高盛美股招股说明书(2026-06-04版)

Subject to Completion. Dated June 3, 2026.GS Finance Corp.$Autocallable Contingent Coupon Basket-Linked Notes dueguaranteed byThe Goldman Sachs Group, Inc. The notes do not pay a fixed coupon and may pay no coupon on a payment date.The amount that you will be paidon your notes is based on the performance of an equally weighted basket comprised of the common stock of AdvancedMicro Devices, Inc., the common stock of Broadcom Inc., the Class A common stock of Palantir Technologies Inc. andthe common stockof Tesla, Inc. (the basket stocks).Each basket stock has an initial weighting of 25% and an initialweighted value of 25. The notes will mature on the stated maturity date (expected to be June 12, 2031), unless automatically called on anyobservation date, commencing in June 2027 to and including May 2031. Your notes will be automatically called if theclosing level of the basket on any such observation date isgreater thanorequal tothe initial basket level. If your notesare automatically called, you will receive a payment on the next payment date (expected to be the fifth business day afterthe relevant observation date) equal to the face amount of your notesplusa coupon (as described below). The initial basket level is 100 and the closing level of the basket on any observation date will equal thesumof theproducts, as calculated for each basket stock, of: (i) its closing price on such observation datedividedby (ii) its initialbasket stock price (set on the trade date (expected to be June 5, 2026) and will be an intra-day price or the closing priceof one share of such basket stock on the trade date)multipliedby (iii) its initial weighted value. Observation dates are expected to be the 5th day of each month, commencing in July 2026 and ending in June 2031. Ifon any observation date the closing level of the basket isgreater thanorequal to80% of the initial basket level, you willreceive on the applicable payment date a coupon for each $1,000 face amount of your notes equal to $12.042 (1.2042%monthly, or the potential for up to approximately 14.45% per annum). The amount that you will be paid on your notes at maturity, if they have not been automatically called, in addition to thefinal coupon, if any, is based on the basket return. The basket return is the percentage increase or decrease in theclosing level of the basket on the determination date (the final observation date, expected to be June 5, 2031) from theinitial basket level. At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to: •if the basket return isgreater thanorequal to-20% (the final basket level isgreater than or equal to80% of the initialbasket level), $1,000 plus the final coupon;•if the basket return isless than-20% (the final basket level isless than80% of the initial basket level), thesumof (i)$1,000plus(ii) theproductof (a) $1,000times(b) thesum ofthe basket returnplus20%.You will receiveless thanthe face amount of your notes and no coupon. Declines in one basket stock may offset increases in the other basket stocks. You should read the disclosure herein to better understand the terms and risks of your investment, including thecredit risk of GS Finance Corp. and The Goldman Sachs Group, Inc. See page S-21. The estimated value of yournotes at the time the terms of your notes are set on the trade date is expected to be between$886 and $926 per $1,000 face amount. For a discussion of the estimated value and the price at which Goldman Sachs &Co. LLC would initially buy or sell your notes, if it makes a market in the notes, see the following page. Original issue date:expected to be June 10, 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” on page S-43 foradditional 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 the contraryis a criminal offense.The notes are not bank deposits and are not insured by the Federal Deposit InsuranceCorporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.Goldman Sachs & Co. LLC Prospectus 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 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 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 note