AI English summary of an SEC filing — figures as filed
Goldman Sachs GSGoldman Sachs said on Tuesday, April 16, 2024, that it launched a public offering of depositary shares, each representing a 1/25th interest in a share of its new Fixed Rate Reset Non-Cumulative Preferred Stock, Series X. The offering is subject to pricing, which has not yet occurred.
Key points
AI summaryGoldman Sachs said on Tuesday, April 16, 2024, that it launched a public offering of depositary shares, each representing a 1/25th interest in a share of its new Fixed Rate Reset Non-Cumulative Preferred Stock, Series X. The offering is subject to pricing, which has not yet occurred.
The company said it intends to use the net proceeds from the offering, if it is priced and closes, to redeem all of its outstanding 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K. The liquidation preference of this preferred stock is $25,000 per share.
The company said the pricing of the offering, and whether any redemption of preferred stock occurs, depends on market conditions and other considerations. It said there is no assurance that the offering will price and close or that it will decide to redeem the Series K preferred stock. If it decides to redeem the Series K preferred stock, it plans to announce the decision by press release and a notice of redemption.
Goldman Sachs said the depositary shares, each representing a 1/1000th interest in a share of Series K preferred stock, are traded on the New York Stock Exchange under the symbol GS PrK. The offering is described in the preliminary prospectus supplement dated April 16, 2024, which was filed with the SEC the same day.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Goldman Sachs Launches Public Offering of Series X Preferred Depositary Shares
Goldman Sachs said on Tuesday, April 16, 2024, that it launched a public offering of depositary shares, each representing a 1/25th interest in a share of its new Fixed Rate Reset Non-Cumulative Preferred Stock, Series X. The offering is subject to pricing, which has not yet occurred.
Source · Based on the filing body and exhibits
Intent to Redeem Series K Preferred Stock
The company said it intends to use the net proceeds from the offering, if it is priced and closes, to redeem all of its outstanding 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K. The liquidation preference of this preferred stock is $25,000 per share.
Source · Based on the filing body and exhibits
Uncertainty Over Offering and Redemption
The company said the pricing of the offering, and whether any redemption of preferred stock occurs, depends on market conditions and other considerations. It said there is no assurance that the offering will price and close or that it will decide to redeem the Series K preferred stock. If it decides to redeem the Series K preferred stock, it plans to announce the decision by press release and a notice of redemption.
Source · Based on the filing body and exhibits
Series K Depositary Shares and Offering Documents
Goldman Sachs said the depositary shares, each representing a 1/1000th interest in a share of Series K preferred stock, are traded on the New York Stock Exchange under the symbol GS PrK. The offering is described in the preliminary prospectus supplement dated April 16, 2024, which was filed with the SEC the same day.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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