Goldman Sachs Group Inc SEC Filings

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.

Goldman Sachs Group has filed a prospectus supplement (424B2) for Fixed Rate Notes due 2030. The notes will offer a 4.30% annual interest rate with semi-annual payments on January 22 and July 22, beginning January 22, 2026.

Key offering details:

• Original issue date: July 22, 2025
• Maturity date: July 22, 2030
• Denominations: $1,000 and integral multiples thereof
• Interest payment frequency: Semi-annual
• Notes will be issued in book-entry form through DTC

The notes will not be listed on any securities exchange. They are not bank deposits and are not FDIC insured. Goldman Sachs reserves the right to terminate the issuance if there is significant adverse movement in credit spreads prior to the trade date. The notes are part of the Medium-Term Notes, Series N program and will be sold through Goldman Sachs & Co. LLC.

Goldman Sachs Finance Corp has filed a prospectus supplement for Callable Contingent Coupon Index-Linked Notes, guaranteed by Goldman Sachs Group, due July 16, 2030. 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 $19.125 (1.9125% quarterly, up to 7.65% annually) if both indices are above 55% of initial levels
• Company can redeem notes at 100% face value plus due coupon on payment dates between January 2026 and April 2030
• At maturity, if not redeemed: full principal return if both indices are above 55% of initial levels; otherwise, loss proportional to worst-performing index
• Estimated value at issuance: $885-$925 per $1,000 face amount

The notes carry significant market risk as investors could lose up to 45% of principal if either index falls below trigger levels. They are not FDIC insured and are subject to Goldman Sachs credit risk.