GOLDMAN SACHS GROUP INC (GS) SEC Filings, Jul 23, 2026

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering contingent income callable yield notes linked to the common stock of NVIDIA Corporation. The notes have a $2,141,000 aggregate face amount, trade on July 21, 2026, and mature on July 26, 2028, unless automatically called earlier.

Each $1,000 note may pay a quarterly contingent coupon of $35 per coupon period if NVIDIA’s closing level on the observation date is at or above 61% of the initial level of $207.29. The notes are automatically called, returning $1,000 plus the due coupon, if NVIDIA’s level is at or above the initial level on any call observation date. If held to maturity and not called, principal is protected only down to the 61% trigger buffer level; below that, repayment is reduced one-for-one with the stock’s negative return and can fall to $0, so investors can lose their entire investment.

The upside is capped at repayment of face amount plus coupons; investors do not participate in any stock appreciation above par. The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor, will not be listed on any exchange, and their estimated value at pricing is less than the 100% original issue price. Tax treatment is uncertain and described as an income-bearing prepaid derivative contract.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering Callable Contingent Coupon Index‑Linked Notes due 2031 tied to the Nasdaq‑100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index. Each note has a $1,000 face amount and, if not redeemed early, pays $1,000 at maturity plus any final coupon.

The notes pay a monthly contingent coupon of $5.834 per $1,000 (0.5834% monthly, up to about 7.00% per year) only if on each observation date the closing level of every underlier is at or above 70% of its initial level; otherwise the coupon for that month is zero. GS Finance Corp. may, at its option, redeem the notes in whole on any coupon payment date from November 2026 through July 2031 for $1,000 per note plus any due coupon, which can shorten the investment term.

The issuer’s estimated value on the trade date is $885 to $925 per $1,000 face amount, below the original issue price, reflecting fees, costs and dealer economics. Investors are exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., may receive no coupons over the life of the notes, and may face limited or illiquid secondary market conditions.

GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering $3,482,000 of Medium‑Term Notes, Series F, whose return depends on the weakest of three underliers: the EURO STOXX 50® Index, State Street® Technology Select Sector SPDR® ETF (XLK) and State Street® Utilities Select Sector SPDR® ETF (XLU).

The notes pay a contingent monthly coupon of $10 per $1,000 (1% monthly, up to 12.00% per annum) on any coupon payment date when the closing level of each underlier is at least 60% of its initial underlier level, which is also the coupon trigger level. The same 60% level is the trigger buffer level; at maturity, if the notes have not been redeemed and every final underlier level is at or above its trigger buffer level, investors receive $1,000 per note plus any final coupon.

If any final underlier level is below its trigger buffer level, the cash settlement amount is $1,000 + ($1,000 × lesser performing underlier return), so principal loss matches the negative return of the worst underlier and can reach 100%. GS Finance Corp. may redeem the notes at par plus any coupon on any coupon payment date from July 2027 through June 2029. Investors face the credit risk of both GS Finance Corp. and The Goldman Sachs Group, Inc., no listing, and potentially little or no secondary market or coupons.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering $5,533,260 of unsecured Capped Buffer GEARS linked to an unequally weighted basket of five equity indices, maturing in 2031. The basket starts at level 100 and includes the EURO STOXX 50® (40%), Nikkei 225 (25%), FTSE® 100 (17.5%), Swiss Market Index (10%) and S&P/ASX 200 (7.5%).

At maturity, if the final basket level is above 100 but below the cap level, holders receive $10 plus 2.00x the basket gain, capped at a maximum settlement of $17.95 per $10 face amount (a 79.50% maximum return). If the final basket level is between 80% and 100% of the initial level, investors receive the $10 face amount. Below the 80% downside threshold, losses resume on a 1:1 basis beyond the 20% buffer, with up to 80% loss if the basket falls to zero.

The notes pay no interest, have a minimum denomination of $10, an expected trade date of July 21, 2026 and stated maturity of July 25, 2031. The estimated value is approximately $9.53 per $10 face amount, and all 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 unsecured structured notes linked equally to the stocks of Meta Platforms, NVIDIA, Amazon.com and Apple. The notes are expected to trade on the July 29, 2026 trade date, be issued on July 31, 2026, and mature on August 1, 2031, unless automatically called earlier.

On each monthly coupon observation date, if the closing price of each index stock is at least 75% of its initial price, holders receive a maximum coupon of $7.5 per $1,000 face amount (0.75% monthly, up to 9% per annum). If any stock is below 75% of its initial price, holders receive only the minimum coupon of $0.209 per $1,000 (0.0209% monthly, up to about 0.25% per annum). Principal of $1,000 per $1,000 face amount is repaid at maturity, plus the final coupon.

Starting in July 2027, the notes are automatically called in whole if on any call observation date the closing price of each stock is at least its initial price; in that case, investors receive face amount plus the applicable coupon. The estimated value at pricing is expected to be $885–$925 per $1,000 face amount, reflecting model-based pricing and fees. Payments depend on the performance of the reference stocks and the credit of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Index-Linked Notes due 2031 under its Medium-Term Notes, Series F program. Each note has a $1,000 face amount and pays no periodic interest.

The notes are linked to the Dow Jones Industrial Average, Nasdaq-100 Index and S&P 500 Index. On July 29, 2027, if each index is at or above its initial level, the notes are automatically called and investors receive $1,117.50 per $1,000 on August 3, 2027. If not called, at maturity on August 1, 2031 investors receive $1,000 plus 100% of the lesser-performing index’s positive return; if any index is flat or down, only the $1,000 principal is repaid.

Key risks include issuer and guarantor credit risk, no interest income, a secondary market that may be limited, initial estimated value below issue price, and complex contingent payment debt instrument tax treatment requiring accrual of ordinary income over the term.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to an equally weighted basket of 8 large-cap energy and infrastructure stocks, each with a 12.5% weight and initial weighted value of 12.5, giving an initial basket level of 100. The notes are issued at 100% of face value with a 1% underwriting discount and an initial aggregate face amount of $500,000, maturing on August 6, 2027, unless automatically called.

On quarterly observation dates from November 3, 2026 through August 3, 2027, the notes are automatically called if the basket is at or above its initial level, returning par plus a step-up coupon. A conditional coupon accrues at $25.4 per $1,000 per observation date, but is paid only when the basket is at or above 75% of its initial level; otherwise the coupon is zero and may be zero for the entire term. At maturity, if not called, principal is protected only down to a 25% basket decline; below that buffer, repayment is reduced using a buffer rate of approximately 133.33%, and investors can lose up to all of their investment.

The notes carry the unsecured credit risk of GS Finance Corp. and its guarantor. The estimated value at pricing is $956 per $1,000 face amount, below the issue price, reflecting dealer compensation, structuring costs and model valuation. Secondary-market values will depend on basket performance, volatility, interest rates and the issuer’s credit spreads, and there may be limited or no liquidity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering callable 10-year notes whose quarterly interest is linked to the 10-year Constant Maturity Treasury (CMT) rate. Each note has a $1,000 face amount and is expected to be issued on July 28, 2026, maturing on July 28, 2033.

On each quarterly interest payment date, the annualized interest rate equals the 7.90% interest factor multiplied by the fraction of scheduled U.S. government securities business days in the prior interest period when the 10‑year CMT rate is at or below 5.25%. If the rate is above 5.25% on every reference date in a period, no interest is paid for that quarter. Interest uses the 30/360 (ISDA) day-count convention.

The notes are callable at the issuer’s option at 100% of face amount plus accrued interest on any quarterly interest payment date on or after July 28, 2031. Payments are unsecured and subject to the credit risk of GS Finance Corp. and the guarantor. The estimated value on the trade date is expected to be $929.8–$979.8 per $1,000 face amount, below the issue price, reflecting fees, hedging costs and the issuer’s pricing models. The notes are not listed, and secondary market liquidity and pricing are uncertain.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium-term, principal-at-risk notes linked to the S&P 500 Index, maturing on November 26, 2027. Each security has a $1,000 face amount and pays no interest or dividends.

At maturity, investors receive: the face amount plus 100% of any index increase, capped at an 11.40% maximum return (maximum payment $1,114 per security); the face amount if the index declines by up to the 15% buffer; or a reduced amount with 1‑to‑1 downside beyond the buffer, with the potential to lose up to 85% of principal. The starting level is 7,509.20 and the threshold level is 85% of that value.

The estimated value at pricing is approximately $968 per $1,000 face amount, below the original offering price, reflecting underwriting discounts of 2.325% and structuring costs. Total offering size is $2,374,000, with proceeds to the issuer of $2,318,804.50. Payments depend on the credit of GS Finance Corp. and its parent guarantor, and there is no exchange listing, so liquidity may be limited.