GS Finance Corp. Files 424B2 Prospectus for Securities Offering

TL;DR

**GS Finance Corp. just filed a prospectus, likely gearing up to sell more securities.**

AI Summary

GS Finance Corp. filed a 424B2 prospectus on March 24, 2026, detailing an offering under the registration statement 333-284538-03. This filing is a standard procedure for offering securities and is related to its parent company, The Goldman Sachs Group Inc. (CIK: 0000886982). For investors, this matters because it indicates GS Finance Corp. is actively raising capital, which could be used for various corporate purposes, potentially impacting future growth or debt obligations.

Why It Matters

This filing signals GS Finance Corp. is preparing to issue new securities, which could dilute existing shareholders or increase the company's debt, depending on the type of offering.

Risk Assessment

Risk Level: medium — The filing itself is routine, but the underlying offering could introduce dilution or alter the company's financial structure, posing a medium risk.

Analyst Insight

Investors should monitor subsequent filings from GS Finance Corp. to understand the specific terms (e.g., type of security, amount, pricing) of the offering, as this will determine the potential impact on existing shares or the company's financial health.

Key Numbers

• 333-284538-03 — Registration Statement File No. (This is the specific registration statement under which GS Finance Corp. is offering securities.)
• 2026-03-24 — Filing Date (This is when the 424B2 prospectus was officially filed with the SEC.)
• 0001419828 — GS Finance Corp. CIK (This unique identifier allows investors to track all filings related to GS Finance Corp.)
• 0000886982 — Goldman Sachs Group Inc. CIK (This unique identifier allows investors to track all filings related to the parent company.)

Key Players & Entities

• GS Finance Corp. (company) — the filer of the 424B2 prospectus
• The Goldman Sachs Group Inc. (company) — the parent company of GS Finance Corp.
• 2026-03-24 (date) — the filing date of the 424B2 prospectus
• 333-284538-03 (dollar_amount) — the file number for GS Finance Corp.'s registration statement
• 0001419828 (dollar_amount) — the CIK for GS Finance Corp.

Forward-Looking Statements

• GS Finance Corp. will proceed with a securities offering in the near future. (GS Finance Corp.) — high confidence, target: 2026-06-30

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
• $18.542 — or equal to the coupon trigger level: ($18.542 × the number of coupon observatio
• $0 — is less than the coupon trigger level: $0 Company's redemption right: The com
• $0.000 — 1 70.000% $18.542 2 50.000% $0.000 3 70.000% $37.084 4 40.000%
• $37.084 — 2 50.000% $0.000 3 70.000% $37.084 4 40.000% $0.000 5 40.000%
• $55.626 — 5 40.000% $0.000 6 70.000% $55.626 7 40.000% $0.000 8 30.000%
• $111.252 — $0.000 Total Hypothetical Coupons $111.252 In Scenario 1, the hypothetical closi

Filing Documents

• pltr0002_prelim.htm (424B2) — 232KB
• img8730160_0.jpg (GRAPHIC) — 4KB
• img8730160_1.jpg (GRAPHIC) — 49KB
• 0001193125-26-121975.txt ( ) — 308KB

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 Equity-Linked Notes due 2028 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. 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 the underlier is greater than or equal to the 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 July 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 is greater than or equal to the trigger buffer level: $1,000; or • if the final underlier level is less than the trigger buffer level: $1,000 + ($1,000 × the underlier return) Underlier: the Class A common stock of Palantir Technologies Inc. (current Bloomberg ticker: “PLTR UW”) Coupon trigger level: 60% of the initial underlier level Trigger buffer level: 60% of the initial underlier level Initial underlier level: set on the trade date and will be an intra-day level or the closing level of the underlier on the trade date Final underlier level: the closing level of the underlier on the determination date* Underlier return: (the final underlier level - the initial underlier level) ÷ the initial underlier level Calculation agent: Goldman Sachs & Co. LLC (“GS&Co.”) CUSIP / ISIN: 40058YQ88 / US40058YQ881 * 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 % of the face amount % of the face amount 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 the underlier on the related coupon observation date is greater than or equal to the coupon trigger level: ($18.542 × the number of coupon observation dates that have occurred up to and including such related coupon observation date) – (the sum of all coupons previously paid, if any); or • if the closing level of the underlier on the related coupon observation date is less than the 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 July 2026 and ending in March 2028, subject to at least three business days’ prior notice to the holder of your notes and the trustee. In that case, the company will pay, for each $1,000 of the outstanding face amount, an amount in cash on the following coupon payment date equal to $1,000 (along with the coupon then due, if any). Trade date: March 30, 2026 Original issue date: April 2, 2026 Determination date: the last coupon observation date, March 29, 2028* April 3, 2028* Coupon observation dates* Coupon payment dates* April 29, 2026 May 4, 2026 May 28, 2026 June 2, 2026 June 29, 2026 July 2, 2026 July 29

View Full Filing

View this 424B2 filing on SEC EDGAR