Goldman Sachs Files 8-K on Preferred Stock and Notes
Ticker: GSCE · Form: 8-K · Filed: Feb 13, 2025 · CIK: 886982
| Field | Detail |
|---|---|
| Company | Goldman Sachs Group INC (GSCE) |
| Form Type | 8-K |
| Filed Date | Feb 13, 2025 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $25,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-issuance, preferred-stock, capital-raising
Related Tickers: GS
TL;DR
GS dropped an 8-K on new preferred stock and notes, check the details.
AI Summary
On February 12, 2025, Goldman Sachs Group Inc. filed an 8-K detailing various preferred stock and medium-term note issuances. These include "5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II" and "Series F Medium-Term Notes Callable Fixed and Floating Rate Notes Due March 2031 of GS Finance Corp."
Why It Matters
This filing provides insight into Goldman Sachs' ongoing capital raising activities and the specific financial instruments they are utilizing to fund their operations.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of financial instruments and does not indicate any immediate financial distress or significant operational changes.
Key Numbers
- 5.793% — Interest Rate (Fixed rate for certain preferred securities)
- March 2031 — Maturity Date (Maturity date for Series F Medium-Term Notes)
Key Players & Entities
- GOLDMAN SACHS GROUP INC (company) — Filer
- Goldman Sachs Capital II (company) — Issuer of Preferred Enhanced Capital Securities
- GS Finance Corp (company) — Issuer of Medium-Term Notes
- 5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (dollar_amount) — Specific financial instrument
- Series F Medium-Term Notes Callable Fixed and Floating Rate Notes Due March 2031 (dollar_amount) — Specific financial instrument
FAQ
What is the total principal amount of the newly issued securities?
The filing does not specify the total principal amount of the securities mentioned.
What are the specific terms and conditions of the "5.793% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities"?
The filing indicates these securities are from Goldman Sachs Capital II and have a fixed-to-floating rate structure, but detailed terms are not provided in this summary.
What is the purpose of issuing these new preferred stocks and notes?
The filing does not explicitly state the purpose for the issuance of these securities.
Are there any specific covenants or restrictions associated with these issuances?
This 8-K filing does not detail specific covenants or restrictions related to these issuances.
What is the current market perception of Goldman Sachs' capital structure based on these issuances?
The filing itself is a factual disclosure and does not provide information to assess market perception of Goldman Sachs' capital structure.
Filing Stats: 653 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2025-02-13 16:30:02
Key Financial Figures
- $25,000 — Stock, Series Z, liquidation preference $25,000 per share. A copy of the Restated Certi
Filing Documents
- d922125d8k.htm (8-K) — 37KB
- d922125dex31.htm (EX-3.1) — 967KB
- 0001193125-25-026104.txt ( ) — 1447KB
- gs-20250212.xsd (EX-101.SCH) — 5KB
- gs-20250212_def.xml (EX-101.DEF) — 16KB
- gs-20250212_lab.xml (EX-101.LAB) — 29KB
- gs-20250212_pre.xml (EX-101.PRE) — 18KB
- d922125d8k_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): February 12, 2025 The Goldman Sachs Group, Inc. (Exact name of registrant as specified in its charter) Delaware No. 001-14965 No. 13-4019460 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 200 West Street , New York , N.Y. 10282 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: ( 212 ) 902-1000 N/A (Former name or former address, if changed since last report.) 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 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (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. Item5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On February 12, 2025, The Goldman Sachs Group, Inc. (the "Company") filed a Restated Certificate of Incorporation with the Secretary of State of the State of Delaware reflecting the prior filing of the Company's Certificate of Designations to the Restated Certificate of Incorporation with the Secretary of State of the State of Delaware setting forth the terms of its 6.850% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Z, liquidation preference $25,000 per share. A copy of the Restated Certificate of Incorporation is listed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed as part of this Current Report on Form 8-K: 3.1 Restated Certificate of Incorporation of The Goldman Sachs Group, Inc., amended as of February 12, 2025. 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: February 13, 2025 By: /s/ Matthew E. Tropp Name: Matthew E. Tropp Title:Assistant Secretary