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

TL;DR

**GS Finance Corp. is gearing up to issue new securities, watch for details on what they're selling!**

AI Summary

This 424B2 filing, submitted on March 24, 2026, by GS Finance Corp. (CIK: 0001419828) and Goldman Sachs Group Inc. (CIK: 0000886982), is a prospectus related to an offering of securities. It updates investors on the terms of a potential offering under their existing shelf registration statement (File No. 333-284538). This matters to current and potential investors because it signals that GS Finance Corp. is preparing to raise capital, which could impact the company's financial structure and future growth prospects, potentially diluting existing shareholders or increasing debt obligations depending on the nature of the securities offered.

Why It Matters

This filing indicates GS Finance Corp. is preparing to issue new securities, which could affect the company's capital structure, potentially impacting share value or future earnings for investors.

Risk Assessment

Risk Level: medium — The risk is medium because while raising capital can be beneficial, the specific terms of the securities (e.g., debt vs. equity) are not detailed in this summary, and could introduce dilution or increased leverage.

Analyst Insight

Investors should monitor subsequent filings (e.g., pricing supplements) from GS Finance Corp. to understand the specific terms of the securities being offered, as this will determine the impact on existing shareholders and the company's financial health.

Key Numbers

• 2026-03-24 — Filing Date (Date the 424B2 prospectus was filed by GS Finance Corp. and Goldman Sachs Group Inc.)
• 333-284538 — File Number (The registration statement under which these securities are being offered, indicating a prior intent to issue various types of securities.)

Key Players & Entities

• GS Finance Corp. (company) — Filer of the 424B2 prospectus
• Goldman Sachs Group Inc. (company) — Parent company and co-filer of the 424B2 prospectus
• March 24, 2026 (date) — Filing date of the 424B2
• 0001419828 (person) — CIK for GS Finance Corp.
• 0000886982 (person) — CIK for Goldman Sachs Group Inc.
• 333-284538 (person) — File number for the registration statement

Forward-Looking Statements

• GS Finance Corp. will announce the specific terms (e.g., type, amount, price) of the securities offering within the next few weeks. (GS Finance Corp.) — medium confidence, target: 2026-04-30

FAQ

Key Financial Figures

• $3,160,000 — ent No. 333-284538 GS Finance Corp. $3,160,000 Trigger Autocallable GEARS Linked to th
• $10 — yment on the call payment date for each $10 face amount of your securities equal to
• $9.74 — he trade date is equal to approximately $9.74 per $10 face amount. For a discussion o
• $0.21 — n additional amount (initially equal to $0.21 per $10 face amount). Prior to June 2
• $1,000 — hat may be purchased by any investor is $1,000. PS- 2 Investor Suitability The s

Filing Documents

• gs-20260324.htm (424B2) — 328KB
• gs_exfilingfees.htm (EX-FILING FEES) — 6KB
• img262706491_0.jpg (GRAPHIC) — 26KB
• img262706491_1.gif (GRAPHIC) — 1KB
• img262706491_2.gif (GRAPHIC) — 1KB
• img262706491_3.gif (GRAPHIC) — 1KB
• img262706491_4.jpg (GRAPHIC) — 71KB
• img262706491_5.jpg (GRAPHIC) — 53KB
• img262706491_6.jpg (GRAPHIC) — 7KB
• 0001193125-26-121621.txt ( ) — 649KB
• 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. $3,160,000 Trigger Autocallable GEARS Linked to the Nasdaq-100 Index due 2031 guaranteed by The Goldman Sachs Group, Inc. Investment Description The amount you will be paid on your securities is based on the performance of the Nasdaq-100 Index . The securities are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The securities will mature on the stated maturity date unless they are automatically called on the call observation date. Unless your securities are automatically called, if the closing level of the index on the determination date (the final index level) is greater than the initial index level (set on the strike date), then the return on your securities will be positive and equal the product of the upside gearing times the index return (the percentage increase or decrease in the final index level from the initial index level). If the final index level is equal to or less than the initial index level but greater than or equal to the downside threshold, you will receive the face amount of your securities at maturity. If the final index level is less than the downside threshold, you will receive less than the face amount of your securities, resulting in a percentage loss on your investment equal to the index return and you could lose all of your investment. Your securities will be automatically called if the closing level of the index on the call observation date is greater than or equal to the autocall barrier, resulting in a payment on the call payment date for each $10 face amount of your securities equal to the face amount per security plus the product of $10 times the call return specified below. Investing in the securities involves significant risks. You may lose a significant portion or all of your investment and will not receive any coupon during the term of the securities. 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 Automatic Call Feature – Your securities will be automatically called and you will receive the face amount of your securities plus the product of $10 times the call return on the call payment date if the closing level of the index is greater than or equal to the autocall barrier on the call observation date. O Enhanced Exposure to Positive Index Return – At maturity, if the securities have not been automatically called and the final index level is greater than the initial index level, you will receive a payment equal to the face amount of your securities plus a return equal to the index return times the upside gearing. O Contingent Repayment of Principal at Maturity with Potential for Full Downside Market Exposure – At maturity, if the securities have not been automatically called and the final index level is equal to or less than the initial index level but greater than or equal to the downside threshold, you will receive a payment equal to the face amount of your securities. If, however, the final index level is less than the 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 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. Strike date March 19, 2026 Trade date March 20, 2026 Original issue date March 25, 2026 Call observation date* March 29, 2027 Call payment date* March 31, 2027 Determination date* March 19, 2031 March 24, 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 index. 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- 11 . Key Terms Index Bloomberg Symbol Initial Index Level* Autocall Barrier Upside Gearing Downside Threshold Call Return CUSIP ISIN Nasdaq-100 Index NDX Index 24,355.28 100.00% of the initial index level 1.72 75.00% o

View Full Filing

View this 424B2 filing on SEC EDGAR