeemed earlier at 100% of face amount plus a call premium.

If held to maturity and not redeemed, payoff depends on index performance from the expected October 29, 2025 trade date to the expected October 17, 2030 determination date: gains are 1.25x the index return when the final level is at or above the initial level; modest declines down to 75% of the initial level return the absolute decline; below 75%, losses occur with a 25% buffer. Monthly call premiums range from 12% early in the schedule to 59% near September 30, 2030.

The index tracks E-mini S&P 500 futures, not the S&P 500 Index itself; futures financing costs and roll yields can materially affect returns. The estimated value at pricing is expected between $885 and $925 per $1,000. Repayment is subject to the credit risk of GS Finance Corp. and its guarantor.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering $6,185,000 of callable notes linked to the S&P 500 Futures Excess Return Index. The notes pay no interest and mature on October 28, 2030, unless redeemed earlier at 100% of face value plus the applicable call premium on quarterly call payment dates.

If not redeemed, the payoff depends on index performance from the October 23, 2025 trade date to the October 14, 2030 determination date. For each $1,000: if the final index level exceeds the 552.61 initial level, investors receive $1,000 plus 5.9 times the index return. If the final level is between 50% and 100% of the initial level, investors receive $1,000. If below 50%, repayment falls one-for-one with the index, and investors could lose all principal.

The index tracks E-mini S&P 500 futures, not the S&P 500 Index, and may be affected by futures roll and financing costs. The estimated value is approximately $966 per $1,000 at pricing. The original issue price is 100% of face amount, the underwriting discount is 1.125%, and net proceeds to the issuer are 98.875%.

GS Finance Corp. is offering $500,000 aggregate face amount of callable 10-Year CMT Rate‑Linked Range Accrual Notes due October 24, 2040, guaranteed by The Goldman Sachs Group, Inc. The notes price at 100% with a 2.50% underwriting discount and 97.50% net proceeds; the estimated value is approximately $986.5 per $1,000.

Interest is paid quarterly on January 24, April 24, July 24 and October 24. The first four payments accrue at 9.00% per annum. Beginning in January 2027, each quarter’s rate equals the fraction of reference dates when the 10‑year CMT rate is ≤5.00% multiplied by a 9.00% interest factor, using the 30/360 (ISDA) convention; if all reference dates exceed 5.00%, no interest is paid for that period.

The notes are callable at par plus accrued interest on any quarterly interest payment date on or after October 24, 2026. Proceeds will be loaned to The Goldman Sachs Group, Inc. or its affiliates. Payments are subject to the credit risk of GS Finance Corp. and the guarantor.

Goldman Sachs (GS) filed a preliminary 424B2 for GS Finance Corp.’s Autocallable Equity‑Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes are linked to AMZN, GOOG, META and MSFT and do not bear interest. Terms will be set on the trade date and the filing warns you could lose your entire investment.

The notes auto‑call on the call payment date if, on the call observation date, each underlier closes at or above its initial level. If called, holders receive $1,500 per $1,000 face amount. If not called, payment at maturity depends on the lesser performing underlier: an upside participation rate of 425% applies when each final level exceeds its initial; repayment of $1,000 applies if each final level is at or above its 70% trigger buffer but any underlier is at or below its initial; otherwise, payoff falls one‑for‑one with the lesser performer.

Key dates: trade October 30, 2025, issue November 4, 2025, call observation October 21, 2026, call payment October 26, 2026, determination October 23, 2028, maturity October 26, 2028. The estimated value at pricing is expected to be below the original issue price and the notes carry the credit risk of GS Finance Corp. and the guarantor.