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.
Goldman Sachs, through GS Finance Corp., describes the S&P 500® Volatility Plus Daily Risk Control Index, which can underlie its Medium-Term Notes, Series F and Warrants, Series G guaranteed by The Goldman Sachs Group, Inc. The index provides leveraged exposure to the S&P 500® Index using a dynamic volatility target equal to S&P 500 realized volatility plus 10%, with exposure bounded between 100% and 200%.
The index launched on March 21, 2022, has data available back to December 31, 1991, and is calculated and maintained by S&P Dow Jones Indices LLC. Using a mix of hypothetical and historical data through July 1, 2026, the index shows annualized returns of 34.40% over 1 year and 29.23% over 3 years, with annualized volatility of 22.56% and 25.18% respectively. As of July 1, 2026, its exposure to the S&P 500® Index is 168.55%.
The supplement emphasizes that past and hypothetical performance are not indicative of future results and outlines numerous risks, including credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., leverage and volatility-targeting risks, the possibility of receiving less than face amount, and the limited operating history of the index.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Medium-Term Notes, Series F whose payments are linked to the S&P 500® Futures Excess Return Index (Bloomberg: SPXFP). This index tracks the nearest quarterly E-mini S&P 500 futures contract on the Chicago Mercantile Exchange and has a base value of 100 on its base date of September 9, 1997.
The index launched on August 11, 2010 and is calculated by S&P Dow Jones Indices LLC. For the period ended July 1, 2026, the index showed annualized returns of 16.78% (1 year), 14.23% (3 years), 8.61% (5 years) and 11.00% since January 4, 2021, with corresponding annualized volatility up to 16.91%, although past performance is not indicative of future results.
Comparatively, over the same horizons, the S&P 500® Index had higher annualized returns of 20.74% (1 year), 18.91% (3 years), 11.61% (5 years) and 13.69% since January 4, 2021. The notes involve risks including issuer and guarantor credit risk, lack of dividends or shareholder rights, potential negative roll yields in futures, and the possibility that changes in the underlier or its sponsor’s policies may affect market value and payout.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing Autocallable S&P 500 Futures Excess Return Index-Linked Notes due July 28, 2031 with an aggregate face amount of $431,000. The notes pay no interest and are unsecured obligations subject to the credit risk of both GS Finance Corp. and the guarantor.
The notes are linked to the S&P 500 Futures Excess Return Index, based on E-mini S&P 500 futures rather than the S&P 500 Index itself. On the July 30, 2027 call observation date, if the index is at least 90% of its initial level of 592.51, the notes are automatically called for $1,100 per $1,000 face amount on August 4, 2027.
If not called, at maturity investors receive: leveraged upside of 2.5x positive index return; full principal repayment if the index decline is up to 45% (trigger buffer at 55% of initial level); or a dollar-for-dollar loss if the decline exceeds 45%, with the potential to lose the entire investment. The estimated value is approximately $963 per $1,000 at pricing, below the 100% issue price, reflecting fees, hedging costs and structuring economics.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing Buffered Digital S&P 500 Index-Linked Notes due October 13, 2027 with an aggregate face amount of $558,000. The notes pay no interest and return at maturity depends solely on S&P 500 Index performance between the initial level of 7,408.30 on the July 23, 2026 trade date and the final level on October 8, 2027.
If the index return is at or above -7.25% (final level at least 92.75% of initial), holders receive a capped amount of $1,072.5 per $1,000 face amount. If the index return is between -20% and -7.25%, the payoff equals $1,000 plus the absolute index return, giving positive returns on moderate declines. Below a -20% index move (final level under 80% of initial), principal is reduced dollar-for-dollar beyond the 20% buffer, and investors can lose a substantial portion of principal.
The original issue price is 100% of face amount, with a 0.5% underwriting discount and 99.5% net proceeds to the issuer. The estimated value on the trade date is approximately $985 per $1,000. Payments are unsecured and subject to the credit risk of GS Finance Corp. and the guarantor. For U.S. tax purposes, the notes are treated as contingent payment debt instruments with a comparable yield of 4.8308% and projected payment at maturity of $1,060.42 per $1,000.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering market-linked, auto-callable medium-term notes maturing on August 2, 2029, linked to the common stock of SoFi Technologies, Inc. Each security has a $1,000 face amount.
The notes pay a (about 21.20% per annum) only if the SoFi stock closing price on the relevant monthly calculation day is at or above the coupon threshold price, set at 60% of the starting price. A “memory” feature allows previously missed coupons to be paid later if a future calculation day meets the threshold.
From October 2026 through June 2029, if on any call date the stock price is at or above the starting price, the notes are automatically called for the face amount plus the then-due and any unpaid coupons. If not called, at maturity investors receive $1,000 per security if the final stock price is at or above the downside threshold (also 60% of the starting price). If the final price is below that level, repayment is $1,000 × (ending price ÷ starting price), exposing investors to losses of more than 40% and up to the full principal.
The estimated value on the pricing date is expected to be $925–$955 per $1,000, below the $1,000 offering price. Underwriting discount is up to 2.325% (up to $23.25 per $1,000), and all payments are subject to the unsecured credit risk of GS Finance Corp. and the guarantor.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $500,000 of Medium-Term Notes, Series F linked to the common stock of AeroVironment, Inc. Payments depend on the stock’s performance and the credit of the issuer and guarantor.
The notes pay a contingent quarterly coupon only if the underlier’s closing level on each observation date is at least the coupon trigger level, set at 50% of the initial level of $150.35. The notes are automatically called if the underlier is at or above the initial level on specified call observation dates, returning $1,000 per $1,000 face amount plus any due coupon.
If not called, at maturity investors receive $1,000 per note if the final level is at or above the 50% trigger buffer level; otherwise, repayment is reduced one-for-one with the underlier’s loss, and investors could lose their entire investment. The estimated value at pricing is less than the 100% issue price, the notes are unsecured, not listed, and carry significant market, credit, liquidity and tax risks, including treatment as an income-bearing pre-paid derivative contract.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable income-bearing notes linked to the VanEck Semiconductor ETF. The notes have a stated maturity of July 28, 2031 and an aggregate face amount of $400,000 on the original issue date, in $1,000 denominations.
Investors may receive monthly coupons of $9.542 per $1,000 (0.9542% monthly, about 11.45% per annum) on observation dates when the ETF is at or above 80% of its $580.17 initial level; otherwise no coupon is paid. The notes are subject to an automatic call from July 2027 through June 2031 if the ETF is at or above 95% of the initial level, in which case holders receive $1,000 plus the due coupon.
At maturity, if not called and the ETF is at or above the 80% buffer level, holders receive $1,000 plus any final coupon; if below, principal is reduced in line with the ETF decline beyond the 20% buffer. The notes carry the credit risk of GS Finance Corp. and the guarantor, and the estimated value on the trade date is $944 per $1,000, below the 100% issue price, reflecting fees, hedging and structuring costs.
The Goldman Sachs Group, Inc. established a new class of preferred stock, its 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA, with a liquidation preference of $25,000 per share. The terms are set out in a Certificate of Designations filed in Delaware on July 23, 2026.
Upon issuance of the Series AA Preferred Stock, the ability to declare or pay dividends on, or purchase, redeem or otherwise acquire, Goldman Sachs common stock will be restricted if dividends on the Series AA are not paid, as described in the Certificate of Designations. Additional exhibits cover depositary shares representing interests in the Series AA under an existing Form S-3 registration statement.
GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering $1,217,000 of autocallable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest and return at least the $1,000 face amount at maturity, subject to issuer and guarantor credit risk.
Each year, the notes are automatically called if the index is at or above a rising call level, paying $1,000 plus a fixed call premium per $1,000 (from 13.20% in 2027 up to 79.20% in 2032). If never called, maturity payment equals $1,000 plus 100% of any positive index return; if the index is flat or down, only $1,000 is repaid.
The initial index level is 113.37; the upside participation rate is 100%. The notes are issued at 100% of face but have an estimated value of $891 per $1,000 on the trade date, reflecting fees and hedging costs. The index uses daily rebalancing, a 5% volatility control, a momentum risk control overlay, and a 0.65% per annum deduction, which can materially dampen index performance.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is issuing leveraged callable notes linked to the S&P 500® Futures Excess Return Index, with an aggregate face amount of $1,637,000. The notes are issued at 100% of face amount, with a 4.125% underwriting discount and 95.875% of face amount in net proceeds to the issuer.
The notes pay no interest and mature on July 28, 2033, unless redeemed early starting July 28, 2027 at 100% plus a call premium that steps up from 11.0004% to 76.0861%. If not redeemed, investors receive at maturity, per $1,000, either $1,000 if the index return is zero or negative, or $1,000 plus 4x the positive index return based on an initial underlier level of 592.51 and a 400% upside participation rate.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor. The estimated value on the trade date is approximately $921 per $1,000 face amount, below the issue price, and the notes are treated as contingent payment debt instruments for U.S. tax purposes, with a comparable yield of 5.43%.