What is the main purpose of the proposed public offering?

The main purpose of the proposed public offering of Series T Preferred Stock is to raise capital that Goldman Sachs intends to use to redeem its outstanding Series N Preferred Stock.

Is the redemption of the Series N Preferred Stock guaranteed?

No, the redemption of the Series N Preferred Stock is not guaranteed. It is contingent upon the successful pricing and closing of the proposed public offering of Series T Preferred Stock, which in turn depends on market conditions and other factors.

What are the key terms of the Series N Preferred Stock being considered for redemption?

The Series N Preferred Stock has a fixed dividend rate of 6.30% and a liquidation preference of $25,000 per share. It is currently traded on the NYSE under the symbol GS PrN.

What is the new Series T Preferred Stock?

The Series T Preferred Stock is a new series of Fixed Rate Reset Non-Cumulative Preferred Stock being offered by Goldman Sachs. Details of the offering are available in the company's preliminary prospectus supplement.

GOLDMAN SACHS GROUP INC 8-K SEC Disclosure

Summary

Goldman Sachs Group, Inc. (GS) announced on April 19, 2021, its intention to launch a proposed public offering of new Series T Fixed Rate Reset Non-Cumulative Preferred Stock. This offering is subject to pricing and market conditions, with no assurance of closing. Should the offering proceed and close, the company plans to use the net proceeds to redeem all outstanding Series N Preferred Stock, which currently trades under the symbol GS PrN.

Key Highlights

1Goldman Sachs is proposing a public offering of new Series T Preferred Stock.
2The offering is contingent on market conditions and successful pricing.
3Proceeds from the new offering are intended for the redemption of outstanding Series N Preferred Stock.
4The Series N Preferred Stock (GS PrN) has a 6.30% coupon rate and a $25,000 liquidation preference per share.
5The company has filed a preliminary prospectus supplement detailing the offering.
6There is no guarantee that the offering will price and close or that the redemption will occur.

GOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Apr 19, 2021)

Summary

Key Highlights

Frequently Asked Questions