The Goldman Sachs Group, Inc. files regulatory documents that cover operating results, material events, capital structure and corporate governance. Its 8-K filings document earnings releases, Regulation FD disclosures, debt and subordinated debt issuances under shelf registration statements, and changes involving directors or executive officers.
The filing record also identifies Goldman Sachs’ NYSE-listed common stock, preferred depositary shares, capital securities and medium-term notes issued by GS Finance Corp. Proxy materials disclose annual meeting matters, board governance, executive compensation and shareholder voting items, while registration-related exhibits document securities offerings and related terms.
GS Finance Corp., guaranteed by The Goldman Sachs Group, is offering auto-callable notes linked to the iShares Bitcoin Trust ETF and the iShares Ethereum Trust ETF. The notes pay a conditional coupon of $17 per month per $1,000 face amount (1.7% monthly, up to 20.4% per year) whenever both ETFs are at or above 60% of their initial levels on monthly observation dates.
The notes can be automatically called starting in December 2026 if both ETFs are at or above their initial levels, returning $1,000 per note plus the applicable coupon. If not called, principal repayment at maturity in December 2028 depends on the worse-performing ETF. Full principal is returned if each ETF is at or above 50% of its initial level; below 50%, losses match the decline of the weaker ETF and coupons stop, so the entire investment can be lost.
The product embeds crypto-market risk, market-disruption and liquidity risks, issuer and guarantor credit risk, complex tax treatment and the risk of no active secondary market. The estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount, reflecting fees, hedging costs and model-based pricing.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes have an aggregate face amount of $1,362,000, a trade date of December 23, 2025 and mature on December 31, 2030, unless automatically called between December 2026 and September 2030.
Holders can receive a contingent coupon of $20 per $1,000 each quarter (2% quarterly, up to 8% per year) when the index is at least 55% of its initial level of 505.38 on an observation date; no coupon is paid if it is below that level. If on any call observation date the index is at least 85% of the initial level, the notes are automatically redeemed at $1,000 per $1,000 face amount plus the applicable coupon.
If the notes are not called and the index ends below the 55% trigger at maturity, principal is reduced one-for-one with the index loss, and investors can lose their entire investment. The index itself uses up to 500% leverage, applies a 6% per annum daily decrement, and is based on E-mini S&P 500 futures, which introduces leverage, futures, and financing-cost risks. The estimated value on the trade date is approximately $903 per $1,000, versus a 100% issue price, reflecting fees, costs and model-based pricing.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering leveraged callable notes linked to the S&P 500® Futures Excess Return Index. The notes pay no interest and are scheduled to mature in January 2032, unless redeemed early.
At maturity, investors receive at least the $1,000 face amount per note. If the index has risen, the upside is enhanced with a 125% participation rate, so gains are multiplied by 1.25. Starting in February 2027, the issuer may redeem the notes monthly at 100% of face value plus a preset call premium that steps up over time. The notes’ estimated value at pricing is expected to be $885–$925 per $1,000, reflecting fees and hedging costs, and all payments depend on the credit of GS Finance Corp. and its guarantor.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, with an aggregate face amount of $991,000 in $1,000 denominations.
The notes can pay a monthly coupon of $15.834 per $1,000 (about 19% per year) when the index is at least 70% of the initial level of 498.71. Quarterly, starting in June 2026, the notes are automatically called if the index is at or above the initial level, returning principal plus that month’s coupon.
If the notes are not called, principal at maturity in December 2031 depends on the final index level. If the index is at or above 50% of the initial level, investors receive full principal; below that, losses match the index decline, and the entire investment can be lost. The index itself uses up to 500% leverage and applies a daily decrement of 6% per year, which reduces returns versus an equivalent index without this feature. The estimated value is about $942 per $1,000 face amount at pricing, and investors bear the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay quarterly contingent coupons only when the index is at least 60% of its initial level, with the coupon formula targeting at least $27.5 per $1,000 each quarter if conditions are met, for the potential of up to at least 11% per year. The notes can be automatically called on quarterly observation dates starting in January 2027 if the index is at or above its initial level, in which case investors receive $1,000 per note plus the applicable coupon.
If the notes are not called and the index falls below 50% of its initial level at final observation, principal is exposed one-for-one to the decline and investors can lose their entire investment. The underlying index uses up to 500% leverage, targets 40% volatility and applies a 6.0% per annum daily decrement, features that can magnify losses and drag performance. The estimated value at pricing is expected to be between $850 and $890 per $1,000 face amount, below the 100% issue price.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering income-bearing notes linked to Apple, Amazon, Alphabet Class C and NVIDIA stock with a total face amount of $7,944,000 on the original issue date. The notes pay a monthly coupon of $12.292 per $1,000 (1.2292%, about 14.75% per year) only if on each observation date all four stocks are at least 60% of their initial prices. The notes can be automatically called starting in December 2026 if all stocks are at or above their initial prices, returning face value plus the applicable coupon.
If not called, at maturity on January 3, 2029 repayment depends on the worst-performing stock. If the worst stock is at or above 80% of its initial price, investors receive full principal plus any final coupon. If it is between 60% and 80%, principal is partially reduced. If it falls below 60%, investors lose more of their principal and receive no final coupon. The estimated initial value is about $975 per $1,000 face amount, after a 3.25% underwriting discount.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, maturing in 2033. The notes pay no interest and all returns depend on index performance and the credit of the issuer and guarantor.
The notes are automatically called in January 2027 if the index on the December 2026 observation date is at or above its initial level, in which case investors receive $1,170 per $1,000 of face amount. If not called, at maturity investors receive at least the $1,000 face amount, with upside equal to 300% of any positive index return.
The index uses daily rebalancing, volatility and momentum controls and an annual 0.65% deduction, and can allocate heavily to cash-like positions, which can dampen returns. The estimated value on the trade date is between $885 and $925 per $1,000, below the issue price, and the notes are taxed as contingent payment debt instruments, creating taxable income each year even without cash payments.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $250,000 of leveraged buffered notes linked to the S&P 500® Futures Excess Return Index, maturing on December 24, 2030. The notes pay no interest and the amount repaid at maturity depends on the index level on the December 19, 2030 determination date, starting from an initial level of 556.90.
If the index return is zero or positive, investors receive their $1,000 face amount per note plus 1.915 times any positive index return. If the index return is negative but not below -10%, investors still gain the absolute value of the loss, up to a 10% positive return. If the index return is below -10%, losses beyond that 10% buffer reduce principal, so investors can lose a substantial portion of their investment.
The estimated value is $955 per $1,000 face amount on the trade date, versus a 100% issue price, reflecting structuring and distribution costs. The underwriting discount is 0.8% of face, leaving net proceeds of 99.2%. Payments are subject to the credit risk of GS Finance Corp. and its guarantor, and the notes are unsecured, not FDIC insured, and will not be listed on any exchange.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable equity-linked notes tied to Alphabet Class A, Meta Class A and NVIDIA common stock. The notes pay no interest and are scheduled to mature in January 2031 unless Goldman redeems them earlier on monthly call dates from January 2027 through December 2030.
At maturity, if all three stocks finish above their initial prices, holders receive $1,000 plus 3x the gain of the worst-performing stock; if any stock is flat or down, investors only get back the $1,000 face amount. Goldman can call the notes at $1,000 plus a preset call premium that starts at not less than 16.5% in early 2027 and steps up over time, capping upside if redeemed.
The notes are unsecured obligations subject to the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date is expected between $850 and $890 per $1,000, reflecting dealer compensation and structuring costs, and they are expected to be treated as contingent payment debt instruments for U.S. tax purposes.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent income auto-callable securities linked to the common stock of Amazon.com, Inc. The notes may be automatically called quarterly from April 2026 through October 2028 if Amazon’s closing price is at or above the initial share price, returning principal plus the coupon.
The notes pay a contingent quarterly coupon of at least $26.125 per $1,000 only when Amazon’s closing price on a coupon observation date is at or above a downside threshold set at 65% of the initial share price; otherwise no coupon is paid. If the notes are not called and the final share price on the January 2, 2029 determination date is below the downside threshold, investors are exposed 1-to-1 to Amazon’s decline and can lose most or all of principal.
The securities are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value is disclosed as $910 to $970 per $1,000 security, below the 100% issue price, and the underwriting discount is 2.25% of principal.