Goldman Sachs (NYSE: GS) creates 6.500% Series AA preferred stock
Rhea-AI Filing Summary
The Goldman Sachs Group, Inc. established a new class of preferred stock, its 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA, with a liquidation preference of $25,000 per share. The terms are set out in a Certificate of Designations filed in Delaware on July 23, 2026.
Upon issuance of the Series AA Preferred Stock, the ability to declare or pay dividends on, or purchase, redeem or otherwise acquire, Goldman Sachs common stock will be restricted if dividends on the Series AA are not paid, as described in the Certificate of Designations. Additional exhibits cover depositary shares representing interests in the Series AA under an existing Form S-3 registration statement.
Positive
- None.
Negative
- None.
8-K Event Classification
3 items: 3.03, 5.03, 9.01
3 items
Item 3.03
Material Modification to Rights of Security Holders
Securities
A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Dividend rate, Series AA Preferred Stock: 6.500%
Liquidation preference, Series AA Preferred: $25,000 per share
Rate on existing capital securities: 5.793%
+1 more
4 metrics
Dividend rate, Series AA Preferred Stock
6.500%
Fixed-Rate Reset Non-Cumulative dividend on Series AA Preferred Stock
Liquidation preference, Series AA Preferred
$25,000 per share
Per-share liquidation preference for Series AA Preferred Stock
Rate on existing capital securities
5.793%
Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities of Goldman Sachs Capital II
Depositary share interest ratio (other series)
1/1,000th interest per share
Each depositary share represents 1/1,000th interest in certain existing preferred stock series
Key Terms
Fixed-Rate Reset Non-Cumulative Preferred Stock, Certificate of Designations, depositary shares, liquidation preference, +1 more
5 terms
Fixed-Rate Reset Non-Cumulative Preferred Stock financial
"6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA"
Certificate of Designations regulatory
"These restrictions are set forth in the Certificate of Designations"
A certificate of designations is a formal legal document that spells out the specific rights and rules attached to a particular class of stock, most often preferred shares. It tells investors who gets paid first, what dividends or conversion rights exist, and any voting or liquidation priorities—like an instruction sheet that decides which shareholders get preference if a company pays out or is sold. Those terms directly affect a security’s value and risk.
liquidation preference financial
"Series AA, liquidation preference $25,000 per share"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
Inline eXtensible Business Reporting Language technical
"cover page information is formatted in iXBRL (Inline eXtensible Business Reporting Language)"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What new security did Goldman Sachs (GS) create in this report?
Goldman Sachs created a 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA. The series is documented in a Certificate of Designations and carries a defined liquidation preference per share within the company’s capital structure.
What is the dividend rate and structure of GS Series AA Preferred Stock?
The Series AA Preferred Stock carries a 6.500% fixed-rate reset, non-cumulative dividend. Non-cumulative means unpaid dividends do not accumulate, and the fixed-rate reset structure allows the rate to reset as specified in the Certificate of Designations.
What restrictions affect GS common stock dividends due to the Series AA Preferred?
If Goldman Sachs fails to pay dividends on its Series AA Preferred Stock, restrictions apply to declaring or paying dividends on, or purchasing, redeeming or otherwise acquiring, its common stock. These limitations are detailed in the Series AA Certificate of Designations.
When were the terms of Goldman Sachs (GS) Series AA Preferred filed in Delaware?
Goldman Sachs filed the Certificate of Designations for the Series AA Preferred Stock on July 23, 2026 with the Secretary of State of Delaware. This filing formally sets forth the rights, preferences and terms of the new preferred series.
What is the liquidation preference of GS Series AA Preferred Stock?
The Series AA Preferred Stock has a liquidation preference of $25,000 per share. This amount defines what holders are entitled to receive per share before common stock in certain liquidation events, as outlined in the Certificate of Designations.