GS Finance Corp. Files 424B2 Prospectus for New Securities Offering

TL;DR

**GS Finance Corp. just filed a prospectus, likely gearing up to issue new securities.**

AI Summary

GS Finance Corp. filed a 424B2 prospectus on March 24, 2026, detailing an offering under its parent company, Goldman Sachs Group Inc. This filing is a standard procedure for offering securities, indicating that GS Finance Corp. is likely preparing to issue new financial products. For investors, this means potential new investment opportunities from GS Finance Corp. and a possible expansion of its funding sources, which could impact the company's financial structure and future profitability.

Why It Matters

This filing signals that GS Finance Corp. is preparing to raise capital, which could lead to new investment products or changes in its debt structure, impacting its financial health and future growth prospects.

Risk Assessment

Risk Level: low — This is a routine prospectus filing for potential future offerings and does not inherently indicate immediate financial distress or significant risk.

Analyst Insight

Investors should monitor future filings from GS Finance Corp. for details on the specific securities being offered, as this prospectus is a preliminary step. This could present new investment opportunities or signal changes in the company's capital structure.

Key Players & Entities

• GS Finance Corp. (company) — Filer of the 424B2 prospectus
• Goldman Sachs Group Inc. (company) — Parent company of GS Finance Corp.
• March 24, 2026 (date) — Filing date of the 424B2 prospectus
• 0001419828 (other) — CIK for GS Finance Corp.
• 0000886982 (other) — CIK for Goldman Sachs Group Inc.

FAQ

Key Financial Figures

• $1,000 — ty date, the company will pay, for each $1,000 face amount of the notes, an amount in
• $1,104.50 B — Maximum settlement amount: at least $1,104.50 Buffer level: 90% of the initial underl
• $900 — amount / Additional amount end date: $900 to $930 per $1,000 face amount, which i
• $930 — / Additional amount end date: $900 to $930 per $1,000 face amount, which is less t
• $1,000 M — y Terms and Assumptions Face amount $1,000 Maximum settlement amount $1,104.50 B

Filing Documents

• spxmk172_auto_prelim.htm (424B2) — 144KB
• img133599985_0.jpg (GRAPHIC) — 4KB
• img133599985_1.jpg (GRAPHIC) — 55KB
• img133599985_2.jpg (GRAPHIC) — 58KB
• 0001193125-26-121267.txt ( ) — 308KB

From the Filing

424B2 Filed Pursuant to Rule 424(b)(2) Registration Statement No. 333-284538 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. $ Buffered Digital S&P 500 Index-Linked Notes due 2027 guaranteed by The Goldman Sachs Group, Inc. Payment at Maturity: The amount that you will be paid on your notes on the stated maturity date is based on the performance of the underlier as measured from the trade date to and including the determination date. • If the final underlier level on the determination date is greater than or equal to the buffer level, you will receive the maximum settlement amount. • If the final underlier level is less than the buffer level, the return on your notes will be negative and you will lose approximately 1.1111% of the face amount of your notes for every 1% that the final underlier level has declined below the buffer level. You could lose your entire investment in the notes. Interest: The notes do not bear interest. The terms included in the “Key Terms” table below are expected to be as indicated, but such terms will be set on the trade date. You should read the disclosure herein to better understand the terms and risks of your investment, including the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. See page PS-5. Key Terms Company (Issuer) / Guarantor: GS Finance Corp. / The Goldman Sachs Group, Inc. Aggregate face amount: $ Cash settlement amount: On the stated maturity date, the company will pay, for each $1,000 face amount of the notes, an amount in cash equal to: • if the final underlier level is greater than or equal to the buffer level: the maximum settlement amount; or • if the final underlier level is less than the buffer level: $1,000 + ($1,000 × the buffer rate × (the underlier return + the buffer amount)) Underlier: the S&P 500 Index (current Bloomberg symbol: “SPX Index”) Maximum settlement amount: at least $1,104.50 Buffer level: 90% of the initial underlier level Buffer amount: 10% Buffer rate: the initial underlier level ÷ the buffer level, which quotient equals approximately 111.11% Trade date: March 27, 2026 Original issue date: April 1, 2026 Determination date: April 9, 2027* April 14, 2027* Initial underlier level: set on the trade date and will be the closing level of the underlier on the trade date Final underlier level: the closing level of the underlier on the determination date* Underlier return: (the final underlier level - the initial underlier level) ÷ the initial underlier level Calculation agent: Goldman Sachs & Co. LLC (“GS&Co.”) CUSIP / ISIN: 40058YQC9 / US40058YQC92 * subject to adjustment as described in the accompanying general terms supplement Our estimated value of the notes on trade date / Additional amount / Additional amount end date: $900 to $930 per $1,000 face amount, which is less than the original issue price. The additional amount is $ and the additional amount end date is . See “The Estimated Value of Your Notes At the Time the Terms of Your Notes Are Set On the Trade Date Is Less Than the Original Issue Price Of Your Notes.” Original issue price Underwriting discount Net proceeds to the issuer 100% of the face amount 1 1% of the face amount 1 99% of the face amount 1 Accounts of certain national banks, acting as purchase agents for such accounts, have agreed with the purchase agents to pay a purchase price of % of the face amount, and as a result of such agreements, the agents with respect to sales to be made to such accounts will not receive any portion of the underwriting discount. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. The notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank. Goldman Sachs & Co. LLC JPMorgan (Placement Agent) Pricing Supplement No. dated , 2026. The issue price, underwriting discount and net proceeds listed above relate to the notes we sell initially. We may decide to sell additional notes after the date of this pricing supplement, at issue prices and with underwriting discounts and net proceeds that differ from the amounts set forth above. The return (whether positive or negative) on your investment in notes will depend in part on the issue price you pay for such notes. GS Finance Corp. may use this prospectus in the init

View Full Filing

View this 424B2 filing on SEC EDGAR