GS Finance Corp. Files 424B2 Prospectus for Securities Offering

TL;DR

**GS Finance Corp. just filed a prospectus to sell more securities, watch for potential dilution or growth funding.**

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 the offering of securities. It updates information for potential investors, allowing GS Finance Corp. to continue raising capital. For investors, this means GS Finance Corp. is actively seeking to fund its operations or expand, which could impact future earnings and stock performance depending on how the raised capital is utilized.

Why It Matters

This filing indicates GS Finance Corp. is preparing to issue new securities, which could dilute existing shares or provide capital for growth, directly impacting shareholder value.

Risk Assessment

Risk Level: medium — The offering of new securities can lead to dilution for existing shareholders, but also provides capital that could be used for growth, creating a mixed risk profile.

Analyst Insight

Investors should monitor subsequent filings for details on the specific terms of the securities offering (e.g., type of security, amount, pricing) to assess potential dilution or growth prospects for GS Finance Corp. and Goldman Sachs Group Inc.

Key Numbers

• 2026-03-24 — Filing Date (Date the 424B2 prospectus was filed and accepted by the SEC.)
• 333-284538 — File No. for Goldman Sachs Group Inc. (SEC file number associated with Goldman Sachs Group Inc.'s registration statement.)
• 333-284538-03 — File No. for GS Finance Corp. (SEC file number associated with GS Finance Corp.'s registration statement.)
• 600368 — Size of 424B2 document (Indicates the length of the primary prospectus document in bytes.)

Key Players & Entities

• GS Finance Corp. (company) — Filer of the 424B2 prospectus
• Goldman Sachs Group Inc. (company) — Parent company and co-filer
• March 24, 2026 (date) — Filing and acceptance date of the 424B2
• 200 WEST STREET NEW YORK NY 10282 (address) — Business and mailing address for both filers
• 0001419828 (number) — CIK for GS Finance Corp.
• 0000886982 (number) — CIK for Goldman Sachs Group Inc.

Forward-Looking Statements

• GS Finance Corp. will proceed with an offering of securities in the near future. (GS Finance Corp.) — high confidence, target: 2026-06-24
• The capital raised from this offering will be used to fund general corporate purposes or specific growth initiatives. (GS Finance Corp.) — medium confidence, target: 2027-03-24

FAQ

Key Financial Figures

• $1,000,000 — nt No. 333- 284538 GS Finance Corp. $1,000,000 Autocallable Basket-Linked Notes due
• $205.37 — ided by its initial basket stock price ($205.37 with respect to the common stock of Ama
• $298.79 — o the common stock of Amazon.com, Inc., $298.79 with respect to the Class C capital sto
• $381.87 — Class C capital stock of Alphabet Inc., $381.87 with respect to the common stock of Mic
• $172.70 — common stock of Microsoft Corporation, $172.70 with respect to the common stock of NVI
• $367.96 — common stock of NVIDIA Corporation and $367.96 with respect to the common stock of Tes
• $1,000 — orresponding call payment date for each $1,000 face amount of your notes equal to (i)
• $1,490 — or equal to the initial basket level), $1,490; ● if the basket return is neg
• $918 — he trade date is equal to approximately $918 per $1,000 face amount. For a discussio
• $40.75 — n additional amount (initially equal to $40.75 per $1,000 face amount). Prior to Jun
• $298.79 M — he Nasdaq Stock Market LLC 20% 20 $298.79 Microsoft Corporation MSFT UW Common

Filing Documents

• gs-20260324.htm (424B2) — 586KB
• gs_exfilingfees.htm (EX-FILING FEES) — 6KB
• img262706491_0.jpg (GRAPHIC) — 26KB
• img262706491_1.jpg (GRAPHIC) — 56KB
• img262706491_2.jpg (GRAPHIC) — 57KB
• img262706491_3.jpg (GRAPHIC) — 56KB
• img262706491_4.jpg (GRAPHIC) — 50KB
• img262706491_5.jpg (GRAPHIC) — 62KB
• img262706491_6.jpg (GRAPHIC) — 53KB
• img262706491_7.jpg (GRAPHIC) — 7KB
• 0001193125-26-121587.txt ( ) — 1192KB
• 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. $1,000,000 Autocallable Basket-Linked Notes due 2031 guaranteed by The Goldman Sachs Group, Inc. The notes do not bear interest. The amount that you will be paid on your notes is based on the performance of an equally weighted basket comprised of the common stock of Amazon.com, Inc., the Class C capital stock of Alphabet Inc., the common stock of Microsoft Corporation, the common stock of NVIDIA Corporation and the common stock of Tesla, Inc. (the basket stocks). Each basket stock has an initial weighting of 20% and an initial weighted value of 20. The notes will mature on the stated maturity date (March 27, 2031), unless they are automatically called on any call observation date commencing on March 22, 2027. The initial basket level is 100 and the closing level of the basket on any call observation date and on the determination date (March 20, 2031), as applicable, will equal the sum of the products , as calculated for each basket stock, of: (i) its closing price on the applicable call observation date or determination date, as applicable, divided by its initial basket stock price ($205.37 with respect to the common stock of Amazon.com, Inc., $298.79 with respect to the Class C capital stock of Alphabet Inc., $381.87 with respect to the common stock of Microsoft Corporation, $172.70 with respect to the common stock of NVIDIA Corporation and $367.96 with respect to the common stock of Tesla, Inc. (which in each case is an intra-day price or the closing price of one share of such basket stock on the trade date (March 20, 2026))) multiplied by (ii) its initial weighted value. Your notes will be automatically called on a call observation date if the closing level of the basket on such date is greater than or equal to the initial basket level, resulting in a payment on the corresponding call payment date for each $1,000 face amount of your notes equal to (i) $1,000 plus (ii) the product of $1,000 times the applicable call premium amount. The call observation dates, the call payment dates and the applicable call premium amount for each call payment date are specified on page S- 5 of this prospectus supplement. If your notes are not automatically called on any call observation date, we will calculate the basket return, which is the percentage increase or decrease in the closing level of the basket on the determination date (the final basket level) from the initial basket level. At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to: ● if the basket return is positive or zero (the final basket level is greater than or equal to the initial basket level), $1,490; ● if the basket return is negative but not below -40% (the final basket level is less than the initial basket level, but not by more than 40%), $1,000; or ● if the basket return is negative and is below -40% (the final basket level is less than the initial basket level, by more than 40%), the sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) the basket return. You will receive less than 60% of the face amount of your notes. Declines in one basket stock may offset increases in the other basket stocks. 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 S-23. The estimated value of your notes at the time the terms of your notes are set on the trade date is equal to approximately $918 per $1,000 face amount. For a discussion of the estimated value and the price at which Goldman Sachs & Co. LLC would initially buy or sell your notes, if it makes a market in the notes, see the following page. Original issue date: March 25, 2026 Original issue price: 100% of the face amount Underwriting discount: 4.125% of the face amount* Net proceeds to the issuer: 95.875% of the face amount * See “Supplemental Plan of Distribution” on page S- 46 for additional information regarding the fees comprising 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 Prospectus Supplement No. 23,216 dated March 20, 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 prospectus supplement, at issue prices and with underwriting discounts and net proceeds that differ from t

View Full Filing

View this 424B2 filing on SEC EDGAR