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, Inc., is offering zero-coupon notes linked to an equally weighted basket of 15 U.S.-listed stocks including Alphabet, Meta, Costco and Boeing. The notes mature on an expected stated maturity date of June 14, 2027, with performance measured from an expected trade date of December 9, 2025 to an expected determination date of June 9, 2027.
For each $1,000 face amount, investors receive 3x the positive basket return if the final basket level is above the initial level, capped at a maximum settlement amount of $1,277.5 when the basket reaches 109.25% of its initial level. If the basket falls by up to 25%, investors receive the full $1,000, but if it declines by more than 25%, repayment is reduced one-for-one with the basket return, and investors can lose their entire principal. The notes pay no interest, have an estimated initial value between $900 and $930 per $1,000, and expose holders to 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 $10 face-amount Trigger Autocallable Contingent Yield Notes linked to the worst performer of the S&P 500®, Russell 2000® and EURO STOXX 50® indices. The notes target quarterly contingent coupons between $0.25625 and $0.2625 per $10 (up to about 10.25%–10.50% per year) if on each observation date all three indices are at or above 75% of their initial level.
Starting in May 2026, the notes are automatically called if, on any quarterly observation date, each index is at or above its initial level; in that case investors receive $10 plus the due coupon and the product terminates. If the notes are not called and, on the November 27, 2028 determination date, every index is at or above its 75% downside threshold, investors get back $10 per note plus the final coupon.
If at maturity any index is below its downside threshold, repayment is reduced one-for-one with the loss of the worst-performing index and no final coupon is paid, so investors can lose some or all principal. The notes are unsecured, subject to the credit risk of GS Finance Corp. and its parent, and the estimated value at pricing is expected to be $9.50–$9.80 per $10 face amount.
GS Finance Corp. is offering S&P 500® Index-linked notes due December 7, 2028, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes repay the $1,000 face amount at maturity and provide equity-linked upside to the S&P 500® Index.
If the index level at final valuation is above its initial level, investors receive $1,000 plus the index return, capped at a maximum settlement amount of $1,195 per $1,000 note (119.5% of face). If the index is flat or lower, investors receive only the $1,000 face amount, with no additional return.
The notes pay no periodic interest, may trade below face value before maturity, and are subject to the credit risk of GS Finance Corp. and its parent guarantor. For U.S. tax purposes, they are treated as contingent payment debt instruments, generally requiring holders to accrue ordinary income annually based on a comparable yield, with any gain at sale or maturity taxed as ordinary interest income.
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. The notes do not pay interest and return depends solely on index performance from the initial level (set on the expected December 29, 2025 trade date) to the final level on the expected June 29, 2028 determination date.
At maturity, for each $1,000 note, investors receive: full principal plus upside at an upside participation rate of at least 104% if the index return is zero or positive; a positive return equal to the absolute index loss if the index is down but not by more than 15%; or principal reduced by index loss in excess of the 15% buffer if the index falls more than 15%. The S&P 500® Futures Excess Return Index tracks E-mini S&P 500 futures, so performance can differ from the S&P 500® Index itself.
The estimated value on the trade date is expected to be between $925 and $955 per $1,000 face amount, reflecting structuring costs and dealer compensation. Payments are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and the notes will not be listed on any exchange.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering unsecured notes linked to the S&P 500® Futures Excess Return Index, with a stated maturity expected in late December 2030 and $1,000 minimum denominations. The notes pay no interest and the payoff depends entirely on the index level on the determination date, not on any earlier levels.
If the index return is zero or positive, investors receive the greater of a threshold settlement amount of at least $1,415 per $1,000 face amount or $1,000 plus the index gain. If the index return is negative but not below -30% (the index stays at or above 70% of its initial level), investors receive $1,000 plus the absolute index loss as a gain. If the index falls more than 30% (below 70% of the initial level), principal is lost one-for-one with the index, up to a total loss of the investment.
The structure is exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date is expected between $885 and $925 per $1,000, reflecting dealer costs and hedging, and secondary market prices may be lower. Tax treatment is complex and described as a pre-paid derivative contract, with potential future law changes highlighted as a key risk.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable notes linked to the Goldman Sachs Momentum Builder ® Focus ER Index, maturing in 2032. The notes do not pay periodic interest. If on any annual call observation date the index is at or above a rising call level (from 100.75% to 104.50% of the initial index level), the notes are automatically redeemed early at par plus a fixed call premium (from 9% up to 54% of face value).
If the notes are never called, at maturity investors receive at least the $1,000 face amount per note and participate 100% in any positive index return; if the index is flat or negative, only principal is repaid. Goldman’s estimated value on the trade date is $850 to $880 per $1,000 face amount, below the issue price, reflecting fees and hedging costs.
The underlying index is a rules-based, volatility- and momentum-controlled strategy with a 5% volatility target and a 0.65% per annum deduction that can heavily allocate to cash-like positions, which may dampen returns. Key risks include the credit risk of GS Finance Corp. and its parent, potentially low or capped returns, limited liquidity, sensitivity to rates and index behavior, and treatment as a contingent payment debt instrument for U.S. tax purposes.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering non-interest-bearing auto-callable notes linked to an equally weighted basket of five stocks: Advanced Micro Devices, AppLovin, Astera Labs, Micron Technology and Robinhood Markets. The basket starts at a level of 100, with each stock given a 20% weight.
The notes have a face amount of $1,000 (aggregate $677,000 initially) and mature on November 29, 2030, but can be automatically called as early as November 23, 2026 if the basket level is at or above the initial level. If called, holders receive $1,000 plus a fixed call premium, starting at 16.75% and rising on later call dates up to 79.5625%.
If not called, maturity payment depends on the basket’s final level. Above or equal to the initial level, investors get $1,000 plus 100% of the basket’s gain. Between a 0% and 50% decline, principal is repaid. Below a 50% decline, losses match the basket drop and can reach 100% of principal. The estimated value is about $885 per $1,000 face due to fees, hedging costs and dealer margins, and payments are subject to 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 an aggregate $4,927,000 of auto-callable buffered income notes linked equally to Apple, Amazon, Alphabet Class C and NVIDIA common stock. The notes mature on November 29, 2028, unless automatically called beginning in November 2026 when, on a call observation date, each stock’s closing price is at or above its initial price ($271.49 AAPL, $220.69 AMZN, $299.65 GOOG, $178.88 NVDA). If called, holders receive the $1,000 face amount per note plus the applicable coupon.
On monthly observation dates, investors receive a $10.417 coupon per $1,000 (1.0417% monthly, up to about 12.5% per year) only if each stock is at or above 60% of its initial price; otherwise the coupon is zero. At maturity, if not called, principal repayment depends solely on the worst-performing stock: full principal plus the final coupon if the worst stock is at least 80% of its initial level, partial principal between 80% and 99.99% if it finishes between 60% and 80%, and a loss of principal with no coupon if it falls below 60%. The original issue price is 100% of face, including a 3.25% underwriting discount, and the estimated value is about $923 per $1,000.
GS Finance Corp. is offering $9,515,500 of Trigger Autocallable Contingent Yield Notes due 2030, guaranteed by The Goldman Sachs Group, Inc. The notes are linked to the least performing of the EURO STOXX 50® Index and the S&P 500® Index, so the weaker index drives results.
Investors may receive a $0.25 quarterly contingent coupon per $10 face amount (up to 10% per year), but only if on each observation date both indices are at or above 70% of their initial levels, which also serves as the downside threshold. Starting in May 2026, the notes are automatically called if both indices are at or above their initial levels, returning face amount plus the coupon then due.
If the notes are not called and on the final observation date in November 2030 either index finishes below 70% of its initial level, repayment of principal is reduced one-for-one with the loss in the lesser performing index, and investors can lose their entire investment. Payments are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing $2,096,000 aggregate face amount of callable notes linked to the S&P 500® Futures Excess Return Index, maturing on November 26, 2030. The notes pay no interest and are unsecured obligations of the issuer, subject to the guarantor’s credit risk.
At maturity, for each $1,000 note investors receive: leveraged upside of 165% of any index gain; full principal repayment if the index is between 80% and 100% of the initial level of 539.99; and a loss of principal if the index falls below 80%, with losses increasing one‑for‑one beyond a 20% drop. The issuer may redeem the notes early on scheduled call payment dates at 100% of face amount plus a call premium that rises over time. The original issue price is 100% of face amount, with a 4.125% underwriting discount and estimated initial value of about $929 per $1,000.