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

TL;DR

**GS Finance Corp. is prepping a new securities offering, likely debt, under Goldman Sachs' wing.**

AI Summary

GS Finance Corp. and Goldman Sachs Group Inc. filed a 424B2 prospectus on March 24, 2026, related to a previously filed registration statement (File No. 333-284538). This filing is a standard procedure for offering securities, indicating that GS Finance Corp. is likely preparing to issue new financial products, potentially debt or structured notes, under the umbrella of its parent, Goldman Sachs. For investors, this matters because it signals potential capital-raising activities or new investment opportunities, which could impact the company's financial structure and future earnings.

Why It Matters

This filing indicates GS Finance Corp., backed by Goldman Sachs, is preparing to offer new securities, which could affect the company's capital structure and provide new investment avenues for the market.

Risk Assessment

Risk Level: low — This is a routine prospectus filing for potential future offerings and does not inherently signal immediate financial distress or significant risk.

Analyst Insight

A smart investor would monitor subsequent filings from GS Finance Corp. or Goldman Sachs for the specific terms (e.g., interest rates, maturity dates, use of proceeds) of any securities offered under this prospectus, as these details will determine the investment's attractiveness and impact on the company.

Key Numbers

• 0001419828 — GS Finance Corp. CIK (Unique identifier for GS Finance Corp. in SEC filings)
• 0000886982 — Goldman Sachs Group Inc. CIK (Unique identifier for Goldman Sachs Group Inc. in SEC filings)
• 333-284538 — Registration Statement File No. (The primary registration statement under which these securities will be offered)
• 424B2 — Form Type (Indicates a prospectus for a shelf registration, typically for debt or structured products)

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
• 333-284538 (other) — File number for the underlying registration statement
• 2026-03-24 (date) — Filing date of the 424B2 prospectus

Forward-Looking Statements

• GS Finance Corp. will issue new debt or structured notes. (GS Finance Corp.) — medium confidence, target: Within 6 months of 2026-03-24
• The new offering will be underwritten by Goldman Sachs or its affiliates. (Goldman Sachs Group Inc.) — high confidence, target: Concurrent with the offering

FAQ

Key Financial Figures

• $7,357,000 — ent No. 333-284538 GS Finance Corp. $7,357,000 Trigger Autocallable Notes Linked to an
• $10 — ing such call observation date for each $10 face amount of your notes equal to the
• $9.54 — he trade date is equal to approximately $9.54 per $10 face amount. For a discussion o
• $0.41 — n additional amount (initially equal to $0.41 per $10 face amount). Prior to March
• $1,000 — hat may be purchased by any investor is $1,000. PS- 2 Investor Suitability The n
• $10.95 — rch 29, 2027 March 31, 2027 9.50% $10.95 June 21, 2027 June 23, 2027 11.87
• $11.1875 — ne 21, 2027 June 23, 2027 11.875% $11.1875 September 20, 2027 September 22, 20
• $11.425 — 0, 2027 September 22, 2027 14.25% $11.425 December 20, 2027 December 22, 2027
• $11.6625 M — 0, 2027 December 22, 2027 16.625% $11.6625 March 20, 2028 March 22, 2028 19.00%
• $11.90 — ch 20, 2028 March 22, 2028 19.00% $11.90 June 20, 2028 June 22, 2028 21.37
• $12.1375 — ne 20, 2028 June 22, 2028 21.375% $12.1375 September 20, 2028 September 22, 20
• $12.375 — 0, 2028 September 22, 2028 23.75% $12.375 December 20, 2028 December 22, 2028
• $12.6125 M — 0, 2028 December 22, 2028 26.125% $12.6125 March 20, 2029 March 22, 2029 28.50%
• $12.85 — ch 20, 2029 March 22, 2029 28.50% $12.85 June 20, 2029 June 22, 2029 30.87
• $13.0875 — ne 20, 2029 June 22, 2029 30.875% $13.0875 September 20, 2029 September 24, 20

Filing Documents

• gs-20260324.htm (424B2) — 504KB
• gs_exfilingfees.htm (EX-FILING FEES) — 5KB
• img262706491_0.jpg (GRAPHIC) — 26KB
• img262706491_1.gif (GRAPHIC) — 1KB
• img262706491_2.gif (GRAPHIC) — 1KB
• img262706491_3.jpg (GRAPHIC) — 57KB
• img262706491_4.jpg (GRAPHIC) — 55KB
• img262706491_5.jpg (GRAPHIC) — 47KB
• img262706491_6.jpg (GRAPHIC) — 53KB
• img262706491_7.jpg (GRAPHIC) — 50KB
• img262706491_8.jpg (GRAPHIC) — 57KB
• img262706491_9.jpg (GRAPHIC) — 7KB
• 0001193125-26-121858.txt ( ) — 1094KB
• 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. $7,357,000 Trigger Autocallable Notes Linked to an Unequally Weighted Basket of Equity Indices due 2031 guaranteed by The Goldman Sachs Group, Inc. Investment Description The amount you will be paid on your notes is based on the performance of an unequally weighted basket comprised of the EURO STOXX 50 Index (40.00% weighting), the Nikkei 225 (25.00% weighting), the FTSE 100 Index (17.50% weighting), the Swiss Market Index (10.00% weighting) and the S&P/ASX 200 Index (7.50% weighting). The notes are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The notes will mature on the stated maturity date unless they are automatically called on any call observation date (quarterly, including the determination date). The initial basket level is 100 and the closing level of the basket on any call observation date and the determination date, as applicable, will equal the sum of the products , as calculated for each basket index, of: (i) its closing level on the applicable call observation date or the determination date, as applicable divided by its initial basket index level (the closing level of such basket index on the trade date, except that, due to a non-trading day for the Nikkei 225 on the trade date, its initial basket index level is its closing level on its first trading day following the trade date (March 23, 2026)) multiplied by (ii) its initial weighted value. Your notes will be automatically called if the closing level of the basket on any call observation date is greater than or equal to the autocall barrier, resulting in a payment on the applicable call payment date following such call observation date for each $10 face amount of your notes equal to the face amount per note plus the product of $10 times the applicable call return, and no further payments will be owed to you under the notes. The call return increases the longer the notes are outstanding. If the notes are not automatically called and the closing level of the basket on the determination date (the final basket level) is greater than or equal to the downside threshold, you will receive the face amount of your notes at maturity. If, however, the notes are not automatically called and the final basket level is less than the downside threshold, you will receive less than the face amount of your notes, resulting in a percentage loss on your investment equal to the percentage change in the basket from the trade date to the determination date (the basket return) and you could lose all of your investment. Declines in one basket index may offset increases in the other basket indices. Due to the unequal weighting of each basket index, the performances of the basket indices with greater weights will have a significantly larger impact on the return on your notes than the performances of the basket indices with lesser weights. Investing in the notes 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 notes. Higher call returns are generally associated with a greater risk of loss and a greater risk that the notes will not be automatically called. 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 O Automatic Call Feature – Your notes will be automatically called and you will receive the face amount of your notes plus the product of $10 times the applicable call return on the related call payment date if the closing level of the basket is greater than or equal to the autocall barrier on a call observation date. The call return increases the longer the notes are outstanding. 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 basket level is greater than or equal to the downside threshold, you will receive a payment equal to the face amount of your notes. If, however, the final basket level is less than the downside threshold, you will receive less than the face amount of your notes, if anything, resulting in a percentage loss on your investment equal to the basket return. You may lose your entire investment. The contingent repayment of principal applies only if you hold the notes to 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. Trade date March 20, 2026 Original issue date March 25, 2026 Call observation dates* Quarterly (beginning after 12 months) (see p

View Full Filing

View this 424B2 filing on SEC EDGAR