Goldman Sachs Announces Partial Redemption of Depositary Shares Representing Interests in its 6.20% Non-Cumulative Preferred Stock, Series B

NEW YORK, NY, January 12, 2018, The Goldman Sachs Group, Inc. (NYSE: GS) (the “Company”) today announced that it will redeem 26,000 shares out of a total of 32,000 shares currently outstanding of its 6.20% Non-Cumulative Preferred Stock, Series B (“Series B Preferred Stock”) and the corresponding depositary shares (“Depositary Shares”) each representing a 1/1000th interest in a share of Series B Preferred Stock, on February 12, 2018 (the “Redemption Date”). The Depositary Shares are currently traded on the New York Stock Exchange under the symbol GS PrB (CUSIP 38144X500).

The Depositary Shares will be redeemed for a redemption price equal to $25 per Depositary Share (equivalent to $25,000 per share of Series B Preferred Stock) (the “Redemption Payment”) for a total Redemption Payment of $650 million. This redemption follows the Company’s issuance of 5.00% Fixed-to-Floating Non-Cumulative Preferred Stock, Series P on November 1, 2017 for an aggregate liquidation preference of $1.5 billion and the Company’s redemption of all of its outstanding 5.95% Non-Cumulative Preferred Stock, Series I for a redemption payment of $850 million plus accrued but unpaid dividends on November 17, 2017.  From and after the Redemption Date, all dividends will cease to accrue on the redeemed Series B Preferred Stock.

Simultaneously with the partial redemption of the Series B Preferred Stock, the Bank of New York Mellon will redeem a corresponding number of Depositary Shares on the Redemption Date, pro rata and in accordance with the applicable procedures of the Depositary Trust Company, for an amount per Depositary Share equal to the Redemption Payment. Also on February 12, a dividend of $0.3875 per Depositary Share shall be paid to the record holders as of January 28, 2018. All Depositary Shares are held in book-entry form through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC.

The Bank of New York Mellon’s address is as follows:

First Class/Registered/Certified
The Bank of New York Mellon
Global Corporate Trust
P.O. Box 396
East Syracuse, New York 13057

Express Delivery Only
The Bank of New York Mellon
Global Corporate Trust
111 Sanders Creek Parkway
East Syracuse, New York 13057

Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the Redemption Payment for the Depositary Shares in which they have a beneficial interest.

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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Media Contact:
Jake Siewert
Tel: +1 212 902 5400

Investor Contact:
Heather Kennedy Miner
Tel: +1 212 902 0300