Goldman Sachs Group Inc SEC Filings

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the common stocks of Oracle, Broadcom, NVIDIA, Netflix and Intel. The notes pay contingent monthly coupons and mature on January 7, 2031, unless automatically called between December 2026 and November 2030 if each stock closes at or above 90% of its initial price.

On each monthly observation date, if every stock is at or above 75% of its initial price, investors receive a maximum coupon of $7.084 per $1,000 face amount (0.7084% monthly, about 8.5% per year). If any stock is below 75%, only the minimum coupon of $0.209 per $1,000 (0.0209% monthly, about 0.25% per year) is paid. At maturity, if not called earlier, holders receive $1,000 per note plus the final coupon.

The aggregate face amount on the original issue date is $5,351,000, with an issue price of 100% of face, a 4.25% underwriting discount and 95.75% net proceeds to the issuer. The estimated value is about $943 per $1,000 face amount, reflecting structuring costs and dealer compensation, and secondary market prices may be lower. Payments are subject to the credit risk of GS Finance Corp. and the guarantor.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2029 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at 4.05% per annum from the original issue date, expected to be January 22, 2026, to but excluding the stated maturity date, expected to be January 22, 2029, with interest paid annually on each January 22, starting in 2027.

Goldman Sachs may redeem the notes at its option, in whole but not in part, at 100% of principal plus accrued interest on quarterly redemption dates (each January 22, April 22, July 22 and October 22) on or after January 22, 2027, upon at least five business days’ notice. The notes are unsecured senior debt obligations, are not bank deposits, are not insured by any governmental agency, and may only be sold to non-retail investors in certain jurisdictions such as the EEA and the UK.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2036 that pay interest at 5.00% per annum from the expected original issue date of January 22, 2026 to the expected stated maturity date of January 22, 2036. Interest is expected to be paid annually each January 22, beginning January 22, 2027.

Goldman Sachs may, at its option, redeem the notes in whole on any quarterly redemption date (each January 22, April 22, July 22 and October 22) on or after January 22, 2028 at 100% of principal plus accrued interest. The notes will be issued in global form through DTC and will not benefit from a sinking fund or any investor put right.

The company expects to file its earnings release for the quarter and year ended December 31, 2025 on Form 8-K on or about January 15, 2026, before the trade date. Investors who have already agreed to purchase may withdraw their orders before the trade date, and Goldman Sachs may terminate the offering entirely if it determines there has been a significant adverse movement in its credit spread prior to the trade date.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2046 under its Medium-Term Notes, Series N program. The notes are expected to be issued on January 22, 2026 and pay interest at 5.40% per annum from the original issue date to, but excluding, the stated maturity date, expected to be January 2, 2046. Interest is expected to be paid annually on January 22, beginning January 22, 2027, and on the maturity date.

Goldman Sachs may, at its option, redeem the notes in whole (but not in part) at a price equal to 100% of the outstanding principal amount plus accrued and unpaid interest on each redemption date, expected to be January 22, April 22, July 22 and October 22 on or after January 22, 2029, upon at least five business days’ prior notice. The notes are issued in book-entry form through DTC, are not bank deposits, are not insured by the FDIC or any other governmental agency, and are not obligations of or guaranteed by a bank. U.S. holders will generally recognize ordinary interest income on interest payments and may recognize capital gain or loss on disposition, and the notes will generally be subject to FATCA withholding rules.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2038 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at a fixed rate of 5.05% per annum from the original issue date, expected to be January 22, 2026, until the stated maturity date, expected to be January 22, 2038, with interest paid annually on January 22.

Goldman Sachs may redeem the notes, in whole but not in part, at its option on specified quarterly redemption dates on or after January 22, 2028, at 100% of principal plus accrued and unpaid interest. The notes will be issued in book-entry form through DTC, are unsecured debt obligations of The Goldman Sachs Group, Inc., are not bank deposits, and are not insured by the FDIC or any governmental agency. U.S. holders generally will be taxed on interest as ordinary income and may recognize capital gain or loss on disposition, and the notes are generally subject to FATCA withholding rules.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2031 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at a fixed rate of 4.40% per annum from the expected original issue date of January 22, 2026 to the expected stated maturity date of January 22, 2031, with interest payable annually on January 22.

Goldman Sachs may redeem the notes at its option, in whole but not in part, at 100% of principal plus accrued interest on each quarterly redemption date on or after January 22, 2027, upon at least five business days’ notice. The company plans to file its earnings release for the quarter and year ended December 31, 2025 on Form 8-K on or about January 15, 2026, and investors who have agreed to buy the notes before that release may withdraw their orders before the trade date. The notes are unsecured debt obligations of Goldman Sachs, are not bank deposits, and are not insured by any governmental agency.

The Goldman Sachs Group, Inc. is offering senior unsecured callable fixed rate notes due in 2033 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at a fixed rate of 4.50% per year, from the original issue date expected on January 22, 2026 to the stated maturity date expected on January 3, 2033, with annual interest payments expected each January 22 and at maturity.

Goldman Sachs may, at its option, redeem the notes in whole (but not in part) at 100% of principal plus accrued interest on quarterly redemption dates beginning on or after April 22, 2027, upon at least five business days’ notice. The company expects to file its earnings release for the quarter and year ended December 31, 2025 before the trade date, and investors may withdraw commitments any time before the trade date. The notes will be issued only in global form through DTC, are subject to U.S. tax rules including FATCA, are not bank deposits, and are not insured by any government agency.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2031 under its Medium-Term Notes, Series N program. The notes are expected to pay interest at 4.20% per annum from the original issue date of January 22, 2026 to the stated maturity date of January 2, 2031, with annual interest payments each January 22 and at maturity.

Goldman Sachs may redeem the notes, in whole but not in part, on any January 22, April 22, July 22 or October 22 on or after January 22, 2027 at 100% of principal plus accrued interest. The notes will be issued in book-entry form through DTC and are unsecured senior debt obligations, not bank deposits and not insured by the FDIC or any government agency.

The company plans to file its earnings release for the quarter and year ended December 31, 2025 on Form 8-K on or about January 15, 2026, before the trade and issue dates. Investors who have already agreed to purchase may withdraw their orders before the trade date, and the issuance may be terminated entirely if the issuer determines there has been a significant adverse movement in its credit spread.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2036 that pay interest at 4.85% per year. Interest is expected to be paid annually each January 22, beginning January 22, 2027, until the expected stated maturity date of January 2, 2036.

Goldman Sachs may redeem the notes early, in whole but not in part, on specified quarterly redemption dates starting July 22, 2027 at 100% of principal plus accrued interest. The notes are senior unsecured debt under the company’s Medium-Term Notes, Series N program and will be issued in book-entry form through DTC.

The company expects to file its earnings release for the quarter and year ended December 31, 2025 on Form 8-K around January 15, 2026, before the trade and issue dates. Investors who have agreed to purchase the notes may withdraw their orders before the trade date, and the offering may be terminated if the issuer determines there has been a significant adverse movement in its credit spread.