高盛美股招股说明书(2026-08-13版)

Subject to Completion. Dated August 13, 2026. GS Finance Corp. $ Autocallable Contingent Coupon Equity-Linked Notes due guaranteed by The Goldman Sachs Group, Inc. If the closing price ofany of the common stock of NVIDIA Corporation, the Class C capital stock of AlphabetInc., the common stock of Advanced Micro Devices, Inc. or the common stock of Tesla, Inc. on any observationdate isless than82% of its initial price, you will not receive a coupon on the applicable payment date.Theamount that you will be paid on your notes is based on the performances of the index stocks. The notes will mature onthe stated maturity date (expected to be August 31, 2033), unless automatically called on any observation datecommencing in August 2027 to and including July 2033. Your notes will be automatically called if the closing price ofeach index stock on any such observation date isgreater thanorequal to82% of its initial index stock price (set on thetrade date (expected to be August 26, 2026) and will be an intra-day price or the closing price of one share of such indexstock on the trade date). If your notes are automatically called, you will receive a payment on the next payment date (thethird business day after the relevant observation date) equal to the face amount of your notesplusa coupon (asdescribed below). Observation dates are expected to be the 26th day of each month, commencing in September 2026 and ending inAugust 2033. If on any observation date the closing price of each index stock isgreater thanorequalto 82% of its initialprice, you will receive on the applicable payment date a coupon for each $1,000 face amount of your notes equal to (i)theproductof $6.542 (0.6542% monthly, or up to approximately 7.85% per annum)timesthe number of observationdates that have occurred up to and including the relevant observation dateminus(ii) thesumof all coupons previouslypaid, if any. If your notes have not been automatically called, at maturity, for each $1,000 face amount of your notes you will receive$1,000 plus the final coupon, if any. 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 PS-17. 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 followingpage. expected to be August 31, 2026Original issue price:100% of the face amount* * The original issue price will be% for certain investors; see “Supplemental Plan of Distribution; Conflicts of Interest”on page PS-30for additional 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 bank.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 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) isexpected to be between $885 and $925 per $1,000 face amount, which is less than the original issue price. The valueof your notes at any time will reflect many factors and cannot be predicted; however, the price (not including GS&Co.’scustomary bid and ask spreads) at which GS&Co. would initially buy or sell notes (if it makes a market, which it is notobligated to do) and the value that GS&Co. will initially use for account statements and otherwise is equal toapproximately the estimated value of your notes at the ti