Goldman Sachs to Repurchase TARP Preferred Stock
New York, NY June 9, 2009 - The Goldman Sachs Group, Inc. (NYSE: GS) announced today that it has received permission to repurchase from the United States Department of the Treasury the 10,000,000 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series H that were issued to the U.S. Treasury pursuant to the U.S. Treasury’s Troubled Asset Relief Program (TARP) Capital Purchase Plan. The repurchase amount, together with accrued dividends, will be paid at a time determined by the U.S. Treasury.
Lloyd C. Blankfein, Chairman and Chief Executive Officer of The Goldman Sachs Group, Inc. said, “We are grateful for the government’s extraordinary efforts and are pleased to be able to return to the U.S. Treasury the funds that were invested in Goldman Sachs.”
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
Lucas van Praag
Dane E. Holmes