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.