高盛美股招股说明书(2026-06-02版)

Subject to Completion. Dated June 1, 2026.GS Finance Corp.$Autocallable Underlier-Linked Notes dueguaranteed byThe Goldman Sachs Group, Inc. The notes do not bear interest.The notes will mature on the stated maturity date (expected to be June 11, 2030)unless they are automatically called on any call observation date commencing on June 4, 2027. Your notes will beautomatically called on a call observation date if the closing level of each of the Nasdaq-100 Index®and the iShares®Expanded Tech-Software Sector ETF on such date isgreater thanorequal toits initial level (set on the trade date andwill be an intra-day level or the closing level of such underlier on the trade date (expected to be June 4, 2026)),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 amount plus the product of $1,000 times the 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 PS-4of this pricing supplement.The return on your notes is linked, in part, to the performance of the iShares® Expanded Tech-Software SectorETF (ETF), and not to that of the index on which the ETF is based.The amount that you will be paid on your notes at maturity,if they have not been automatically called, is based on the performance of the lesser performing underlier (the underlier with the lowest underlier return). The underlier return foreach underlier is the percentage increase or decrease in its final level (the closing level of such underlier on thedetermination date, expected to be June 4, 2030) from its initial level.At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to: •if the final level of each underlier isgreater thanorequal toits initial level, $1,752; •if the final level ofany underlier is less than its initial level but the final level of each underlier is greater than orequal to 70% of its initial level, $1,000; or•if the final level ofany underlier isless than70% of its initial level, thesumof (i) $1,000plus(ii) theproductof (a)the lesser performing underlier returntimes(b)$1,000.You will receive less than 70% of the face amount ofyour notes. If the underlier return forany underlier isless than-30%, the percentage of the face amount of your notes youwill receive will be based on the performance of the underlier with the lowest underlier return. In such event,you will receiveless than70% of the face amount of your notes.You should read the disclosure herein to better understand the terms and risks of your investment, including the credit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. See page PS-13.The estimated value of your notes at the time the terms of your notes are set on the trade date is expected to be between $905 and $945 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 followingpage. Original issue date:expected to be June 9, 2026Original issue price:100% of the face amount*Underwriting discount:% of the face amount*Net proceeds to the issuer:% of the face amount* The original issue price will be% for certain investors; see “Supplemental Plan of Distribution; Conflicts of Interest” on page PS-29for additional information regarding the fees comprising the underwriting discount.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 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, abank.Goldman Sachs & Co. LLC Pricing Supplement No.dated, 2026. 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 pricing supplement, at issue prices and with underwriting discounts and netproceeds that differ from the amounts set forth above. The return (whether positive or negative) on your investment innotes will depend in part on the issue price you pay for such notes. 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 mod