Goldman Sachs proposes public offering of Fixed Rate Reset Series Y preferred to redeem Series P

GOLDMAN SACHS GROUP INC

Launch of proposed public offering of depositary shares representing 1/25th interest in Fixed Rate Reset Non-Cumulative Preferred Stock, Series Y.
Intends to use net proceeds to redeem all outstanding 5.00% Fixed-to-Floating Non-Cumulative Preferred Stock, Series P ($25,000 liquidation preference per share).
Offering is subject to pricing and market conditions; no assurance it will close or that redemption will occur.
If priced and closed, redemption of Series P will be announced by press release and notice of redemption.

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