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Goldman Sachs Group, Inc. | Floating Rate Non-Cumulative Preferred Stock, Series C (GS.PRC)

Prospectus exerpt:  Each of the 8,000,000 depositary shares offered hereby represents a 1/1,000th ownership interest in a share of perpetual Floating Rate Non-Cumulative Preferred Stock, Series C (“Series C Preferred Stock”), $25,000 liquidation preference per share, of The Goldman Sachs Group, Inc., deposited with JPMorgan Chase Bank, N.A., as depositary. The depositary shares are evidenced by depositary receipts. As a holder of depositary shares, you are entitled to all proportional rights and preferences of the Series C Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary.

Holders of Series C Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors or a duly authorized committee of the board. Any such dividends will be payable from the date of original issue on a non-cumulative basis, quarterly in arrears on the 10th day of February, May, August and November of each year, commencing on February 10, 2006, at a rate per annum equal to the greater of (1) 0.75% above LIBOR on the related LIBOR determination date or (2) 4.00%.

In the event dividends are not declared on Series C Preferred Stock for payment on any dividend payment date, then those dividends will not be cumulative and will cease to accrue and be payable. If we have not declared a dividend before the dividend payment date for any dividend period, we will have no obligation to pay dividends accrued for that dividend period, whether or not dividends on the Series C Preferred Stock are declared for any future dividend period.

The Series C Preferred Stock is not redeemable prior to October 31, 2010. On and after that date, the Series C Preferred Stock will be redeemable at our option, in whole or in part, at a redemption price of $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends. The Series C Preferred Stock will not have voting rights, except as set forth under “Description of Series C Preferred Stock — Voting Rights” on page S-16.

Full Prospectus PDF », GS Page »

Series:C
Redeemable?:Yes
Call Date:10/31/2010 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:8,000,000
Liquidation Preference:$25
Recent Market Price:$20.36
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-4.64 (-18.56%)
Annualized Dividend:1.01112
Recent Ex-Date:7/23/2014
Current Yield:4.97%
Original Coupon:Greater of 0.75% above LIBOR on the related LIBOR determination date or 4.00%.
Pay Period:Quarterly
Pay Dates:10-Feb, 10-May, 10-Aug, 10-Nov
Goldman Sachs Group is a bank and financial holding company. Co. operates in four segments: Investment Banking, which serves corporate and government clients and provides financial advisory services; Institutional Client Services, which serve its clients who come to the firm to buy and sell financial products, raise funding and manage risk; Investing and Lending, which provides investing and lending activities across various asset classes, primarily debt securities and loans, public and private equity securities, and real estate; and Investment Management, which provides investment and wealth advisory services. As of Dec 31 2013, Co. had assets under management of $919.00 billion.

Preferreds: GS.PRA, GS.PRB, GS.PRC, GS.PRD, GS.PRI, GS.PRJ, GS.PRK


Open the GS Information Page »
Name:  Goldman Sachs Group, Inc.
Website:  www.gs.com
Sector:  Investment Brokerages
Number of ETFs Holding GS:  99 (see which ones)
Total Market Value Held by ETFs:  $4,105,505,968
Total Market Capitalization:  $81,560,000,000
% of Market Cap. Held by ETFs:  5.03%

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