Goldman Sachs Introduces AMD-Linked Autocallable Securities

Goldman Sachs Group Inc. has unveiled a new structured financial product linked to the performance of Advanced Micro Devices Inc. (AMD) stock. The securities, known as autocallable notes with contingent coupons and downside protection, are set to be issued by GS Finance Corp. and guaranteed by The Goldman Sachs Group, Inc. The offering is part of the Medium-Term Notes, Series F program.

The notes have a maturity date of October 12, 2028, with an expected pricing date of October 9, 2026, and an issue date of October 15, 2026. Investors may receive contingent coupon payments of at least $15.667 per $1,000 face amount, equivalent to an annual rate of approximately 18.80%, if AMD's stock price meets or exceeds the coupon threshold price of 60% of the starting price. However, if AMD's stock price falls below the downside threshold price of 60% of the starting price at maturity, investors could lose more than 40% of their investment.

The securities will be subject to automatic calls starting from April 2027 if AMD's stock price meets or exceeds the starting price on any call date. The estimated value of the securities at the time of pricing is expected to be between $900 and $930 per $1,000 face amount. Wells Fargo Securities, LLC is the agent for the distribution of the securities, receiving an underwriting discount of up to 2.325% of the face amount.

Investors are advised to carefully read the accompanying preliminary pricing supplement and related documents to understand the terms, risks, and tax consequences of this investment. The securities involve complex features and risks not associated with conventional debt securities.