GOLDMAN SACHS S&P ENHNCD 424B Filings

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. The notes pay no interest and are issued at 100% of face amount with an initial aggregate face amount of $4,712,000 in $1,000 denominations.

The notes may be automatically called quarterly starting April 2027 if the index closing level is at least 85% of the initial level of 495.82, paying $1,000 plus a fixed call premium (rising over time). If not called, at maturity in July 2032 you receive: the maximum settlement amount of $2,140.048 per $1,000 if the final index level is at least 85% of the initial level; full principal back if the final level is between 60% and 85%; and a 1:1 loss below 60%, up to total loss of principal.

The underlying index targets 40% volatility using up to 500% leverage, applies a 6.0% per annum daily decrement, can be significantly uninvested, and is based on E‑mini S&P 500 futures, which are expected to lag the S&P 500® total return. The notes carry issuer and guarantor credit risk, and the estimated value on the trade date is about $961 per $1,000, below the issue price.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering unsecured notes called Capped Buffer GEARS linked to the S&P 500® Index. Each security has a $10 face amount, 1.50x leveraged exposure to any positive S&P 500® return, and pays at maturity only.

At maturity, investors receive up to a maximum settlement amount between $15.10 and $15.30 per $10, corresponding to a maximum return between 51.00% and 53.00%. Principal is protected only contingently: if the final index level is at or above 80.00% of the initial level (a 20.00% buffer), investors receive at least the $10 face amount. If the S&P 500® falls below the 80.00% downside threshold, losses match index declines beyond the buffer, up to an 80.00% loss if the index ends at zero.

The notes pay no interest and do not provide dividends on index stocks. All payments depend on the creditworthiness of GS Finance Corp. and the guarantor. The estimated initial value is between $8.85 and $9.25 per $10, below the issue price, reflecting fees and structuring costs. The expected trade date is July 21, 2026, with maturity expected July 24, 2031, and a $1,000 minimum purchase.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER-linked callable notes with an aggregate face amount of $3,485,000, issued at 100% of face value.

The notes pay no interest, are automatically callable quarterly from January 2027 if the index is at least 95% of the initial level of 495.82, and then return $1,000 plus a call premium (starting at 12.75% and rising over time) per $1,000. If not called, they mature on July 22, 2032 with a capped maximum payment of $2,530 per $1,000 if the final index level is at least 95% of the initial level, principal protection down to a 40% decline, and full downside exposure below that trigger so investors can lose their entire investment.

The underlier is a highly complex, leveraged futures-based index targeting 40% volatility, with leverage up to 500% and a daily decrement of 6.0% per annum, which systematically drags performance and magnifies losses. The estimated value at pricing is approximately $956 per $1,000 face amount, below the issue price, and secondary market values will reflect issuer credit risk, model valuations and limited liquidity.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering auto-callable notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes pay no interest and return principal at maturity unless called earlier. Beginning in August 2027, the notes are automatically called if the index level on a call observation date is at least 101% of the initial index level, paying $1,000 plus a fixed call return that rises from 9.5% to 57% over six annual call dates.

If not called, at the expected August 9, 2033 maturity investors receive for each $1,000 face amount either $1,665 (a 66.5% maturity return) if the final index level is at least 101% of the initial level, or $1,000 otherwise. The index uses daily rebalancing, 5% volatility control, and a momentum risk control, and is calculated on an excess return basis over the federal funds rate with an additional 0.65% per annum fee, meaning significant allocations to cash and fees can materially dampen performance. The estimated value at pricing is between $885 and $935 per $1,000, and payments are subject to the unsecured credit risk of GS Finance Corp. and the guarantor.

GS Finance Corp is offering Buffered Russell 2000® Index-Linked Notes due July 26, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest; the maturity payment depends on the Russell 2000® Index level on a single determination date near maturity.

For each $1,000 face amount, investors receive: par plus 87% of any positive index return; par if the index has fallen by up to 20%; or par reduced on a 1:1 basis for index losses beyond 20%, so principal losses can reach 80% in extreme declines. The initial index level is 2,942.429, and the buffer level is 80% of that. The estimated value at pricing is expected between $925 and $955 per $1,000, below issue price, and secondary market prices may be lower. Payments are unsecured and subject to the credit risk of both GS Finance Corp and The Goldman Sachs Group, Inc., and the notes are expected to be treated as a pre-paid derivative contract for U.S. federal income tax purposes, though tax outcomes are described as uncertain.

GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering Autocallable Contingent Coupon Equity‑Linked Notes due 2027 linked to the common stock of Vistra Corp. The notes pay a contingent quarterly coupon only if the stock closes at or above a coupon trigger level of 65% of the initial level on each observation date and may be automatically called if the stock is at or above its initial level on specified call observation dates.

If not called, at maturity investors receive $1,000 per note only if the final stock level is at or above a buffer level of 65% of the initial level; below that, repayment is reduced by a leveraged downside formula using a buffer amount of 35% and a buffer rate of approximately 153.85%, and investors can lose their entire principal. The maximum cash settlement is 100% of face amount, so upside in the stock is not passed through beyond par.

The notes are issued at 100% of face amount with a 1% underwriting discount, are unsecured obligations subject to the credit risk of GS Finance Corp. and its guarantor, do not provide dividends or shareholder rights in Vistra, will not be listed on an exchange, and may have limited or no secondary market, with an estimated value at pricing that is less than the original issue price. U.S. tax treatment is uncertain; counsel views the notes as income‑bearing prepaid derivative contracts, with coupons likely taxed as ordinary income.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-protected structured notes linked to the common stocks of NVIDIA, Oracle and Western Digital. The notes have a face amount of $1,000 per note, an expected trade date of July 24, 2026, an expected original issue date of July 29, 2026 and an expected stated maturity of July 27, 2029. Monthly coupons of $20 per $1,000 (i.e., 2% monthly, up to 24% per annum) are payable only when each index stock’s closing price on a coupon observation date is at least 50% of its initial price. The notes are subject to automatic redemption if, on a call observation date, each index stock is at or above its initial price; otherwise maturity pay‑out depends on whether a trigger event occurs and, if so, on the worst-performing index stock. The notes are unsecured obligations subject to issuer and guarantor credit risk. The dealer-estimated value at pricing is between $925 and $965 per $1,000 face amount.

GS Finance Corp. offers indexed, auto-callable notes linked to the common stock of Broadcom, Marvell and Cisco with expected trade date July 24, 2026 and stated maturity expected to be July 27, 2029. Each note has a $1,000 face denomination and monthly coupon mechanics of $18 per $1,000 (1.8% monthly, potential up to 21.6% annually) payable only when each index stock meets a 50% trigger threshold on observation dates. Notes may be automatically called beginning in July 2027 if each index stock closes at or above its initial price; at maturity payment depends on whether a trigger event occurs and, if so, on the lesser performing index stock return. The estimated value on the trade date is between $925 and $965 per $1,000 face amount.

GS Finance Corp. priced a preliminary pricing supplement for Jump Securities with an auto-callable feature due July 22, 2032, linked to the worst-performing of XLE, XLV and XBI. The securities are unsecured notes of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and are principal-at-risk. The pricing supplement is subject to completion and sets call observation mechanics, a call threshold at 90.00% of initial ETF prices, an estimated value range of $870 to $930, an underwriting discount of 3.50%, and a stated denomination of $1,000 per security.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering leveraged, callable notes linked to the S&P 500® Futures Excess Return Index. The notes have a $1,000 face amount per note, expected trade date July 31, 2026 and stated maturity expected to be August 5, 2031. At maturity holders receive $1,000 if the final underlier level is equal to or below the initial underlier level; if the final level is greater, the payoff equals $1,000 plus 1.5× the underlier return on each $1,000 face amount. The issuer may redeem the notes on monthly call payment dates beginning August 5, 2027; each call payment date has a specified capped call premium amount. The estimated value at pricing is expected to be between $885 and $935 per $1,000 face amount. The notes are unsecured obligations of GS Finance Corp. and subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering Autocallable Goldman Sachs Momentum Builder® Focus ER Index‑Linked Notes due July 22, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, feature an annual automatic call if the index closes at or above 101.25% of the initial index level, and participate 100% in upside at maturity if not called. GS&Co. estimates the trade‑date value at $850 to $890 per $1,000 face amount. The index applies a 0.65% per annum deduction (accruing daily) and daily volatility and momentum controls that can allocate substantial exposure to hypothetical cash positions. Tax treatment: the notes are treated as contingent payment debt instruments for U.S. federal income tax purposes.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured notes linked to UnitedHealth (UNH), UPS (UPS), and Verizon (VZ). The notes mature on the stated maturity date (expected August 2, 2029) and pay a monthly contingent coupon of $9.709 per $1,000 face amount if each index stock closes at or above 50% of its initial price on observation dates. At maturity the cash settlement amount per $1,000 is based solely on the performance of the lesser performing index stock versus its initial price (initial prices to be set on July 28, 2026); if that final price is below 50% of its initial price, principal is reduced proportionately. The estimated value at pricing is stated as between $925 and $965 per $1,000 face amount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable, equity‑linked medium‑term notes tied to the Class A common stock of Alphabet Inc. Each note has a $1,000 face amount, pays a fixed coupon of $9.75 monthly (0.975% per month, ~11.7% per annum) and is expected to trade on a July 21, 2026 trade date with an original issue date of July 24, 2026. Notes may be automatically called monthly if the index stock closing price on a call observation date is at least the initial index stock price; otherwise the cash settlement at the expected maturity on August 26, 2027 depends on the index stock return versus a trigger buffer price equal to 68% of the initial index stock price (a -32% return). The estimated value at pricing is stated as $925–$955 per $1,000 face amount. The notes are unsecured obligations subject to issuer and guarantor credit risk and limited anti‑dilution protections.

GS Finance Corp. priced autocallable contingent coupon index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the Nasdaq-100, Russell 2000 and S&P 500 and pay a contingent monthly coupon of $7.292 per $1,000 if each underlier meets a 75% coupon trigger on observation dates. The notes are automatically called if, on any quarterly call observation date, each underlier closes at or above its initial level; otherwise the maturity cash payment is based solely on the lesser performing underlier and can result in a full loss of principal. Trade date is July 17, 2026 and stated maturity is July 22, 2031.

GS Finance Corp. is offering autocallable, EURO STOXX 50® index-linked notes due 2029, fully guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have an upside participation rate of 150% and a trigger buffer level of 75%. If the closing level of the underlier on the call observation date is greater than or equal to the initial level, the notes will be automatically called and pay $1,150 per $1,000 face amount on the call payment date. Trade date is July 31, 2026, original issue date is August 5, 2026, determination date is July 31, 2029 and stated maturity date is August 3, 2029. If not called, maturity pay depends on final underlier level: full principal if final level ≥ 75% of initial; otherwise payoff equals $1,000 × (1 + underlier return), potentially resulting in a total loss of principal.

GS Finance Corp. is offering ETF-linked notes due October 28, 2027 that pay no interest and whose cash settlement at maturity is based on the performance of the lesser performing of two ETFs: XLP and XLU.

For each $1,000 face amount, holders receive $1,116 if both ETFs finish at or above 80% of their initial levels; otherwise the maturity payment equals $1,000 plus $1,000 times the lesser performing ETF return, which can result in a principal loss. The estimated value at pricing is $925–$965 per $1,000 face amount.

GS Finance Corp. is offering leveraged, buffered, Russell 2000® Index-linked notes due August 26, 2027, guaranteed by The Goldman Sachs Group, Inc.. For each $1,000 face amount the cash payment at maturity depends on the Russell 2000® performance from the trade date to the determination date: a positive return is multiplied by an upside participation rate of 110% but capped at a $1,212.50 maximum settlement amount; returns down to the 90% buffer level return principal; declines greater than the 10% buffer produce proportional losses (you lose 1% of face per 1% the index is below the buffer).

The notes pay no interest, are part of the Medium-Term Notes, Series F program, have trade date July 22, 2026 and original issue date July 27, 2026, and rely on GS Finance Corp. and The Goldman Sachs Group, Inc. credit. The pricing supplement warns the original issue price exceeds the notes' estimated model value and that market liquidity, secondary pricing and tax treatment are uncertain.

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due July 15, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of Advanced Micro Devices, Inc., Class C capital stock of Alphabet Inc. and common stock of NVIDIA Corporation. They pay a contingent monthly coupon of $9.292 per $1,000 (0.9292% monthly, potential for up to approximately 11.15% per annum) when each underlier is at or above a coupon trigger of 75% of its initial level on the coupon observation date.

The notes will be automatically called if, on any call observation date, each underlier’s closing level is greater than or equal to its initial underlier level; in that event the issuer will pay $1,000 per $1,000 face amount plus any coupon then due. Trade date is July 10, 2026, original issue date is July 15, 2026, and the stated maturity is July 15, 2031. GS&Co.’s estimated value on the trade date is $885 to $925 per $1,000 face amount (less than the issue price). Terms will be set on the trade date and are subject to the conditions and risks described herein.

GS Finance Corp. is offering autocallable contingent coupon index-linked notes due July 15, 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays a contingent monthly coupon of $9.792 per $1,000 (0.9792% monthly, ~11.75% per annum) if each underlier meets its coupon trigger level on observation dates.

Coupons and automatic calls are tied to three underliers: the Nasdaq-100, Russell 2000 and S&P 500. Coupons require each underlier to be at least 70% of its initial level on observation dates; automatic calls occur if each underlier is at or above its initial level on a call observation date. If not called, the maturity cash settlement depends solely on the lesser performing underlier using a 60% trigger buffer level and may result in total loss of principal.

GS Finance Corp. is offering leveraged buffered notes linked to the Nasdaq-100 Index with a three-year term maturing in August 3, 2029 (determination date July 31, 2029). Each note has a $1,000 face amount reference used to calculate cash settlement at maturity.

Key economic terms: an upside participation rate of 115% subject to a maximum settlement amount of $1,440 per $1,000 face amount; a buffer level of 85% (buffer amount 15% and buffer rate 100%) that protects the face amount only for declines up to 15%; no periodic interest. Investors bear issuer and guarantor credit risk and may lose a substantial portion of principal if the final index level falls below the buffer.

GS Finance Corp. priced leveraged buffered S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest. At maturity the cash payment depends on S&P 500 performance from the trade date to the determination date, with a 10% downside buffer, 110% upside participation and a $1,150 maximum settlement amount. Trade date is July 22, 2026, original issue date July 27, 2026 and stated maturity date August 26, 2027. The notes are sold at issue price with an underwriting discount; the estimated model value is lower than the original issue price.

GS Finance Corp. is offering $10 face-amount trigger autocallable contingent yield notes guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons (set on the trade date) only if both the Russell 2000® and S&P 500® close at or above a 70% coupon barrier on each observation date. The notes may be automatically called beginning January 2027 if both indices close at or above their initial levels on a call observation date, in which case holders receive the face amount plus that quarter's contingent coupon. If not called, repayment at maturity (expected July 12, 2029) depends on the lesser performing index: if that index is below its 70% downside threshold, holders receive less than face amount—potentially losing most or all principal. Trade date and pricing terms are expected to be set on July 9, 2026 (original issue date July 13, 2026), with contingent coupon per $10 between $0.1925 and $0.205 per quarter (up to ~7.70%–8.20% per annum). The estimated value at pricing is between $8.90 and $9.20 per $10 face amount; original issue price is 100.00% of face amount, with a 2.00% underwriting discount (net proceeds 98.00%).

GS Finance Corp. is offering Autocallable Contingent Coupon Equity-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes reference the common stock of NVIDIA Corporation and pay a monthly contingent coupon of $10.25 per $1,000 when the underlier meets a 61% coupon trigger. The notes may be automatically called if the underlier closes at or above the initial level on any call observation date. Trade date is July 21, 2026, original issue date July 24, 2026, and stated maturity is August 26, 2027.

The cash settlement at maturity is either $1,000 if the final underlier level is at or above the 61% trigger buffer, or $1,000 × (1 + underlier return) if below, which can result in a complete loss of principal if the final level is sufficiently low. Pricing, underwriting discounts, and estimated values are set on the trade date.

GS Finance Corp. is offering leveraged buffered S&P 500® index‑linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. Each $1,000 face amount at maturity will pay a cash amount tied to the S&P 500's performance from the trade date to the determination date.

The notes carry a 200% upside participation rate subject to a maximum settlement amount of at least $1,210 per $1,000. They provide a 15% buffer (buffer level = 85%) protecting against losses up to that decline; declines beyond the buffer produce proportional losses. The notes pay no interest, are issued around July 20, 2026, and mature in July 2028. Secondary market liquidity and tax treatment are uncertain; investors remain exposed to issuer/guarantor credit risk.

GS Finance Corp. is offering Leveraged Buffered S&P 500® Index-Linked Notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the S&P 500 performance from the trade date July 31, 2026 to the determination date July 31, 2029. For each $1,000 face amount, upside is participation at 115% of the index gain subject to a $1,350 maximum settlement. A 15% buffer protects against losses up to that decline; declines beyond 85% of the initial level result in pro rata principal loss. The notes are callable only by cash settlement at maturity and are exposed to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. is offering indexed, non‑interest paying notes linked to a weighted basket of four underliers: the Nasdaq‑100, Russell 2000, S&P 500 Futures Excess Return Index and the iShares MSCI EAFE ETF. For each $1,000 face amount, the cash payment at maturity on July 10, 2031 depends on a weighted return calculated from the trade date July 6, 2026 to the determination date July 7, 2031. Positive weighted returns pay the weighted return up to a $1,500 maximum; weighted returns between 0% and -20% pay $1,000; returns below -20% reduce principal (payment = $1,000 × (weighted return + 20%)). The offering’s aggregate face amount on the original issue date is $253,000, original issue price 100% of face amount, underwriting discount 4.125%, and the estimated value at pricing was approximately $922 per $1,000. Payments are subject to issuer and guarantor credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers $autocallable Goldman Sachs Momentum Builder® Focus ER Index-Linked Notes due 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, have a 100% upside participation rate, and are callable annually beginning on the first call observation date. The trade date is July 16, 2026, original issue date July 21, 2026, and stated maturity is July 22, 2033. GS&Co. estimates the notes' value on the trade date at $850 to $880 per $1,000 face amount. The index used applies a 0.65% per annum deduction (accruing daily) and may allocate substantial exposure to hypothetical cash positions via a 5% realized volatility control and a momentum risk control feature. If a call observation date meets the applicable call level, holders receive face plus a capped call premium (examples: first-year call level 100.60% for a 10.00% premium; sixth-year call level 103.60% for a 60.00% premium). At maturity, if not called and the final index level is at or below the initial level, holders receive the face amount only.

GS Finance Corp. is offering autocallable equity-linked notes due 2030, guaranteed by The Goldman Sachs Group, Inc. The notes reference Apple, Amazon and Tesla common stock and feature an automatic call on the call observation date if each underlier’s closing level is greater than or equal to its initial level, in which case each $1,000 face amount pays $1,300 on the call payment date. If not called, maturity cash depends solely on the lesser performing underlier, with an upside participation rate of 400% and a per-underlier buffer level of 75% (buffer amount 25%, buffer rate 100%). Trade date is July 31, 2026, original issue date August 7, 2026, stated maturity August 7, 2030, and call observation/payment dates are shown in the supplement. The notes do not bear interest, are cash-settled, and carry issuer and guarantor credit risk.

GS Finance Corp. offers index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return at maturity is tied to the lesser performing of the Russell 2000® and S&P 500® indices measured from the expected trade date of July 31, 2026 to the expected determination date of July 31, 2028. For each $1,000 face amount, the notes provide an upside participation rate of 100% capped at a maximum settlement amount of $1,207.5 and a minimum settlement amount of $950. Estimated value at pricing is expected to be between $925 and $965 per $1,000 face amount; purchasers bear issuer and guarantor credit risk and tax treatment follows contingent payment debt rules.

GS Finance Corp. offers term notes linked to three stocks with a Goldman Sachs guarantee. The notes have a $1,000 face amount per note, an expected trade date of July 24, 2026, an expected original issue date of July 29, 2026, and a stated maturity date of July 27, 2029. Coupons are payable monthly only if each index stock meets a 50% threshold on coupon observation dates; an automatic call may occur on specified observation dates commencing in July 2027.

The coupon formula references $17.709 per $1,000 face amount (1.7709% monthly, ~21.25% per annum potential) accrued to date and paid only when all index stocks meet the coupon trigger price (50% of initial index stock price). If a trigger event occurs at maturity (all final index stock prices below initial prices) the cash settlement will be based on the lesser performing index stock and may result in substantial principal loss. The estimated model value on the trade date is between $925 and $965 per $1,000 face amount.

GS Finance Corp. is offering autocallable S&P 500® Index-linked notes due 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and will be automatically called on the call observation date if the underlier closes at or above the initial level, in which case holders receive $1,152.50 per $1,000 face amount on the call payment date. If not called, payment at maturity depends on the S&P 500 closing level on the determination date with a 20% buffer (buffer level = 80% of initial level) and full upside participation at 100%. The notes do not bear interest, expose investors to issuer and guarantor credit risk, may trade at prices below issue, and could result in a substantial loss of principal if the final underlier level is below the buffer.

GS Finance Corp. is offering leveraged, buffered EURO STOXX 50® index-linked notes due July 15, 2031 that are fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and pays no interest; the cash payment at maturity depends on the EURO STOXX 50® performance from the trade date to the determination date.

Key economic terms shown include an upside participation rate of 178%, a buffer level of 80% (20% buffer amount) and a buffer rate of 100%. If the final index level exceeds the initial level, investors receive $1,000 plus participation in upside. If the final level is between the initial level and the buffer level, investors receive the $1,000 face amount. If the final level is below the buffer level, investors incur losses pro rata and could lose a substantial portion of principal. The notes are structured, not interest-bearing, subject to issuer and guarantor credit risk, and may have limited secondary-market liquidity.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering medium‑term, non‑interest bearing structured notes priced July 6, 2026 that mature on July 10, 2031. The cash payoff at maturity is linked to the S&P 500® Futures Excess Return Index and depends on the underlier return versus an initial level of 604.17.

If the final underlier level is at or above the initial level, holders receive the face amount plus 186% upside participation of the underlier gain. If the final level is below the initial level but not below the buffer level (80% of initial), holders receive the face amount plus the absolute value of the underlier decline. If the final level is below the buffer level, holders suffer a loss tied to the extent of the decline and could lose a substantial portion of principal. The notes were issued at 100% of face with a 1.125% underwriting discount and aggregate face amount shown as $487,000.

GS Finance Corp. priced market‑linked, auto‑callable notes linked to Applied Optoelectronics, Inc. (AAOI). Each note has a $1,000 face amount, pays a fixed quarterly coupon of $51.75 (20.70% per annum) and matures July 9, 2029, subject to automatic redemption on quarterly call dates beginning October 2026.

If a call occurs, holders receive face amount plus final coupon. If not called, maturity payment depends on the ending stock closing price vs. a downside threshold equal to 50% of the starting price. The starting price is $123.36; the downside threshold equals 50% of that level. Estimated value at pricing was approximately $939 per $1,000 face amount. Payments are unsecured and subject to issuer and guarantor credit risk; securities have no listing and are designed to be held to maturity.

GS Finance Corp. is offering Goldman Sachs Momentum Builder® Focus ER Index-Linked Notes due July 25, 2031, guaranteed by The Goldman Sachs Group, Inc.. Each note has a $1,000 face amount and a cash payment at maturity tied to the performance of the GSMBFC5 Index from the trade date (July 22, 2026) to the determination date (July 22, 2031). If the final index level exceeds the initial level, holders receive $1,000 + $1,000 × 740% × index return; otherwise, holders receive the face amount. The index uses daily rebalancing, a 5% realized volatility control, momentum risk controls and a deduction of 0.65% per annum (accruing daily); allocations to hypothetical cash positions may materially reduce index performance. These notes do not pay interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering callable contingent coupon underlier-linked notes due July 26, 2029, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $10 per $1,000 (a 1% monthly coupon) only if each underlier meets a coupon trigger level equal to 60% of its initial level on the related observation date.

Payoff at maturity (if not earlier redeemed) depends solely on the performance of the lesser performing underlier on the determination date: if that underlier is below its trigger buffer level (also 60% of initial), the cash settlement equals $1,000 plus $1,000×(lesser performing underlier return), exposing holders to potentially a total loss of principal. The issuer may redeem the notes on each coupon payment date commencing July 2027 through June 2029.

GS Finance Corp. is offering Autocallable Contingent Coupon Index‑Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $6.667 per $1,000 (0.6667% monthly, ~8.00% per annum potential) when each underlier is at or above a 70% coupon trigger level. The notes are linked to the Dow Jones Industrial Average, the Nasdaq‑100 and the Russell 2000. If not called, maturity cash settlement for each $1,000 depends on the lesser performing underlier’s return, subject to a 70% trigger buffer level; a final underlier level below that buffer can produce substantial principal loss, up to a complete loss of principal.

GS Finance Corp. offers indexed, automatically callable notes (guaranteed by The Goldman Sachs Group, Inc.). The pricing supplement describes notes with an aggregate face amount of $3,938,000, a $1,000 face amount per note, an upside participation rate of 100% and a series of annual automatic call observation dates beginning July 6, 2027. Payments depend on the performance of the Goldman Sachs Momentum Builder® Focus ER Index (GSMBFC5 Index), which applies volatility and momentum controls and a 0.65% per annum deduction. The supplement discloses an estimated value of $897 per $1,000 face amount on the trade date and an underwriting discount of 4.375%. Tax treatment: the notes will be treated as contingent payment debt instruments for U.S. federal income tax purposes.

GS Finance Corp. offers capped monthly-coupon, automatically callable medium-term notes tied to five large-cap stocks. The prospectus supplement describes notes with an aggregate face amount of $500,000 (subject to increase), a stated maturity of July 11, 2029, and automatic call opportunities commencing January 2027. Coupons of $8.292 per $1,000 (0.8292% monthly, ~9.95% p.a. maximum) are payable on each coupon payment date only if the closing price of each index stock is at least 70% of its initial price; otherwise the coupon is $0. The notes are unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and have an estimated value at pricing of approximately $967 per $1,000 (original issue price = 100%).

GS Finance Corp. is offering $1,000 face‑amount autocallable underlier‑linked notes due July 31, 2031, guaranteed by The Goldman Sachs Group, Inc.. Payments are cash‑settled and depend on the performance of three underliers: the Russell 2000, the EURO STOXX 50 and the State Street Utilities Select Sector SPDR ETF (XLU). The notes bear no interest and include quarterly automatic call opportunities beginning July 28, 2027; each automatic call pays principal plus a specified call premium. If the notes are not called, the maturity payment is based solely on the lesser performing underlier with a trigger buffer at 70% and a capped maturity premium of 77.75%. Investors may lose up to their entire investment if the lesser performing underlier falls below its trigger buffer, and secondary market liquidity and valuations may be limited.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering auto-callable, non-interest-bearing notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. Trade date is expected to be July 17, 2026, original issue date expected July 22, 2026, and stated maturity expected July 22, 2032. Notes may be automatically called on specified observation dates beginning in April 2027 if the underlier is ≥85% of the initial level; the maximum settlement at maturity for each $1,000 face amount is $2,140.048. The underlier applies a 6.0% per annum daily decrement and may use leverage up to 500%, increasing downside risk; estimated value at pricing is between $885 and $925 per $1,000 face amount.

GS Finance Corp. priced callable S&P 500® index-linked notes due July 10, 2031 with an aggregate original face amount of $2,932,000. The notes pay no interest, have an initial underlier level of 7,537.43 (trade date July 6, 2026) and mature on the stated maturity date unless redeemed.

At maturity each $1,000 face amount pays either: (i) $1,000 plus 2× the index return if the final level is above the initial level; (ii) $1,000 if the final level is between 75% and 100% of the initial level; or (iii) a reduced cash amount calculated using a buffer rate of approximately 133.33% if the final level is below 75% (you could lose your entire investment). The issuer may redeem the notes on specified monthly call payment dates beginning in July 2027. The estimated value on the trade date was approximately $981 per $1,000 face amount.

GS Finance Corp. is offering autocallable underlier-linked notes due 2031 guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, may be automatically called on quarterly observation dates and settle in cash at maturity based on the performance of the lesser performing underlier.

The notes reference the Russell 2000 Index, the EURO STOXX 50 Index and the State Street Utilities Select Sector SPDR ETF (XLU). Key features include a trigger buffer level of 60%, a maturity date premium amount of 70.50% and a $1,000 face amount illustration used throughout the supplement. Purchasers bear issuer and guarantor credit risk and may lose their entire investment if the lesser performing underlier falls below the trigger buffer level.

GS Finance Corp. offers $9,919,000 of autocallable, cash‑settled notes guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $6.875 per $1,000 (0.6875% monthly, up to 8.25% per annum) when each underlier meets a 70% coupon trigger on observation dates and are subject to automatic call if both underliers close at or above their initial levels on a call observation date. If not called, the maturity payment for each $1,000 face amount depends on the lesser performing underlier on the determination date; losses can equal the full principal if that underlier finishes below its 70% trigger buffer. Trade date is July 6, 2026, original issue date July 9, 2026, and stated maturity date January 11, 2029.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering leveraged buffered notes linked to the EURO STOXX 50® Index. Each $1,000 note provides upside participation of 154.25% if the final index level exceeds the initial level, a 15% buffer (buffer level = 85% of initial) that preserves principal only if losses do not exceed the buffer, and a maturity cash settlement on July 26, 2029. The notes pay no interest and can result in a substantial loss of principal if the index declines more than the buffer. The trade date is July 21, 2026 with original issue date July 24, 2026. Payment depends on the final underlier level on the determination date and is subject to the issuer's and guarantor's credit risk.

GS Finance Corp. is offering leveraged S&P 500® Futures Excess Return Index-Linked Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and does not bear interest. On the stated maturity date the cash payment per $1,000 will equal $1,000 plus $1,000 × the 117.3% upside participation rate × the underlier return if the final underlier level is greater than the initial level; otherwise you will receive the face amount. The underlier is the S&P 500® Futures Excess Return Index, which tracks E-mini S&P 500 futures rather than the S&P 500® Index. Trade date is July 17, 2026, original issue date is July 22, 2026, and stated maturity date is July 22, 2031.

Key risks highlighted include credit exposure to the issuer and guarantor, potential negative roll yields and contango in futures that can reduce the underlier level over time, limited secondary market liquidity, and special U.S. federal tax treatment as a contingent payment debt instrument.

GS Finance Corp. offers autocallable contingent coupon notes linked to the MSCI Emerging Markets Index, guaranteed by The Goldman Sachs Group, Inc. The notes have an expected trade date of July 8, 2026 and an expected stated maturity of July 13, 2027. Coupons accrue at $27 per $1,000 (a 2.7% quarterly rate, up to 10.8% per annum) and are paid on coupon payment dates only if the index closing level on the related coupon observation date is at or above 70% of the initial index level. The notes are automatically called if the index on a call observation date equals or exceeds the initial index level; called notes pay the face amount plus any coupon then due. At maturity, amounts payable depend on the index return versus a 20% buffer (buffer level = 80% of initial). The pricing supplement states the notes' estimated value on the trade date is between $925 and $955 per $1,000 face amount and warns of issuer and guarantor credit risk and potential loss of principal.

GS Finance Corp. is offering a reopening of notes with an aggregate face amount of $135,000 that are fully guaranteed by The Goldman Sachs Group, Inc. The reopened notes share terms and CUSIP with an earlier $52,521,000 original tranche. The notes are automatically callable on annual observation dates if the index closes at or above 101% of the initial index level and pay a capped call premium (first-year call premium: 9.25%). If not called, maturity is June 30, 2033 with the final index determination date of June 23, 2033. The notes link to the Goldman Sachs Momentum Builder® Focus ER Index (GSMBFC5), which applies a 0.65% per annum deduction and employs daily rebalancing, a 5% realized volatility control and a momentum risk control that can shift exposure to hypothetical cash positions. The issuer estimated the reopened notes' value at $897 per $1,000 face on July 8, 2026; an additional upfront amount of $61.063 per $1,000 on the original trade date declines to zero on September 24, 2026. Payments are cash-settled and subject to the issuer's and guarantor's credit risk.

GS Finance Corp. offers callable 10‑Year CMT Rate‑Linked Range Accrual Notes due 2036, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly interest only to the extent the 10‑year CMT rate is ≤ 5.00% on reference dates; the interest factor is 10.30%. Interest payments are quarterly, expected to commence on October 14, 2026, and the stated maturity is expected to be July 14, 2036. The issuer may redeem the notes in whole on any quarterly interest payment date on or after July 14, 2027 at 100% of face amount plus accrued interest. The estimated value at trade date is stated as $917–$957 per $1,000 face amount.