GOLDMAN SACHS GROUP INC (GS) SEC Filings, Jan 16, 2026

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon equity-linked notes due 2029 tied to Monolithic Power Systems, Inc. common stock. These notes pay a contingent quarterly coupon only if the stock’s closing level on each observation date is at least 50% of the initial level, using a formula based on $29.375 per $1,000 face amount per elapsed observation date minus prior coupons. The notes are automatically called, returning $1,000 per $1,000 face amount plus the due coupon, if on any call observation date the stock is at or above its initial level. At maturity, if not called, investors receive $1,000 per $1,000 face amount if the final stock level is at or above 50% of the initial level; otherwise, repayment is reduced one-for-one with the stock’s decline, and investors can lose their entire investment.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon index-linked notes due 2029 tied to the Nasdaq-100, Russell 2000 and S&P 500 indices. The notes pay a contingent monthly coupon of $9.584 per $1,000 (0.9584% per month, up to about 11.5% per year) only if on each observation date all three indices are at least 75% of their initial levels.

The notes can be automatically called, returning principal plus the applicable coupon, if on a call observation date all indices are at or above their initial levels. If not called, at maturity in January 2029 investors receive full principal back only if each index is at least 70% of its initial level. Otherwise, repayment is reduced based on the worst-performing index, and investors can lose their entire investment.

The supplement highlights that the notes’ estimated value at pricing will be below the issue price, there may be limited or no secondary market, payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., investors have no rights in the underlying stocks, and U.S. tax treatment is complex, with coupons generally expected to be taxed as ordinary income.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon index-linked notes due January 26, 2029. Payments are tied to three equity indexes: the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index.

Investors can receive a contingent monthly coupon of $8.459 per $1,000 face amount (0.8459% monthly, about 10.15% per year), but only if on each observation date the closing level of every index is at least 60% of its initial level. The notes are automatically called early, at $1,000 per note plus the coupon, if on any call observation date all indexes are at or above their initial levels.

If the notes are not called, principal repayment at maturity depends solely on the worst-performing index. If that index is at or above 60% of its initial level, investors receive full principal back; if it is below 60%, repayment is reduced one-for-one with that index’s decline, and investors can lose their entire investment. Key risks include issuer and guarantor credit risk, potentially large losses from modest index declines below the buffer, uncertain secondary market liquidity, and complex, uncertain tax treatment.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indexes and maturing in 2029. These notes can pay a monthly coupon of $8.125 per $1,000 (0.8125% per month, up to 9.75% per year) whenever each index is at or above 70% of its initial level on the observation date.

The notes are automatically called, returning principal plus the due coupon, if on a call observation date each index is at or above its initial level. If the notes are not called and, at maturity, any index is below 60% of its initial level, repayment of principal is reduced based on the worst-performing index and investors can lose their entire investment. Investors do not receive dividends from the indexes and are exposed to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering index-linked notes that pay no interest and return depends on the lesser performer of the Nasdaq-100 Futures Excess Return™ Index and the S&P 500® Futures Excess Return Index.

At maturity, for each $1,000 note, investors get upside exposure of 195.2% of the gain in the weaker index if both indices finish above their initial levels. If either index is at or below its initial level but both stay at or above 85% of initial, investors simply receive $1,000 back.

If any index closes below 85% of its initial level, principal is reduced using a buffer rate of about 117.65%, so losses accelerate below that threshold and investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and its parent, and the estimated value on the trade date is expected between $925 and $955 per $1,000 face amount, below the issue price.

The Goldman Sachs Group, Inc. is offering callable fixed rate notes due 2029 as part of its Medium-Term Notes, Series N program. The notes are expected to pay interest at 4.25% per annum from the expected original issue date of January 30, 2026 to the expected stated maturity date of July 30, 2029, with interest payable semiannually on January 30 and July 30 each year.

Goldman Sachs may redeem the notes, in whole but not in part, on specified quarterly redemption dates starting on July 30, 2026 at a price equal to 100% of the outstanding principal amount plus accrued and unpaid interest. The notes will be issued only in book-entry form through DTC and are unsecured senior debt of The Goldman Sachs Group, Inc., not bank deposits and not insured by any governmental agency. Sales are subject to various distribution and investor eligibility restrictions in the EEA, United Kingdom, Hong Kong, Singapore, Japan and Switzerland, and Goldman Sachs & Co. LLC will act as underwriter, with the relationship treated as a conflict of interest under FINRA Rule 5121.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering trigger autocallable GEARS linked to the common stock of Advanced Micro Devices, Inc. (AMD). The $10-denominated notes offer 1.50x leveraged upside participation if, at maturity, AMD’s final price is above its initial price and the notes have not been called. A downside threshold is set at 75.00% of the initial AMD price; if AMD finishes below this level, investors are fully exposed to AMD’s decline and can lose their entire principal.

The notes may be automatically called after about one year if AMD’s price is at least 100.00% of its initial level, paying $10 plus a call return expected to be between 34.50% and 36.50%. The securities pay no coupons, are unsecured and unsubordinated obligations, are not listed on any exchange, and carry both market risk tied to AMD and credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value at pricing is expected to be between $9.35 and $9.65 per $10 face amount, below the 100.00% issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering unsecured Trigger Autocallable GEARS notes linked to the common stock of Broadcom Inc. The notes are issued at 100% of face amount in $10 denominations, with underwriting discounts of 2.50% of face and net proceeds of 97.50% of face to the issuer. The estimated value is between $9.30 and $9.60 per $10 face amount.

The notes may be automatically called on the call observation date on January 28, 2027 if Broadcom’s share price is at or above 100% of the initial price, paying $10 plus $10 times a call return expected between 30.50% and 32.50%. If not called, at maturity on January 25, 2029 holders get $10 plus 1.5 times any positive stock return, $10 back if the final price is between 75.00% and 100.00% of the initial price, or a loss matching the full negative stock return if the final price is below the 75.00% downside threshold.

The notes pay no interest or dividends, can result in a total loss of principal, and all payments depend on the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc. The minimum initial investment is $1,000, and the securities are not listed on any exchange, so liquidity may be limited.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering notes whose payoff depends on the worst performer among L3Harris, RTX and Lockheed Martin common stocks. The notes pay no interest and return cash only at maturity, expected to be January 26, 2028.

If all three stocks finish at or above their initial prices, investors receive $1,000 plus 4.025 times the return of the worst-performing stock. If any stock is down but all remain at or above 90% of their initial prices, investors receive only the $1,000 face amount. If any stock closes below 90% of its initial price, repayment is reduced in line with the worst stock’s loss, and investors can lose their entire investment.

The estimated value at pricing is expected to be between $925 and $965 per $1,000 face amount, reflecting upfront fees and hedging costs, and the notes carry the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.