Goldman Sachs Group Eliminates 5.00% Fixed-to-Floating Rate Non-Cumulative Preferred Stock

by · The Markets Daily

On October 23, 2024, The Goldman Sachs Group, Inc. (NYSE: GS) filed a Certificate of Elimination to its Restated Certificate of Incorporation with the Secretary of State of Delaware. This action aimed to eliminate all provisions related to its 5.00% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series P. The company successfully redeemed all outstanding shares of the Series P Preferred Stock on October 21, 2024.

A Certificate of Elimination specifically addressing the Series P Preferred Stock has been included as Exhibit 3.1 in the Current Report on Form 8-K. Furthermore, a Restated Certificate of Incorporation reflecting the changes related to eliminating the Series P Preferred Stock and incorporating details of the Company’s Certificate of Designations for its 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series Y, was filed with the Secretary of State of Delaware on October 23, 2024. This document is listed as Exhibit 3.2 in the Current Report on Form 8-K.

In compliance with the disclosure requirements, the company has also included several exhibits in this Current Report on Form 8-K, with details of the Certificate of Elimination, the Restated Certificate of Incorporation, and additional information presented according to Rule 406 of Regulation S-T in iXBRL format.

Matthew E. Tropp, Assistant Secretary of The Goldman Sachs Group, Inc., signed the report on behalf of the registrant on October 24, 2024.

The filing indicates the company’s strategic moves in managing its preferred stock offerings, aligning its structures with evolving market conditions and investor preferences. Investors and analysts may track these adjustments to understand the company’s financial and strategic directions moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read The Goldman Sachs Group’s 8K filing here.

About The Goldman Sachs Group

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The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

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