Preferred Stock

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Preferred Stock

           
 
Series Description Date Issued Size ($mm) Maturity Dividend Payment Date Ticker
A Perpetual Floating Rate
Non-Cumulative
April 25, 2005 750 Perpetual 3 Month LIBOR + 75bp with 3.75% Dividend Floor 10th day of February, May, August, and  November GS PrA
B Perpetual 6.20%
Non-Cumulative
October 31, 2005 800 Perpetual 6.20% 10th day of February, May, August, and  November GS PrB
C Perpetual Floating Rate Non-Cumulative October 31, 2005 200 Perpetual 3 Month LIBOR + 75bp with 4.00% Dividend Floor 10th day of February, May, August, and  November GS PrC
D Perpetual Floating Rate Non-Cumulative May 24, 2006 1,350 Perpetual 3 Month LIBOR + 67bp with 4.00% Dividend Floor 10th day of February, May, August, and  November GS PrD
I Perpetual 5.95% Non-Cumulative October 24, 2012 850 Perpetual 5.95% 10th day of February, May, August, and November GS PrI
J Perpetual 5.50% Fixed-to-Floating Rate Non-Cumulative April 25, 2013 1,000 Perpetual 5.50% until May 10, 2023
3 month LIBOR + 364bps thereafter
10th day of February, May, August and November GS PrJ
               
K Perpetual 6.375% Fixed-to-Floating Rate Non-Cumulative April 28, 2014 700 Perpetual 6.375% until May 10, 2024
3 Month LIBOR + 355bps thereafter
10th day of February, May, August, and November GS PrK
               
L Perpetual 5.70% Fixed-to-Floating Rate Non-Cumulative April 28, 2014 1,300 Perpetual 5.70% until May 10, 2019
3 Month LIBOR + 388.4bps thereafter
10th day of May and November of each year, commencing on November 10, 2014 and ending on May 10, 2019, and 10th day of February, May, August, and November of each year following May 10, 2019    N/A
             
             
 

Capital Securities

 
 
Issuer Description Date Issued Size ($mm) Maturity Payment Payment Date Cusip
GS Capital I 6.345% Capital Securities (Trust Preferred) February 20, 2004 2,750 February 15, 2034 6.345% 15th day of February and August 38143VAA7
GS Capital II 5.793% Fixed-to-Floating Rate Normal APEX (Series E Preferred Stock) May 15, 2007 1,750 Perpetual
3 Month LIBOR + 76.75bp with 4.00% floor 

1st of March, June, September and December
381427AA1
GS Capital III Floating Rate Normal APEX (Series F Preferred Stock) May 15, 2007 500 Perpetual
3 Month LIBOR + 77bp with 4.00% floor
1st of March, June, September and December 38144QAA7

 

Description and Prospectus Links

  • Preferred (Series A): On April 25, 2005, the firm issued 30,000 shares of perpetual Floating Rate non-Cumulative Preferred Stock, Series A (Series A Preferred Stock), par value $0.01, out of a total 50,000 shares of Series A Preferred Stock authorized for issuance. Each share of Series A Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series A Preferred Stock is redeemable at the firm's option starting on April 25, 2010 at a redemption price equal to $25,000 per share plus declared and unpaid dividends. The redemption value of Series A preferred Stock is $750 million. The Series A Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series B): On October 31, 2005, the firm issued 32,000 shares of perpetual Fixed Rate non-Cumulative Preferred Stock, Series B (Series B Preferred Stock), par value $0.01, out of a total 50,000 shares of Series B Preferred Stock authorized for issuance. Each share of Series B Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series B Preferred Stock is redeemable at the firm's option starting on October 31, 2010 at a redemption price equal to $25,000 per share plus declared and unpaid dividends. The redemption value of Series B preferred Stock is $800 million. The Series B Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series C): On October 31, 2005, the firm issued 8,000 shares of perpetual Floating Rate non-Cumulative Preferred Stock, Series C (Series C Preferred Stock), par value $0.01, out of a total 25,000 shares of Series C Preferred Stock authorized for issuance. Each share of Series C Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series C Preferred Stock is redeemable at the firm's option starting on October 31, 2010 at a redemption price equal to $25,000 per share plus declared and unpaid dividends. The redemption value of Series C preferred Stock is $200 million. The Series C Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series D): On May 24, 2006 and July 24, 2006, the firm issued 34,000 and 20,000 shares, respectively, of perpetual Floating Rate non-Cumulative Preferred Stock, Series D (Series D Preferred Stock), par value $0.01, out of a total 60,000 shares of Series D Preferred Stock authorized for issuance. Each share of Series D Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series D Preferred Stock is redeemable at the firm's option starting on May 24, 2011 at a redemption price equal to $25,000 per share plus declared and unpaid dividends. The redemption value of Series D preferred Stock is $1.35 billion. The Series D Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series I): On October 24, 2012, the firm issued 34,000 shares, of perpetual Fixed Rate non-Cumulative Preferred Stock, Series I (Series I Preferred Stock), par value $0.01, out of a total 34,000 shares of Series I Preferred Stock authorized for issuance. Each share of Series I Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series I Preferred Stock is redeemable at the firm's option starting on November 10, 2017 at a redemption price equal to $25,000 per share plus accrued and unpaid dividends. The redemption value of the Series I Preferred Stock is $850 million. The Series I Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series J): On April 25, 2013, Group Inc. issued 40,000 shares of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series J (Series J Preferred Stock), par value $0.01 per share, out of a total of 46,000 shares of Series J Preferred Stock authorized for issuance. Each share of Series J Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series J Preferred Stock is redeemable at the firm's option starting on May 10, 2023 at a redemption price equal to $25,000 per share plus accrued and unpaid dividends. The redemption value of the Series J Preferred Stock is $1,000 million. The Series J Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series K): On April 28, 2014, Group Inc. issued 28,000 shares of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K (Series K Preferred Stock), par value $0.01 per share, out of a total of 32,200 shares of Series K Preferred Stock authorized for issuance. Each share of Series K Preferred Stock has a liquidation preference of $25,000 and is represented by 1,000 depositary shares. The Series K Preferred Stock is redeemable at the firm's option starting on May 10, 2024 at a redemption price equal to $25,000 per share plus accrued and unpaid dividends. The redemption value of the Series K Preferred Stock is $700 million. The Series K Preferred Stock has preference over the firm's common stock for the payment of dividends. Any dividends declared on the preferred stock will be payable quarterly in arrears.

  • Preferred (Series L): On April 28, 2014, Group Inc. issued 52,000 shares of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L (Series L Preferred Stock), par value $0.01 per share. Each share of Series L Preferred Stock has a liquidation preference of $25,000 and is represented by 25 depositary shares. The Series L Preferred Stock is redeemable at the firm's option starting on May 10, 2019 at a redemption price equal to $25,000 per share plus accrued and unpaid dividends. The redemption value of the Series L Preferred Stock is $1,300 million. The Series L Preferred Stock has preference over the firm's common stock for the payment of dividends. From the date of original issue to May 10, 2019, any dividends declared on the preferred stock will be payable semi-annually in arrears. Following May 10, 2019, any dividend declared on the preferred stock will be payable quarterly in arrears.

  • Trust Preferred: In February 2004, Goldman Sachs Capital I (the Trust), a wholly owned Delaware statutory trust, was formed by the firm for the exclusive purposes of (i) issuing $2.75bn of guaranteed preferred beneficial interests and $85 million of common beneficial interests in the Trust, (ii) investing the proceeds from the sale to purchase junior subordinated debentures from The Goldman Sachs Group, Inc. and (iii) engaging in only those other activities necessary or incidental to these purposes. The preferred beneficial interests were purchased by third parties, and the firm holds all of the common beneficial interests.

  • Fixed-to-Floating Rate Normal APEX: In May 2007, Goldman Sachs Capital II, a wholly owned Delaware statutory trust was formed by the firm for the exclusive purposes of (i) issuing $1.75 billion of guaranteed perpetual Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (APEX) to third parties and a de minimis amount of common securities to the firm, (ii) investing the proceeds from the sale to purchase junior subordinated notes and stock purchase contracts from the firm and (iii) engaging in only those other activities necessary or incidental to these purposes. The Fixed-to-Floating Rate Normal APEX were purchased by third parties, and the firm holds all of the common securities. Pursuant to the stock purchase contracts, the firm issued on June 1, 2012 one share of Series E preferred stock to Goldman Sachs Capital II for each $100,000 principal amount of subordinated notes previously held by the trust. Goldman Sachs Capital II remarketed the junior subordinated debt in order to fund its purchase of the Series E preferred stock.

  • Floating Rate Normal APEX: In May 2007, Goldman Sachs Capital III, a wholly owned Delaware statutory trust was formed by the firm for the exclusive purposes of (i) issuing $500 million of guaranteed perpetual Floating Rate Normal Automatic Preferred Enhanced Capital Securities (APEX) to third parties and a de minimis amount of common securities to the firm, (ii) investing the proceeds from the sale to purchase junior subordinated notes and stock purchase contracts from the firm and (iii) engaging in only those other activities necessary or incidental to these purposes. The Floating Rate Normal APEX were purchased by third parties, and the firm holds all of the common securities. Pursuant to the stock purchase contracts, the firm issued on September 1, 2012 one share of Series F preferred stock to Goldman Sachs Capital III for each $100,000 principal amount of subordinated notes held by the trust. Goldman Sachs Capital III remarketed the junior subordinated debt in order to fund their purchase of the Series F preferred stock. 

 

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