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

TL;DR

**GS Finance Corp. is issuing new securities, likely to raise cash for Goldman Sachs.**

AI Summary

GS Finance Corp., a subsidiary of Goldman Sachs Group Inc., filed a 424B2 prospectus on March 24, 2026, for an offering under File No. 333-284538-03. This filing indicates that GS Finance Corp. is preparing to issue new securities, likely debt or structured products, to raise capital. For investors, this means GS Finance Corp. is actively managing its funding and capital structure, which can impact its financial stability and ability to pursue future growth initiatives, ultimately affecting the parent company's overall health.

Why It Matters

This filing signals GS Finance Corp. is raising capital, which can affect its financial leverage and future investment capacity, directly impacting the financial health of its parent, Goldman Sachs Group Inc.

Risk Assessment

Risk Level: medium — The filing itself is a standard procedural document, but the underlying offering could introduce new debt or equity, altering the company's risk profile depending on the terms.

Analyst Insight

Investors should monitor subsequent filings (like pricing supplements) to understand the specific terms of the securities being offered by GS Finance Corp., as these details will reveal the impact on its capital structure and potential returns.

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
• 333-284538-03 (string) — File number for the offering by GS Finance Corp.

FAQ

Key Financial Figures

• $10 — oomberg Symbol Contingent Coupon (per $10 Face Amount) Initial Index Level**
• $0.27125 — IP ISIN S&P 500 Index SPX Index $0.27125/qtr. (up to 10.85% per annum) 6,581.0
• $9.55 — he trade date is expected to be between $9.55 and $9.85 per $10 face amount. For a di
• $9.85 — ate is expected to be between $9.55 and $9.85 per $10 face amount. For a discussion o
• $1,000 — hat may be purchased by any investor is $1,000. PS- 2 Investor Suitability The n
• $0.00 — n date is less than its coupon barrier, $0.00 Coupon barrier: with respect to the

Filing Documents

• worca083_prelim.htm (424B2) — 465KB
• img75143449_0.jpg (GRAPHIC) — 26KB
• img75143449_1.gif (GRAPHIC) — 1KB
• img75143449_2.gif (GRAPHIC) — 1KB
• img75143449_3.gif (GRAPHIC) — 1KB
• img75143449_4.jpg (GRAPHIC) — 58KB
• img75143449_5.jpg (GRAPHIC) — 57KB
• img75143449_6.jpg (GRAPHIC) — 53KB
• img75143449_7.jpg (GRAPHIC) — 57KB
• img75143449_8.jpg (GRAPHIC) — 7KB
• 0001193125-26-121295.txt ( ) — 827KB

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. $ Trigger Autocallable Contingent Yield Notes guaranteed by The Goldman Sachs Group, Inc. Linked to the least performing of the S&P 500 Index, Russell 2000 Index and the Nasdaq-100 Index Investment Description The amount you will be paid on your notes is based on the performance of the least performing of the S&P 500 Index, the Russell 2000 Index and the Nasdaq-100 Index. The notes are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. Your notes will pay a contingent coupon on a coupon payment date only if the closing level of each index on the applicable observation date (quarterly, including the determination date) is equal to or greater than its coupon barrier. Otherwise, no contingent coupon will be paid for the relevant coupon payment date. Commencing in September 2026, your notes will be automatically called if the closing level of each index on any observation date is equal to or greater than its initial index level set on the strike date. If the notes are automatically called, you will receive on the applicable coupon payment date following such observation date a payment per note equal to the face amount plus the contingent coupon otherwise due, and no further payments will be owed to you under the notes. If the notes are not automatically called and the closing level of each index on the determination date (the final index level) is equal to or greater than its downside threshold (which is the same as its coupon barrier), you will receive the face amount of your notes plus the final contingent coupon. If, however, the notes are not automatically called and the final index level of any index is less than its downside threshold, you will receive less than the face amount of your notes and you will not receive a final contingent coupon, resulting in a percentage loss on your investment equal to the percentage change in the lesser performing index from the strike date to the determination date (the index return) and you could lose all of your investment. The lesser performing index is the index with the lowest index return. Investing in the notes involves significant risks. You may lose a significant portion or all of your investment and may not receive any contingent coupon during the term of the notes. You will be exposed to the market risk of each index on each observation date, including the determination date, and any decline in the level of one index may negatively affect your return and will not be offset or mitigated by a lesser decline or any potential increase in the level of any other index. Generally, a higher contingent coupon on a note is associated with a greater risk of loss and a greater risk that you will not receive contingent coupons over the term of the notes. The contingent repayment of principal applies only at maturity. Any payment on the notes, including any repayment of principal, is subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc. Features Key Dates* Strike date March 23, 2026 O Potential for Periodic Contingent Coupons – Your notes will pay a contingent coupon on a coupon payment date only if the closing level of each index is equal to or greater than its coupon barrier on the applicable observation date (including the determination date). If, however, the closing level of any index is less than its coupon barrier on the applicable observation date, no contingent coupon will be paid for the relevant coupon payment date. O Automatic Call Feature – Commencing in September 2026, your notes will be automatically called and you will receive the face amount of your notes plus the contingent coupon otherwise due on the related coupon payment date if the closing level of each index is equal to or greater than its initial index level on any quarterly observation date. If the notes were previously automatically called, no further payments will be owed to you under the notes. O Contingent Repayment of Principal at Maturity with Potential for Full Downside Market Exposure – At maturity, if the notes have not been automatically called and the final index level of each index is equal to or greater than its downside threshold (which is the same as its coupon barrier), you will receive a payment equal to the face amount of your notes plus the final contingent coupon. If, however, the final index level of any index is less than its downside threshold, you will receive less than the face amount, if anything, and no contingent coupon, resulting in a percentage loss on your investment equal to the lesser performi

View Full Filing

View this 424B2 filing on SEC EDGAR