Goldman Sachs Funds Pricing Guide and Fund Summary

Goldman Sachs Funds

Pricing Guide and Fund Summary

September 2021

Goldman Sachs Asset Management | 1

SUMMARY OF PRICING FEATURES

Please see prospectus and the following charts for more information.

Contact your Financial Advisor for more information on Goldman Sachs Funds.

MaximumFront-End Sales Load

ContingentDeferredSales Charge

Conversion toA Shares

Maximum DealerReallowance

Class Fee toIntermediary (bps)

Up-frontCommissions

Minimum /MaximumInvestment

Class A

(front-end load)

5.50% on equity

funds, Specialty and

Total Portfolio

Solutions portfolios;

4.50% on most fixed

income funds†

None on purchases

with front-end sales

load*

N/A 5.00% on equity

funds, Specialty and

Total Portfolio

Solutions portfolios;

4.00% on most fixed

income funds

0.25% (0.15% on

certain fixed income

funds†) accrues

immediately, paid

quarterly;

None on purchases

with front-end sales

load**

$1,000 / none

Class C

(level load)

N/A 1% if shares are

redeemed within

12 months of

purchase

For GS Short

Duration Government

Fund, GS Short

Duration Tax-Free

Fund & GS Short

Duration Bond Fund

the CDSC is 0.65 for

shares redeemed

within 12 months

of purchase

Effective July 30,

2018, Class C shares

will automatically be

converted to Class A

shares ten years after

the purchase date.

Please see the Funds’

prospectus for

complete details.

N/A 1.00% begins

accruing in month

13, paid quarterly

For GS Short

Duration

Government GS

Short Duration

Tax-Free Fund &

GS Short Duration

Bond Fund Tax

Free the Annual

Trail Commissions

is 0.65% of

average daily net

assets

1%

For GS Short

Duration Government

Fund, GS Short

Duration Tax-Free

Fund & GS Short

Duration Bond Fund

the Up-front

Commissions is

0.65

$1,000 / 1,000,000

(except for GS

Short Duration

Government, GS

Short Duration

Tax-Free Fund & GS

Short Duration Bond

Fund Maximum

investment $500,000

and Dynamic

Municipal Income

Fund Maximum

investment $250,000)

Institutional N/A N/A N/A N/A N/A N/A $1,000,000/none

Service N/A N/A N/A N/A 0.50% (applicable

where prior

agreements with

Intermediaries exist)

N/A N/A

Class Investor†† N/A N/A N/A N/A N/A N/A N/A

Class P††† N/A N/A N/A N/A N/A N/A N/A

Class R†† N/A N/A N/A N/A 0.50% accrues

immediately,

paid quarterly

N/A N/A

Class R6†† N/A N/A N/A N/A N/A N/A N/A

June 2021Pricing Guide and Fund Summary


September 2021

Pricing Guide

* Outside of the exceptions noted below, clients who purchase shares at NAV will be charged a 1.00% CDSC on shares redeemed within 18 months, effective at the time of purchase. In instances where an Authorized Institution agrees to waive its receipt of the one-time commission, the CDSC on Class A Shares, generally, will be waived. 0.75% CDSC in the case of GS High Yield Floating Rate Fund, 18-month redemption period. 0.50% CDSC in the case of the Change to GS Short Duration Government, GS Short

Duration Tax-Free Funds and GS Short Duration Income Funds; 9-month redemption period.

** Outside the exceptions noted below, Goldman Sachs may pay a one-time commission to Authorized Dealers who initiate or are responsible for purchases of $1 million, ($250,000 in the case of Dynamic Municipal Income, and Income Builder; $500,000 in the case of High Yield Municipal Income) or more of shares (Class A) of the Funds equal to 1.00% of the amount under $3 million (0.75% in the case of the High Yield Floating Rate Fund), 0.50% of the next $2 million, and 0.25% thereafter and for purchases of $500,000 or more shares of Short Duration Tax Free, Short Duration Government and Short Duration Income equal to 0.50% of the amount under $3 million and 0.25% thereafter. Restrictions may apply. Please see the Funds’ prospectus for complete details.

† For the Enhanced Income Fund, the High Quality Floating Rate and the Short-Term Conservative Income Fund, Class A shares reflects no initial sales charge. Prior to July 30, 2018, the maximum initial sales charge applicable to Class A Shares was 1.50%. In addition, the 12b-1 Distribution Fee for Class A shares has been reduced to 0.15% from 0.25%.

†† R6, R and Inv. shares are generally available to retirement plans only. Investor and R6 Shares may also be made available to certain eligible fee-based programs that are approved by Goldman Sachs.

††† Class P Shares generally are available to the following investors:

• Clients of the Goldman Sachs Private Wealth Management that custody their positions at Goldman Sachs;

• Clients of The Goldman Sachs Trust Company, N.A. or The Goldman Sachs Trust Company of Delaware that custody their positions at Goldman Sachs;

• Clients of The Ayco Company, L.P. that either custody their positions at Goldman Sachs or with certain intermediaries that are authorized to offer Class P Shares; or

• Other investors at the discretion of Goldman Sachs Trust’s officers.

1. Effective January 22, 2021 the Goldman Sachs Imprint Emerging Markets Opportunities Fund was reorganized with and into the Goldman Sachs ESG Emerging Markets Equity Fund.

Effective July, 29, 2021 the Goldman Sachs Short Duration Income Fund was renamed the Goldman Sachs Short Duration Bond Fund.

Equity Funds, Specialty Funds and Total Portfolio Solutions

Breakpoint Sales Charge Dealer Allowance

Up to $49,999 5.50% 5.00%

$50,000 to $99,999 4.75% 4.00%

$100,000 to $249,999 3.75% 3.00%

$250,000 to $499,999 2.75% 2.25%

$500,000 to $999,999 2.00% 1.75%

$1 million and over 0.00* **

Fixed Income Funds


Up to $99,999 4.50% 4.00%

$100,000 to $249,999 3.00% 2.50%

$250,000 to $499,999 2.50% 2.00%

$500,000 to $999,999 2.00% 1.75%


• Commodity Strategy Fund• Emerging Markets Debt Fund

• Local Emerging Markets Debt Fund• High Yield Fund


Up to $99,999 3.75% 3.25%

$100,000 to $249,999 2.00% 1.75%

$250,000 and over 0.00%* **


Up to $99,999 3.75% 3.25%

$100,000 to $249,999 3.00% 2.50%

$250,000 to $499,999 2.50% 2.00%

$500,000 to $999,999 2.00% 1.75%


• Bond Fund• Core Fixed Income Fund• Government Income Fund• Global Core Fixed Income Fund• Income Fund

• Long Short Credit Strategies Fund• Strategic Income Fund• Investment Grade Credit Fund• Inflation Protection Securities Fund• US Mortgages Fund

Dynamic Municipal Income Fund

High Yield Floating Rate Fund


Up to $99,999 2.25% 2.00%

$100,000 to $249,999 1.75% 1.50%

$250,000 to $499,999 1.25% 1.00%

$500,000 to $999,999 1.00% 0.85%



Up to $499,999 1.50% 1.25%

$500,000 and over 0.00* **

• Short Duration Government Fund• Short Duration Bond Fund

CLASS A BREAKPOINTS AND C EXCEPTIONS

• Short Duration Tax-Free Fund


Up to $49,999 5.50% 5.00%

$50,000 to $99,999 4.75% 4.00%

$100,000 to $249,999 3.75% 3.00%

$250,000 or more 0.00* **

Fixed Income Funds (continued)

High Yield Municipal Fund


Up to $99,999 4.50% 4.00%

$100,000 to $249,999 3.00% 2.50%

$250,000 to $499,999 2.50% 2.00%

$500,000 or more 0.00* **

Income Builder Fund



September 2021

2. Government Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.Retail Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Institutional Funds: You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.



September 2021

Funds Summary

Fund Name Class Fund # NASDAQ CUSIP

GOLDMAN SACHS GROWTH EQUITY FUNDS

Capital Growth Fund A 807 GSCGX 38141W638

C 837 GSPCX 38142B344

Inst. 865 GSPIX 38142B146

Svc. 635 GSPSX 38142B138

Inv. 3199 GSPTX 38144N452

P 7196 GGGPX 38150B608

R 3198 GSPRX 38144N460

R6 4647 GSPUX 38147X390

Concentrated Growth Fund A 1528 GCGAX 38142Y187

C 1530 GCGCX 38142Y161

Inst. 1533 GCRIX 38142Y153

Inv. 3197 GGCTX 38145N667

P 7197 GACPX 38150B806

R 3196 GGCRX 38145N675

R6 4648 GCGUX 38147X382

Growth Opportunities Fund A 1129 GGOAX 38142Y104

C 1131 GGOCX 38142Y302

Inst. 1132 GGOIX 38142Y401

Svc. 1133 GGOSX 38142Y500

Inv. 3201 GGOTX 38144N346

P 7202 GGQPX 38150B699

R 3200 GGORX 38144N353

R6 4655 GGOUX 38148U601

Large Cap Growth A 851 GLCGX 38142B435

Insights Fund C 853 GLCCX 38142B260

Inst. 653 GCGIX 38142B385

Svc. 743 GSCLX 38142V377

Inv. 3209 GLCTX 38145N592

P 7203 GMZPX 38150B541

R 3208 GLCRX 38145N618

R6 4660 GLCUX 38147X523

Small Cap Growth Fund A 7154 GSBDX 38145C182

C 7155 GSBAX 38145C174

Inst. 7158 GSAJX 38145C141

Inv. 7157 GSAHX 38145C133

P 7160 GSADX 38145C125

R 7156 GSANX 38145C166

R6 7159 GSBEX 38145C158

Small Cap Growth A 2679 GSAOX 38143H225

Insights Fund C 2681 GSCOX 38143H191

Inst. 2682 GSIOX 38143H183

Inv. 3215 GSTOX 38145N535

P 7224 GSZPX 38150B350

R 3214 GSROX 38145N543

R6 4667 GINUX 38147X481


GOLDMAN SACHS GROWTH EQUITY FUNDS (continued)

Small/Mid Cap Growth Fund A 2516 GSMAX 38143H779

C 2518 GSMGX 38143H753

Inst. 2519 GSMYX 38143H746

Svc. 2520 GSMQX 38143H738

Inv. 3203 GTMTX 38144N320

P 7207 GSWPX 38150B327

R 3202 GTMRX 38144N338

R6 4670 GTMUX 38148U700

Strategic Growth Fund A 1124 GGRAX 38142Y609

C 1126 GGRCX 38142Y807

Inst. 1127 GSTIX 38142Y880

Svc. 1128 GSTSX 38142Y872

Inv. 3369 GSTTX 38144N387

P 7209 GSPPX 38150B285

R 3368 GSTRX 38144N395

R6 4672 GGRUX 38147X358

Technology Opportunities A 1179 GITAX 38142Y823

Fund C 1181 GITCX 38142Y849

Inst. 1182 GITIX 38142Y856

Svc. 1183 GITSX 38142Y864

Inv. 3733 GISTX 38145C489

P 7211 GSJPX 38150B228

R6 7148 GTORX 38148U148

GOLDMAN SACHS CORE EQUITY FUNDS

Rising Dividend A 3827 GSRAX 38145C315

Growth Fund C 3828 GSRCX 38145C299

Inst. 3831 GSRLX 38145C281

Inv. 3830 GSRIX 38145C273

P 7222 GMHPX 38150B426

R 3829 GSRRX 38145C265

R6 7163 GSRFX 38148U114

U.S. Equity ESG Fund A 3619 GAGVX 38144N288

C 3620 GCGVX 38144N270

I 3623 GINGX 38144N247

Inv. 3622 GIRGX 38144N254

P 7195 GALPX 38150C101

R 3621 GRGVX 38144N262

R6 4674 GDEUX 38147X341

Flexible Cap Fund A 3280 GALLX 38145C109

C 3281 GCLLX 38145C208

Inst. 3284 GILLX 38145C307

Inv. 3283 GSLLX 38145C505

P 7200 GGZPX 38150B780

R 3282 GRLLX 38145C406

R6 4651 GFCUX 38147X374



September 2021

Funds Summary


GOLDMAN SACHS CORE EQUITY FUNDS (continued)

Small Cap Equity A 071 GCSAX 38142V506

Insights Fund C 081 GCSCX 38142V704

Inst. 862 GCSIX 38142V803

Svc. 632 GCSSX 38141V886

Inv. 3211 GDSTX 38145N576

P 7223 GMAPX 38150B368

R 3210 GDSRX 38145N584

R6 4666 GCSUX 38147X499

US Equity Insights Fund A 817 GSSQX 38141W620

C 847 GSUSX 38142B278

Inst. 868 GSELX 38141W372

Svc. 638 GSESX 38141W463

Inv. 3205 GSUTX 38145N642

P 7227 GSEPX 38150B186

R 3204 GSURX 38145N659

R6 4675 GSEUX 38147X465

US Equity Dividend and A 2528 GSPAX 38143H712

Premium Fund C 2529 GSPQX 38143H696

Inst. 2530 GSPKX 38143H720

Inv. 3736 GVIRX 38145C513

P 7245 GSFPX 38150B194

Defensive Equity Fund A 7361 GDEAX 38150C598

C 7362 GDECX 38150C580

Inst. 7358 GDEIX 38150C572

Inv. 7364 GDEJX 38150C564

P 7360 GDEPX 38150C556

R 7363 GDERX 38150C549

R6 7359 GDESX 38150C531

GOLDMAN SACHS VALUE EQUITY FUNDS

Equity Income Fund A 814 GSGRX 38141W588

C 844 GSGCX 38142B310

Inst. 866 GSIIX 38141W414

Svc. 636 GSGSX 38141W422

Inv. 3192 GRGTX 38144N437

P 7199 GABPX 38150B798

R 3191 GRGRX 38144N445

R6 4654 GRGUX 38147X457

Large Cap Value Fund A 1213 GSLAX 38142Y815

C 1215 GSVCX 38142Y781

Inst. 1216 GSLIX 38142Y773

Svc. 1217 GSVSX 38142Y765

Inv. 3190 GSVTX 38144N411

P 7204 GMYPX 38150B533

R 3189 GSVRX 38144N429

R6 4661 GSVUX 38147X440

Large Cap Value A 456 GCVAX 38142V225

Insights Fund C 471 GCVCX 38142V191


GOLDMAN SACHS VALUE EQUITY FUNDS (continued)

Large Cap Value Inst. 641 GCVIX 38142V183

Insights Fund (cont.) Svc. 796 GCLSX 38141V175

Inv. 3207 GCVTX 38145N626

P 7220 GMXPX 38150B525

R 3206 GCVRX 38145N634

R6 4662 GCVUX 38147X515

Mid Cap Value Fund A 078 GCMAX 38142V720

C 080 GCMCX 38142V696

Inst. 864 GSMCX 38141W398

Svc. 634 GSMSX 38141W380

Inv. 3193 GCMTX 38144N361

P 7205 GMPPX 38150B475

R 3367 GCMRX 38144N379

R6 4663 GCMUX 38147X432

Small Cap Value Fund A 819 GSSMX 38141W612

C 849 GSSCX 38142B336

Inst. 651 GSSIX 38142V209

Svc. 741 GSSSX 38142V308

Inv. 3195 GSQTX 38144N296

P 7206 GSYPX 38150B343

R 3194 GSQRX 38144N312

R6 4668 GSSUX 38147X424

Small Cap Value A 2683 GSATX 38143H282

Insights Fund C 2685 GSCTX 38143H266

Inst. 2686 GSITX 38143H241

Inv. 3213 GTTTX 38145N550

P 7225 GSXPX 38150B335

R 3212 GTTRX 38145N568

R6 4669 GTTUX 38147X473

Small/Mid Cap Value Fund A 3922 GMVAX 38147X101

C 3923 GMVCX 38147X200

Inst. 3926 GSMVX 38147X309

Inv. 3925 GMVIX 38147X408

P 7208 GSVPX 38150B319

R 3924 GMVRX 38147X507

R6 4671 GMCUX 38147X416

Focused Value Fund A 4007 GFVAX 38147X689

C 4008 GFVCX 38147X671

Inst. 4619 GFVSX 38147X630

Inv. 4010 GFVIX 38147X663

P 7201 GGYPX 38150B772

R 4009 GFVRX 38147X655

R6 4620 GFVUX 38147X648

GOLDMAN SACHS INTERNATIONAL EQUITY FUNDS

International Equity A 2675 GSAKX 38144N502

Income Fund C 2677 GSCKX 38144N700

Inst. 2678 GSIKX 38144N809

Inv. 3223 GSTKX 38145N444



September 2021

Funds Summary


GOLDMAN SACHS INTERNATIONAL EQUITY FUNDS (continued)

International Equity P 7226 GSNPX 38150B269

Income Fund (cont.) R 3222 GSRKX 38145N451

R6 4673 GSUKX 38148U478

International Equity Dividend A 3295 GIDAX 38144N486

and Premium Fund C 3296 GIDCX 38144N478

Inst. 3297 GIDHX 38144N494

Inv. 3737 GIRVX 38145C547

P 7239 GGHPX 38150B616

International Equity ESG A 815 GSIFX 38141W596

Fund C 845 GSICX 38142B328

Inst. 867 GSIEX 38141W448

Svc. 637 GSISX 38141W430

Inv. 3726 GIRNX 38145C588

P 7216 GTFPX 38150B152

R6 4653 GSIWX 38148U486

International Equity A 073 GCIAX 38142V878

Insights Fund C 083 GCICX 38142V852

Inst. 863 GCIIX 38142V845

Svc. 633 GCISX 38142V837

Inv. 3217 GCITX 38145N519

P 7218 GGFPX 38150B590

R 3216 GCIRX 38145N527

R6 4657 GCIUX 38147X242

International Small Cap A 3170 GICAX 38144N627

Insights Fund C 3171 GICCX 38144N619

Inst. 3172 GICIX 38144N593

Inv. 3730 GIRLX 38145C554

P 7219 GGDPX 38150B574

R6 4659 GICUX 38147X234

GQG Partners International A 4941 GSIHX 38147N327

Opportunities Fund C 4942 GSILX 38147N319

Inst. 4945 GSIMX 38147N293

Inv. 4944 GSINX 38147N285

P 7252 GGIPX 38147N228

R 4943 GSIQX 38147N277

R6 4946 GSIYX 38147N269

GOLDMAN SACHS EMERGING MARKETS EQUITY FUNDS

China Equity Fund A 880 GSAGX 38141W570

C 850 GSACX 38142B294

Inst. 654 GSAIX 38141W455

Inv. 3937 GSAEX 38147X804

P 7213 GMEPX 38150B400

R6 7161 GSAFX 38148U130

Emerging Markets A 831 GEMAX 38142B450

Equity Fund C 833 GEMCX 38142B252

Inst. 652 GEMIX 38142B369

Svc. 742 GEMSX 38142B351

Inv. 3729 GIRMX 38145C596

P 7214 GAHPX 38150B855

R6 4649 GEMUX 38147X226


GOLDMAN SACHS EMERGING MARKETS EQUITY FUNDS

(continued)

Emerging Markets Equity A 3167 GERAX 38144N585

Insights Fund C 3168 GERCX 38144N577

Inst. 3169 GERIX 38144N569

Inv. 3731 GIRPX 38145C562

P 7215 GAGPX 38150B848

ESG Emerging Markets A 7261 GEBAX 38150C861

Equity Fund1 C 7262 GEBCX 38150C853

Inst. 7265 GEBIX 38150C846

Inv. 7264 GEBNX 38150C838

P 7279 GEPPX 38150C796

R 7263 GEBRX 38150C820

R6 7266 GEBSX 38150C812

Imprint Emerging Markets A 3800 GSYAX 38145L869

Opportunities Fund1 C 3801 GSYCX 38145L851

Inst. 3803 GSYIX 38145L844

Inv. 3802 GSYRX 38145L836

P 7221 GMKPX 38150B442

R6 7162 GSYFX 38148U122

GOLDMAN SACHS TAX AWARE PORTFOLIOS

International Tax-Managed A 3292 GATMX 38144N528

Equity Fund C 3293 GCTMX 38144N510

Inst. 3294 GHTMX 38144N536

Inv. 3735 GITRX 38145C539

P 7241 GGCPX 38150B566

US Tax-Managed A 1250 GCTAX 38142Y674

Equity Fund C 1252 GCTCX 38142Y658

Inst. 1253 GCTIX 38142Y641

Svc. 1254 GCTSX 38142Y633

Inv. 3734 GQIRX 38145C521

P 7246 GSDPX 38150B178

GOLDMAN SACHS FIXED INCOME SHORT DURATION AND

GOVERNMENT FUNDS

Enhanced Income Fund† A 1996 GEIAX 38142Y534

Admin. 1279 GEADX 38142Y526

Inst. 1999 GEIIX 38142Y518

Inv. 3721 GHIRX 38145L877

P 7176 GAEPX 38150B822

R6 4630 GEIUX 38147X622

Government Income Fund A 812 GSGOX 38141W604

C 842 GSOCX 38142B211

Inst. 657 GSOIX 38142V761

Svc. 658 GSOSX 38142V753

Inv. 3244 GSOTX 38145N345

P 7178 GGTPX 38150B723

R 3243 GSORX 38145N352

R6 4633 GSOUX 38147X572

High Quality Floating A 677 GSAMX 38141W703

Rate Fund† Inst. 450 GSARX 38141W208



September 2021

Funds Summary


GOLDMAN SACHS FIXED INCOME SHORT DURATION AND

GOVERNMENT FUNDS (continued)

High Quality Floating Svc. 452 GSASX 38141W877

Rate Fund† (cont.) Inv. 3241 GTATX 38145N378

P 7179 GGOPX 38150B673

R6 4636 GTAUX 38147X614

Inflation Protected A 3153 GSAPX 38144N866

Securities Fund C 3154 GSCFX 38144N858

Inst. 3155 GSIPX 38144N841

Inv. 3252 GSTPX 38145N253

P 7183 GGJPX 38150B624

R 3251 GSRPX 38145N261

R6 4638 GSRUX 38147X580

Short Duration Bond Fund1 A 3832 GDIAX 38145L646

C 3833 GDICX 38145L638

Inst. 3836 GDFIX 38145L620

Inv. 3835 GSSRX 38145L612

P 7187 GMCPX 38150B384

R 3834 GIFRX 38145L596

R6 4644 GDIUX 38147X564

Short Duration A 809 GSSDX 38142B476

Government Fund C 839 GSDCX 38142B237

Inst. 447 GSTGX 38141W307

Svc. 449 GSDSX 38141W869

Inv. 3242 GTDTX 38145N360

P 7186 GMDPX 38150B392

R6 4643 GSTUX 38147X598

Short-Term Conservative A 4043 GPAPX 38148U288

Income Fund† Admin 3929 GPPAX 38147X606

Inst. 3928 GPPIX 38147X705

Inv. 7268 GPPOX 38147X218

P 7146 GMBPX 38150B376

R6 7189 GPPSX 38145L133

Pref. 4044 GPPPX 38148U270

GOLDMAN SACHS FIXED INCOME MULTI-SECTOR FUNDS

Core Fixed Income Fund A 811 GCFIX 38142B419

C 841 GCFCX 38142B229

Inst. 459 GSFIX 38141W810

Svc. 461 GSCSX 38141W786

Inv. 3246 GDFTX 38145N329

P 7173 GAKPX 38150B889

R 3245 GDFRX 38145N337

R6 4627 GCFUX 38147X333

Bond Fund A 2670 GSFAX 38143H449

C 2672 GSFCX 38143H423

Inst. 2650 GSNIX 38143H415

Svc. 2651 GSNSX 38143H399

Inv. 3248 GSNTX 38145N295

P 7172 GMVPX 38150B509

R 3247 GSNRX 38145N311

R6 4625 GSFUX 38147X556


GOLDMAN SACHS FIXED INCOME MULTI-SECTOR FUNDS

(continued)

Global Core Fixed A 818 GSGIX 38141W109

Income Fund C 848 GSLCX 38142B187

Inst. 869 GSGLX 38141W737

Svc. 639 GGISX 38141W729

Inv. 3718 GBIRX 38144N155

P 7177 GGXPX 38150B764

R6 4632 GBIUX 38147X549

Income Fund A 2494 GSCHX 38150C754

C 2495 GSCJX 38150C747

Inst. 2491 GSNCX 38150C739

Inv. 2497 GSCMX 38150C721

P 2493 GSCUX 38150C689

R 2496 GSCNX 38150C713

R6 2492 GSCRX 38150C697

Strategic Income Fund A 3712 GSZAX 38145C661

C 3713 GSZCX 38145C653

Inst. 3716 GSZIX 38145C646

Inv. 3715 GZIRX 38145C638

P 7190 GSOPX 38150B277

R 3714 GSZRX 38145C620

R6 4645 GSZUX 38147X531

GOLDMAN SACHS FIXED INCOME MUNICIPAL/TAX-FREE FUNDS

High Yield Municipal Fund A 1255 GHYAX 38142Y625

C 1257 GHYCX 38142Y591

Inst. 1258 GHYIX 38142Y583

Inv. 3720 GYIRX 38144N213

P 7181 GGLPX 38150B640

R6 7142 GHYSX 38145L216

Dynamic Municipal A 816 GSMIX 38141W828

Income Fund C 846 GSMUX 38142B195

Inst. 144 GSMTX 38142V746

Svc. 145 GSMEX 38142V738

Inv. 3719 GUIRX 38144N221

P 7174 GAJPX 38150B871

R6 7140 GYISX 38145L190

Short Duration A 810 GSDTX 38142B492

Tax Free Fund C 840 GSTCX 38142B245

Inst. 453 GSDUX 38141W406

Svc. 455 GSFSX 38141W885

Inv. 3717 GDIRX 38144N239

P 7188 GANPX 38150C309

R6 7141 GDUSX 38145L182

GOLDMAN SACHS FIXED INCOME SINGLE-SECTOR FUNDS

Emerging Markets A 2050 GSDAX 38143H803

Debt Fund C 2609 GSCDX 38143H456

Inst. 2051 GSDIX 38143H886

Inv. 3722 GSIRX 38144N171



September 2021

Funds Summary


GOLDMAN SACHS FIXED INCOME SINGLE-SECTOR FUNDS

(continued)

Emerging Markets P 7175 GAIPX 38150B863

Debt Fund (cont) R6 4629 GSIUX 38148U882

High Yield Fund A 808 GSHAX 38141W653

C 838 GSHCX 38142B179

Inst. 527 GSHIX 38141W679

Svc. 528 GSHSX 38141W661

Inv. 3250 GSHTX 38145N279

P 7182 GGMPX 38150B657

R 3249 GSHRX 38145N287

R6 4637 GSHUX 38148U874

High Yield Floating A 3707 GFRAX 38145C471

Rate Fund C 3708 GFRCX 38145C463

Inst. 3711 GSFRX 38145C455

Inv. 3710 GFRIX 38145C448

P 7180 GGNPX 38150B665

R6 7144 GFRSX 38145L166

Investment Grade CreditFund A 2054 GSGAX 38143H852

Inst. 2055 GSGDX 38143H845

Inv. 3724 GTIRX 38144N189

P 7192 GGBPX 38150B558

R6 4640 GTIUX 38148U866

Local Emerging Markets A 3285 GPAPX 38145N105

Debt Fund C 3286 GCMDX 38145N204

Inst. 3287 GIMDX 38145N303

Inv. 3725 GLIRX 38144N163

P 7184 GMWPX 38150B517

R6 7145 GIMSX 38145L174

US Mortgages Fund A 2052 GSUAX 38143H878

Inst. 2053 GSUIX 38143H860

Inv. 3723 GGIRX 38144N197

P 7193 GSBPX 38150B160

R6 4646 GGIUX 38148U858

GOLDMAN SACHS DAILY LIQUID ALTERNATIVES FUNDS

Absolute Return A 3275 GARTX 38145N246

Tracker Fund C 3276 GCRTX 38145N238

Inst. 3279 GJRTX 38145N220

Inv. 3278 GSRTX 38145N113

P 7230 GSGPX 38150B202

R 3277 GRRTX 381415N121

R6 4623 GRRTX 38147X325

Alternative Premia Fund A 3624 GDAFX 38145L505

C 3625 GDCFX 38145L604

Inst. 3628 GDIFX 38145L885

Inv. 3627 GDHFX 38145L802

P 7231 GSSPX 38150B301

R 3626 GDRFX 38145L703

R6 4628 GDHUX 38147X291


GOLDMAN SACHS DAILY LIQUID ALTERNATIVES FUNDS

(continued)

Long Short Credit A 3917 GSAUX 38145L273

Strategies Fund C 3918 GSAVX 38145L265

Inst. 3921 GSAWX 38145L257

Inv. 3920 GSAYX 38145L240

P 7185 GMUPX 38150B491

R6 7147 GSSAX 38145L141

ManagedFuture A 3817 GMSAX 38145C422

Strategy Fund C 3818 GMSCX 38145C414

Inst. 3821 GMSSX 38145C398

Inv. 3820 GFIRX 38145C380

P 7242 GMQPX 38150B483

R 3819 GFFRX 38145C372

Multi-Manager A 3881 GMAMX 38147N103

Alternatives Fund C 3882 GMCMX 38147N202

Inst. 3880 GSMMX 38147N301

Inv. 3884 GIMMX 38147N400

P 7253 GMMPX 38147N210

R 3883 GRMMX 38147N509

R6 7171 GSMFX 38147N236

GOLDMAN SACHS ALTERNATIVE COMMODITIES FUNDS

Commodity Strategy Fund A 2673 GSCAX 38143H373

C 2674 GSCCX 38143H365

Inst. 2653 GCCIX 38143H381

Inv. 3240 GCCTX 38145N386

P 7233 GGRPX 38150B707

R 3239 GCCRX 38145N394

R6 4626 GCCUX 38147X317

GOLDMAN SACHS ALTERNATIVES REAL ESTATE/

INFRASTRUCTURE FUNDS

Clean Energy Income Fund A 7294 GCEBX 38150C671

C 7295 GCEGX 38150C663

Inst. 7298 GCEDX 38150C655

Inv. 7297 GCEJX 38150C648

P 7350 GCEPX 38150C614

R 7296 GCEHX 38150C630

R6 7299 GCEEX 38150C622

Global Infrastructure Fund A 4017 GGIAX 38148U833

C 4018 GGICX 38148U825

Inst. 4021 GGIDX 38148U817

Inv. 4020 GGINX 38148U79

P 7235 GGWPX 38150B756

R 4019 GGIEX 38148U783

R6 4022 GGIJX 38148U775

Global Real Estate A 4011 GARGX 38148U767

Securities Fund C 4012 GARKX 38148U759

Inst. 4015 GARSX 38148U742

Inv. 4014 GARJX 38148U734



September 2021

Funds Summary


GOLDMAN SACHS TOTAL PORTFOLIO SOLUTIONS FUNDS

Balanced Strategy Portfolio A 076 GIPAX 38142V688

C 086 GIPCX 38142V662

Inst. 647 GIPIX 38142V548

Svc. 747 GIPSX 38142V530

Inv. 3225 GIPTX 38145N790

P 7232 GAOPX 38150C408

R 3224 GIPRX 38145N816

R6 4624 GIPUX 38148U106

Growth and Income A 074 GOIAX 38142V654

Strategy Portfolio C 084 GOICX 38142V639

Inst. 655 GOIIX 38142V522

Svc. 745 GOISX 38142V514

Inv. 3227 GPITX 38145N774

P 7237 GGSPX 38150B715

R 3226 GPIRX 38145N782

R6 4634 GOIUX 38148U205

Growth Strategy Portfolio A 075 GGSAX 38142V621

C 085 GGSCX 38142V597

Inst. 656 GGSIX 38142V498

Svc. 746 GGSSX 38142V480

Inv. 3229 GGSTX 38145N758

P 7238 GGPPX 38150B681

R 3228 GGSRX 38145N766

R6 4631 GGSUX 38148U304

Dynamic Global Equity A 077 GAPAX 38142V571

Fund C 087 GAXCX 38142V555

Inst. 645 GAPIX 38142V472

Svc. 825 GAPSX 38142V464

Inv. 3231 GAPTX 38145N733

P 7234 GADPX 38150B814

R 3230 GAPRX 38145N741

R6 4631 GAPUX 38148U403

Goldman Sachs Target Date A 7024 GTAHX 38147N855

Retirement Portfolio Inst. 7000 GTIHX 38147N848

Svc. 7001 GTVHX 38147N830

Inv. 7026 GTMHX 38147N822

R 7025 GTRHX 38147N814

R6 7002 GTZHX 38147N798

Goldman Sachs Target Date A 7027 GTADX 38147N780

2025 Portfolio Inst. 7003 GTIFX 38147N772

Svc. 7004 GTVFX 38147N764

Inv. 7029 GTMFX 38147N756

R 7028 GTRDX 38147N749

R6 7005 GTZFX 38147N731


GOLDMAN SACHS ALTERNATIVES REAL ESTATE/

INFRASTRUCTURE FUNDS (continued)

Global Real Estate P 7236 GGUPX 38150B731

Securities Fund (cont.) R 4013 GARHX 38148U726

R6 4016 GARVX 38148U718

International Real Estate A 2617 GIRAX 38143H589

Securities Fund C 2618 GIRCX 38143H571

Inst. 2607 GIRIX 38143H563

Inv. 3238 GIRTX 38145N410

P 7240 GGEPX 38150B582

R6 4639 GIRUX 38147X283

Energy Infrastructure Fund A 7129 GLEAX 38148U262

C 7130 GLECX 38148U254

Inst. 7133 GLESX 38148U221

Inv. 7132 GLESX 38148U213

P 7228 GAMPX 38150C200

R 7131 GLESX 38148U247

R6 7134 GLESX 38148U239

MLP Energy A 7129 GLEAX 38148U262

Infrastructure Fund C 7130 GLECX 38148U254

Inst. 7133 GLESX 38148U221

Inv. 7132 GLESX 38148U213

P 7229 GMNPX 38150B459

R 7131 GLESX 38148U247

R6 7164 GLPSX 38150C887

Real Estate Securities Fund A 072 GREAX 38142V829

C 082 GRECX 38142V795

Inst. 649 GREIX 38142V787

Svc. 829 GRESX 38142V779

Inv. 3237 GRETX 38145N428

P 7243 GMJPX 38150B434

R 3236 GRERX 38145N436

GOLDMAN SACHS PORTFOLIO SOLUTIONS DIVERSIFICATION/

COMPLETION FUNDS

Satellite Strategies Portfolio A 2400 GXSAX 38143H357

C 2401 GXSCX 38143H340

Inst. 2402 GXSIX 38143H332

Svc. 3350 GXSSX 38145L406

Inv. 3235 GXSTX 38145N683

P 7244 GMFPX 38150B418

R 3234 GXSRX 38145N691

R6 4642 GXSUX 38148U502

GOLDMAN SACHS PORTFOLIO SOLUTIONS INCOME FUNDS

Income Builder Fund A 070 GSBFX 38141W562

C 830 GSBCX 38142B286

Inst. 861 GSBIX 38142B161

Inv. 3727 GKIRX 38145C497

P 7217 GGKPX 38150B632

R6 4656 GSBUX 38148U809



September 2021

Funds Summary


GOLDMAN SACHS TOTAL PORTFOLIO SOLUTIONS FUNDS

(continued)

Goldman Sachs Target Date A 7030 GTAJX 38147N723

2030 Portfolio Inst. 7006 GTIJX 38147N715

Svc. 7007 GTVJX 38147N699

Inv. 7032 GTMJX 38147N681

R 7031 GTRJX 38147N673

R6 7008 GTZJX 38147N665

Goldman Sachs Target Date A 7033 GTALX 38147N657

2035 Portfolio Inst. 7009 GTIOX 38147N640

Svc. 7010 GTVOX 38147N632

Inv. 7035 GTMPX 38147N624

R 7034 GTROX 38147N616

R6 7011 GTZLX 38147N590

Goldman Sachs Target Date A 7036 GTAMX 38147N582

2040 Portfolio Inst. 7012 GTIMX 38147N566

Svc. 7013 GTVMX 38147N566

Inv. 7038 GTMMX 38147N558

R 7037 GTRMX 38147N541

R6 7014 GTZMX 38147N533

Goldman Sachs Target Date A 7039 GTAQX 38147N525

2045 Portfolio Inst. 7015 GTIQX 38147N517

Svc. 7016 GTVEX 38147N491

Inv. 7041 GTMQX 38147N483

R 7040 GTREX 38147N475

R6 7017 GTZQX 38147N467

Goldman Sachs Target Date A 7042 GTASX 38147N459

2050 Portfolio Inst. 7018 GTIPX 38147N442

Svc. 7019 GTVSX 38147N434

Inv. 7044 GTMAX 38147N426

R 7043 GTRSX 38147N418

R6 7020 GTZSX 38147N392

Goldman Sachs Target Date A 7045 GTANX 38147N384

2055 Portfolio Inst. 7021 GTIWX 38147N376

Svc. 7022 GTVIX 38147N368

Inv. 7047 GTMWX 38147N350

R 7046 GTRZX 38147N343

R6 7023 GTZWX 38147N335

Goldman Sachs Target Date A 7255 GTBAX 38147N194

2060 Portfolio Inst. 7258 GTBCX 38147N186

Svc. 7259 GTBSX 38147N178

Inv. 7257 GTBIX 38147N145

R 7256 GTBRX 38147N160

R6 7260 GTBBX 38147N152


GOLDMAN SACHS TAX/AWARE PORTFOLIOS

Goldman Sachs Enhanced A 3322 GADGX 38143H167

Dividend Global Equity Inst. 3323 GIDGX 38143H175

R6 7153 GRGDX 38148U197

P 7198 GAFPX 38150B830

Goldman Sachs Tax- A 3320 TAGGX 38142B120

Advantaged Global Equity Inst. 3321 TIGGX 38142B112

R6 7152 TRGGX 38148U189

P 7210 GSKPX 38150B236

GOLDMAN SACHS MONEY MARKET FUNDS

Goldman Sachs Financial Inst. 4683 FIRXX 38148U692

Square Federal Instruments Select 4687 FIJXX 38148U635

Fund Pref. 4686 FIHXX 38148U650

Capital 4688 FIKXX 38148U676

Admin. 4684 FIOXX 38148U684

Prem. 4689 FIQXX 38148U643

Svc. 4685 FILXX 38148U627

CMS 4690 FIWXX 38148U668

Goldman Sachs Financial Inst. 465 FGTXX 38141W273

Square Government Fund Select 1237 GSGXX 38142Y716

Pref. 488 GPGXX 38141W240

Capital 1859 GCGXX 38143H506

Admin. 466 FOAXX 38141W265

Prem. 3511 GGPXX 38145C836

Svc. 467 FOSXX 38141W257

Res. 3518 GVRXX 38145C810

CMS 3525 GVCXX 38145C828

R6 4676 FGGXX 38148U619

A 4023 FSOXX 38148U452

C 4024 FSGXX 38148U445

Goldman Sachs Financial Inst. 474 FSMXX 38141W232

Square Money Market Fund Select 1238 GSMXX 38142Y740

Pref. 490 GPMXX 38141W190

Capital 1860 GCKXX 38143H209

Admin. 475 FADXX 38141W224

Prem. 3513 GPRXX 38145C802

Svc. 476 FSVXX 38141W216

Res. 3520 GREXX 38145C885

CMS 3527 GSCXX 38145C877

Goldman Sachs Financial Inst. 462 FPOXX 38141W364

Square Prime Obligations Select 1235 GSPXX 38142Y757

Fund Pref. 487 GPPXX 38141W331

Capital 1857 GCPXX 38143H100

Admin. 463 FBAXX 38141W356

Prem. 3510 GOPXX 38145C869

Svc. 464 FBSXX 38141W349

Res. 3517 GBRXX 38145C844

CMS 3524 GFOXX 38145C851



September 2021

Funds Summary


GOLDMAN SACHS MONEY MARKET FUNDS (continued)

Goldman Sachs Financial Inst. 520 FTIXX 38142B500

Square Treasury Instruments Select 1242 GSIXX 38142Y724

Fund Pref. 523 GPIXX 38142B807

Capital 1863 GCIXX 38143H407

Admin. 521 FRAXX 38142B609

Prem. 3516 GIPXX 38145C737

Svc. 522 FYSXX 38142B708

Res. 3523 GIRXX 38145C711

CMS 3530 GICXX 38145C729

Goldman Sachs Financial Inst. 468 FTOXX 38141W323

Square Treasury Obligations Select 1236 GSOXX 38142Y732

Fund Pref. 489 GPOXX 38141W281

Capital 1858 GCTXX 38143H308

Admin. 469 FGAXX 38141W315

Prem. 3512 GTPXX 38145C794

Svc. 470 FYAXX 38141W299

Res. 3519 GTRXX 38145C778

CMS 3526 GTOXX 38145C786

Goldman Sachs Financial Inst. 520 FEDXX 38142B880

Square Treasury Solutions Select 1242 GSFXX 38142Y690

Fund Pref. 523 GPFXX 38142B856

Capital 1863 GCFXX 38143H605

Admin. 521 FVAXX 38142B872

Prem. 3516 GFPXX 38145C760

Svc. 522 FVSXX 38142B864

Res. 3523 GFRXX 38145C745

CMS 3530 GFCXX 38145C752

Goldman Sachs Investor Inst. 4694 FMJXX 38148U577

Money Market Fund Admin. 4695 FMKXX 38148U569

Svc. 4792 FHSXX 38148U296

Res. 4793 FHRXX 38148U312

CMS 4794 FHMXX 38148U320

A 4696 FMEXX 38148U593

C 4697 FMGXX 38148U585

Government Funds Institutional Funds Retail Funds

GS Financial Square Government Fund

GS Financial Square Federal Instruments Fund

GS Financial Square Treasury Instruments Fund

GS Financial Square Treasury Obligations Fund

GS Financial Square Treasury Solutions Fund

GS Financial Square Money Market Fund

GS Financial Square Prime Obligations Fund

GS Investor Money Market Fund

GS Investor Tax-Exempt Money Market

Fund


GOLDMAN SACHS MONEY MARKET FUNDS (continued)

Goldman Sachs Investor Inst. 477 FTXXX 38141W182

Tax-Exempt Money Market Select 1239 GSTXX 38142Y682

Fund Pref. 491 GPTXX 38141W158

Capital 1861 GCXXX 38143H704

Admin. 478 FEAXX 38141W174

Prem. 3514 GXPXX 38145C695

Svc. 479 FESXX 38141W166

Res. 3521 GXRXX 38145C679

CMS 3528 GXCXX 38145C687

A 4025 FKIXX 38148U353

C 4026 FCYXX 38148U346

Goldman Sachs Funds

Pricing Guide and Fund Summary

September 2021


SUMMARY OF PRICING FEATURES

Please see prospectus and the following charts for more information.

Contact your Financial Advisor for more information on Goldman Sachs Interval Funds.

MaximumFront-End Sales Load

ContingentDeferredSales Charge

Conversion toA Shares

Maximum DealerReallowance

Class Fee toIntermediary (bps)

Up-frontCommissions

Minimum /MaximumInvestment

Share RepurchaseFrequency

Class A

(front-end load)

5.75% N/A N/A 5.50% 0.25% accrues

immediately, paid

monthly

N/A $2,500 / None Quarterly

Class C

(level load)

N/A 1% if shares are

tendered for

repurchase within

12 months of

purchase

N/A N/A 1.00% begins

accruing in month

13, paid monthly

1.00% $2,500 / None Quarterly

Class I N/A N/A N/A N/A N/A N/A $2,500 / None Quarterly

Class L 4.25% N/A N/A N/A 0.50% accrues

immediately, paid

monthly


Class W N/A N/A N/A N/A 0.25% accrues

immediately, paid

monthly


Class P N/A N/A N/A N/A N/A N/A None / None Quarterly



September 2021

Pricing Guide

Interval Fund


Up to $99,999 5.75% 5.50%

$100,000 to $249,999 4.75% 4.50%

$250,000 to $499,999 3.75% 3.50%

$500,000 to $999,999 2.50% 2.25%

$1 million and over 1.00% 1.00%

• Real Estate Diversified Income Fund

CLASS A BREAKPOINTS

Interval Fund


Up to $249,999 4.25% 3.50%

$250,000 to $499,999 3.25% 2.50%

$500,000 to $999,999 2.00% 1.50%

$1 million and over 1.00% 1.00%

• Real Estate Diversified Income Fund

CLASS L BREAKPOINTS

Interval Funds Summary


GOLDMAN SACHS INTERVAL FUNDS

Real Estate Diversified Income Fund A 7280 GSRDX 38149R102

C 7281 GSREX 38149R201

I 7282 GSRHX 38149R409

W 7283 GSRQX 38149R805

L 7284 GSRJX 38149R508

P 7411 GCADX 38149R888



September 2021

NOT FDIC-INSURED May Lose Value No Bank GuaranteePRICINGQFU/10-21

For more information about Goldman Sachs Target Date Portfolios please visit GSAMFUNDS.com/TargetDate.

Target Date Funds are subject to the risks associated with the underlying funds in which they invest. These risks change over time as the

fund’s asset allocation strategy adjusts as it approaches its target date. There is no assurance any target date fund will achieve its

investment objective. The principal value of an investment in a target date fund is not guaranteed at any time including at its target date.

GQG Partners is the sub-adviser to the GS GQG Partners International Opportunities Fund.

You may also visit our web site at www.GSAMFUNDS.com

A summary prospectus, if available, or a Prospectus for the Fund containing more information may be obtained from your Authorized

Institution or from Goldman Sachs & Co. LLC by calling (retail – 1-800-526-7384) (institutional – 1-800-621-2550). Please consider a fund’s

objectives, risks, and charges and expenses, and read the summary prospectus, if available, and the Prospectus carefully before investing.

The summary prospectus, if available, and the Prospectus contains this and other information about the Fund.

Goldman Sachs & Co. LLC is the distributor of the Goldman Sachs Funds.

© 2021 Goldman Sachs. All Rights Reserved. Date of first use: October 1, 2021. 218297-TMPL-10/2020.

http://www.gsamfunds.com/

Goldman Sachs Funds Pricing Guide and Fund Summary

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