Business Context and Reporting Period
This Form 8-K Current Report was filed by The Goldman Sachs Group, Inc. on July 20, 2026. The filing announces the launch of a proposed public offering of depositary shares representing a new series of Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, or debt levels. It is a disclosure regarding a proposed capital transaction.
- Proposed Instrument: Depositary Shares (1/25th interest per share) in Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA.
- Target Redemption: Proceeds are intended to redeem outstanding 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series U ($25,000 liquidation preference per share).
- Status: The offering is subject to pricing and has not yet closed.
Material Changes
There are no reported material changes to historical financial results in this document. The filing discloses a potential future change in the company's capital structure contingent upon the successful pricing and closing of the new preferred stock offering.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to use a portion of the net proceeds from the Series AA offering to redeem the Series U Preferred Stock. However, the filing explicitly states there is no assurance that the offering will price and close or that the redemption will occur.
Risks and Contingencies:
- The transaction is subject to market conditions and other considerations.
- This report does not constitute a notice of redemption for the Series U Preferred Stock.
- Forward-looking statements regarding the completion of the offering and use of proceeds are subject to inherent uncertainties.
Investor Verification Checklist
- Verify if the Series AA offering has been priced and closed.
- Confirm whether the Company has issued a formal notice of redemption for the Series U Preferred Stock.
- Review the preliminary prospectus supplement filed on July 20, 2026, for specific terms of the new Series AA stock.
- Monitor for press releases regarding the final decision on the Series U redemption.