GOLDMAN SACHS GROUP INC (GS) SEC Filings, Aug 26, 2026

Goldman Sachs Group Inc. (GS), via GS Finance Corp. and its Series F medium-term note program, is offering auto-callable index-linked notes tied to a Class A subordinate voting share of Shopify Inc. The notes are guaranteed by The Goldman Sachs Group, Inc.

The notes have a face amount in $1,000 denominations, issue at 100% of face, carry an underwriting discount of 1.85% and net proceeds of 98.15% of face to the issuer. They pay contingent quarterly coupons of $37.50 per $1,000 (3.75% quarterly, up to 15% per annum) only if Shopify’s share price on the observation date is at or above 49.1% of the initial index stock price; otherwise the coupon is zero.

The notes may be automatically called starting March 2027 if the index stock closes at or above the initial price on a call observation date, returning face value plus the applicable coupon. If not called, at maturity in August 2028 investors receive face value plus any final coupon if the final price is at or above 49.1% of the initial price; if it is below that level, repayment is reduced one-for-one with the stock loss, potentially to zero, with no coupon. The estimated value on the trade date is expected between $925 and $955 per $1,000, reflecting structuring and distribution costs, and payments are subject to the unsecured credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering index-linked notes due September 7, 2029, whose payoff depends on the lesser performance of the Russell 2000® Index and the Nasdaq‑100 Index® between an expected trade date of September 4, 2026 and an expected determination date of September 4, 2029. The notes pay no interest and are unsecured obligations guaranteed by The Goldman Sachs Group, Inc.

For each $1,000 note at maturity: if both index returns are at least 0%, payment equals $1,000 plus 107% of the lesser positive index return. If any index return is negative but both final levels are at least 80% of their initial levels, payment equals $1,000 plus the absolute value of the lesser negative return (a 5% decline yields a 5% gain). If any index ends below 80% of its initial level, payment equals $1,000 times the lesser index return plus 20%, so investors lose principal once the lesser index return is worse than ‑20%. Hypothetical examples show outcomes from 207.000% of face at a 200% lesser index level down to 20.000% of face at a 0% lesser index level.

The notes’ estimated value on the trade date is expected between $925 and $955 per $1,000 face amount, below the 100% original issue price due to underwriting discounts, hedging and structuring costs. The structure embeds significant market risk, reliance on the lesser-performing index, limited upside (via the 107% participation rate), a 20% buffer, lack of interest payments, potential illiquidity, and the credit risk of both GS Finance Corp and its parent guarantor.

Goldman Sachs Group, Inc. (GS), through GS Finance Corp., is offering Medium-Term Notes, Series F whose payments are linked to the BlackRock® Dynamic Factor Index. This index combines an equity ETF basket of five factor iShares ETFs, a fixed income ETF basket of three Treasury iShares ETFs, and a cash constituent tied to a notional interest rate.

The index measures how this portfolio performs relative to the sum of SOFR plus 0.26161% plus an additional 0.65% per annum fee, accruing daily. A volatility control mechanism targets 5% annualized volatility, which can shift a large share of exposure into the cash constituent; historically, cash has reached up to 85.5% of the index. As of August 3, 2026, major weights included the iShares 1–3 Year Treasury Bond ETF and iShares 7–10 Year Treasury Bond ETF at 30.54% each and cash at 17.50%. Since January 1, 2021, the index showed -2.37% annualized performance with 4.95% annualized realized volatility and a -19.10% maximum drawdown, versus the iShares Core S&P 500 ETF’s 15.36% annualized return and -33.90% maximum drawdown. Net proceeds from the notes will be lent to The Goldman Sachs Group, Inc. or its affiliates and may be used for general corporate purposes and hedging.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering $1,000,000 aggregate face amount of Medium-Term Notes, Series F linked to the Nasdaq-100 Index®. The notes pay no interest and may be automatically called on August 31, 2027 if the index closing level is at or above the initial level of 29,023.18, in which case investors receive a fixed $1,130 per $1,000 face amount on September 3, 2027.

If not called, the August 29, 2028 maturity payment depends on index performance. Above the initial level, investors receive $1,000 plus 150% of the index gain. Between 75% and 100% of the initial level, investors receive only their $1,000 principal. Below 75%, principal is exposed 1:1 to the index loss and investors can lose their entire investment. The notes are unsecured obligations of GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., and are subject to the credit risk of both. The original issue price is 100% of face amount, including a 2% underwriting discount, yielding 98% in net proceeds to the issuer. The notes will not be listed, and secondary market value may be significantly below face.

Goldman Sachs Group Inc. (GS), via issuer GS Finance Corp., is offering autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index, maturing in 2033 and fully and unconditionally guaranteed by Goldman Sachs Group Inc. Payment at maturity, if the notes are not called, depends on index performance: for each $1,000 face amount, investors receive $1,000 plus 100% of any positive index return, and only $1,000 if the index is flat or negative.

The notes feature annual automatic call observations from 2027 to 2032; if on an observation date the index is at or above the rising call level (from 100.75% to 104.50% of the initial level), investors are repaid $1,000 plus a call premium of at least 13% to 78%. The underlying index is a rules-based, daily rebalanced strategy with a 5% volatility control, momentum risk control, and a 0.65% per annum deduction, and can hold substantial hypothetical cash, which can significantly dampen index returns. The issuer’s estimated value on the trade date is $850–$890 per $1,000, below the issue price, and the notes are treated as contingent payment debt instruments for U.S. tax purposes, requiring accrual of ordinary income over the term.

Goldman Sachs Group, Inc. (GS), as guarantor, is supporting GS Finance Corp.’s issuance of index-linked Medium-Term Notes, Series F, due March 28, 2030. The notes’ payoff is tied to the Goldman Sachs Momentum Builder® Focus ER Index, a rules-based, volatility- and momentum-controlled multi-asset index.

At maturity, investors receive at least the $1,000 face amount per note. If the final index level exceeds the initial level, the payoff equals $1,000 plus 475% or more of the index return, offering leveraged upside without downside below par (subject to issuer and guarantor credit risk). The index applies a 5% volatility control and a 0.65% per annum deduction, and often allocates substantially to cash-like positions, which can materially dampen index gains.

The notes pay no periodic interest, have limited secondary market liquidity and an estimated value below the original issue price due to fees and hedging costs. For U.S. tax purposes they are treated as contingent payment debt instruments, generally requiring accrual of taxable income over the term even though cash is only received at maturity.

GOLDMAN SACHS GROUP INC (GS), via GS Finance Corp, is offering autocallable notes linked to the Goldman Sachs Momentum Builder ^® Focus ER Index, maturing in 2031 and fully guaranteed by Goldman Sachs Group, Inc. The notes are issued at 100% of face amount but have an estimated value of $850 to $880 per $1,000 on the trade date, reflecting fees and structuring costs.

The notes may be automatically called on September 27, 2027 if the index closing level is at or above the initial level, paying $1,140 per $1,000 on September 30, 2027. If not called, at maturity investors receive: (i) $1,000 + 300% of any positive index return, or (ii) $1,000 if the index has not risen, so principal is repaid but upside is contingent and leveraged. The notes pay no periodic interest and secondary market value may be below face.

The underlying index is a rules-based strategy that reallocates daily among equity, bond, commodity and cash-equivalent exposures, with a 5% volatility control, a momentum risk control overlay and a 0.65% per annum deduction on the index (plus federal funds rate deduction on the base index). A large portion of the index may be in low-yield cash positions, which can materially dampen index performance. For U.S. tax purposes, the notes are expected to be treated as contingent payment debt instruments, requiring annual accrual of ordinary income based on a IRS-style “comparable yield,” even though cash is generally only received at call or maturity.

GOLDMAN SACHS GROUP INC (GS), through GS Finance Corp., is offering EURO STOXX 50® index-linked notes due September 16, 2031, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return depends entirely on index performance between the September 11, 2026 trade date and the September 11, 2031 determination date.

At maturity, for each $1,000 note, holders receive: if the final index level is at or above the initial level, the greater of a threshold settlement amount of at least $1,558.50 or $1,000 plus $1,000 times the index return. If the final level is below the initial but not below 75% of it, holders receive $1,000. If the final level is below 75% of the initial level, principal is exposed 1-for-1 to the index decline and principal losses can reach 100%.

The notes are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any exchange, and may have limited or no secondary market. The original issue price is higher than the model-based estimated value, reflecting underwriting discounts, structuring fees and other costs, which can depress secondary market prices. Tax treatment is uncertain; counsel views the notes as prepaid derivative contracts, but the IRS could assert a different characterization.

GOLDMAN SACHS GROUP INC (symbol: GS) is the issuer of record for a Form 424B2 filing submitted to the SEC.