Goldman Sachs 8-K

Summary

Proposed preferred-stock offering. Goldman Sachs launched an offering of depositary shares representing interests in a new Series AA preferred stock. If the offering is priced and closes, Goldman intends to use part of the net proceeds to redeem all outstanding Series U preferred stock; both the offering and any redemption remain subject to market conditions and the company’s decision.

Key Figures

• Each depositary share represents a 1/25 interest in a Series AA preferred share.
• Potential redemption: all outstanding Series U preferred stock, which has a 3.65% rate and a $25,000 liquidation preference per share. The filing does not constitute a redemption notice.

Investor Takeaways

• Watch for offering pricing and closing; Goldman has not provided assurance that either will occur.
• A subsequent announcement and formal redemption notice would confirm whether Goldman proceeds with redeeming Series U.