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.
GS Finance Corp. is offering 260,000 units of Autocallable Leveraged Index Return Notes® linked to the common stock of NVIDIA Corporation. Each unit has a $10 principal amount, an estimated value at pricing of approximately $9.70 per $10 principal amount, and aggregate initial proceeds of $2,600,000. The notes pay no periodic interest, are automatically called on the Call Observation Date July 13, 2027 if the Observation Value is at or above the Call Value, and would then pay a Call Payment of $11.45 per unit. If not called, at final maturity July 13, 2028 the Redemption Amount depends on the Ending Value relative to the Starting Value ($195.55) and the Threshold Value ($117.33); the notes offer a 150.00% Participation Rate for upside but expose holders to 1-to-1 downside below the Threshold Value, with up to 100.00% of principal at risk. All payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc., and secondary market liquidity is expected to be limited. The minimum initial purchase is $100,000.