Goldman Sachs Completes Preferred Securities Offering
Ticker: GSCE · Form: 8-K · Filed: Aug 29, 2024 · CIK: 886982
| Field | Detail |
|---|---|
| Company | Goldman Sachs Group INC (GSCE) |
| Form Type | 8-K |
| Filed Date | Aug 29, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: preferred-stock, capital-raise, debt-and-equity
Related Tickers: GS
TL;DR
GS just dropped new preferred stock - 5.793% fixed-to-float.
AI Summary
On August 28, 2024, Goldman Sachs Group Inc. filed an 8-K to report the completion of its "5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II". This filing details the terms and conditions of these newly issued preferred securities.
Why It Matters
This filing indicates Goldman Sachs has successfully raised capital through the issuance of new preferred securities, which can impact its financial leverage and capital structure.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a completed securities offering and does not present new or unusual risks.
Key Numbers
- 5.793% — Fixed Rate (Initial interest rate on the preferred securities)
Key Players & Entities
- GOLDMAN SACHS GROUP INC (company) — Filer
- 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II (company) — Issued Securities
- 20240828 (date) — Report Date
FAQ
What is the specific ticker symbol for these new preferred securities?
The filing does not explicitly state a ticker symbol for the '5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II'.
What is the total principal amount of the securities issued?
The filing does not specify the total principal amount of the securities issued.
When do these securities begin to float?
The filing indicates the securities are 'Fixed-to-Floating Rate' but does not specify the exact date or trigger for the transition to floating rate.
What is the legal entity that issued these securities?
The securities are identified as 'of Goldman Sachs Capital II'.
What is the purpose of issuing these preferred securities?
The filing does not explicitly state the purpose, but it is a standard method for companies to raise capital.
Filing Stats: 501 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-08-28 17:55:03
Filing Documents
- d817202d8k.htm (8-K) — 35KB
- 0001193125-24-208942.txt ( ) — 231KB
- gs-20240828.xsd (EX-101.SCH) — 5KB
- gs-20240828_def.xml (EX-101.DEF) — 16KB
- gs-20240828_lab.xml (EX-101.LAB) — 28KB
- gs-20240828_pre.xml (EX-101.PRE) — 17KB
- d817202d8k_htm.xml (XML) — 15KB
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): August 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. The Federal Reserve has adjusted down the Goldman Sachs stress capital buffer requirement to 6.2%, resulting in a Standardized Common Equity Tier 1 ("CET1") ratio of 13.7% effective on October 1, 2024. 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: August 28, 2024 By: /s/ Michael S. Bosworth Name: Michael S. Bosworth Title: Deputy General Counsel