Goldman Sachs Issues New Preferred Capital Securities

Ticker: GSCE · Form: 8-K · Filed: Jun 28, 2024 · CIK: 886982

Goldman Sachs Group INC 8-K Filing Summary
FieldDetail
CompanyGoldman Sachs Group INC (GSCE)
Form Type8-K
Filed DateJun 28, 2024
Risk Levellow
Pages2
Reading Time2 min
Sentimentneutral

Sentiment: neutral

Topics: capital-raise, preferred-stock, debt-issuance

Related Tickers: GS

TL;DR

GS just dropped new preferred stock, raising capital.

AI Summary

On June 28, 2024, Goldman Sachs Group Inc. filed an 8-K to report the issuance of its 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II. This filing also includes exhibits related to various preferred stock series and medium-term notes.

Why It Matters

This filing indicates Goldman Sachs is raising capital through preferred securities, which can impact its financial leverage and capital structure.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a capital issuance, not indicative of immediate financial distress.

Key Numbers

Key Players & Entities

FAQ

What is the specific amount of capital raised by the issuance of the 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities?

The filing does not specify the exact dollar amount of capital raised by this issuance.

When does the fixed rate period for these securities end and the floating rate period begin?

The filing does not specify the exact dates for the transition from fixed to floating rate.

What are the other types of preferred stock and notes mentioned in the filing?

The filing mentions Series A, C, and D Floating Rate Preferred Stock, Series F Medium-Term Notes, and Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital III.

What is the purpose of issuing these preferred capital securities?

The filing does not explicitly state the purpose, but it is a method for raising capital.

Is this a new type of security for Goldman Sachs?

The filing indicates the issuance of 'Normal Automatic Preferred Enhanced Capital Securities', suggesting a specific structure, but Goldman Sachs has issued various preferred securities and notes previously.

Filing Stats: 564 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-06-28 16:58:03

Filing Documents

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): June 28, 2024 The Goldman Sachs Group, Inc. (Exact name of registrant as specified in its charter) Commission File Number: 001-14965 Delaware 13-4019460 (State or other jurisdiction of incorporation) (IRS Employer Identification No.) 200 West Street , New York , N.Y. 10282 (Address of principal executive offices) (Zip Code) (212) 902-1000 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Exchange on which registered Common stock, par value $.01 per share GS NYSE Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series A GS PrA NYSE Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series C GS PrC NYSE Depositary Shares, Each Representing 1/1,000th Interest in a Share of Floating Rate Non-Cumulative Preferred Stock, Series D GS PrD NYSE 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II GS/43PE NYSE Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital III GS/43PF NYSE Medium-Term Notes, Series F, Callable Fixed and Floating Rate Notes due March 2031 of GS Finance Corp. GS/31B NYSE Medium-Term Notes, Series F, Callable Fixed and Floating Rate Notes due May 2031 of GS Finance Corp. GS/31X NYSE Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item8.01 Other Events. On June 28, 2024, The Goldman Sachs Group, Inc. (the Registrant) issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated into this Item 8.01 by reference. Item9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibit is filed as part of this Current Report on Form 8-K: 99.1 Press release of the Registrant, dated June 28, 2024 101 Pursuant to Rule 406 of Regulation S-T, the cover page information is formatted in iXBRL (Inline eXtensible Business Reporting Language) 104 Cover Page Interactive Data File (formatted in iXBRL in Exhibit 101) 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: June 28, 2024 By: /s/Kathryn H. Ruemmler Name:Kathryn H. Ruemmler Title:Chief Legal Officer and General Counsel

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