GOLDMAN SACHS S&P ENHNCD 424B Filings

GS Finance Corp. is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER, with an expected trade date of July 8, 2026 and a stated maturity date expected to be July 11, 2031. The notes pay monthly conditional coupons computed from a $11.667 monthly increment (1.1667% monthly) when the index closes at or above 62.5% of the initial underlier level on observation dates, and feature an automatic-call from July 2027 through June 2031 if the index closes at or above the initial underlier level on a call observation date. The underlier applies a daily 6.0% per annum decrement, targets 40% volatility through leverage up to 500%, and caps daily leverage changes at 100%. The prospectus discloses an estimated value range of $885 to $925 per $1,000 face amount on the trade date.

The issuer GS Finance Corp. is offering principal-protected contingent coupon notes linked to three ETFs: iShares Expanded Tech-Software, State Street Energy Select Sector, and VanEck Gold Miners. The notes have a $1,000 face amount per note, an expected trade date of July 17, 2026, and an expected stated maturity of July 24, 2029. Monthly coupon mechanics pay $13.334 per $1,000 (1.3334% monthly, potential ~16% per annum) only when each ETF’s closing level on an observation date is ≥ 60% of its initial level; otherwise the coupon for that payment is $0. The notes are subject to automatic early redemption if, on any call observation date, each ETF’s closing level is ≥ its initial level. At maturity, if any ETF’s final level is below 60% of its initial level, the cash settlement will be reduced pro rata based on the lowest ETF return (potentially substantially below principal). The estimated value on the trade date is between $925 and $955 per $1,000 face amount. Payments are obligations of the issuer and guaranteed by The Goldman Sachs Group, Inc., so holders are exposed to their credit risk.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes linked to the common stock of Freeport-McMoRan Inc. (Bloomberg: "FCX UN"). Each note has a $1,000 face amount, a trade date of July 10, 2026, original issue date July 15, 2026 and a stated maturity of July 29, 2027.

Quarterly coupons are contingent on the underlier closing at or above a coupon trigger level equal to 65% of the initial underlier level. The notes are automatically called if the underlier closes at or above the initial level on any call observation date. A buffer protects losses only down to 65% of the initial level (buffer amount 35%); below that, the cash settlement at maturity is calculated using a buffer rate of approximately 153.85%, which can result in substantial or total loss of principal.

GS Finance Corp. is offering callable 10-year CMT rate-linked range accrual notes guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly interest based on the fraction of reference dates on which the 10-year CMT rate is ≤ the reference rate barrier, multiplied by an interest factor.

Key terms: interest factor 7.00%, reference rate barrier 5.00%, expected trade date July 10, 2026, original issue date July 15, 2026, stated maturity July 15, 2031. Estimated model value at pricing is between $914.5 and $964.5 per $1,000 face amount; original issue price is 100.00% of face amount. The issuer may redeem notes at 100% of face plus accrued interest on specified quarterly redemption dates beginning on or after July 15, 2027, and all payments are subject to the issuer’s and guarantor’s credit risk.

GS Finance Corp. is offering autocallable index-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc., linked to the Nasdaq-100 and Russell 2000 underliers. The notes pay no interest, may be automatically called on annual observation dates and provide a capped cash payoff at maturity based on the lesser performing underlier. Key terms include a trigger buffer level at 70% of initial levels, a stated maturity date of August 6, 2029, and a disclosed maturity date premium amount of at least 38.25%. The notes are subject to issuer and guarantor credit risk, limited liquidity, and tax uncertainties described in the supplement.

The offering describes Autocallable Market-Linked Step Up Notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc., linked to the EURO STOXX® Banks Index. 511,000 units at $10 principal per unit were initially offered with pricing date July 2, 2026, settlement July 8, 2026 and maturity July 11, 2028.

The notes pay no periodic interest and may be automatically called on the Call Observation Date July 9, 2027 for a Call Payment of $12.00 per unit. If not called, redemption depends on the Ending Value versus the Starting Value: holders receive either a Step Up Payment of $4.00 (40.00%) or a return linked 1-to-1 to index performance, subject to a Threshold Value of 235.25 (78.50% of the Starting Value) below which full downside applies. All payments are subject to issuer and guarantor credit risk.

GS Finance Corp. is offering autocallable contingent coupon equity-linked notes due July 13, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay contingent quarterly coupons if the Broadcom Inc. closing level meets a 55% trigger and are automatically called if Broadcom's closing level equals or exceeds the initial level on any call observation date. Each note has a $1,000 face amount; at maturity the cash payment equals $1,000 if the final underlier level is at or above 55% of the initial level, otherwise the payoff equals $1,000 plus $1,000 times the underlier return, meaning investors can lose up to their full investment.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering callable, non‑interest bearing structured notes linked to the common stock of Blackstone Inc. Each note has a $1,000 face amount and an initial index stock price of $123.42. The notes may be automatically called on scheduled observation dates beginning September 29, 2031, and mature on the stated maturity date expected to be July 11, 2034. If not called, maturity payoffs depend on the final index stock price versus thresholds: at or above 90% of the initial price you receive the capped maximum settlement of $2,360 per $1,000; between 60% and 90% you receive the face amount of $1,000; below 60% you receive $1,000 plus $1,000 times the index stock return, which can result in loss of principal. The estimated value on the trade date is expected to be between $850 and $890 per $1,000 face amount.

GS Finance Corp. offers autocal lable contingent coupon equity-linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes reference Microsoft Corporation common stock (Bloomberg: MSFT UW) with an initial underlier level of $386.74 (closing July 6, 2026). Each $1,000 face amount may pay a contingent quarterly coupon of $28.625 (2.8625% quarterly; up to 11.45% per annum) when the underlier is at or above the 65% coupon trigger on observation dates. The notes are autocallable on scheduled call observation dates if the underlier closes at or above the initial level; maturity is July 12, 2029 with final settlement tied to the final underlier level and subject to the trigger buffer of 65%. Investors face credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., potential loss of principal (including any premium), limited upside (cash at maturity capped at 100% of face), uncertain tax treatment, and possible limited liquidity.

GS Finance Corp. is offering contingent monthly-coupon, principal-at-risk notes tied to the Nasdaq-100, Russell 2000 and S&P 500. The offering aggregates $16,022,000 of face amount and is fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes pay a contingent monthly coupon of $11.25 per $1,000 face amount (1.125% monthly, potential for up to 13.50% per annum) only if each underlier’s closing level on the coupon observation date is at or above its coupon trigger level of 70% of its initial level. If any underlier’s final level is below its trigger buffer level of 70%, principal repayment at the January 6, 2028 stated maturity will be reduced pro rata by the lesser performing underlier return; investors could lose their entire investment. The issuer may redeem the notes on coupon payment dates commencing in October 2026 through December 2027. Trade date is July 2, 2026 and original issue date is July 8, 2026.

The issuer, GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.), is offering non‑interest‑bearing structured notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes have an expected trade date of July 17, 2026, an original issue price of 100% of face amount and an expected stated maturity of July 22, 2033.

Holders receive no periodic interest; principal at maturity will be either $1,630 per $1,000 face amount if the final index level is ≥ 101% of the initial index level (the capped maximum settlement amount), or $1,000 per $1,000 face amount otherwise. The notes are subject to automatic call if the index closing level on any annual call observation date beginning in July 2027 is ≥ 101% of the initial index level; call returns range from 9% (first call) up to 54% (final listed call).

The index incorporates daily rebalancing, a 5% volatility control, momentum controls, and a deduction of 0.65% per annum (accruing daily). A very significant portion of the index may be allocated to hypothetical cash positions that earn zero on an excess return basis before the deduction. The estimated value at terms set on the trade date is between $885 and $925 per $1,000 face amount. These notes are unsecured obligations and are subject to issuer and guarantor credit risk.

GS Finance Corp. offers Buffered Digital S&P 500® Index-Linked Notes due 2027, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and provide a capped positive payoff (the maximum settlement amount of at least $1,075 per $1,000 face) if the final S&P 500 level is greater than or equal to an 85% buffer level. If the final level is below the 85% buffer, holders suffer a leveraged decline equal to approximately 1.1765% of face for each 1% drop below the buffer, and could lose their entire investment. Trade date, pricing and certain terms are set on the trade date; original issue price equals 100% of face with a 1% underwriting discount.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering autocallable S&P 500® index-linked notes due 2031. For each $1,000 face amount the notes pay $1,086 if automatically called on the call payment date. If not called, maturity payments depend on S&P 500 performance with a 70% buffer and 100% upside participation. The notes pay no interest, carry issuer and guarantor credit risk, may be illiquid and can result in a substantial loss of principal if the final index level is below the buffer. Terms (including the initial index level and issue price) will be set on the trade date.

GS Finance Corp. offers contingent monthly coupon notes guaranteed by The Goldman Sachs Group, Inc. The offering comprises notes with an aggregate face amount of $395,000 and a per-note face amount of $1,000. The notes pay a contingent monthly coupon of $8 per $1,000 (0.8% monthly; up to 9.6% per annum) only if each underlier closes at or above its coupon trigger level (82.3% of its initial level) on the related coupon observation date. The notes reference three equity underliers: Amazon.com, Inc., Microsoft Corporation and NVIDIA Corporation, have a trade date of July 2, 2026, an original issue date of July 8, 2026 and a stated maturity date of July 8, 2031. The notes include an automatic call feature that redeems all outstanding notes at par if, on any call observation date beginning July 2, 2027, each underlier’s closing level is at or above its initial underlier level. The estimated value on the trade date is stated as $952 per $1,000 and the pricing shows an underwriting discount of 3.625%, producing net proceeds of 96.375% of face amount. The pricing supplement highlights credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., limited secondary‑market liquidity, and that coupons may be $0 for many observation dates.

GS Finance Corp. priced principal‑protected‑style structured notes linked to a weighted basket comprised of the S&P 500® Futures Excess Return Index (60%), the Russell 2000® Index (30%) and the State Street® Health Care Select Sector SPDR® ETF (10%). The notes have an initial basket level of 100, an expected trade date of July 10, 2026, an expected original issue date of July 15, 2026, an expected call observation date of July 12, 2027 (automatic call pays $1,137.50 per $1,000) and an expected stated maturity of July 13, 2029. The notes pay no interest, have a 15% downside buffer (buffer level = 85) and a 100% upside participation. The issuer and guarantor credit exposure is to GS Finance Corp. and The Goldman Sachs Group, Inc.. The estimated value at pricing is stated between $925 and $955 per $1,000 face amount. These notes are unsecured obligations; market value, tax treatment, market disruptions and calculation‑agent discretion are highlighted risks.

The issuer, GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.), is offering structured notes linked to the Class C common stock of Dell Technologies Inc., and the common stock of Arista Networks, Inc. and ServiceNow, Inc.. The notes mature on July 11, 2028, may be automatically called beginning July 2027, pay monthly coupons only if each index stock meets 50% thresholds on observation dates, and at maturity either return principal or a reduced cash settlement based on the lesser performing index stock if a trigger event occurs. The prospectus shows an estimated value of approximately $962 per $1,000 face amount at pricing and an original issue price of 100% (underwriting discount 1%).

GS Finance Corp. priced $18,344,000 of Contingent Income Auto-Callable Securities linked to Amazon.com, Inc. stock, due July 6, 2029. The securities pay contingent quarterly coupons of $26.375 per $1,000 only if the underlying closing price on each coupon observation date is at or above the downside threshold of $145.602 (60.00% of the initial share price). If the securities are auto-called on a call observation date when Amazon's closing price is at or above the initial share price of $242.67, investors receive principal plus the then-due coupon. If not called and the final share price is below the downside threshold, repayment at maturity is reduced 1:1 by share performance and could be zero. The original issue price is 100% with an underwriting discount of 2.25% and an estimated model value of approximately $969 per security.

GS Finance Corp. offers leveraged, buffered notes linked to the S&P 500® Futures Excess Return Index, guaranteed by The Goldman Sachs Group, Inc. The notes have a 197% upside participation rate, a 20% buffer (buffer level equal to 80% of the initial underlier level) and a $1,000 face amount per note. The trade date is July 10, 2026, original issue date July 15, 2026, determination date July 10, 2031 and stated maturity date July 15, 2031. At maturity the cash payment per $1,000 face amount will be: (1) $1,000 plus the upside participation times the underlier return if the final underlier level is greater than the initial level; (2) $1,000 if the final level is between the initial level and the buffer level (inclusive); or (3) $1,000 plus $1,000 times the buffer rate times (underlier return plus the buffer amount) if the final level is below the buffer level, which can result in a substantial loss of principal. The notes pay no interest, are paid in cash, and are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers principal-protected, non‑interest bearing medium‑term notes linked to the Goldman Sachs Momentum Builder® Focus ER Index with an expected trade date of July 8, 2026 and a stated maturity expected to be July 11, 2031. For each $1,000 face amount, investors will receive at maturity either the maximum settlement amount (set on the trade date) of at least $1,570 if the final index level is greater than or equal to the initial index level, or $1,000 if the final index level is less than the initial index level.

The index is an actively rebalanced, momentum‑seeking index that allocates among up to nine underlying indices plus a return‑based money market position and may shift exposure to non‑interest bearing cash positions under a 5% realized volatility control or negative momentum rules. The index and the notes are subject to a deduction of 0.65% per annum (accruing daily). The estimated value at pricing is between $850 and $880 per $1,000 face amount; the original issue price is set at 100% of face amount. Read the pricing supplement for full risks, including credit exposure to GS Finance Corp. and The Goldman Sachs Group, Inc.

GS Finance Corp. offers callable contingent coupon notes linked to the VanEck Semiconductor ETF (SMH). Each note has a $1,000 face amount, a contingent quarterly coupon (at least $46.875 per $1,000 when the underlier meets the coupon trigger) and a maturity cash settlement tied to the underlier's final level. The notes include an 80% buffer level and a 20% buffer amount; if the final underlier level is below the buffer level, losses apply per the stated formula. The issuer may redeem the notes on coupon payment dates beginning February 2027. Payments depend on the underlier, not on holding ETF shares, and are subject to issuer and guarantor credit risk.

GS Finance Corp. offers $ Buffered S&P 500® Index-Linked Notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and return a cash amount at maturity per $1,000 face amount linked to the S&P 500® Index performance from the trade date through the determination date.

Key terms include a buffer of 10% (buffer level 90%), a maximum settlement amount of $1,217 per $1,000 face amount, trade date July 9, 2026, original issue date July 14, 2026, determination date July 10, 2028 and stated maturity July 13, 2028. If the final index level is above the initial level you receive the underlier return up to the cap; if it falls but not beyond the buffer you receive the face amount; if it falls beyond the buffer you incur proportional losses.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering principal-protected structured notes linked to the Goldman Sachs Momentum Builder® Focus ER Index. The notes have an expected trade date of July 24, 2026, an expected original issue date of July 29, 2026, and an expected stated maturity date of July 27, 2029. The notes do not bear interest. If the final index level is ≥102% of the initial index level on the determination date, the cash settlement amount is capped at $1,337.50 per $1,000 face amount (a 33.75% maturity date return). If the final index level is less than 102%, holders receive $1,000 per $1,000 face amount. The notes include semi-annual automatic call observation dates beginning in July 2027 with specified call returns and are subject to index deductions of 0.65% per annum and potential allocation to non‑interest bearing cash positions. The estimated value at pricing is between $925 and $965 per $1,000 face amount. Credit risk, limited upside, indexing deductions, discretionary calculation-agent adjustments, illiquidity and hedging conflicts are disclosed risks.

GS Finance Corp. is offering Buffered Digital S&P 500® Index-Linked Notes due July 28, 2027, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc.. For each $1,000 face amount, the cash settlement equals the maximum settlement amount (at least $1,088) if the final underlier level is greater than or equal to the buffer level (90% of the initial level). If the final underlier level is below the buffer level, the investor loses approximately 1.1111% of face amount for every 1% decline below the buffer level and could lose the entire investment. The notes pay no interest, are subject to issuer and guarantor credit risk, and have limited upside because of the capped maximum settlement amount. Terms (including initial underlier level and aggregate face amount) will be set on the trade date; the prospectus and supplements govern risks, tax treatment, and distribution.

GS Finance Corp. is offering callable, contingent‑coupon notes linked to the VanEck Semiconductor ETF (SMH), guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount, a contingent quarterly coupon of $54.375 (5.4375% quarterly; potential up to 21.75% per annum) payable only when the underlier closes at or above 80% of its initial level on observation dates. The notes include a 20% buffer (buffer level: 80%) that reduces downside according to the terms; at maturity the payout is capped at 100% of face and can be substantially less if the final underlier level falls below the buffer. The issuer may redeem the notes on coupon payment dates from February 2027 through February 2029. Trade date is July 31, 2026; original issue date is August 5, 2026; stated maturity is May 3, 2029. Pricing, estimated value, secondary market liquidity, tax treatment, and credit risk of GS Finance Corp. and its guarantor are disclosed in the supplement.

GS Finance Corp. offers contingent quarterly-coupon, auto-callable notes linked to the common stock of GE Vernova Inc. The offering has an aggregate face amount of $3,908,000 and $1,000 face amounts per note. Coupons are contingent on the underlier closing at or above a 65% trigger; notes automatically redeem early if the underlier equals or exceeds the initial level. At maturity, if not called, the cash payment depends on the underlier return and a 35% buffer; investors may lose their entire investment if the final underlier level is sufficiently low. The notes are senior unsecured obligations of GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., and carry underwriting discount and model-based pricing considerations described in the supplement.

GS Finance Corp. priced contingent monthly coupon notes (guaranteed by The Goldman Sachs Group, Inc.) with an aggregate face amount of $4,716,000. Each $1,000 note pays a contingent monthly coupon tied to three indices (Nasdaq-100, Russell 2000, S&P 500). If not called early, final cash at maturity depends solely on the lesser performing underlier, with full principal preserved only if that underlier is at or above 70% (trigger buffer) of its initial level; otherwise the cash settlement equals $1,000 multiplied by the lesser performing underlier return. The notes may be automatically called quarterly if all underliers are at or above their initial levels; coupons pay only when all underliers meet 80% coupon triggers on observation dates. Trade date is July 2, 2026, original issue date July 8, 2026, and stated maturity is July 7, 2028. The notes are subject to issuer and guarantor credit risk and may pay no coupon and lose substantial principal.

GS Finance Corp. is offering structured notes linked to the S&P 500® Index, the Russell 2000® Index and the iShares® MSCI Emerging Markets ETF. The notes have a face amount of $1,000 per note, aggregate initial face amount of $5,645,000, trade date July 2, 2026 and stated maturity April 6, 2027.

The notes pay conditional monthly coupons of $9.792 per $1,000 (0.9792% monthly; potential ~11.75% per annum) only if each underlier’s closing level on an observation date is ≥77.5% of its initial level. If not redeemed, the maturity cash payment depends on the lesser performing underlier and provides a 22.5% buffer; losses beyond the buffer are passed to holders subject to a buffer rate (~129.03%). The estimated value at pricing was approximately $980 per $1,000 face amount, below the issue price of 100%.

GS Finance Corp. is offering $4,946,000 aggregate face amount of medium-term notes, fully and unconditionally guaranteed by The Goldman Sachs Group, Inc. The notes are cash-settled and linked to the S&P 500® Index with an upside participation rate of 187.74%, a buffer level of 90% (buffer amount 10%) and an automatic call feature.

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 $1,100 per $1,000 face amount on the call payment date. If not called, payoff at maturity depends on the final underlier level: investors may receive enhanced upside (participation rate applied to positive return), receive principal back if the final level is at or above the buffer level, or suffer losses that can amount to the entire investment if the final level is below the buffer level. The notes pay no interest and are subject to issuer and guarantor credit risk.

GS Finance Corp. offers principal‑linked, autocallable notes due July 7, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes reference an equally weighted basket of seven stocks with an initial basket level of 100 and an upside participation rate of 125%. If the closing level of the basket on the call observation date (July 15, 2027) is ≥ the initial basket level, the notes are automatically called and pay $1,237 per $1,000 face amount. If not called, the cash settlement at maturity (July 7, 2028) depends on the final basket level: positive basket return pays $1,000 + $1,000 × 125% × basket return; returns between 0% and -15% pay $1,000; returns below -15% produce a reduced payment computed using a buffer rate (~117.65%), which can result in losses to principal. The original issue price is 100% with a selling concession/underwriting discount of 1.5% and net proceeds of 98.5%. The estimated value on the trade date is approximately $945 per $1,000 face amount. The notes do not pay interest, are unsecured obligations, and are subject to issuer and guarantor credit risk.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, non-interest-bearing notes linked to an equally weighted 8-stock basket with an original issue date of July 7, 2026. The notes mature on July 7, 2028 but will be automatically called if the basket closing level on the call observation date (July 15, 2027) is greater than or equal to the initial basket level, in which case each $1,000 face amount pays $1,240 on the call payment date (July 20, 2027).

At maturity, payment per $1,000 depends on the basket return: full participation (100%) in positive returns; return of $1,000 if the final basket level is between 85% and 100% of the initial level; and downside exposure below the 85% buffer with a buffer rate of ~117.65%, which can produce substantial principal loss. The estimated value on the trade date is approximately $947 per $1,000 face amount. The offering includes an underwriting discount of 1.5% and net proceeds of 98.5% of face amount.

GS Finance Corp. is offering autocallable buffered notes linked to the State Street® SPDR® S&P® Metals & Mining ETF (XME) with aggregate face amount of $2,554,000 on original issue. The notes mature July 7, 2028, and may be automatically called July 15, 2027, for $1,178.4 per $1,000 face amount if the ETF closing level on the call observation date is >= the initial level of $105.13. If not called, maturity payment depends on ETF performance to the determination date (July 3, 2028): positive ETF return pays 150% of ETF gain; declines up to 25% return principal; declines beyond 25% expose investors to downside such that they lose approximately 1.333% of face amount per 1% decline below 75% of initial level. The notes do not pay interest, are unsecured obligations of GS Finance Corp., and are guaranteed by The Goldman Sachs Group, Inc. The estimated value at pricing was approximately $982 per $1,000 face amount, below issue price; underwriting discount was 1.5%.

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, have a 100% upside participation rate and are subject to annual automatic call provisions beginning in July 2027. GS&Co. estimates the notes' value at $850 to $880 per $1,000 face amount on the trade date; the original issue price exceeds that estimate. If not called, maturity payment depends on the index return (capped upside on call dates via scheduled call premiums and principal protection to the face amount at maturity).

GS Finance Corp. prices callable, buffered, monthly Russell 2000® Index-linked range accrual notes due July 31, 2031, guaranteed by The Goldman Sachs Group, Inc. Each note has a $1,000 face amount and may pay monthly interest based on the proportion of scheduled trading days the Russell 2000® closing level is at or above 85% of the initial level; the applicable interest factor is 7.25%. The issuer may redeem the notes at par on any monthly interest payment date on or after July 31, 2027. At maturity the principal repayment is conditional: if the final index level is at least 85% of the initial level you receive $1,000, otherwise the cash settlement declines in proportion to the index return below the 85% buffer (the buffer amount is 15%). The estimated value on the trade date is expected to be between $886 and $936 per $1,000 face amount.

GS Finance Corp. offers autocallable buffered S&P 500® index-linked notes due July 7, 2028 (guaranteed by The Goldman Sachs Group, Inc.). For each $1,000 face amount, notes pay $1,100 if automatically called on the call observation date of July 15, 2027. If not called, maturity payoff on July 3, 2028 depends on S&P 500 performance versus the initial level of 7,483.24, with a 10% buffer and a capped threshold settlement amount of $1,200. Notes do not bear interest, are unsecured, and their estimated value at pricing was approximately $981 per $1,000 face amount. Original issue price is 100% with a 1.5% underwriting discount; net proceeds to issuer equal 98.5%. The offering is subject to issuer and guarantor credit risk and model-based valuation assumptions.

GS Finance Corp. is offering autocallable, VanEck Gold Miners ETF (GDX)-linked notes due July 13, 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, can be automatically called on July 28, 2027 if the underlier closes at or above its initial level, and provide a capped call payment of at least $1,269 per $1,000 face amount if called. If not called, the cash settlement at maturity depends on the final underlier level: investors receive upside participation of 125% for positive returns, full return of principal for final levels at or above an 80% buffer level, and a downside formula that can result in total loss if the final underlier level is sufficiently low. The notes are subject to the credit risk of GS Finance Corp. and its guarantor, have an original issue price equal to 100% of face amount, and carry an underwriting discount of 1.5%.

GS Finance Corp. offers structured notes (guaranteed by The Goldman Sachs Group, Inc.) linked to the S&P 500®, TLT, XLU and GLD with a stated maturity of July 8, 2030. The notes pay a monthly coupon of $9.625 per $1,000 if each underlier closes at or above 70% of its initial level on an observation date. If not redeemed, final payment depends on the lesser performing underlier: investors receive full principal if every final level is at least 60% of initial levels, no coupon if any final level is below 70%, and may suffer principal loss proportional to the lesser performing underlier if any final level is below 60%. The estimated value at pricing was approximately $980 per $1,000 face amount; original issue price is 100% of face amount. Terms include the issuer’s call right on coupon dates (Oct 2026–Jun 2030) and reliance on the calculation agent for adjustments, market disruption and successor-underlier determinations.

GS Finance Corp. offers contingent monthly-coupon, principal-at-risk notes backed by a Goldman Sachs guarantee. The pricing supplement covers an aggregate face amount of $4,624,000 of notes that pay a contingent monthly coupon of 1.0834% (potentially ~13.00% per annum) and that mature on July 6, 2029, subject to the issuer’s early redemption right commencing July 2027. The cash settlement at maturity is tied solely to the lesser performing underlier (the Nasdaq-100 Technology Sector Index, Russell 2000 Index and S&P 500 Index), with a 70% coupon trigger/trigger buffer level; if the final level of the lesser performing underlier is below that buffer, investors incur proportional principal loss (you could lose your entire investment).

GS Finance Corp. offers structured, dual‑underlier notes (backed by The Goldman Sachs Group, Inc.) linked to the VanEck Gold Miners ETF (GDX) and the State Street SPDR S&P Bank ETF (KBE). The notes mature on April 5, 2029 but include an automatic call feature commencing January 2027 through March 2029 if both underliers close at or above their initial levels ($78.43 for GDX; $68.62 for KBE). Coupons of $9.875 per $1,000 are paid on a coupon payment date only if each underlier’s closing level on the related coupon observation date is at least 70% of its initial level; otherwise no coupon is paid. At maturity, if not called, the cash settlement depends on the lesser performing underlier versus buffer thresholds (buffer = 80% of initial level; buffer amount = 20%), which can result in full principal, a partial principal payment, or a loss of principal. The pricing supplement states the estimated value on the trade date is approximately $944 per $1,000 face amount and the original issue price is 100% of face.

GS Finance Corp. (guaranteed by The Goldman Sachs Group, Inc.) is offering structured, market-linked, medium-term notes (GSCE) that pay a contingent monthly coupon and include an automatic call feature. Each $1,000 note may pay a monthly coupon of $11.25 if all three underliers meet 70% trigger levels on observation dates. If not automatically called, the cash settlement at maturity depends solely on the performance of the lesser performing underlier (Nasdaq-100, Russell 2000, S&P 500) relative to its initial level; losses can be up to the full principal. The notes are subject to issuer and guarantor credit risk, limited secondary-market liquidity, tax uncertainty, and a 0.725% underwriting concession from the face amount.

GS Finance Corp. offers structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER that mature on July 8, 2031. The notes pay monthly coupons only if the index on an observation date is at least 50% of the initial underlier level 503.48, may be automatically called beginning July 2027, and are subject to a daily 6.0% per annum decrement. The aggregate originally issued face amount was $328,000; the original issue price is 100% and the estimated value on the trade date was approximately $962 per $1,000 face amount.

The notes expose holders to leveraged futures-based performance, a rules-based volatility-target overlay (maximum exposure 500% and maximum daily leverage change 100%), issuer and guarantor credit risk, potential loss of principal at maturity if the final underlier level is below the trigger buffer (50%), and limited secondary-market liquidity.

GS Finance Corp. is offering $1,000 face‑amount denominated Leveraged Equity‑Linked Notes due August 12, 2027, linked to the common stock of Micron Technology, Inc. The notes pay no interest and return at maturity depends on the initial underlier level of $975.56, the final underlier level on the August 9, 2027 determination date, a 300% upside participation rate, a maximum settlement amount of $1,785 per $1,000 face amount and a 40% trigger buffer level. If the final underlier level is below the trigger buffer level, losses are proportional to the underlier decline and you could lose your entire investment. The notes are senior unsecured obligations of GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., and exposed to issuer and guarantor credit risk.

GS Finance Corp. is offering $ Trigger Autocallable Contingent Yield Notes due 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay quarterly contingent coupons (at least $0.225 per $10, up to 9.00% per annum) only if both the Russell 2000® and Nasdaq-100® close at or above their coupon barriers on each observation date. Beginning January 2027 the notes are subject to an automatic call if both indices equal or exceed their initial levels on any call observation date; a call pays the $10 face amount plus the contingent coupon then due. At maturity (July 15, 2031), if not called, principal repayment is contingent: if each index is at or above its downside threshold (70% coupon barrier; 60% downside threshold specified per index), holders receive $10 plus any final contingent coupon; if the lesser performing index is below its downside threshold, holders suffer a loss equal to the lesser performing index return and could lose a significant portion or all principal. The estimated model value on the trade date is between $9.55 and $9.85 per $10, while the original issue price is 100% of face. The notes are unsecured obligations of GS Finance Corp. and subject to issuer and guarantor credit risk.

GS Finance Corp. is offering autocallable S&P 500® Index-linked notes due 2028, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, can be automatically called on the call observation date and provide capped upside participation (200%) and a 15% downside buffer.

If automatically called, investors receive $1,092.50 per $1,000 face amount on the call payment date. If not called, payoff at maturity depends on final index performance: full principal if index ≥85% of initial level, enhanced return if index rises, and reduced principal (subject to the 15% buffer mechanics) if index falls below 85%.

GS Finance Corp. is offering autocallable EURO STOXX 50® index-linked notes due August 5, 2031, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, feature a 200% upside participation rate, an 85% buffer level and an automatic call that pays $1,142.50 per $1,000 face amount on the call payment date if the underlier closes at or above the initial level on the call observation date.

The cash settlement at maturity, if not called, depends on the final underlier level: upside participation if the index finishes above the initial level; return of principal if the final level is at or above the buffer (85%); and a downside payoff formula applying a 100% buffer rate and 15% buffer amount if the final level is below the buffer, which can result in a substantial loss of principal.

GS Finance Corp. offers leveraged buffered S&P 500® Futures Excess Return Index‑linked notes due 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay a cash settlement at maturity tied to the S&P 500 Futures Excess Return Index performance from the trade date to the determination date, with a 130% upside participation and a 20% buffer (buffer level 80% of initial). If the final underlier is at or above the initial level, holders receive face amount plus 130% of the underlier return. If the underlier declines up to 20%, the absolute decline is paid as a positive return; declines beyond the 20% buffer produce proportional losses to principal. Notes bear no interest, are cash‑settled per $1,000 face amount, and are subject to issuer/guarantor credit risk, market‑value volatility, roll/contango effects of futures, and tax uncertainties.

GS Finance Corp. is offering $1,000 face‑amount Autocallable Goldman Sachs Momentum Builder® Focus ER Index‑Linked Notes due August 9, 2032, guaranteed by The Goldman Sachs Group, Inc.. The notes can be automatically called on specified semi‑annual observation dates beginning August 2, 2027 if the index closes at or above its initial level; call payments equal principal plus a call premium. If not called, the maturity cash payment depends on the final index level relative to the initial index level and is capped (maturity premium amount disclosed as 54%). The index applies daily rebalancing, a 5% realized volatility control, a momentum risk control and a deduction of 0.65% per annum, and may allocate substantial exposure to hypothetical cash positions. Estimated value on the trade date is listed as $850 to $890 per $1,000 face amount (less than issue price). The notes do not pay interest and are subject to issuer/guarantor credit risk, limited secondary market liquidity and U.S. federal income tax rules for contingent payment debt instruments.

GS Finance Corp. is offering Market Linked Securities—Auto-Callable with Fixed Percentage Buffered Downside (linked to the VanEck Gold Miners ETF) with a $1,000 face amount and a stated maturity date of August 3, 2029. The securities may be automatically called on specified call dates if the fund closing price of the underlier is >= 85.00% of the starting price. Call premiums are fixed (to be set on the pricing date) and will be at least 13.00%, 19.50%, 26.00%, 32.50% and 39.00% on successive call dates. If not called, holders have 1-to-1 downside exposure beyond a 15.00% buffer and may lose up to 85.00% of face amount. Estimated value at pricing is between $925 and $955 per $1,000 face amount; original offering price is $1,000 per security.

GS Finance Corp. is offering leveraged, buffered basket-linked notes due July 20, 2028 (trade date expected July 17, 2026). Each $1,000 face amount pays a cash settlement tied to a weighted basket (S&P 500 35%, Russell 2000 20%, EURO STOXX 50 15%, Nasdaq-100 15%, MSCI Emerging Markets 15%). The notes provide 200% upside participation in positive basket returns subject to a cap (cap level 113.5%; maximum settlement $1,270 per $1,000). A 10% buffer protects losses up to -10%; declines beyond -10% reduce principal dollar-for-dollar after adding back the 10% buffer. The notes pay no interest, are unsecured obligations of GS Finance Corp. guaranteed by The Goldman Sachs Group, Inc., and carry issuer/guarantor credit risk. The estimated value on the trade date is expected to be between $925 and $965 per $1,000 face amount.

GS Finance Corp. is offering $1,000 face-amount Autocallable Goldman Sachs Momentum Builder® Focus ER Index-Linked Notes due August 8, 2033, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest, participate 100% in positive index returns at maturity (subject to the upside participation rate), and feature annual automatic-call opportunities beginning on August 9, 2027 with increasing call levels and capped call premiums.

The notes reference the GSMBFC5 Index, which daily rebalances among up to nine underlying indices plus cash, applies a 5% realized volatility control and a 0.65% per annum deduction (accruing daily); a very significant portion of the index may be allocated to hypothetical cash positions, which earn zero on an excess-return basis before the deduction. The estimated per-note value on the trade date is $850 to $890 per $1,000 face amount.