高盛美股招股说明书(2026-03-09版)

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 March 6, 2026.GS Finance Corp. $ Autocallable Equity-Linked Notes due The notes do not bear interest.The notes will mature on the stated maturity date (expected to be March 26, 2031)unless they are automatically called on any call observation date commencing on March 19, 2027. Your notes will beautomatically called on a call observation date if the closing price of each of the Class C capital stock of Alphabet Inc.,the Class A common stock of Meta Platforms, Inc. (formerly Facebook, Inc.) and the common stock of NVIDIA 19, 2026, and will be an intra-day price or the closing price of one share of such index stock on the trade date),resulting in a payment on the corresponding call payment date for each $1,000 face amount of your notes equal to such$1,000 face amountplustheproductof $1,000timesthe applicable call premium amount. The call observation dates,the call payment dates and the applicable call premium amount for each call payment date are specified on page S-4 of The amount that you will be paid on your notes at maturity,if they have not been automatically called, is based on theperformance of the lesser performing index stock (the index stock with the lowest index stock return). The index stockreturn for each index stock is the percentage increase or decrease in its final price (the closing price of such index stock on the determination date, expected to be March 19, 2031) from its initial price. If the final price of each index stock is maximum settlement amount of $1,387.54 for each $1,000 face amount of your notes.If the final price ofany indexstock is less than its initial price, you will receive the face amount of your notes. At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to: •if the final price of each index stock isgreater than or equal to90% of its initial price, the maximum settlementamount; or 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-20. The estimated value of yournotes at the time the terms of your notes are set on the trade date is expected to bebetween $885 and $925 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 expected to be March 24, 2026Original issue price:% of the face amount*Net proceeds to the issuer: Original issue date:100% of the face amount*Underwriting discount:% of the face amount * The original issue price will be% for certain investors; see “Supplemental Plan of Distribution” on page S-39 foradditional information regarding the fees comprising the underwriting discount. 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 Goldman Sachs & Co. LLC 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 yournotes 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 creditspreads) is expected to be between $885 and $925 per $1,000 face amount, which is less than the original issueprice. The value of your notes at any time will reflect many factors and cannot be predicted; however, the price (notincluding GS&Co.’s customary bid and ask spreads) at which GS&Co. would initially buy or sell notes (if it makes amarket, which it is not obligated to do) and the value that GS&Co