高盛美股招股说明书(2026-05-08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 May 7, 2026.GS Finance Corp. $ Autocallable Contingent Coupon Equity-Linked Notes due guaranteed byThe Goldman Sachs Group, Inc. If the closing price ofany of the common stock of NVIDIA Corporation, the common stock of Home Depot, Inc.or the common stock of Hilton Worldwide Holdings Inc. on any observation date isless than50% of its initialprice, you will not receive a coupon on the applicable payment date.The amount that you will be paid on yournotes is based on the performances of the index stocks. The notes will mature on the stated maturity date (expected tobe May 11, 2027), unless automatically called on any observation date, commencing in August 2026 to and includingFebruary 2027. Your notes will be automatically called if the closing price of each index stock on any such observationdate isgreater thanorequal toits initial price set on May 6, 2026 ($207.83 with respect tothe common stock of NVIDIA Observation dates are expected to be August 6, 2026, November 6, 2026, February 8, 2027 and May 6, 2027. If on anyobservation date the closing price of each index stock isgreater thanorequalto 50% of its initial price, you will receiveon the applicable payment date a coupon for each $1,000 face amount of your notes equal to $33.5 (3.35% quarterly, or If your note has not been automatically called, your payment on the stated maturity date will depend on whether a triggerevent has occurred. A trigger event will occur if the closing price of all of the index stocks are less than their respectiveinitial price on the determination date (the final observation date, expected to be May 6, 2027). If atrigger event has notoccurred, at maturity you will receive the face amount of your note.Accordingly, if theclosing price of any index stock on the determination date (its final level) is greater than its initial price, you willreceive the face amount of your note, regardless of the performance of the other index stocks.In addition, if the If atrigger event hasoccurred, at maturity you will receive an amount based on the performance of the index stock withthe lowest index stock return (the percentage increase or decrease in the closing price of such index stock on thedetermination date from its initial price).This amount will not exceed the face amount of your note and could besignificantly less than the face amount of your note.If the closing price of each index stock on the determination •if atrigger event hasnot occurred, $1,000, plus the final coupon if the final price of each index stock isgreater thanorequal to50% of its initial price; or •if atrigger event hasoccurred, either:oif the final price of each index stock isgreater than or equal to50% of its initial price, $1,000 plus the finalcoupon; oroif the final price ofany index stock isless than50% of its initial price, thesumof (i) $1,000plus(ii) theproductof 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 $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 price:100% of the face amountNet proceeds to the issuer: expected to be May 13, 2026% of the face amount* *See “Supplemental Plan of Distribution” on page S-41 for additional information regarding the fees comprising the underwriting Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of thesesecurities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminaloffense.The notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other Goldman Sachs & Co. LLC The issue price, underwriting discount and net proceeds listed above relate to the notes we sell initially. We may decideto sell additional notes after the date of this prospectus supplement, at issue prices and with underwriting discounts andnet proceeds that differ from the amounts set forth above. The return (whether positive or negative) on your investment 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 ag