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

TL;DR

**GS Finance Corp. is prepping to issue new securities, likely to raise capital or offer new products.**

AI Summary

GS Finance Corp., a subsidiary of Goldman Sachs Group Inc., filed a 424B2 prospectus on March 24, 2026. 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 or a way for the company to raise capital, which could impact its financial structure and future growth prospects.

Why It Matters

This filing signals GS Finance Corp.'s intent to offer new securities, which could provide capital for growth or new investment products for clients.

Risk Assessment

Risk Level: low — A 424B2 filing is a routine prospectus for offering securities and does not inherently indicate high risk, though the specific terms of the offering would determine actual risk.

Analyst Insight

Investors should monitor subsequent filings from GS Finance Corp. for specific details on the type, size, and terms of the securities being offered, as this will determine potential investment opportunities or impacts on existing holdings.

Key Numbers

• 333-284538 — File Number (SEC registration number for the offering)
• 2026-03-24 — Filing Date (Date the 424B2 prospectus was filed)
• 15:22:03 — Accepted Time (Time the filing was accepted by the SEC)

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 (person) — CIK for GS Finance Corp.
• 0000886982 (person) — CIK for Goldman Sachs Group Inc.

Forward-Looking Statements

• GS Finance Corp. will issue new debt or equity securities. (GS Finance Corp.) — high confidence, target: Within 6 months of filing date

FAQ

Key Financial Figures

• $1,000 — hen due, the company will pay, for each $1,000 face amount of the notes, an amount in
• $925 — amount / Additional amount end date: $925 to $955 per $1,000 face amount, which i
• $955 — / Additional amount end date: $925 to $955 per $1,000 face amount, which is less t
• $9.167 — n or equal to its coupon trigger level: $9.167 (0.9167% monthly, or the potential for
• $0 — is less than its coupon trigger level: $0 Company's redemption right: The com
• $0.000 — 7 2 60.000% 140.000% 140.000% $0.000 3 75.000% 80.000% 77.000% $9.
• $27.501 — $0.000 Total Hypothetical Coupons $27.501 In Scenario 1, the hypothetical closi

Filing Documents

• wonrs643_auto_prelim.htm (424B2) — 296KB
• img87275356_0.jpg (GRAPHIC) — 4KB
• img87275356_1.jpg (GRAPHIC) — 53KB
• img87275356_2.jpg (GRAPHIC) — 57KB
• img87275356_3.jpg (GRAPHIC) — 58KB
• 0001193125-26-121618.txt ( ) — 536KB

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. $ Callable Contingent Coupon Index-Linked Notes due 2029 guaranteed by The Goldman Sachs Group, Inc. Payment at Maturity: The amount that you will be paid on your notes at maturity, if they have not been redeemed by us, in addition to the final coupon, if any, is based on the performance of the underlier with the lowest underlier return. You could lose your entire investment in the notes. Coupon Payments: The notes will pay a contingent monthly coupon on a coupon payment date if the closing level of each underlier is greater than or equal to its coupon trigger level on the related coupon observation date. Company's Redemption Right: Prior to the stated maturity date, we may redeem your notes at our option on any coupon payment date commencing in October 2026. 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-8. Key Terms Company (Issuer) / Guarantor: GS Finance Corp. / The Goldman Sachs Group, Inc. Aggregate face amount: $ Cash settlement amount: • if the final underlier level of each underlier is greater than or equal to its trigger buffer level: $1,000; or • if the final underlier level of any underlier is less than its trigger buffer level: $1,000 + ($1,000 × the lesser performing underlier return) Underliers: the Nasdaq-100 Index (current Bloomberg symbol: “NDX Index”), the Russell 2000 Index (current Bloomberg symbol: “RTY Index”) and the S&P 500 Index (current Bloomberg symbol: “SPX Index”) Coupon trigger level: for each underlier, 70% of its initial underlier level Trigger buffer level: for each underlier, 60% of its initial underlier level Initial underlier level: with respect to an underlier, an intra-day level or the closing level of such underlier on the trade date Final underlier level: with respect to an underlier, the closing level of such underlier on the determination date* Underlier return: with respect to an underlier: (its final underlier level - its initial underlier level) ÷ its initial underlier level Lesser performing underlier return: the underlier return of the lesser performing underlier (the underlier with the lowest underlier return) Calculation agent: Goldman Sachs & Co. LLC (“GS&Co.”) CUSIP / ISIN: 40058YQJ4 / US40058YQJ46 * 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: $925 to $955 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 % of the face amount 1 % of the face amount 1 The original issue price will be % for certain investors; see Supplemental Plan of Distribution; Conflicts of Interest 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 Pricing Supplement No. dated , 2026. Key Terms (continued) Coupon: • if the closing level of each underlier on the related coupon observation date is greater than or equal to its coupon trigger level: $9.167 (0.9167% monthly, or the potential for up to approximately 11.00% per annum); or • if the closing level of any underlier on the related coupon observation date is less than its coupon trigger level: $0 Company's redemption right: The company may redeem the notes, at its option, in whole but not in part, on each coupon payment date commencing in October 2026 and ending in March 2029, subject to at least five business days’ prior n

View Full Filing

View this 424B2 filing on SEC EDGAR