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., fully guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Contingent Coupon VanEck Semiconductor ETF-Linked Notes due 2027 under its Medium-Term Notes, Series F program. The notes are linked to the VanEck Semiconductor ETF (SMH), not directly to its underlying index.
Investors may receive a contingent monthly coupon of $16.209 per $1,000 face amount (1.6209% monthly, up to about 19.45% per annum) only when the ETF’s closing level on a coupon observation date is at or above the coupon trigger level of 60% of the initial underlier level. The same 60% threshold serves as the trigger buffer level for principal protection at maturity.
If on any call observation date from February 10, 2027 through August 10, 2027 the ETF closes at or above its initial level, the notes are automatically called at $1,000 per note plus any due coupon, ending the investment early. If the notes are not called and, on the September 10, 2027 determination date, the ETF is at or above 60% of its initial level, investors receive $1,000 per note plus the final coupon. If the final level is below 60%, principal repayment is reduced one-for-one with the ETF decline, so losses can reach 100% of invested principal.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., will not be listed on any exchange, and may trade at prices below the original issue price. The estimated value on the trade date is expected to be lower than the original issue price due to distribution costs and dealer markups, and secondary market liquidity is not assured.
Goldman Sachs is offering notes linked to the BlackRock® Dynamic Factor Index, which tracks the performance of a dynamic basket of up to five equity ETFs, up to three Treasury bond ETFs and a cash constituent, after deducting a notional financing rate equal to SOFR + 0.26161% + 0.65% per annum (accruing daily). The index allocates among equity, fixed income and cash using factor signals (economic regime, value, momentum) and interest-rate trends, subject to a 5% volatility target, and may shift a large portion into cash when volatility rises.
Performance data from January 1, 2021 to July 1, 2026 show annualized returns of -2.18% for the index versus 15.30% for the S&P 500 proxy ETF and -1.71% for the 7‑10 year Treasury ETF, with index volatility of 4.96% and a maximum drawdown of -19.10%. As of July 1, 2026, the index allocated 41.85% to cash, 44.04% to Treasury ETFs and the balance across U.S. equity factor ETFs. The disclosure highlights numerous risks, including that the underlying assets must outperform the notional interest rate plus fee for the index level to rise, that the index may be significantly invested in cash, and that only limited post‑LIBOR performance history is available.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent coupon auto-callable notes linked to the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index with an aggregate face amount of $5,996,000. The notes pay a monthly contingent coupon of $8.75 per $1,000 (0.875%, up to 10.50% per year) only if on each observation date all three indexes are at or above 70% of their initial levels. The notes may be automatically called quarterly if all underliers are at or above their initial levels, returning principal plus the applicable coupon.
If the notes are not called and on the determination date any index closes below 70% of its initial level, repayment of principal is reduced 1:1 with the worst-performing index, based on its lesser performing underlier return, and investors can lose their entire investment. Payments depend on the credit of GS Finance Corp. and the guarantor, and the estimated value at pricing is lower than the 100% issue price due to fees, structuring costs and dealer margins. Tax treatment is uncertain; counsel views the notes as income-bearing pre-paid derivative contracts, with coupons likely taxed as ordinary income.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable contingent coupon index-linked notes due 2031 tied to the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index. The notes pay a monthly contingent coupon of $8.459 per $1,000 (0.8459%, up to ~10.15% p.a.) only if each index is at or above 70% of its initial level on the relevant observation date.
The notes are “worst-of” and principal-at-risk. If not called and any index finishes below 70% of its initial level at maturity, repayment of principal is reduced one-for-one with the lesser performing index, down to a possible zero recovery; investors could lose their entire investment. Automatic call can occur monthly (from February 2027) if all indexes are at or above initial levels, returning $1,000 per note plus the coupon then due.
Investors face the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value at pricing is disclosed as less than the 100% issue price, secondary market liquidity is uncertain, the notes are unlisted, and U.S. tax treatment is described as uncertain, with the issuer’s counsel treating them as income-bearing prepaid derivative contracts.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Underlier-Linked Notes due 2029 tied to the Dow Jones Industrial Average, Russell 2000 Index and VanEck Semiconductor ETF. Each note has a $1,000 face amount and pays no interest.
The notes can be automatically called monthly starting July 30, 2027 if each underlier is at or above its initial level, paying $1,000 plus a call premium (from 25.7508% on the first call date up to 75.1065% on the last). If never called and on the July 30, 2029 determination date all underliers are at or above initial, investors receive $1,000 plus a 77.2524% maturity premium. If the worst underlier is below initial but at or above its 70% trigger buffer level, principal is returned. If the worst underlier falls below 70% of its initial level, repayment equals $1,000 times the lesser performing underlier return, exposing investors to up to a 100% loss of principal.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed, and may trade at values below the original issue price. The estimated value at pricing is lower than the issue price. U.S. tax treatment is uncertain; the issuer intends to treat the notes as pre-paid derivative contracts and highlights possible application of constructive ownership rules and FATCA.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Contingent Coupon Index-Linked Notes due July 27, 2029, linked to the Russell 2000® Index, S&P 500® Index and Nasdaq-100 Index®.
The notes may be automatically called on quarterly call observation dates from October 2026 through April 2029 if the closing level of each index is at or above its initial level; in that case, investors receive the $1,000 face amount plus any due coupon.
The notes pay a contingent coupon of $33.125 per $1,000 (3.3125% quarterly, up to 13.25% per annum) only if, on every trading day in the relevant quarter, each index stays at or above 70% of its initial level; otherwise the coupon for that quarter is zero.
If not called, at maturity investors receive any final coupon plus: $1,000 per note if the final level of each index is at least 60% of its initial level; otherwise, $1,000 plus the return of the lesser-performing index times $1,000, exposing investors to 1-for-1 downside beyond a 40% decline and possible total loss of principal. The estimated value at pricing is expected between $925 and $955 per $1,000, below the issue price, and the notes are unsecured obligations 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 equity-linked notes whose return is tied to an equally weighted basket of five large-cap technology stocks: Alphabet, Amazon.com, Meta Platforms, Microsoft and Oracle. Each stock has a 20% initial weight and initial weighted value of 20, setting the initial basket level at 100.
The notes pay no interest and mature on August 9, 2027. At maturity, the cash payment per $1,000 face amount depends on the basket return between July 21, 2026 and the determination date of August 5, 2027. If the final basket level is above the initial level, investors receive $1,000 plus 3× the basket return, subject to a cap level of 112.1% of the basket and a maximum settlement amount of $1,363. If the final basket level is at or below the initial level, the payoff equals $1,000 plus the basket return, exposing principal to full downside and potential total loss.
The offering size is initially $1,000,000 aggregate face amount, in $1,000 denominations. The original issue price is 100% of face, with a 0.95% underwriting discount and net proceeds of 99.05% to the issuer. The issuer estimates the initial economic value at approximately $954 per $1,000 note. The structure embeds extensive provisions for market disruption events, anti-dilution adjustments, and default amounts, and is subject to the unsecured credit risk of GS Finance Corp. and the guarantor.
GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., offers medium-term notes whose payments are linked to the BlackRock® Dynamic Factor Index. The index combines a basket of five U.S. equity factor ETFs, three U.S. Treasury ETFs and a cash constituent, and seeks to capture the extent to which this portfolio outperforms the sum of SOFR + 0.26161% + 0.65% per annum, with the fee accruing daily.
The equity basket is tilted monthly toward factors such as economic regime, value and momentum, while the fixed income basket is rebalanced daily based on interest-rate trends. A volatility-control mechanism reallocates among equity, bonds and cash to target 5% annualized volatility, which has recently led to high cash weights; the cash constituent reached up to 85.5% historically and stood at 41.85% on July 1, 2026. Since January 1, 2021 through July 1, 2026, the index showed annualized performance of -2.18% with realized volatility of 4.96% and a maximum drawdown of -19.10%, compared with higher returns but much higher volatility for the S&P 500 benchmark ETF.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable, equity-linked notes tied to the common stocks of Caterpillar Inc. and GE Vernova Inc.. The notes have a $1,000 face amount, bear no interest, and are expected to mature on August 2, 2029, unless automatically called on the expected July 29, 2027 call observation date.
The notes are automatically redeemed if, on the call observation date, each stock’s closing price is at least 75% of its initial price, paying a fixed $1,325.5 per $1,000 on the expected August 3, 2027 call payment date. If not called, the maturity payout depends on the lesser performing stock: if both final prices exceed initial, investors receive 2x the lesser return; if both are at least 50% of initial but either is at or below initial, investors receive the absolute value of the lesser return. If any final price falls below 50% of initial, investors participate one-for-one in the loss of the weaker stock and can receive significantly less than 50% of face value, up to a total loss of principal.
The estimated value on the trade date is expected to be $925–$955 per $1,000, below the issue price, reflecting fees, hedging and issuer economics. Payments are subject to the unsecured credit risk of GS Finance Corp. and the guarantor, and secondary market liquidity is uncertain.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Index-Linked Notes due 2029 linked to the Nasdaq-100 Index® and the S&P 500® Index. The notes have a $1,000 face amount and pay no interest.
The notes may be automatically called monthly if both indices are at or above their initial levels on a call observation date, paying $1,000 plus the applicable call premium (starting at 11.3004% and rising to 32.9595%). If not called, at maturity investors receive a capped payoff based on the lesser-performing index: $1,000 plus a 33.9012% premium if both indices end at or above initial levels, $1,000 if the worst index stays at or above its 85% buffer level, and a loss beyond a 15% buffer if the worst index finishes below its buffer. Principal is at risk and the notes are subject to the credit risk of GS Finance Corp. and the guarantor.