高盛美股招股说明书(2026-02-13版)

Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-284538The information in this preliminary prospectus supplement is not complete and may be changed. This preliminary prospectus supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where theoffer or sale is not permitted. Subject to Completion. Dated February 12, 2026. GS Finance Corp. $ Autocallable Fixed Coupon Equity-Linked Notes dueguaranteed by The Goldman Sachs Group, Inc. Unless your notes are called, you will receive on the applicable coupon payment date (expected to be the quarterlydates specified on page S-5 of this prospectus supplement) a coupon for each $1,000 face amount of your notes equalto $26.25 (2.625% quarterly, or up to 10.5% per annum) and the return on your notes on the stated maturity date Your notes will be automatically called if the closing price of the index stock on any call observation date (expected tobe the quarterly dates specified on page S-4 of this prospectus supplement) isgreater thanorequal tothe initial indexstock price set on the trade date and will be an intra-day price or the closing price of one share of the index stock on the The amount that you will be paid on your notes at maturity, if they have not been automatically called, in addition to thefinal coupon, is based on the index stock return (the percentage increase or decrease in the closing price of the indexstock on the determination date (the final index stock price) from the initial index stock price). At maturity, for each $1,000 face amount of your notes, in addition to the final coupon you will receive an amount incash equal to: ●if the index stock return is greater than or equal to -40% (the final index stock price of the index stock is greaterthan or equal to 60% of the initial index stock price), $1,000; or ●if the index stock return is less than -40% (the final index stock price of the index stock is less than 60% of the initialindex stock price), the sum of (i) $1,000 plus (ii) the product of (a) the index stock return times (b) $1,000. You willreceive less than 60% of the face amount of your notes. If the index stock return is less than -40%, the percentage of the face amount of your notes you will receive willbe based on the index stock return. In such event, you will receive less than 60% of the face amount of yournotes. You should read the disclosure herein to better understand the terms and risks of your investment, includingthe credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. See page S-19. The estimated value of yournotes at the time the terms of your notes are set on the trade date is expected to bebetween $925 and $955 per $1,000 face amount. For a discussion of the estimated value and the price at whichGoldman Sachs & Co. LLC would initially buy or sell your notes, if it makes a market in the notes, see the following Original issue date:expected to be February 27, 2026Original issue price:Underwriting discount:% of the face amount* Net proceeds to the issuer: * The original issue price will be% for certain investors; see “Supplemental Plan of Distribution” on page S-37. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapprovedof these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to thecontrary is a criminal offense.The notes are not bank deposits and are not insured by the Federal DepositInsurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a , 2026. The issue price, underwriting discount and net proceeds listed above relate to the notes we sell initially. We maydecide to sell additional notes after the date of this prospectus supplement, at issue prices and with underwritingdiscounts and net proceeds that differ from the amounts set forth above. The return (whether positive or negative) on GS Finance Corp. may use this prospectus in the initial sale of the notes. In addition, Goldman Sachs & Co. LLC or anyother affiliate of GS Finance Corp. may use this prospectus in a market-making transaction in a note after its initial sale.Unless GS Finance Corp. or its agent informs the purchaser otherwise in the confirmation of sale, thisprospectus is being used in a market-making transaction. Estimated Value of Your Notes The estimated value of your notes at the time the terms of your notes are set on the trade date (as determined byreference to pricing models used by Goldman Sachs & Co. LLC (GS&Co.) and taking into account our credit spreads)is expected to be between $925 and $955 per $1,000 face amount, which is less than the original issue price. Thevalue of your notes at any time will reflect many factors and cannot be predicted; however, the price (not includingGS&Co.’s customary bid and ask spreads) at which GS&Co. would initially buy or sell notes (if it makes a market,which it is not obligated to do