GS Finance Corp. Files 424B2 Prospectus for Securities Offering

TL;DR

**GS Finance Corp. just filed a prospectus for future securities offerings, keep an eye on Goldman Sachs' capital plans.**

AI Summary

This 424B2 filing, submitted on March 24, 2026, by GS Finance Corp. and its parent, Goldman Sachs Group Inc., is a prospectus related to a previously filed registration statement (File No. 333-284538). It updates information for potential investors regarding securities that GS Finance Corp. may offer. For current or prospective shareholders of Goldman Sachs Group Inc., this filing indicates ongoing capital market activities and potential future offerings, which could impact the company's funding structure and overall financial health.

Why It Matters

This filing updates investors on potential future securities offerings by GS Finance Corp., which could affect Goldman Sachs Group Inc.'s capital structure and liquidity.

Risk Assessment

Risk Level: medium — While a prospectus itself isn't inherently high-risk, it signals potential future debt or equity offerings which can dilute existing shares or increase leverage.

Analyst Insight

Investors should monitor future announcements from GS Finance Corp. and Goldman Sachs Group Inc. for details on specific offerings, as these could impact share price or yield.

Key Numbers

• 327564 — Size of 424B2 HTML document (Indicates the length and detail of the prospectus document.)
• 2026-03-24 — Filing Date (The date the prospectus was officially submitted to the SEC.)
• 333-284538 — Registration Statement File No. (The primary registration statement under which these securities may be offered.)

Key Players & Entities

• GS Finance Corp. (company) — Filer of the 424B2 prospectus
• Goldman Sachs Group Inc. (company) — Parent company and co-filer of the registration statement
• 2026-03-24 (date) — Filing and acceptance date of the 424B2
• 333-284538 (dollar_amount) — File number for the underlying registration statement
• 0001419828 (dollar_amount) — CIK for GS Finance Corp.

Forward-Looking Statements

• GS Finance Corp. will likely issue new securities within the next 12 months. (GS Finance Corp.) — medium confidence, target: 2027-03-24

FAQ

Key Financial Figures

• $3,350,000 — ent No. 333-284538 GS Finance Corp. $3,350,000 Trigger GEARS due 2031 guaranteed by
• $9.58 — he trade date is equal to approximately $9.58 per $10 face amount. For a discussion o
• $10 — ate is equal to approximately $9.58 per $10 face amount. For a discussion of the es
• $0.37 — n additional amount (initially equal to $0.37 per $10 face amount). Prior to Septem
• $1,000 — hat may be purchased by any investor is $1,000. PS- 2 Investor Suitability The s

Filing Documents

• gs-20260324.htm (424B2) — 320KB
• gs_exfilingfees.htm (EX-FILING FEES) — 6KB
• img262706491_0.jpg (GRAPHIC) — 26KB
• img262706491_1.jpg (GRAPHIC) — 82KB
• img262706491_2.jpg (GRAPHIC) — 57KB
• img262706491_3.jpg (GRAPHIC) — 58KB
• img262706491_4.jpg (GRAPHIC) — 54KB
• img262706491_5.jpg (GRAPHIC) — 7KB
• 0001193125-26-121461.txt ( ) — 811KB
• gs_exfilingfees_htm.xml (XML) — 3KB

From the Filing

424B2 Filed pursuant to Rule 424(b)(2) / Registration Statement No. 333-284538 GS Finance Corp. $3,350,000 Trigger GEARS due 2031 guaranteed by The Goldman Sachs Group, Inc. Linked to the least performing of the Russell 2000 Index and the S&P 500 Index Investment Description The amount you will be paid on your securities is based on the performance of the least performing of the Russell 2000 Index and the S&P 500 Index. The securities are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. If the closing level of each index on the determination date (the final index level) is greater than its initial index level, then the return on your securities will be positive and equal the product of the index return of the lesser performing index (the percentage increase or decrease in its final index level from its initial index level) multiplied by the upside gearing. If the final index level of any index is equal to or less than its initial index level but the final index level of each index is greater than or equal to its downside threshold, you will receive the face amount of your securities at maturity. If the final index level of any index is less than its downside threshold, you will receive less than the face amount of your securities, resulting in a percentage loss on your investment equal to the lesser performing 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 securities involves significant risks. You may lose a significant portion or all of your investment. You will be exposed to the market risk of each index on 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. The contingent repayment of principal applies only at maturity. Any payment on the securities, including any repayment of principal, is subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc. Features Key Dates o Enhanced Exposure to Positive Index Return of Lesser Performing Index – At maturity, the securities provide exposure to any positive index return of the lesser performing index times the upside gearing. o Contingent Repayment of Principal at Maturity with Potential for Full Downside Market Exposure – At maturity, if the final index level of any index is equal to or less than its initial index level but the final index level of each index is greater than or equal to its downside threshold, you will receive a payment equal to the face amount of your securities. If, however, the final index level of any index is less than its downside threshold, you will receive less than the face amount of your securities, if anything, resulting in a percentage loss on your investment equal to the lesser performing index return. You may lose your entire investment. The contingent repayment of principal applies only if you hold the securities to maturity. Any payment on the securities, including any repayment of principal, is subject to the creditworthiness of GS Finance Corp. and The Goldman Sachs Group, Inc. Trade date March 20, 2026 Original issue date March 25, 2026 Determination date* March 20, 2031 March 25, 2031 *Subject to postponement. Notice to investors: the securities are a riskier investment than ordinary debt securities. GS Finance Corp. is not necessarily obligated to repay the face amount of the securities at maturity, and the securities may have the same downside market risk as the indices. This market risk is in addition to the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. You should not purchase the securities if you do not understand or are not comfortable with the significant risks involved in investing in the securities. 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- 10 . Key Terms Index Bloomberg Symbol Initial Index Level Upside Gearing Downside Threshold CUSIP ISIN Russell 2000 Index RTY Index 2,438.451 1.40 75.00% of its initial index level 36273Y158 US36273Y1588 S&P 500 Index SPX Index 6,506.48 75.00% of its initial index level The estimated value of your securities at the time the terms of your securities are set on the trade date is equal to approximately $9.58 per $10 face amount. For a discussion of the estimated value and the price at which Goldman Sachs & Co. LLC would initially buy or sell your securities, if it makes a market in the securities, see page PS-2. Original issue price Underwriting discount Net proceeds to the issuer 100.00% of the face amount 3.50% of the face amount 96.50% of the face amount Neither the Securities

View Full Filing

View this 424B2 filing on SEC EDGAR