Goldman Sachs Group INC 424B2 Filing

Key Financial Figures

• $1,000 — xed rate notes (notes) Denominations: $1,000 and integral multiples of $1,000 in exc

Filing Documents

• 38151fy31_prelim.htm (424B2) — 104KB
• img171520915_0.jpg (GRAPHIC) — 6KB
• img171520915_1.jpg (GRAPHIC) — 7KB
• 0001193125-26-144970.txt ( ) — 124KB

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. $ The Goldman Sachs Group, Inc. Callable Fixed Rate Notes due 2046 We will pay you interest on your notes at a rate of 5.80% per annum from and including the original issue date (expected to be April 17, 2026) to but excluding the stated maturity date (expected to be April 6, 2046). Interest will be paid on each interest payment date (expected to be the 17th day of each April and the stated maturity date). The first such payment will be made on the first interest payment date (expected to be April 17, 2027). In addition, we may redeem the notes at our option, in whole but not in part, on each redemption date (expected to be the 17th day of each January, April, July and October on or after April 17, 2029), upon at least five business days’ prior notice, at a redemption price equal to 100% of the outstanding principal amount plus accrued and unpaid interest to but excluding the redemption date. Per Note Total Initial price to public* % $ Underwriting discount* % $ Proceeds, before expenses, to The Goldman Sachs Group, Inc. % $ * The initial price to public will vary between % and 100% for certain investors; see “Supplemental Plan of Distribution” on page PS- 7 . The initial price to public set forth above does not include accrued interest, if any. Interest on the notes will accrue from the original issue date and must be paid by the purchaser if the notes are delivered after the original issue date. In addition to offers and sales at the initial price to public, the underwriters may offer the notes from time to time for sale in one or more transactions at market prices prevailing at the time of sale, at prices related to market prices or at negotiated prices. The return (whether positive or negative) on your investment in notes will depend in part on the issue price you pay for such notes. 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 may use this prospectus in the initial sale of the notes. In addition, Goldman Sachs & Co. LLC or any other affiliate of Goldman Sachs may use this prospectus in a market-making transaction in the notes after their initial sale. Unless Goldman Sachs or its agent informs the purchaser otherwise in the confirmation of sale, this prospectus is being used in a market-making transaction. The Goldman Sachs Group, Inc. intends to file its quarterly earnings release for the quarter ended March 31, 2026 on Form 8-K with the United States Securities and Exchange Commission on or about April 13, 2026, which is prior to both the trade date and the original issue date for these notes. You should read the earnings release. Investors who have already agreed to purchase or subscribe for the notes before the earnings release is filed may withdraw their purchase orders, indications of interest or subscriptions at any time prior to the trade date for these notes. In the event that there has been a significant adverse movement in the credit spread of the issuer with respect to the notes subsequent to the date hereof and prior to the trade date as determined by the issuer in its sole discretion, the proposed issuance of notes will terminate in its entirety without any liability of the issuer to you, any investor, distributor, or any other person, and the notes will not be issued. Goldman Sachs & Co. LLC InspereX LLC Pricing Supplement No. dated April , 2026. About Your Prospectus The notes are part of the Medium-Term Notes, Series N program of The Goldman Sachs Group, Inc. This prospectus includes this pricing supplement and the accompanying documents listed below. This pricing supplement constitutes a supplement to the documents listed below and should be read in conjunction with such documents: • Prospectus supplement dated February 14, 2025 • Prospectus dated February 14, 2025 The information in this pricing supplement supersedes any conflicting information in the documents listed above. In addition, some of the terms or features described in the listed documents may not apply to your notes. PS- 2 SPECIFIC TERMS OF THE NOTES Please note that in this section entitled “Specific Terms of the Notes”, references to “The Goldman Sachs Group, Inc.&#x201

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