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GS Finance Corp., fully guaranteed by The Goldman Sachs Group, Inc., is offering $2.557 million of Autocallable Equity-Linked Notes (Series F) tied equally to Micron Technology (MU), Netflix (NFLX) and Palo Alto Networks (PANW). The notes pay no periodic interest and mature on 23 June 2028, unless automatically called as early as 18 June 2026.

Automatic call feature: On any semi-annual call observation date, if the closing price of each index stock is at or above the applicable step-down call level, the notes are redeemed for 100% principal plus a call premium that increases over time (see page S-4). If not called, investors face three payoff scenarios at maturity: (1) all three final prices 鈮�80% of initial price 鉃� $2,179 per $1,000 note (117.9% maturity premium); (2) all 鈮�70% but any <80% 鉃� return of principal; (3) any final price <70% 鉃� principal reduced one-for-one with the worst-performing stock, exposing investors to losses below the 70% trigger buffer.

Pricing economics & risks: Issue price is 100%, but Goldman鈥檚 estimated value at trade date is ~$970 per $1,000 note, reflecting dealer margin and structuring fee of up to 0.8%. Before 18 Sept 2025, secondary market quotations (if any) will include an additional amount that amortises to zero; thereafter pricing will approximate the dealer鈥檚 model value. The notes carry credit risk of GS Finance Corp./Goldman Sachs, lack FDIC insurance, and may be illiquid.

Sprinklr, Inc. (CXM) 鈥� Form 4 insider filing dated 18 June 2025

Chief Accounting Officer Marlise Ricci disclosed a mandatory 鈥渟ell-to-cover鈥� transaction related to the vesting of restricted stock units.

• Transaction date: 16 June 2025
• Shares sold: 18,706 Class A common shares
• Weighted-average price: $8.17 (individual trades ranged from $7.99 to $8.25)
• Purpose: Satisfy statutory tax-withholding obligations; sale was not discretionary
• Remaining direct ownership: 279,104 shares, which includes 2,782 shares acquired via the employee stock purchase plan on 13 June 2025

No derivative securities were involved and there were no additional transactions reported. The officer continues to hold a material equity position, indicating ongoing alignment with shareholders. Given the small size and non-discretionary nature of the sale, the filing is considered neutral in investment impact.

Goldman Sachs Group has filed a Free Writing Prospectus for Market Linked Securities - Autocallable with Contingent Coupon and Contingent Downside Principal at Risk Securities linked to Robinhood Markets Class A Common Stock, due June 29, 2028.

Key features include:

• Contingent coupon payments of at least 23.50% per annum ($58.75 per $1,000) if stock price meets threshold
• Automatic call feature triggers if stock price equals/exceeds starting price on call dates
• Downside threshold price set at 50% of starting price
• Estimated security value between $925-$955 per $1,000 face amount

Significant risks include potential loss of entire investment, credit risk of issuer/guarantor, and limited participation in stock appreciation. Securities will be issued by GS Finance Corp and guaranteed by Goldman Sachs Group, with Wells Fargo Securities as distribution agent receiving up to 2.325% underwriting discount.

Goldman Sachs Finance Corp has filed a prospectus supplement for Autocallable EURO STOXX 50庐 Index-Linked Notes due 2030, guaranteed by The Goldman Sachs Group. The notes feature:

• Automatic Call Feature: Notes will be automatically called if the EURO STOXX 50 Index closes at or above initial level on June 30, 2027, paying $1,168.50 per $1,000 face amount
• Maturity Payment Structure: If not called early, payment at maturity will be $1,000 plus 100% participation in any index gains; principal protected if index declines
• Key Dates: Trade date June 30, 2025; Maturity date July 5, 2030
• Pricing: Original issue price 100% with 2.2% underwriting discount (including 2% selling concession and 0.2% structuring fee)
• Estimated Value: $885-$915 per $1,000 face amount, below issue price, reflecting Goldman's pricing models and credit spreads

Notes are not FDIC insured and subject to credit risk of GS Finance Corp and Goldman Sachs Group as guarantor.

Two Roads Shared Trust 鈥� Anfield Dynamic Fixed Income ETF filed its monthly Form N-PORT for the period ended 30 April 2025. The report covers the Fund鈥檚 balance sheet, recent performance, and shareholder activity.

Balance sheet (Part B.1)

• Total assets: $47.01 million
• Total liabilities: $0.05 million
• Net assets: $46.95 million 鈥� liabilities represent roughly 0.12 % of assets, indicating a low leverage profile
• Cash & cash equivalents not in Parts C/D: $71 k

Performance (Part B.5)

• Month 1: +1.77 %
• Month 2: -0.33 %
• Month 3: +0.14 %

Net realized gains were negligible, while unrealized movements were volatile: +$673.8 k in Month 1, -$244.8 k in Month 2, and -$82.5 k in Month 3, highlighting mark-to-market swings in the portfolio.

Flows (Part B.6)

• Month 1 gross sales: $1.48 million; redemptions: $0
• Month 2 gross sales: $0.64 million; redemptions: $0

The absence of redemptions suggests steady investor demand and net positive inflows of about $2.12 million over the two reported months.

Risk metrics & leverage: The Fund reported no borrowings, no delayed-delivery payables, and no credit-spread sensitivity disclosures, implying debt exposure remained below the 25 % threshold that would otherwise trigger mandatory reporting.

Key takeaway: The ETF maintains a modest asset base just under $47 million with minimal liabilities and no leverage. Recent flows are positive, though returns have been mixed, reflecting the dynamic fixed-income strategy鈥檚 sensitivity to market movements. No information indicates material credit or liquidity stress.

Note: The filing text references Anfield Dynamic Fixed Income ETF, not Hypatia Women CEO ETF (WCEO) cited in the metadata. Analysis is limited to the data explicitly provided in the filing.

Goldman Sachs Finance Corp announces Autocallable Contingent Coupon Equity-Linked Notes due 2028, guaranteed by Goldman Sachs Group. The notes are linked to NVIDIA stock performance with a 3-year term. Key features include monthly contingent coupons of $9.25 (0.925% monthly/11.10% p.a.) if NVIDIA closes at/above 50% of initial level, automatic call feature if NVIDIA closes at/above initial level, and principal protection at 50% buffer level. If NVIDIA falls below buffer at maturity, investors face 1:1 losses. Notes priced at $1,000 face value with estimated value of $925-$955. Trading starts June 26, 2025, with maturity on June 29, 2028. Notes carry credit risk of both GS Finance Corp and Goldman Sachs Group.

Offering overview: GS Finance Corp., guaranteed by The Goldman Sachs Group, Inc. (ticker GS), is marketing Autocallable Contingent Coupon Equity-Linked Notes due 5 Jan 2027 that reference the common stock of NVIDIA Corporation (NVDA). The preliminary filing discloses an issue price of 100 % of face value, a 1.5 % underwriting discount and net proceeds of 98.5 %. The issuer鈥檚 own valuation on the trade date is $925-$955 per $1,000 note, meaning investors pay 4.5-7.5 % above estimated fair value.

Income profile: The notes pay a contingent quarterly coupon only if NVDA closes at or above the coupon trigger鈥�55 % of the initial level鈥攐n each observation date. The formula is $32.125 脳 (observation count) 鈥� coupons already paid, implying a potential cumulative coupon of up to $192.75 over six periods if the trigger is met every eligible quarter.

Early redemption: Any quarter in which NVDA closes at or above the initial level also serves as a call observation date; in that event the notes are automatically redeemed at par plus the due coupon, shortening the investment horizon.

Maturity mechanics: If not called, principal repayment depends on NVDA鈥檚 closing price on 30 Dec 2026. 鈥� At or above 55 % of initial: investors receive 100 % of face plus the final coupon (if the trigger is met). 鈥� Below 55 %: repayment equals $1,000 脳 (final/initial), exposing investors to the full downside beyond the 45 % buffer and up to total loss of principal.

Key structural terms: Trigger buffer and coupon trigger both fixed at 55 % of initial level; no upside participation beyond par. Calculation agent is Goldman Sachs & Co. LLC; CUSIP 40058JFQ3. Settlement is in cash only; the notes are senior unsecured obligations of GS Finance Corp. and rank pari passu with its other senior debt, fully and unconditionally guaranteed by GS.

Risk highlights: 1) Credit risk of GS Finance Corp. and GS; 2) Single-stock concentration in NVDA, a historically volatile equity; 3) Market value discount鈥攊nitial fair value is below issue price and secondary prices will include dealer spreads; 4) No market listing, so liquidity depends on discretionary market-making; 5) Tax uncertainty鈥攃oupons likely taxed as ordinary income; 6) Limited upside: maximum return is coupons plus par, even if NVDA doubles.

These notes may appeal to investors seeking elevated income and willing to accept significant downside and credit risk tied to a single technology stock over an 18-month horizon.

Goldman Sachs Finance Corp has filed a prospectus supplement for Autocallable S&P 500 Index-Linked Notes due 2030, guaranteed by The Goldman Sachs Group. Key features include:

• Automatic Call Feature: Notes will be automatically called if the S&P 500 Index closes at or above initial level on July 6, 2026, paying $1,083 per $1,000 face amount
• Maturity Payment Structure: If not called early: - Above initial level: $1,000 + (100% upside participation) - Between 70-100% of initial level: $1,000 principal protected - Below 70%: Losses of 1% for each 1% decline beyond 30% buffer
• Key Dates: Trade date July 3, 2025; Maturity July 11, 2030
• Estimated Value: $885-$935 per $1,000 face amount, below issue price

Notes carry significant risk including potential loss of principal and credit risk of Goldman Sachs. No interest payments are made during the term.

Goldman Sachs Finance Corp has filed a Free Writing Prospectus for Contingent Income Callable Securities linked to the worst-performing of the S&P 500, Russell 2000, and Nasdaq-100 indices, due June 29, 2027. The securities offer:

• Quarterly contingent coupon of at least $26.25 per $1,000 principal if all indices stay above threshold levels
• Early redemption option starting December 30, 2025
• 75% downside threshold level for each index
• Principal at risk: investors could lose significant portion if any index falls below threshold

Key risks include potential loss of entire investment, credit risk of issuer/guarantor, and no participation in index appreciation. The estimated value range is $920-$980, below the issue price. The securities target investors seeking enhanced yield while accepting significant downside risk tied to multiple market indices.