Goldman Sachs Group Inc SEC Filings

Goldman Sachs (GS) filed a preliminary prospectus supplement for GS Finance Corp. notes linked to Meta, Amazon, Alphabet Class C and NVIDIA. The notes pay a monthly coupon of $6.375 per $1,000 (0.6375% monthly, potential for up to 7.65% per annum) only if on each observation date every stock closes at or above 75% of its initial price.

The notes are automatically called if, on any call observation date (commencing in November 2026 and ending in October 2031), each stock is at or above its initial price; investors then receive the face amount plus the applicable coupon on the next payment date. If not called, the notes are scheduled to mature on December 1, 2031, paying $1,000 per $1,000 face amount plus the final coupon, if any. Monthly coupon observation dates are expected to be the 21st of each month from December 2025 through November 2031.

The estimated value at pricing is expected to be between $885 and $935 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. as issuer and The Goldman Sachs Group, Inc. as guarantor.

GS Finance Corp. is offering Medium‑Term Notes, Series F, guaranteed by The Goldman Sachs Group, Inc., that are equity‑linked and auto‑callable with a contingent coupon and downside risk to principal. The notes are tied to the lowest performing of Meta Platforms Class A and Micron Technology common stock and mature on November 15, 2028.

The notes pay a monthly contingent coupon of at least $20.834 per $1,000 face amount (about 25.00% per annum) only if the lowest performing stock closes at or above its coupon threshold price, set at 70% of its starting price. Missed coupons have a memory feature. From February 2026 to October 2028, if the lowest performer is at or above its starting price on a call date, the notes are automatically called for face amount plus any due coupons.

If not called, principal is repaid only if the lowest performer is at or above its 70% downside threshold on the final calculation day; otherwise, investors lose more than 30% and up to all principal. Estimated value is $925–$955 per $1,000. Original offering price is $1,000, underwriting discount up to $23.25, and proceeds to the issuer $976.75 per security. Payments are subject to the credit risk of GS Finance Corp. and the guarantor. No exchange listing.

Goldman Sachs provided investor information for unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., linked to the S&P 500 Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER (“SPAR4V6”). The notes are subject to the credit risk of both the issuer and guarantor and will not be listed on any exchange.

The index seeks volatility-adjusted exposure to the S&P 500 Futures Excess Return Index using rules-based signals (mean reversion, FOMC schedule, and turn-of-the-month). It targets 40% realized volatility with leverage up to 500% and a maximum 100% daily change in leverage. A 6% per annum daily decrement applies to the index level. The S&P 500 Futures Adaptive Response indices have been live since December 27, 2024; earlier figures shown are hypothetical backtests.

Materials emphasize extensive risk factors, including leverage risk, decrement drag, potential divergence from S&P 500 performance, negative roll yields, market disruptions, and tax uncertainty. Any specific note terms would be set in an applicable pricing supplement.

Goldman Sachs (GS) filed a Rule 424(b)(3) supplemental index fact sheet for notes linked to the S&P 500 Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The index applies a rules-based overlay to the S&P 500 Futures Excess Return Index, targeting volatility-adjusted exposure with a maximum exposure of 500% and a maximum daily change in leverage of 100%, and is subject to a daily decrement of 6.0% per annum.

Historical information prior to December 27, 2024 is hypothetical from the sponsor’s website. The materials state no regulatory approval and note that these securities are not bank deposits or FDIC insured. Key risks include issuer and guarantor credit risk, leveraged exposure, caps on daily leverage changes, potential periods when the index may be significantly uninvested, negative roll yields, and the possibility the index level could remain at zero if it ever reaches zero.

GS Finance Corp, guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Contingent Coupon Index‑Linked Notes due 2028 tied to the Nasdaq‑100, Russell 2000, and S&P 500.

The notes pay a monthly contingent coupon of $12.5 per $1,000 (1.25% monthly, up to 15.00% per annum) if on each observation date the closing level of each index is at or above its 80% coupon trigger. The notes are automatically called if, on a call observation date, each index is at or above its initial level; holders then receive $1,000 per note plus the coupon for that period.

If not called, at maturity on November 17, 2028 investors receive $1,000 per note if the final level of each index is at or above its 80% trigger buffer. Otherwise, repayment is reduced by the lesser performing index return, which can result in losing the entire investment. Key dates include a trade date of November 14, 2025 and monthly observation/payment dates as scheduled. The notes are subject to the credit risk of the issuer and guarantor.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Medium‑Term Notes, Series F linked to three stocks—Rocket Companies, TG Therapeutics, and Constellation Brands. The notes pay a contingent monthly coupon of $20.417 per $1,000 face amount (2.0417% monthly, up to approximately 24.5% per annum) only if each stock closes at or above 60% of its initial price on the observation date.

The notes are automatically called beginning in November 2026 if each stock is at or above its initial price, returning principal plus the then‑due coupon. If not called, they mature on the expected stated maturity date of November 30, 2028. At maturity: if each stock is at or above 60% of its initial price, investors receive $1,000 plus the final coupon; if any stock is between 50% and 60%, investors receive $1,000 with no coupon; if any stock is below 50%, repayment is reduced by the lesser‑performing stock’s return and no coupon is paid.

The estimated value at pricing is expected to be $925–$965 per $1,000 face amount. Payments are unsecured and subject to the credit risk of GS Finance Corp. and the guarantor.

Goldman Sachs (GS) filed a preliminary 424(b)(2) pricing supplement for monthly coupon autocallable notes linked to the S&P 500 Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes may mature on November 19, 2030, unless automatically called on monthly observation dates starting in May 2026 if the index closes at or above the initial level.

Holders receive a $13.75 coupon per $1,000 face amount in any month the index closes at or above 70% of its initial level (1.375% monthly, up to 16.5% per annum). If called, investors receive face amount plus that month’s coupon. If not called, principal repayment at maturity depends on the index level on the final observation date; if the final level is below 40% of the initial level, investors incur losses proportional to the decline, up to total loss.

The index embeds up to 500% daily leverage, a 6% per annum decrement deducted daily, and caps the daily change in leverage. The notes are unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. Estimated value at pricing is expected between $885 and $925 per $1,000 face amount. Expected trade date is November 12, 2025; issue date is November 17, 2025.

Goldman Sachs (GS), via GS Finance Corp., announces a primary offering of Market Linked Securities (Series F) tied to the lowest performing of the S&P 500, Russell 2000, and Nasdaq‑100 Technology Sector Index. Each note has a $1,000 face amount, an original offering price of $1,000, an underwriting discount of up to $23.25, and proceeds to the issuer of $976.75 per note.

The notes pay a monthly contingent coupon of at least $7.209 per $1,000 (≈8.65% p.a.) if the lowest performing index on the calculation day is at or above its coupon threshold (70% of starting level). From May 2026 through October 2028, an automatic call is triggered if the lowest performer is at or above its starting level, returning face value plus the final coupon.

If not called, at maturity on November 30, 2028 you receive $1,000 only if the lowest performer is at or above its downside threshold (70%); otherwise repayment falls in line with the index decline and can be substantially less than principal. The notes are unsecured, subject to the credit risk of GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The estimated value on pricing is expected between $925–$955 per $1,000.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable quarterly notes linked to the Russell 2000 Index, the EURO STOXX 50 Index, and the Consumer Staples Select Sector SPDR Fund. The notes mature on November 10, 2028, unless redeemed earlier at 100% of face value plus any due coupon.

Coupons are contingent: on each observation date (February, May, August, November, beginning February 2026), you receive $28.25 per $1,000 (2.825% quarterly; up to 11.3% per annum) only if each underlier closes at or above 70% of its initial level; otherwise no coupon is paid. At maturity, if not redeemed, you receive $1,000 plus the final coupon if each underlier is at or above 70% of its initial level; $1,000 (no coupon) if each is at or above 65% but any is below 70%; or a downside payment based on the lesser performing underlier if any finishes below 65%, which can result in a substantial loss of principal. The issuer’s estimated value at pricing is expected to be $925–$955 per $1,000, less than the original issue price.