Goldman Sachs Group Inc SEC Filings

Goldman Sachs (GS) filed a Form 4 reporting a grant of 50 restricted stock units on 10/15/2025 to a director as the third quarter 2025 annual retainers for service on the Issuer’s Board and the Goldman Sachs Bank USA board. The shares underlying these RSUs will be delivered approximately 90 days after the director’s retirement from either board. Following the transaction, 2,641 derivative securities were beneficially owned, held directly.

GS Finance Corp. is offering Autocallable Equity‑Linked Notes due 2028, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes reference Amazon.com, Johnson & Johnson, and Walmart common stocks.

The notes pay no interest. They are automatically called if on the call observation date each underlier is at or above its initial level; in that case, you receive $1,300 per $1,000 on the call payment date. If not called, at maturity you receive: (i) if each final underlier level is above its initial level, $1,000 + 650% of the lesser‑performing underlier return; (ii) if each final underlier level is at or above its 80% buffer level but any is at or below its initial level, $1,000; or (iii) if any final underlier level is below its buffer level, a reduced amount via the 20% buffer formula, which can result in a substantial loss of principal.

Key dates: trade October 24, 2025; original issue October 29, 2025; call observation October 30, 2026; call payment November 4, 2026; determination October 24, 2028; maturity October 27, 2028. The notes are subject to issuer and guarantor credit risk, will not be listed, and market making is not assured. The amount on a call date is capped, and the maturity payout depends solely on the lesser‑performing underlier.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., filed a preliminary 424(b)(2) pricing supplement for Bearish Autocallable Absolute Return notes linked to the S&P 500 Index. The notes pay no interest and are designed for a mildly bearish view, with maturity expected on February 4, 2027.

The notes are automatically called at par if on any observation day the Index closes below 80% of its initial level, resulting in a 0% return. If not called, outcomes at maturity are: at least $1,030 per $1,000 face amount if the Index is flat or higher; a positive “absolute return” up to 20% if the Index is down but not below 80% of the initial level; and $1,000 if the Index is below 80% of the initial level.

The contingent positive return when the Index is flat or higher is set at at least 3%. The estimated value is expected to be $925 to $955 per $1,000 at pricing, reflecting fees and structuring costs. Trade date is expected October 31, 2025; the determination date is expected February 1, 2027.

GS Finance Corp. launched a preliminary pricing supplement for leveraged buffered notes linked to the S&P 500 Index, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes offer 300% upside participation in the index return, subject to a maximum settlement amount expected between $1,170.40 and $1,200.10 per $1,000 face amount.

The structure includes a 10% buffer (buffer level at 90% of the initial level). If the index falls more than the buffer, losses accelerate at approximately 111.11% of the decline below the buffer. The notes do not bear interest and repay at maturity based on the final index level on the determination date. Key dates will be set on the trade date; the determination date is expected to be between 23 and 26 months after the trade date, with the stated maturity two business days later.

The notes are part of Goldman’s Medium‑Term Notes, Series F. They will not be listed, market-making may be limited, and investors are exposed to the credit risk of the issuer and guarantor. Illustrative tables show principal risk if the S&P 500 declines beyond the 10% buffer and capped gains above roughly 105.680% of the initial level.

Goldman Sachs (GS), via GS Finance Corp., filed a preliminary 424(b)(2) for Bearish Autocallable Absolute Return Notes linked to the S&P 500 Index, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and are expected to mature on February 4, 2027.

The notes are automatically called at par if on any daily call observation date the S&P 500 closing level is less than 80% of the initial level, resulting in a 0% return. If not called: at maturity you receive at least $1,035 per $1,000 if the index return is ≥ 0% (a contingent return of at least 3.5%); if the index return is between 0% and -20%, you receive the absolute value of the negative return (capped at 20%); if below -20%, you receive $1,000.

The product is designed for investors who expect the index to end below its initial level but not below 80%, or to rise modestly within the contingent cap. Estimated value at pricing is expected between $925 and $955 per $1,000 face amount. Payments are subject to the credit risk of GS Finance Corp. and the guarantee of The Goldman Sachs Group, Inc. The notes will not be listed.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. (NYSE: GS), filed a preliminary 424(b)(2) for Autocallable Contingent Coupon Index‑Linked Notes tied to the S&P 500, Nasdaq‑100, and EURO STOXX 50. The notes may auto‑call quarterly from April 2026 through January 2029 if each index is at or above its initial level, returning face value plus the coupon.

Coupons of $22.5 per $1,000 (2.25% quarterly, up to 9% p.a.) are paid only if each index is at or above 70% of its initial level on the observation date. At maturity (expected April 19, 2029), if not called: you receive $1,000 plus final coupon if every index is at least 82% of its initial level; between 70%–82%, principal is reduced linearly to as low as 88%; below 70%, principal is reduced further based on the lesser‑performing index and no coupon is paid.

The filing lists an estimated value of $915–$955 per $1,000 at pricing. Denominations are $1,000. The notes are unsecured obligations of GS Finance Corp. and subject to the credit risk of both the issuer and the guarantor. The trade date is expected to be October 15, 2025.

Goldman Sachs (GS) launched a preliminary 424(b)(2) pricing supplement for Callable Fixed Rate Notes due 2045. The notes pay 5.25% per annum from the expected original issue date of October 31, 2025 to the expected stated maturity of October 31, 2045, with interest paid annually on the last calendar day of October. The first interest payment is expected on October 31, 2026.

Goldman Sachs may redeem the notes at 100% of principal plus accrued and unpaid interest, in whole but not in part, on each redemption date (the last calendar day of January, April, July and October) on or after October 31, 2028, with at least five business days’ prior notice. Interest uses the 30/360 (ISDA) day-count convention. The notes will be issued in DTC book-entry form under the Medium‑Term Notes, Series N program, with Goldman Sachs & Co. LLC and InspereX LLC as underwriters. Sales to certain accounts may occur below par per the supplemental plan of distribution, and EEA/UK retail investor restrictions apply.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., filed a preliminary prospectus supplement for auto-callable, income-bearing notes linked to the Class A shares of Robinhood Markets, Palantir Technologies, and the common stock of Tesla. The notes are expected to mature on October 27, 2028, unless automatically called starting in October 2026 through July 2028.

The coupon is contingent each quarter: if each stock closes at or above 60% of its initial price on an observation date, holders accrue $60.625 per $1,000 (6.0625% quarterly, up to 24.25% per year), less prior coupons paid. If any stock is below that 60% level, no coupon is paid for that period. The notes are called if, on a call observation date, each stock is at or above its initial price, returning face amount plus the then-due coupon on the next payment date.

At maturity, if not called and at least one stock finishes at or above its initial price (no “trigger event”), holders receive face amount, plus the final coupon if each stock is at or above 60% of its initial price. If all three finish below their initial prices (a trigger event), repayment is based on the worst performer’s return, capped at face amount and potentially well below it if that stock is under 60%. The estimated value is expected to be $925–$965 per $1,000 face amount.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering NVIDIA-linked, no-coupon notes under Rule 424(b)(2). The notes may be automatically called on October 19, 2026 if NVDA’s closing price is at or above the initial price of $183.16, paying $1,200 per $1,000 on October 22, 2026. If not called, they mature on October 14, 2027 with return based on NVDA’s performance.

At maturity: if NVDA is at or above the initial price, the payoff equals $1,000 plus 135% of the index return. If NVDA is below the initial price but down by no more than 30% (i.e., at or above 70%), the payoff reflects the absolute decline (e.g., -10% stock return pays +10%). Below the 70% trigger, losses match the stock’s decline and can result in losing most or all principal.

The notes’ estimated value at pricing is $951 per $1,000. Aggregate face amount is $948,000; the original issue price is 100% with a 2.25% underwriting discount and 97.75% net proceeds. The notes do not pay interest and are subject to the credit risk of the issuer and guarantor.