GOLDMAN SACHS GROUP INC (GS) SEC Filings, Aug 11, 2026

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F linked to the common stock of NVIDIA Corporation. The offering size is $2,613,000 face amount, issued at 100% with a 1.5% underwriting discount and 98.5% net proceeds to the issuer.

The notes pay a contingent quarterly coupon of $37 per $1,000 face amount when NVIDIA’s closing level on a coupon observation date is at or above the coupon trigger level, set at 70% of the $223.96 initial underlier level. The same 70% level is the trigger buffer level. The notes are automatically called if, on any call observation date from February 8, 2027 through May 7, 2029, the underlier is at or above the initial level; in that case holders receive $1,000 per note plus the due coupon.

If the notes are not called, at maturity on August 10, 2029 investors receive $1,000 per note only if the final NVIDIA level is at or above the trigger buffer level. Below that level, principal is reduced one-for-one with the underlier return and can fall to zero, so investors may lose their entire investment. Upside in NVIDIA is capped at return of principal plus coupons; investors do not participate in further stock gains.

The pricing supplement highlights that the estimated value of the notes on the trade date is less than the original issue price, primarily due to underwriting discounts, a structuring fee of up to 0.45%, and other costs. The notes are subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on an exchange, and may have limited or no secondary market liquidity. U.S. federal tax treatment is uncertain; the issuer intends to treat the notes as income-bearing prepaid derivative contracts, with coupon payments generally taxed as ordinary income and FATCA and potential section 871(m) considerations for non-U.S. holders.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Goldman Sachs Momentum Builder Focus ER Index-Linked Notes due August 19, 2031. The notes provide principal repayment at maturity, subject to issuer and guarantor credit risk, and no periodic interest.

At maturity, investors receive $1,000 per note plus upside if the Goldman Sachs Momentum Builder Focus ER Index has risen from the trade date. The payoff above principal equals 885% of the index return, giving leveraged exposure to gains. If the final index level is equal to or below the initial level, investors receive only the $1,000 face amount.

The index is a rules-based, volatility- and momentum-controlled multi-asset strategy, capped at 5% realized volatility and subject to a 0.65% per annum deduction, with the ability to allocate heavily to cash-like positions. Key risks include complex index mechanics, potential underperformance versus direct investments, limited liquidity, market and rate sensitivity, credit risk of GS Finance Corp. and Goldman Sachs, and treatment as contingent payment debt instruments for U.S. tax purposes, which can create taxable income before any cash payment.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $2,562,000 of market-linked medium-term notes tied to NVIDIA Corporation common stock. Each security has a $1,000 face amount, offers a monthly contingent coupon of $10 (a 12.00% per annum rate) and may be auto-called from November 2026 to July 2027 if the stock closes at or above the $223.96 starting price on a call date.

Coupons are paid only when the stock closes at or above the coupon threshold price, set at 60% of the starting price, with a memory feature that can pay previously unpaid coupons. If not called, principal repayment at maturity in August 2027 depends on the final stock price relative to a downside threshold also set at 60% of the starting price; a finish below this level results in a loss of more than 40% of principal, potentially up to 100%.

The estimated value at pricing is approximately $981 per $1,000 face amount, below the original offering price, reflecting structuring costs and dealer compensation. Investors do not receive dividends or upside participation in NVIDIA shares and are fully exposed to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500®-linked structured notes with an aggregate face amount of $15,393,000 under its Medium-Term Notes, Series F program. Each note has a $1,000 face amount and does not pay periodic interest.

At maturity on August 10, 2028, the cash payment per $1,000 depends on S&P 500® Index performance from the August 7, 2026 trade date, with a 20% buffer and a maximum upside settlement amount of $1,200. Gains match index performance up to the cap; moderate losses (within the 20% buffer) produce positive returns equal to the absolute index move; deeper declines below the buffer level (80% of the initial index level of 7,757.64) result in principal loss.

The original issue price is 100% of face, with a 0.5% underwriting discount and 99.5% net proceeds to the issuer. Key risks include potential loss of a substantial portion of principal, no interest, capped upside, secondary market and liquidity uncertainty, credit risk of the issuer and guarantor, and uncertain U.S. tax treatment of the notes as pre-paid derivative contracts.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes with an aggregate face amount of $1,284,000 tied to the Goldman Sachs Momentum Builder® Focus ER Index. The notes feature an automatic annual call if the index closes at or above rising call levels from 101% to 106% of the initial index level, paying $1,000 plus a fixed call premium of 14.40% to 86.40% per $1,000 face amount when called.

If not called, at maturity in August 2033 investors receive, per $1,000, either $1,000 + (100% × index gain) when the index finishes above its initial level, or $1,000 if the index is flat or lower, so downside is limited to return of principal, subject to issuer and guarantor credit risk. The index dynamically reallocates among equity, fixed income, commodity and cash exposures, is calculated on an excess return basis over the federal funds rate, and is reduced by a 0.65% per annum fee, meaning high cash allocations can materially dampen index performance.

The original issue price is 100% of face amount, with a 4.5% underwriting discount and 95.5% net proceeds. The issuer’s estimated value is $893 per $1,000 at trade date, below issue price. The notes pay no periodic interest and are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of income based on a 5.3408% comparable yield and a projected maturity payment of $1,453.75 per $1,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged buffered notes linked to the S&P 500 Futures Excess Return Index, maturing in 2030. Each note has a $1,000 face amount and pays no interest; all return comes at maturity based on index performance.

If the final index level is at or above the initial level, investors receive $1,000 plus 152.5% of the index gain. If the index declines by up to the 25% buffer (down to 75% of the initial level), investors receive the absolute value of the index return, turning moderate losses into gains. Below the 75% buffer level, principal is exposed 1:1 to further declines, and investors can lose a substantial portion of their investment, as low as 25% of face amount in the worst hypothetical shown.

The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, do not provide any rights in futures or underlying stocks, and are expected to have an estimated value below the issue price. Returns depend on an equity futures index, which can underperform the S&P 500 due to financing costs, negative roll yield and market disruptions. U.S. tax treatment is uncertain; the issuer intends to treat the notes as prepaid derivative contracts.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $2,297,000 of callable index-linked notes due August 12, 2031. The notes are issued at 100% of face amount, with a 0.5% underwriting discount and 99.5% net proceeds to the issuer, and do not bear interest.

Unless redeemed on August 12, 2027 for $1,120 per $1,000, the maturity payment depends on the lesser performing of the Nasdaq-100 Index® and S&P 500® Index. If both final index levels exceed their initial levels (29,722.30 for Nasdaq-100; 7,757.64 for S&P 500), investors receive $1,000 plus 100% of the lesser index’s gain; otherwise they receive only $1,000. The estimated value at pricing is about $984 per $1,000, and payments are subject to the credit risk of GS Finance Corp. and the guarantor. For U.S. tax purposes the notes are treated as contingent payment debt instruments, requiring accrual of taxable ordinary income based on a 5.13% comparable yield and a projected maturity payment of $1,292.89 per $1,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked medium-term notes maturing on August 14, 2029, tied to the common stock of Advanced Micro Devices, Inc., the Class A common stock of Robinhood Markets, Inc., and the common stock of Tesla, Inc. Initial index stock prices are $483.36 (AMD), $93.29 (HOOD) and $328.58 (TSLA).

The notes pay a conditional monthly coupon of $18.042 per $1,000 (1.8042% monthly, up to about 21.65% per annum) only when each stock’s closing price on a coupon observation date is at or above 50% of its initial price. The notes are automatically called, at par plus coupon, if on any call observation date (from August 2027 through July 2029) each stock is at or above its initial price.

If not called, principal repayment depends on a trigger event at final valuation on August 7, 2029. If at least one stock finishes at or above its initial price, or if no trigger event occurs, investors receive full face amount (plus final coupon if each stock is at or above 50% of its initial price). If all stocks finish below their initial prices and any is below 50% of its initial price, repayment is reduced in proportion to the worst-performing stock, and investors can lose up to 100% of principal and receive no coupon. The estimated value at pricing is $972 per $1,000 face amount. The aggregate face amount on the original issue date is $379,000, with a 1.5% underwriting discount and 98.5% net proceeds to the issuer.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $446,000 aggregate face amount of auto-callable, income-bearing notes linked to the Class C common stock of Dell Technologies Inc., the common stock of QCOM Incorporated and the Class A common stock of Palantir Technologies Inc. The notes trade date is August 7, 2026, original issue date August 14, 2026, and stated maturity August 14, 2029, unless automatically called between August 2027 and July 2029 when all three stocks close at or above their initial prices of $453.77, $167.86 and $172.01, respectively.

Holders may receive contingent monthly coupons of $19.334 per $1,000 (1.9334% monthly, up to about 23.2% per annum) only when each stock is at or above 50% of its initial price; otherwise the coupon is zero. Principal is protected at maturity only if either no trigger event occurs (at least one stock at or above its initial price) or, if a trigger event occurs, all stocks are at or above 50% of their initial prices. If a trigger event occurs and any stock finishes below 50% of its initial price, repayment is reduced one-for-one with the worst-performing stock, potentially to zero.

The notes are unsecured obligations of GS Finance Corp., subject to the credit risk of both the issuer and the guarantor. The estimated value at pricing is approximately $960 per $1,000 face amount; the original issue price is 100% of face, with a 1.5% underwriting discount and 98.5% net proceeds to the issuer.