Goldman Sachs Issues New Preferred Capital Securities
Ticker: GSCE · Form: 8-K · Filed: Oct 24, 2024 · CIK: 886982
| Field | Detail |
|---|---|
| Company | Goldman Sachs Group INC (GSCE) |
| Form Type | 8-K |
| Filed Date | Oct 24, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: capital-raise, preferred-stock, debt-issuance
Related Tickers: GS
TL;DR
GS just dropped new preferred stock - 5.793% fixed-to-float. Raising capital.
AI Summary
On October 23, 2024, Goldman Sachs Group Inc. filed an 8-K to report on the issuance 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 securities, which are designed to provide enhanced capital to the company.
Why It Matters
This filing indicates Goldman Sachs is raising capital through preferred securities, which can impact its financial leverage and future dividend capacity.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a capital raise and does not indicate any immediate operational or financial distress.
Key Numbers
- 5.793% — Fixed Rate (Initial interest rate on the new preferred securities)
Key Players & Entities
- GOLDMAN SACHS GROUP INC (company) — Filer
- Goldman Sachs Capital II (company) — Issuer of securities
- 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (dollar_amount) — Type of security issued
FAQ
What is the specific maturity date or call provision for these new preferred securities?
The provided text does not specify the maturity date or call provisions 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 disclose the total principal amount of the 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II.
What is the purpose of issuing these specific preferred enhanced capital securities?
The filing states these securities are 'of Goldman Sachs Capital II' and are 'Preferred Enhanced Capital Securities', indicating a purpose related to capital raising and enhancement for the company, but specific details are not provided in this excerpt.
When did the fixed rate period for these securities begin and when will it transition to a floating rate?
The filing indicates the securities are 'Fixed-to-Floating Rate' but does not specify the exact dates for the transition from fixed to floating rate periods.
Are there any specific covenants or restrictions associated with this issuance that are detailed in the filing?
This excerpt of the filing does not detail any specific covenants or restrictions associated with the issuance of the 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities.
Filing Stats: 750 words · 3 min read · ~3 pages · Grade level 11.7 · Accepted 2024-10-24 16:49:02
Filing Documents
- d901343d8k.htm (8-K) — 38KB
- d901343dex31.htm (EX-3.1) — 8KB
- d901343dex32.htm (EX-3.2) — 869KB
- 0001193125-24-242934.txt ( ) — 1343KB
- gs-20241023.xsd (EX-101.SCH) — 6KB
- gs-20241023_def.xml (EX-101.DEF) — 16KB
- gs-20241023_lab.xml (EX-101.LAB) — 29KB
- gs-20241023_pre.xml (EX-101.PRE) — 18KB
- d901343d8k_htm.xml (XML) — 15KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed as part of this Current Report on Form 8-K: 3.1 Certificate of Elimination relating to the Series P Preferred Stock. 3.2 Restated Certificate of Incorporation of The Goldman Sachs Group, Inc., amended as of October 23, 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: October 24, 2024 By: /s/ Matthew E. Tropp Name: Matthew E. Tropp Title: Assistant Secretary