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.