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

TL;DR

**GS Finance Corp. is gearing up to sell new securities, watch for details!**

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 from GS Finance Corp. and could impact the company's capital structure or funding costs, which in turn affects the parent company, Goldman Sachs Group Inc.

Why It Matters

This filing signals GS Finance Corp.'s intent to offer new securities, which could provide fresh capital for the company and new investment avenues for the public.

Risk Assessment

Risk Level: low — This is a routine prospectus filing for potential future offerings and does not inherently indicate immediate risk, but rather preparation for capital market activities.

Analyst Insight

Investors should monitor future filings from GS Finance Corp. for specific details on the type, size, and terms of the securities being offered, as this could present new investment opportunities or impact the company's financial leverage.

Key Numbers

• 424B2 — Form Type (Indicates a prospectus for a securities offering)
• 333-284538-03 — File Number for GS Finance Corp. (Unique identifier for GS Finance Corp.'s registration statement)
• 333-284538 — File Number for Goldman Sachs Group Inc. (Unique identifier for Goldman Sachs Group Inc.'s registration statement)
• 2026-03-24 — Filing Date (The date the 424B2 prospectus was filed)

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

Forward-Looking Statements

• GS Finance Corp. will announce specific terms for a new securities offering. (GS Finance Corp.) — medium confidence, target: Within 3-6 months of March 24, 2026
• The new offering will likely be debt instruments, given the nature of finance corporations. (GS Finance Corp.) — medium confidence, target: N/A

FAQ

Key Financial Figures

• $12,000,000 — s in U.S. Equities GS Finance Corp. $12,000,000 Contingent Income Buffered Auto-Callabl
• $1,000 — if any, the company will pay, for each $1,000 of the outstanding principal amount, an
• $53.62 — wnside factor) Initial share price: $53.62. The initial share price represents the
• $18.309 — to the buffer price, (i) the product of $18.309 times the number of coupon observation
• $0.00 — ion date is less than the buffer price, $0.00 CUSIP / ISIN: 40058YNF5 / US40058YN
• $995 — LLC Estimated value: approximately $995 per security. See page PS-3 for more in
• $12,000 — 00.00% of the principal amount 0.10% ($12,000 in total)* 99.90% ($11,988,000 in tot
• $11,988,000 — t 0.10% ($12,000 in total)* 99.90% ($11,988,000 in total) * Morgan Stanley Wealth Man
• $1.00 — g, will receive a selling concession of $1.00 for each security it sells. It has info
• $0.50 — that it intends to internally allocate $0.50 of the selling concession for each secu
• $5 — n additional amount (initially equal to $5 per $1,000 principal amount) The pric
• $4 — to the $5 initial additional amount: $4 will decline to zero on a straight-line
• $1 — f pricing through April 22, 2026; and $1 will decline to zero on a straight-line
• $100.00 — y Hypothetical initial share price: $100.00* Hypothetical buffer price: $70.00,
• $70 — $100.00* Hypothetical buffer price: $70.00, which is 70.00% of the initial shar

Filing Documents

• gs-20260324.htm (424B2) — 285KB
• gs_exfilingfees.htm (EX-FILING FEES) — 6KB
• img262706491_0.jpg (GRAPHIC) — 3KB
• img262706491_1.jpg (GRAPHIC) — 47KB
• img262706491_2.jpg (GRAPHIC) — 53KB
• img262706491_3.jpg (GRAPHIC) — 41KB
• img262706491_4.jpg (GRAPHIC) — 63KB
• 0001193125-26-121912.txt ( ) — 673KB
• gs_exfilingfees_htm.xml (XML) — 3KB

From the Filing

424B2 March 2026 Pricing Supplement filed pursuant to Rule 424(b)(2) dated March 20, 2026 / Registration Statement No. 333-284538 STRUCTURED INVESTMENTS Opportunities in U.S. Equities GS Finance Corp. $12,000,000 Contingent Income Buffered Auto-Callable Securities Based on the Performance of the Common Stock of Freeport-McMoRan Inc. due March 25, 2027 Principal at Risk Securities The securities are unsecured notes issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The amount that you will be paid on your securities is based on the performance of the common stock of Freeport-McMoRan Inc. The securities may be automatically called on any call observation date. Unless previously automatically called, on each coupon observation date (i) if the closing price of the underlying stock is less than the buffer price, you will not receive a payment on the applicable coupon payment date and (ii) if the closing price of the underlying stock is greater than or equal to the buffer price, you will receive on the applicable coupon payment date a contingent monthly coupon payment. Your securities will be automatically called if the closing price of the underlying stock on any call observation date is greater than or equal to the initial share price, resulting in a payment on the applicable call payment date equal to the principal amount of your securities plus the contingent monthly coupon then due. No payments will be made after the call payment date. At maturity, if not previously automatically called, (i) if the final share price is greater than or equal to the buffer price you will receive the principal amount of your securities plus the contingent monthly coupon then due and (ii) if the final share price is less than the buffer price, you will lose approximately 1.4286% of the stated principal amount for every 1% decline in the final share price from the initial share price beyond the buffer amount and you will not receive a contingent monthly coupon payment. Under these circumstances, the payment at maturity will be based on the share percent change. You will not participate in any appreciation of the underlying stock. The securities are for investors who seek to earn a contingent monthly coupon in exchange for the risk of receiving few or no contingent monthly coupons if the securities are automatically called and, if not automatically called, losing all or a portion of the principal amount of their securities at maturity. FINAL TERMS (continued on page PS-2) Company (Issuer) / Guarantor: GS Finance Corp. / The Goldman Sachs Group, Inc. Underlying stock: the common stock of Freeport-McMoRan Inc. (current Bloomberg ticker: “FCX UN”) Principal amount: $12,000,000 in the aggregate on the original issue date; the aggregate principal amount may be increased if the company, at its sole option, decides to sell an additional amount on a date subsequent to the pricing date. Subject to redemption by the company as provided under “— Automatic call feature” below, on the stated maturity date, in addition to the final contingent monthly coupon, if any, the company will pay, for each $1,000 of the outstanding principal amount, an amount, if any, in cash equal to the payment at maturity. Pricing date: March 20, 2026 Original issue date: March 25, 2026 Valuation date: the last coupon observation date, March 22, 2027, subject to adjustment as described in the accompanying general terms supplement March 25, 2027, subject to adjustment as described in the accompanying general terms supplement Payment at maturity: • if the final share price is greater than or equal to the buffer price, $1,000; or • if the final share price is less than the buffer price, $1,000 + ($1,000 × (the share percent change + the buffer amount) × the downside factor) Initial share price: $53.62. The initial share price represents the closing price of one share of the underlying stock on March 19, 2026 and is higher than the closing price of the underlying stock on the pricing date Buffer price: 70.00% of the initial share price Contingent monthly coupon: • if the closing price of the underlying stock on the applicable coupon observation date is greater than or equal to the buffer price, (i) the product of $18.309 times the number of coupon observation dates that have occurred up to and including the relevant coupon observation date minus (ii) the sum of all contingent monthly coupons previously paid, if any; or • if the closing price of the underlying stock on the applicable coupon observation date is less than the buffer price, $0.00 CUSIP / ISIN: 40058YNF5 / US40058YNF50 Underwriter: Goldman Sachs & Co. LLC Estimated value: approximately $995 per security. See page PS-3 for more information. Original issue price Underwriting discount Net proceeds to the issuer 100.00%

View Full Filing

View this 424B2 filing on SEC EDGAR