高盛美股招股说明书(2026-04-27版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminarypricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdictionwhere the offer or sale is not permitted. Subject to Completion. Dated April 24, 2026. GS Finance Corp. $Buffered Nasdaq-100 Index -Linked Notes due guaranteed byThe Goldman Sachs Group, Inc. The notes do not bear interest.The amount that you will be paid on your notes on the stated maturity date (expected to be August 10, 2028) is based on the performance of the Nasdaq-100 Index® as measured from the initial index level(set on the trade date (expected to be May 5, 2026) and will be an intra-day level or the closing level of the index on thetrade date) to the final index level on the determination date (expected to be August 7, 2028).If the index return (the percentage change in the final index level from the initial index level) is positive or zero, thereturn on your notes will be zero and you will receive $1,000 for each $1,000 face amount of your notes. If the index return is negative and the final index level isequal toorgreater than60% of the initial index level, the returnon your notes will be equal to the participation rate of 2.21timesthe absolute value of the index return (e.g., if the indexreturn is -10%, your return will be +22.1%). If the index return is negative and the final index level isless than60% of the initial index level, the return on your noteswill be negative and will equal the index returnplus40%.You could lose a significant portion of the face amount ofyour notes. For example, if the index return is -40%, you will receive a positive return of 88.4% on your notes; however, ifthe index return is -41%, you will lose 1% of the value of your notes. You could receive significantly less thanthe face amount of your notes at maturity. By purchasing this note, you primarily are taking the bearish view that the value of the Nasdaq-100 Index®decline such that the final index level will beless thanthe initial index level but equal to or greater than 60% ofthe initial index level. At maturity, for each $1,000 face amount of your notes, you will receive an amount in cash equal to: ●if the index return ispositiveorzero(the final index level isgreater thanorequal tothe initial index level), $1,000; ●if the index return isnegativebut notbelow-40% (the final index level isless thanthe initial index level, but not bymore than 40%), thesumof (i) $1,000plus(ii) theproductof (a) $1,000times(b) the participation ratetimes(c) theabsolute value of the index return; or ●if the index return isnegativeand isbelow-40% (the final index level isless thanthe initial index level by more than40%), thesumof (i) $1,000plus(ii) theproductof (a) $1,000times(b) thesum ofthe index returnplus40%. Youwill receive less than the face amount of your notes. 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-9. 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 date:expected to be May 8, 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-19 for 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 Deposit Goldman Sachs & Co. LLC Pricing Supplement No. 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 in 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