Goldman Sachs Updates Preferred Stock & Capital Securities List
Ticker: GSCE · Form: 8-K · Filed: Jan 19, 2024 · CIK: 886982
| Field | Detail |
|---|---|
| Company | Goldman Sachs Group INC (GSCE) |
| Form Type | 8-K |
| Filed Date | Jan 19, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: capital-structure, preferred-stock, debt, corporate-governance
TL;DR
**Goldman Sachs just updated its list of preferred stock and capital securities, a routine but important transparency filing.**
AI Summary
On January 12, 2024, Goldman Sachs Group Inc. filed an 8-K to update its list of outstanding securities, including its 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K, and 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II. This filing is a routine update of their financial instruments, which matters to investors as it provides transparency on the company's capital structure and the types of preferred stock and debt it has issued, impacting potential returns and risk for shareholders.
Why It Matters
This filing provides a current snapshot of Goldman Sachs's outstanding preferred stock and capital securities, which is crucial for investors to understand the company's financial obligations and capital structure.
Risk Assessment
Risk Level: low — This 8-K is a routine informational filing about existing securities and does not indicate new risks or significant changes to the company's financial health.
Analyst Insight
A smart investor would note this filing as a routine update on Goldman Sachs's capital structure, confirming the existence and terms of specific preferred stock and capital securities, but it doesn't signal an immediate need for action.
Key Numbers
- 6.375% — Fixed-to-Floating Rate (Interest rate for Series K Non-Cumulative Preferred Stock)
- 5.793% — Fixed-to-Floating Rate (Interest rate for Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II)
Key Players & Entities
- Goldman Sachs Group Inc. (company) — the registrant filing the 8-K
- 6.375% (dollar_amount) — interest rate for Series K Preferred Stock
- 5.793% (dollar_amount) — interest rate for Normal Automatic Preferred Enhanced Capital Securities
- January 12, 2024 (date) — date of earliest event reported
Forward-Looking Statements
- Goldman Sachs will continue to issue similar routine updates on its capital structure. (Goldman Sachs Group Inc.) — high confidence, target: 2025-01-19
FAQ
What is the purpose of this 8-K filing by Goldman Sachs Group Inc.?
The purpose of this 8-K filing is to report on 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Other Events,' specifically updating information regarding its outstanding preferred stock and capital securities as of January 12, 2024.
What specific types of securities are mentioned in this filing?
The filing specifically mentions 'Depositary Shares, Each Representing 1/1,000th Interest in a Share of 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K' and '5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II'.
What is the interest rate for the Series K Preferred Stock mentioned?
The interest rate for the Series K Preferred Stock mentioned is 6.375% and it is a Fixed-to-Floating Rate Non-Cumulative Preferred Stock.
What is the interest rate for the Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II?
The interest rate for the Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II is 5.793% and it is a Fixed-to-Floating Rate security.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 12, 2024.
Filing Stats: 654 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-01-19 17:25:58
Filing Documents
- d728128d8k.htm (8-K) — 38KB
- 0001193125-24-011362.txt ( ) — 241KB
- gs-20240112.xsd (EX-101.SCH) — 6KB
- gs-20240112_def.xml (EX-101.DEF) — 16KB
- gs-20240112_lab.xml (EX-101.LAB) — 29KB
- gs-20240112_pre.xml (EX-101.PRE) — 18KB
- d728128d8k_htm.xml (XML) — 15KB
01 Other Events
Item 8.01 Other Events. The independent directors of the Board have designated the appointment of David Viniar as the new independent Lead Director, and, as recommended by the Governance Committee, the Board has approved Mr. Viniar as Chair of the Governance Committee and the appointment of Thomas Montag as Chair of the Risk Committee. These appointments will be effective upon Mr. Ogunlesi's retirement. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE GOLDMAN SACHS GROUP, INC. (Registrant) Date: January 19, 2024 By: /s/ Kathryn H. Ruemmler Name: Kathryn H. Ruemmler Title: Chief Legal Officer and General Counsel