GOLDMAN SACHS GROUP INC SEC Filings

GS Finance Corp. priced medium-term notes (guaranteed by The Goldman Sachs Group, Inc.) linked to the iShares MSCI EAFE ETF ("EFA"). For each $1,000 face amount, at maturity you receive $1,000 if the final underlier level is equal to or below the initial level; if the final level is higher you receive $1,000 plus the underlier return, capped at a maximum settlement amount of $1,550. The notes pay no periodic interest. Key dates: trade date March 31, 2026, original issue date April 6, 2026, determination date April 1, 2030, stated maturity date April 4, 2030. The pricing supplement discloses an underwriting discount of 1% and a comparable yield for U.S. tax accrual purposes of 4.6337% with a projected payment at maturity of $1,203.96 per $1,000 for tax accruals.

The issuer, GS Finance Corp., is offering principal-at-risk, ETF-linked notes linked to the iSharesMSCI EAFE ETF ("EFA"), with an aggregate face amount of $399,000. Each $1,000 note pays at maturity either (1) $1,000 plus 110.5% of the underlier return if the final level is above the initial level, (2) the $1,000 face amount if the final level is at or above 70% of the initial level (the buffer), or (3) a reduced cash payment that declines dollar-for-dollar below the buffer, exposing holders to substantial principal loss. Trade date is March 31, 2026, original issue date April 6, 2026, and stated maturity is April 3, 2031. The notes pay no interest, are unsecured senior obligations of GS Finance Corp., and are unconditionally guaranteed by The Goldman Sachs Group, Inc. The original issue price equals 100% of face and includes a 0.5% underwriting discount; estimated model value at issuance is lower than the issue price. Investors bear issuer/guarantor credit risk, market and tracking risks of the underlier, foreign- and currency-related risks, potential tax uncertainty (including Section 1260), and limited secondary-market liquidity.

GS Finance Corp. is offering contingent monthly coupon, autocallable notes linked to the common stock of Broadcom Inc. (Bloomberg: AVGO UW). Each $1,000 face amount pays a monthly contingent coupon of $11.709 if the underlier closes at or above 55% of the initial level on the related observation date. The notes will be automatically called if the underlier closes at or above the initial level on any call observation date, in which case holders receive $1,000 plus any coupon then due. At stated maturity, if the notes have not been called, cash settlement equals $1,000 if the final underlier level is at or above 55% of the initial level; otherwise the cash payment equals $1,000 plus $1,000 times the underlier return, which can result in a total loss of principal. The notes are unsecured senior obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and are exposed to issuer/guarantor credit risk, market-value volatility, limited liquidity, pricing discounts relative to estimated model value, and uncertain U.S. federal income tax treatment.

GS Finance Corp. priced $440,000 of Vanguard Value ETF‑linked notes due April 4, 2030, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return is tied to the Vanguard Value ETF (initial level $196.20 on trade date March 31, 2026). At maturity holders receive $1,000 if the ETF return is zero or negative; if positive they receive $1,000 plus the ETF return up to a capped maximum settlement amount of $1,417.50 per $1,000 face amount (cap = 141.75% of initial level). Issue price is 100% (original issue date April 6, 2026); underwriting discount 1% (net proceeds 99%). Estimated value at pricing was approximately $978 per $1,000 face amount. Payments are subject to issuer and guarantor credit risk and special U.S. tax treatment for contingent payment debt instruments.

GS Finance Corp. offers contingent‑coupon notes linked to UnitedHealth Group common stock (UNH). Each $1,000 note pays a monthly contingent coupon of $11.292 if the underlier closes at or above 68% of the initial level on the observation date, and will be automatically called if UNH closes at or above the initial level on a call observation date. If not called, maturity settlement on May 5, 2027 depends on the final underlier level: investors receive $1,000 if the final level is ≥68% (including up to full principal if ≥100%), but will suffer proportional losses if the final level is below 68%, including a potential total loss of principal. The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., issued at 100% of face amount with a 2.15% underwriting discount. Trade date: March 31, 2026; initial underlier level: $270.59.

GS Finance Corp. priced an Auto-Callable Trigger PLUS linked to the Russell 2000® Index. The aggregate original stated principal amount is $3,271,000 and the securities pay a fixed $1,142 per $1,000 if automatically called on the call observation date. If not called, maturity payoffs depend on the final index value: upside participation equals 125.00% of any positive index return, full principal is preserved down to an 80.00% downside threshold (1,997.0992 initial-index-equivalent), and below that investors suffer pro rata losses. The estimated value at pricing was approximately $954 per $1,000 and the original issue price equals 100.00% of principal. These are unsecured notes of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and carry issuer/guarantor credit risk.

GS Finance Corp. is offering Market Linked Securities — Auto-Callable with Fixed Percentage Buffered Downside linked to the State Street® SPDR® S&P® Biotech ETF due April 5, 2029. The securities have a face amount of $1,000 per security and were priced at $1,000 with an estimated model value of approximately $955 per $1,000 face amount on the pricing date. The notes are automatically callable on specified call dates if the fund closing price is at or above a threshold equal to 85.00% of the starting price, providing fixed call premiums (8.00% to 24.00% by the final call) but only a 15.00% downside buffer; investors have 1-to-1 downside beyond the buffer and may lose up to 85.00% of principal. All payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering structured, autocallable notes linked to the common stocks of Palantir Technologies Inc., NVIDIA Corporation and Oracle Corporation. The notes have an expected trade date of April 9, 2026, an expected original issue date of April 14, 2026, and an expected stated maturity date of April 13, 2028. Coupons may pay monthly if each index stock meets a 50% threshold on monthly observation dates; the monthly coupon increment is $15.042 per $1,000 face amount (about 1.5042% monthly, or ~18.05% per annum potential). The notes are automatically called if, on a call observation date, each index stock is greater than or equal to its initial price. At maturity, if a "trigger event" (all final prices below initial prices) occurs, the cash settlement is linked to the lesser performing stock return and could result in a loss of principal. The estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount.

GS Finance Corp. is offering leveraged, buffered, STOXX® Europe 600 index-linked notes due April 10, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity depends on the STOXX Europe 600 performance from the trade date (expected April 7, 2026) to the determination date (expected April 7, 2031). For each $1,000 face amount, investors receive $1,000 at maturity if the underlier declines up to 20%; above the initial level they receive 1.689 times the index return; below the 80% buffer they lose 1.25% of face for every 1% decline below 80%. Estimated value at pricing is $850–$880 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk and complex tax treatment.