Goldman Sachs Announces Partial Redemption of Depositary Shares Representing Interests in its 5.70% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L

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"Goldman Sachs Announces Partial Redemption of Depositary Shares Representing Interests in its 5.70% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L"

"NEW YORK, NY, June 12, 2019, The Goldman Sachs Group, Inc. (NYSE: GS) (the “Company”) today announced that it will redeem 14,000 shares out of a total of 52,000 shares currently outstanding of its 5.70% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L (“Series L Preferred Stock”) and the corresponding 350,000 depositary shares (“Depositary Shares”) each representing a 1/25th interest in a share of Series L Preferred Stock, on July 12, 2019 (the “Redemption Date”).&nbsp;\r\nThe Depositary Shares will be redeemed for a redemption price equal to $1,000 per Depositary Share (equivalent to $25,000 per share of Series L Preferred Stock) plus an amount equal to any dividends that have accrued but not been paid for the then-current dividend period to but excluding the Redemption Date attributable to 1/25th of a share of Series L Preferred Stock (together, the “Redemption Payment”).&nbsp; From and after the Redemption Date, all dividends will cease to accrue on the redeemed Series L Preferred Stock.\r\nSimultaneously with the partial redemption of the Series L Preferred Stock, a corresponding number of Depositary Shares will be redeemed on the Redemption Date in accordance with the applicable procedures of The Depositary Trust Company (“DTC”), for an amount per Depositary Share equal to the Redemption Payment. All Depositary Shares are held in book-entry form through DTC and will be redeemed in accordance with the procedures of DTC.\r\nThe Bank of New York Mellon’s address is as follows:\r\nFirst Class/Registered/Certified \r\nThe Bank of New York Mellon \r\nGlobal Corporate Trust \r\nP.O. Box 396 \r\nEast Syracuse, New York 13057\r\nExpress Delivery Only \r\nThe Bank of New York Mellon \r\nGlobal Corporate Trust \r\n111 Sanders Creek Parkway \r\nEast Syracuse, New York 13057\r\nInvestors 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.\r\nThe 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.\r\n# # #\r\nMedia Contact: \r\nJake Siewert \r\nTel: +1 212 902 5400\r\nInvestor Contact: \r\nHeather Kennedy Miner \r\nTel: +1 212 902 0300\r\n"

NEW YORK, NY, June 12, 2019, The Goldman Sachs Group, Inc. (NYSE: GS) (the “Company”) today announced that it will redeem 14,000 shares out of a total of 52,000 shares currently outstanding of its 5.70% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series L (“Series L Preferred Stock”) and the corresponding 350,000 depositary shares (“Depositary Shares”) each representing a 1/25th interest in a share of Series L Preferred Stock, on July 12, 2019 (the “Redemption Date”).&nbsp;
The Depositary Shares will be redeemed for a redemption price equal to $1,000 per Depositary Share (equivalent to $25,000 per share of Series L Preferred Stock) plus an amount equal to any dividends that have accrued but not been paid for the then-current dividend period to but excluding the Redemption Date attributable to 1/25th of a share of Series L Preferred Stock (together, the “Redemption Payment”).&nbsp; From and after the Redemption Date, all dividends will cease to accrue on the redeemed Series L Preferred Stock.
Simultaneously with the partial redemption of the Series L Preferred Stock, a corresponding number of Depositary Shares will be redeemed on the Redemption Date in accordance with the applicable procedures of The Depositary Trust Company (“DTC”), for an amount per Depositary Share equal to the Redemption Payment. All Depositary Shares are held in book-entry form through 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.
# # #
Media Contact: 
Jake Siewert 
Tel: +1 212 902 5400
Investor Contact: 
Heather Kennedy Miner 
Tel: +1 212 902 0300

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