GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering leveraged notes linked to the S&P 500 Index. For each $1,000 note, if the final index level exceeds the initial level, payment equals $1,000 plus 300% of the index gain, capped by a maximum settlement amount expected between $1,155.10 and $1,182.40. If the final level is at or below the initial level, investors receive $1,000 plus $1,000 times the index return, so losses match index declines and can reach 100% of principal. The notes pay no interest, have no shareholder or dividend rights in index constituents, and their market value can be volatile and sensitive to interest rates, S&P 500 performance, and the credit of GS Finance Corp. and its parent. U.S. tax treatment is uncertain; the issuer intends to treat the notes as pre-paid derivative contracts, and non-U.S. holders may be affected by section 871(m) and FATCA rules.
GS Finance Corp., fully and unconditionally guaranteed by The Goldman Sachs Group, Inc., is offering Buffered Digital S&P 500 Index-Linked Notes under its Medium-Term Notes, Series F program. The notes are linked to the S&P 500 Index and do not pay periodic interest.
At maturity, for each $1,000 note, investors receive either the maximum settlement amount, expected between $1,161.20 and $1,189.60, if the final S&P 500 level is at or above the buffer level, or a reduced amount if it is below. The buffer level is 90% of the initial index level, with a 10% buffer amount and a buffer rate of approximately 111.11%, so losses accelerate beyond the buffer and investors can lose their entire investment.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and the guarantor. The estimated value at pricing is less than the original issue price, the notes will not be listed, may have limited liquidity, and their market value can be affected by interest rates, index volatility, dividends, and the issuer’s credit quality. U.S. federal tax treatment is uncertain; the notes are intended to be treated as pre-paid derivative contracts for tax purposes.
GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering S&P 500® Index-linked notes due February 20, 2032 under its Medium-Term Notes, Series F program. Payment at maturity depends on the S&P 500® Index level on the determination date relative to its initial level.
For each $1,000 note, if the final index level is above the initial level, investors receive $1,000 plus the index return, capped by a maximum settlement amount of at least $1,574. If the final index level is equal to or below the initial level, investors receive only the $1,000 face amount. The notes pay no periodic interest and are subject to the credit risk of both GS Finance Corp. and the guarantor.
The economic and secondary-market value of the notes is expected to be lower than the original issue price due to underwriting discounts, structuring fees and other costs. For U.S. tax purposes, the notes are treated as contingent payment debt instruments, generally requiring accrual of taxable ordinary income over their term even though cash is only received at maturity.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering structured notes linked to the S&P 500® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER. Total initial face amount is $450,000, in $1,000 denominations, with potential increases later.
For each $1,000, investors may receive a $12.50 monthly coupon (1.25%, up to 15% per annum) when the index level on a coupon observation date is at least 60% of the initial level of 485.15. Notes are automatically called at par plus coupon if, from July 2027 to April 2031, the index on a quarterly call date is at or above the initial level. At maturity in July 2031, if not called, principal is protected only down to a 40% trigger buffer; below that, losses mirror the index decline and can reach 100% of principal.
The underlier uses up to 500% leverage and a daily 6% per annum decrement, which drags performance and can magnify losses. The estimated value at pricing is about $940 per $1,000, below the 100% issue price, and payments are subject to the credit risk of GS Finance Corp. and its guarantor.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering autocallable index-linked notes due August 4, 2033 tied to the Goldman Sachs Momentum Builder® Focus ER Index. The notes have a principal repayment floor at maturity: if they are not automatically called, you receive at least the $1,000 face amount per note, regardless of index performance.
On semi-annual call observation dates from August 2027 to January 2033, if the index closing level is at or above its initial level, the notes are automatically redeemed for $1,000 plus a fixed call premium (starting at 10.50% and rising to 68.25%). If never called, and the final index level is at or above the initial level, you receive $1,735 per $1,000 face, reflecting a 73.5% maturity premium; if it is below, you get only the $1,000 face amount, so upside is capped while downside is limited to forgone interest.
The issuer’s estimated value on the trade date is $885–$935 per $1,000, below the issue price, reflecting dealer compensation, structuring costs and model differences. The index itself is a rules-based, multi-asset strategy with daily rebalancing, a 5% volatility control, a momentum risk control feature and annual deductions of 0.65%, and may hold substantial cash-like exposures. The notes pay no periodic interest, are subject to the credit risk of GS Finance Corp. and the guarantor, and 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 Autocallable Contingent Coupon Index-Linked Notes due August 3, 2029, linked to the S&P 500, Russell 2000 and Nasdaq‑100 indices. The notes may be automatically called monthly from October 2026 if each index is at or above its initial level, in which case investors receive the $1,000 face amount plus the monthly coupon on the related call payment date.
Investors are scheduled to receive a $10.334 coupon per $1,000 (1.0334% monthly, up to ~12.4% per year) on each payment date only if, on the related observation date, the closing level of each index is at least 70% of its initial level; otherwise, no coupon is paid. At maturity, if not previously called, principal repayment depends on the least-performing index. If each index is at least 75% of its initial level, investors receive $1,000 plus the final coupon. If any index is below 75% but all are at least 70%, investors receive between approximately 93.33% and 99.99% of face value plus the final coupon. If any index is below 70%, repayment is reduced in line with a buffer formula and investors may lose up to 100% of principal and receive no coupon.
The notes are unsecured obligations subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. The estimated value on the trade date is expected to be $925–$955 per $1,000, reflecting embedded costs and model assumptions, and may differ from any secondary market price.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., offers leveraged callable notes linked to the S&P 500® Futures Excess Return Index, expected to be issued on August 31, 2026 and maturing on August 31, 2032, unless redeemed early. The notes pay no interest and return at least the $1,000 face amount at maturity if not called.
If the final index level exceeds the initial level on the determination date, investors receive 1.45 times the index return, so the cash payment per $1,000 equals $1,000 plus 145% of the index gain. If the index return is zero or negative, the maturity payment is $1,000. GS Finance Corp. may redeem the notes in whole on specified monthly call dates from August 31, 2027 through August 2, 2032 at $1,000 plus a call premium that starts at at least 30% and steps up to at least 177.5%.
The index references E-mini S&P 500 futures rather than the S&P 500® Index itself, so returns are affected by futures pricing, financing costs and potential negative roll yields. The estimated value on the trade date is expected to be $885–$935 per $1,000, below the 100% issue price, and payments are subject to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering equity-linked notes whose payments depend on the share performance of Advanced Micro Devices, UnitedHealth Group, Tesla and NVIDIA. The notes are expected to trade from an August 26, 2026 trade date and mature on September 3, 2031, unless automatically called.
Investors receive monthly contingent coupons: a maximum coupon of at least $11.042 (at least 1.1042% per month) per $1,000 face amount if each stock’s closing price is at or above 77.5% of its initial price, and a minimum coupon of $0.209 otherwise. If on any call observation date each stock closes at or above its initial price, the notes are automatically redeemed at $1,000 plus the applicable coupon. If held to maturity, principal of $1,000 per note plus the final coupon is paid. The estimated value on the trade date is expected to be $885–$935 per $1,000, reflecting embedded fees and model-based pricing, and the notes carry the unsecured credit risk of GS Finance Corp. and the guarantor.
GS Finance Corp. is offering underlier-linked notes due August 10, 2029, guaranteed by The Goldman Sachs Group, Inc. The notes pay no interest and repay at maturity an amount tied to the lesser performer of the EURO STOXX 50® Index and the iShares® MSCI EAFE ETF.
For each $1,000 note, if on the determination date in 2029 the level of each underlier is above its initial level, investors receive $1,000 plus 218.25% of the gain of the weaker underlier. If any underlier is at or below its initial level but no trigger event (a drop of more than 30% on any day) has occurred, investors receive $1,000.
If a trigger event occurs and the lesser-performing underlier finishes below its initial level, repayment falls one-for-one with that loss, down to zero, so investors can lose their entire principal. The notes’ estimated value at pricing is $925–$965 per $1,000 and investors are exposed to the unsecured credit risk of GS Finance Corp. and its guarantor.
GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc., is offering medium‑term notes whose payments are linked to four “index stocks”: NVIDIA, Alphabet Class C, Advanced Micro Devices and Tesla. The notes are expected to trade from a August 10, 2026 trade date, with an original issue date of August 13, 2026, and mature on August 15, 2033, unless automatically called.
On each monthly coupon observation date, if the closing price of each stock is at least 78% of its initial price, investors receive an accrued coupon equal to $6.417 per $1,000 face amount per month (0.6417%, up to about 7.7% per year), net of prior coupons. The notes are automatically called, and $1,000 plus the then‑due coupon is paid, if on any call observation date from August 2027 through July 2033 all stocks are at or above 78% of their initial prices. If never called, investors receive $1,000 per note at maturity plus the final coupon, if conditions are met. Estimated fair value on the trade date is $885–$925 per $1,000, below the 100% issue price, and investors face both the credit risk of GS Finance Corp. and Goldman Sachs and the risk of receiving no coupons if any stock is below its trigger level.