Goldman Sachs launches proposed public offering of new Series X preferred stock, plans to redeem Series K

GOLDMAN SACHS GROUP INC

Proposed public offering of depositary shares representing new Fixed Rate Reset Non-Cumulative Preferred Stock, Series X.
Net proceeds intended to redeem all outstanding 6.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series K ($25,000 liquidation preference per share).
Offering subject to market conditions; pricing not yet occurred. No assurance offering will close or redemption will occur.
Series K Preferred depositary shares trade on NYSE under symbol GS PrK.

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