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GOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Aug 10, 2023)

Reports
Exhibits & Filings
Filing Date
Filed August 10, 2023
Period End
August 10, 2023
In the record · 2016–202610-K1310-Q328-K228

GS filed 13 annual reports (10-K), 32 quarterly reports (10-Q) and 228 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Oct ’21Oct ’21
  2. Leadership change8-K · Mar ’26Mar ’26

01—Abstract

Summary

Summary of the 8-K filed August 10, 2023. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing by Goldman Sachs Group, Inc. (GS) primarily serves as a notification regarding the issuance of new debt securities.

On August 10, 2023, the company issued $500 milliona in Floating Rate Notes due 2026 and $2.25 billion in 5.798% Fixed/Floating Rate Notes due 2026, totaling $2.75 billion in aggregate principal amount. These issuances were made under the company's existing shelf registration statement filed on Form S-3. For investors, this filing indicates that Goldman Sachs continues to access capital markets through debt issuance, a common practice for large financial institutions to manage their balance sheets and fund operations.

The details provided, including the specific amounts and interest rate structures (fixed/floating), offer transparency into the company's funding strategy and cost of debt. The filing also includes legal opinions and consents related to these securities, as well as iXBRL tagging for enhanced data accessibility.

02—Key points

Key Highlights

  1. Goldman Sachs Group, Inc. issued $2.75 billion in new debt securities on August 10, 2023.
  2. The issuance consists of $500 million in Floating Rate Notes due 2026.
  3. The issuance also includes $2.25 billion in 5.798% Fixed/Floating Rate Notes due 2026.
  4. These debt securities were issued under the company's existing Form S-3 shelf registration statement.
  5. The filing includes legal opinions from Sullivan & Cromwell LLP regarding the securities.
  6. The report is formatted with iXBRL for enhanced data accessibility.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K filing?

    The primary purpose of this 8-K filing is to report the issuance of new debt securities by Goldman Sachs Group, Inc. and to provide accompanying legal documentation, such as opinions and consents.

  2. How much debt did Goldman Sachs issue in this filing?

    Goldman Sachs issued a total of $2.75 billion in new debt securities, comprising $500 million in Floating Rate Notes due 2026 and $2.25 billion in 5.798% Fixed/Floating Rate Notes due 2026.

  3. What does it mean that the securities were issued under a 'shelf registration statement'?

    A shelf registration statement allows a company to register securities it expects to issue in the future, making the issuance process more efficient. This means Goldman Sachs had pre-registered the ability to issue these types of securities, and this filing details a specific instance of that issuance.

  4. What are the implications of 'Floating Rate Notes' versus 'Fixed/Floating Rate Notes' for investors?

    Floating Rate Notes have interest payments that adjust periodically based on a benchmark interest rate (like SOFR), meaning their yield will fluctuate. Fixed/Floating Rate Notes offer flexibility, potentially starting with a fixed rate and then switching to a floating rate, or vice versa, providing investors with different risk/reward profiles depending on market interest rate expectations.

04—Continue

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