GS Finance Corp. Files Prospectus for New Securities Offering

TL;DR

**GS Finance Corp. is gearing up to issue new securities, likely to raise fresh capital.**

AI Summary

This 424B2 filing, submitted on March 24, 2026, by GS Finance Corp. (CIK: 0001419828) and Goldman Sachs Group Inc. (CIK: 0000886982), is a prospectus related to a securities offering. While the specific terms of the offering aren't detailed in this summary, it indicates that GS Finance Corp., a subsidiary of Goldman Sachs, is preparing to issue new securities. This matters to investors because new offerings can dilute existing shares or provide capital for growth, depending on the type of security and its use.

Why It Matters

This filing signals that GS Finance Corp., backed by Goldman Sachs, is preparing to raise capital, which could impact the company's financial structure and future growth prospects.

Risk Assessment

Risk Level: medium — The risk level is medium because while the filing itself is procedural, the actual terms of the offering (not detailed here) could introduce significant risk or opportunity for investors.

Analyst Insight

A smart investor would monitor for subsequent filings (like pricing supplements or final prospectuses) to understand the specific terms, size, and type of securities being offered by GS Finance Corp. before making any investment decisions.

Key Players & Entities

• GS Finance Corp. (company) — Filer of the 424B2 prospectus
• Goldman Sachs Group Inc. (company) — Parent company and co-filer of the 424B2 prospectus
• March 24, 2026 (date) — Filing and acceptance date of the 424B2
• 0001419828 (person|company|dollar_amount) — CIK for GS Finance Corp.
• 0000886982 (person|company|dollar_amount) — CIK for Goldman Sachs Group Inc.

FAQ

Key Financial Figures

• $1,000 — if any, the company will pay, for each $1,000 of the outstanding principal amount, an
• $925 — hs & Co. LLC Estimated value range: $925 to $985 per security. See page PS-3 for
• $985 — LLC Estimated value range: $925 to $985 per security. See page PS-3 for more in
• $20.00 — g, will receive a selling concession of $20.00 for each security it sells. It has info
• $5.00 — that it intends to internally allocate $5.00 of the selling concession for each secu
• $33.00 — its downside threshold level, at least $33.00 per security; or • if the inde
• $0.00 — less than its downside threshold level, $0.00 Quarterly coupon observation period:

Filing Documents

• wosrs012_prelim.htm (424B2) — 353KB
• img146451415_0.jpg (GRAPHIC) — 5KB
• img146451415_1.jpg (GRAPHIC) — 296KB
• img146451415_2.jpg (GRAPHIC) — 73KB
• img146451415_3.jpg (GRAPHIC) — 58KB
• img146451415_4.jpg (GRAPHIC) — 57KB
• img146451415_5.jpg (GRAPHIC) — 57KB
• 0001193125-26-121133.txt ( ) — 1106KB

From the Filing

424B2 March 2026 Preliminary Pricing Supplement filed pursuant to Rule 424(b)(2) dated March 24, 2026 / Registration Statement No. 333-284538 STRUCTURED INVESTMENTS Opportunities in U.S. and International Equities The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. GS Finance Corp. Contingent Income Callable Securities Based on the Value of the Worst-Performing of the S&P 500 Index, the Russell 2000 Index and the EURO STOXX 50 Index due March 30, 2028 Principal at Risk Securities The securities are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The amount that you will be paid on your securities is based on the performance of the worst performing of the S&P 500 Index, the Russell 2000 Index and the EURO STOXX 50 Index. We may redeem your securities at our discretion at 100% of their principal amount plus any coupon then due on any coupon payment date on or after July 2, 2026 up to and including the coupon payment date on December 30, 2027 . Unless previously redeemed , (i) if the index closing value of any underlying index is less than its downside threshold level on any index business day during the preceding quarterly coupon observation period, you will not receive a payment on the applicable coupon payment date and (ii) if the index closing value of each underlying index is greater than or equal to its downside threshold level on every index business day during the preceding quarterly coupon observation period, you will receive on the applicable coupon payment date a contingent quarterly coupon. At maturity, if not previously redeemed, (i) if the final index value of each underlying index on the valuation date is greater than or equal to its downside threshold level you will receive the principal amount of your securities plus any contingent quarterly coupon then due and (ii) if the final index value of any underlying index is less than its downside threshold level, you will not receive a contingent quarterly coupon payment and the payment at maturity will be based on the performance of the underlying index with the lowest index performance factor. Investors will not participate in any appreciation of any underlying index. The securities are for investors who seek to earn a contingent quarterly coupon at an above current market rate in exchange for the risk of receiving few or no contingent quarterly coupons and losing a significant portion or all of the principal amount of their securities. SUMMARY TERMS (continued on page PS-2) Company (Issuer) / Guarantor: GS Finance Corp. / The Goldman Sachs Group, Inc. Underlying indexes (each individually, an underlying index): the S&P 500 Index (current Bloomberg symbol: “SPX Index”), the Russell 2000 Index (current Bloomberg symbol: “RTY Index”) and the EURO STOXX 50 Index (current Bloomberg symbol: “SX5E Index”) Principal amount: $ in the aggregate on the original issue date; the aggregate principal amount may be increased if the company, at its sole option, decides to sell an additional amount on a date subsequent to the pricing date. Subject to redemption by the company as provided under “—Early redemption right” below, on the stated maturity date, in addition to the final contingent quarterly coupon, if any, the company will pay, for each $1,000 of the outstanding principal amount, an amount, if any, in cash equal to the payment at maturity. Pricing date: expected to price on or about March 27, 2026 Original issue date: expected to be April 1, 2026 Valuation date: the last observation end date, expected to be March 27, 2028, subject to adjustment as described in the accompanying general terms supplement expected to be March 30, 2028, subject to adjustment as described in the accompanying general terms supplement Payment at maturity: • if the final index value of each underlying index is greater than or equal to its downside threshold level, $1,000; or • if the final index value of any underlying index is less than its downside threshold level, $1,000 × the worst performing index performance factor Initial index value: with respect to each underlying index, the index closing value of such underlying index on the pricing date Final index value: with respect to each underlying index, the index closing value of such underlying index on the valuation date, subject to adjustment as described in the accompanying general terms supplement Downside threshold level: with respect to each underlying index, 70.00% of such underlying index’s initial index value CUSIP / ISIN: 40058YQW5 / US40058YQW56 Underwriter: Goldman Sachs & Co. LLC Estimated value ran

View Full Filing

View this 424B2 filing on SEC EDGAR