GS Finance Corp. Files 424B2 Prospectus for Securities Offering

TL;DR

**GS Finance Corp. is prepping a new securities offering, watch for details on what they're selling.**

AI Summary

This 424B2 filing from GS Finance Corp., a subsidiary of Goldman Sachs Group Inc., is a prospectus related to the offering of securities. It indicates that GS Finance Corp. (CIK: 0001419828) and its parent, Goldman Sachs Group Inc. (CIK: 0000886982), are involved in a securities offering under File No. 333-284538. This matters to investors because it signals potential capital-raising activities, which could impact the company's financial structure and future growth prospects, potentially diluting existing shareholders or increasing debt, depending on the nature of the securities offered.

Why It Matters

This filing signals that GS Finance Corp., backed by Goldman Sachs, is preparing to issue new securities, which could affect the company's capital structure and potentially impact shareholder value.

Risk Assessment

Risk Level: medium — The risk level is medium because a securities offering can introduce dilution or increase debt, but the specific terms are not detailed in this summary filing.

Analyst Insight

Investors should monitor subsequent filings (like pricing supplements or final prospectuses) to understand the specific terms, type, and quantity of securities being offered by GS Finance Corp., as this will determine the impact on existing shareholders or debt levels.

Key Numbers

• 333-284538 — Registration Statement File No. (Indicates the overarching registration under which these securities are offered.)
• 2026-03-24 — Filing Date (The date the 424B2 prospectus was filed with the SEC.)
• 0001419828 — GS Finance Corp. CIK (Unique identifier for GS Finance Corp. with the SEC.)
• 0000886982 — Goldman Sachs Group Inc. CIK (Unique identifier for the parent company with the SEC.)

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
• 0001419828 (person) — CIK for GS Finance Corp.
• 0000886982 (person) — CIK for Goldman Sachs Group Inc.
• 333-284538 (person) — File number for the registration statement
• 2026-03-24 (person) — Filing date of the 424B2

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

• $660,000 — ent No. 333-284538 GS Finance Corp. $660,000 Autocallable Contingent Coupon S&P 500
• $1,000 — plicable payment date a coupon for each $1,000 face amount of your notes equal to $12.
• $12.375 — ,000 face amount of your notes equal to $12.375 (1.2375% monthly, or the potential for
• $966 — he trade date is equal to approximately $966 per $1,000 face amount. For a discussio
• $21.50 — n additional amount (initially equal to $21.50 per $1,000 face amount). Prior to Mar
• $0 — is less than the coupon trigger level, $0 PS-6 The coupon paid on any coupon p

Filing Documents

• dp244021_424b2-sparc030.htm (424B2) — 265KB
• dp244021_exfilingfees.htm (EX-FILING FEES) — 5KB
• image_001.jpg (GRAPHIC) — 2KB
• image_002.jpg (GRAPHIC) — 20KB
• image_003.jpg (GRAPHIC) — 16KB
• image_004.jpg (GRAPHIC) — 2KB
• 0000950103-26-004592.txt ( ) — 418KB
• dp244021_exfilingfees_htm.xml (XML) — 2KB

From the Filing

Filed Pursuant to Rule 424(b)(2) Registration Statement No. 333-284538 GS Finance Corp. $660,000 Autocallable Contingent Coupon S&P 500 ® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER-Linked Notes due 2031 guaranteed by The Goldman Sachs Group, Inc. If the closing level of the S&P 500 ® Futures 40% VT Adaptive Response 6% Decrement Index (USD) ER on any observation date is less than 50% of the initial underlier level, you will not receive a coupon on the applicable payment date. The amount that you will be paid on your notes is based on the performance of the index. The notes will mature on the stated maturity date (March 25, 2031), unless automatically called on any observation date commencing in March 2027 to and including February 2031. Your notes will be automatically called if the closing level of the index on any such observation date is greater than or equal to the initial underlier level of 394.46 (which is the closing level of the index on the trade date (March 20, 2026)). If your notes are automatically called, you will receive a payment on the next payment date (the third business day after the relevant observation date) equal to the face amount of your notes plus a coupon (as described below). Observation dates are the 20th day of each month, commencing in April 2026 and ending in March 2031. If on any observation date the closing level of the index is greater than or equal to 50% of the initial underlier level, you will receive on the applicable payment date a coupon for each $1,000 face amount of your notes equal to $12.375 (1.2375% monthly, or the potential for up to 14.85% per annum). The index attempts to provide exposure to the S&P 500 ® Futures Excess Return Index with a rules-based overlay that adjusts exposure to the S&P 500 ® Futures Excess Return Index on a daily basis. The objective of these rules, taken collectively, is to create an index that provides for volatility-adjusted exposure to the S&P 500 ® Futures Excess Return Index, coupled with further adjustments based on calendar-based signals and price patterns, subject to a maximum exposure of 500% and a maximum daily change in leverage of 100%. In addition, the index is subject to a daily decrement of 6.0% per annum. The S&P 500 ® Futures Excess Return Index tracks the performance of E-mini S&P 500 futures contracts, not the S&P 500 ® Index. Generally, the return on an investment in a futures contract is correlated with, but not the same as, the return on buying and holding the securities underlying such contract. The index is subject to risks associated with the use of significant leverage. Investors should be aware that the use of leverage will magnify and accelerate any negative performance of the index. The index is also subject to a cap on the maximum daily change in leverage of 100%, which may result in the index leveraging up more slowly in the event of a market rally, and/or deleveraging more slowly in the event of a market sell-off, compared to an identical index that does not cap the amount of daily leverage change. In addition, a per annum deduction that is a fixed 6.0% of the index level, also known as a decrement, is deducted daily, even when the index is not fully invested. The deduction of the decrement has the effect of offsetting positive returns, and worsening negative returns, on the performance of the index, and the inclusion of the decrement means the index will trail the performance of an identical index without such a decrement feature. In addition, the index may be significantly uninvested in the S&P 500 ® Futures Excess Return Index on any given day, and, in that case, will realize only a portion of any gains in the appreciation of the S&P 500 ® Futures Excess Return Index or the E-mini S&P 500 futures contracts on that day and any uninvested portion will earn no return. The index attempts to provide exposure to the S&P 500 ® Futures Excess Return Index. The S&P 500 ® Futures Excess Return Index tracks futures contracts on the S&P 500 ® Index and is likely to underperform the total return performance of the S&P 500 ® Index because of an implicit financing cost. The description above is only a summary. For a more detailed description of the index, see “Index Summary” beginning on page PS-3. The amount that you will be paid on your notes at maturity, if the notes have not been automatically called , in addition to the final coupon, if any, is based on the performance of the index. The underlier return is the percentage increase or decrease in the closing level of the index on the determination date (the final observation date, March 20, 2031) from the initial underlier level. At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to: · if the underlier return is greater than or equal to -50% (the final underlier level is greater than or equal to 50% of

View Full Filing

View this 424B2 filing on SEC EDGAR