Routine mid-term note issuance by Goldman Sachs under its shelf program. The $4.23M size is immaterial to a firm with over $1.5T in total assets. For GS-PD preferred stock holders, this has no meaningful credit impact — monitor for any issuer rating actions or material changes in leverage ratios.
Executive Summary
Goldman Sachs completed a $4.23 million offering of Callable Fixed Rate Notes due 2046, priced at par with a 5.825% coupon. GS-PD is a preferred stock, not a common equity, and this debt issuance adds $4.23M in unsecured senior debt, not equity. For a preferred stock holder, this is a neutral debt financing event — modest leverage increase with no material credit impact at this scale.
Key Financial Metrics
Key Facts
- $4,232,000 aggregate principal amount of Callable Fixed Rate Notes due 2046
- Interest rate of 5.825% per annum, paid annually on May 29
- Issuer may redeem notes at 100% of principal on or after May 29, 2029
- Underwriting discount of 2.269% ($96,024.08); net proceeds of $4,135,975.92 to Goldman Sachs
- Underwriters: Goldman Sachs & Co. LLC and InspereX LLC (each $2,116,000 principal)
- Notes are senior unsecured debt under Medium-Term Notes, Series N program
- No established trading market; underwriters intend to make a market but are not obligated
Financial Impact
$4.23M debt issuance at 5.825% — trivial for Goldman Sachs (multi-hundred-billion balance sheet)
Risk Factors
- No material risks for preferred stock holders from this small debt tap
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B4 Filing (Primary) | 0001193125-26-247269 |
| Document: gs_exfilingfees.htm | 0001193125-26-247269 |
| Document: 0001193125-26-247269-index-headers.html | 0001193125-26-247269 |
| Document: 0001193125-26-247269-index.html | 0001193125-26-247269 |
| Document: 0001193125-26-247269.txt | 0001193125-26-247269 |
Track record builds as more directional reports settle.
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|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Court Ruling | $1,019.77 $951.47 | ▼ −6.70% | ▼ −7.33% | $907.47 (−11.01%) |
Aug 14, 2026 6w ago | 13F-HR | $1,051.31 $1,036.28 | ▼ −1.43% | ▼ −0.24% | $907.47 (−13.68%) |
Jul 20, 2026 10w ago | 8-K | $1,055.03 $1,061.23 | ▲ +0.59% | ▲ +1.01% | $907.47 (−13.99%) |
Jul 14, 2026 11w ago | 8-K | $1,140.00 $1,055.03 | ▼ −7.45% | ▼ −6.16% | $907.47 (−20.40%) |
Jul 14, 2026 11w ago | Court Ruling | $1,140.00 $1,055.03 | ▼ −7.45% | ▼ −6.16% | $907.47 (−20.40%) |
Jun 24, 2026 14w ago | 8-K | $1,065.09 $1,019.61 | ▼ −4.27% | ▼ −5.83% | $907.47 (−14.80%) |
May 29, 2026 17w ago | 424B4 | $19.44 $19.23 | ▼ −1.08% | ▼ −0.79% | $907.47 (+4568.03%) |
May 27, 2026 18w ago | Court Ruling | $996.47 $1,041.02 | ▲ +4.47% | ▲ +3.97% | $907.47 (−8.93%) |
May 15, 2026 19w ago | 13F-HR | $19.12 $19.35 | ▲ +1.20% | ▲ +0.24% | $907.47 (+4646.16%) |
May 1, 2026 22w ago | Insider Cluster | $922.60 $936.46 | ▲ +1.50% | ▼ −0.84% | $907.47 (−1.64%) |
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