Goldman Sachs to Redeem Series Q, R, S Depositary Shares Feb. 10

Goldman Sachs announced that it will redeem all outstanding depositary shares representing its Series Q, Series R and Series S preferred stock, with the company setting the redemption date as Feb. 10, 2026. The January 26, 2026 press release reportedly "specifies the redemption price," but the available excerpt truncates before the dollar amounts are shown.

The incomplete notice leaves key operational details unknown to holders and to employees who support securities processing. Past company practice provides a clear playbook for how these events are run. In a September 19, 2024 redemption of Series P preferred stock, Goldman Sachs described mechanics explicitly: "The Depositary Shares will be redeemed for a redemption price equal to $1,000 per Depositary Share (equivalent to $25,000 per share of Series P Preferred Stock) plus an amount equal to any dividends that have accrued but not been paid for the then-current dividend period to but excluding the Redemption Date attributable to 1/25th of a share of Series P Preferred Stock (together, the 'Redemption Payment')." The Series P release also noted that "From and after the Redemption Date, all dividends will cease to accrue on the Series P Preferred Stock" and that redemptions are processed "in accordance with the applicable procedures of The Depositary Trust Company (DTC)."

For employees across Goldman Sachs, that precedent signals several concrete impacts. Operations and securities-settlement teams will need to execute DTC procedures, reconcile outstanding positions, and coordinate with the paying or transfer agent. Investor relations and client-service teams can expect an uptick in calls from institutional holders and beneficial owners seeking confirmation of payment timing and record-date mechanics. Legal and compliance will be tasked with ensuring the terms announced for Series Q, R and S match disclosure and regulatory filings. Treasury and capital-management staff will record the reduction in outstanding preferred equity and manage any near-term liquidity movements associated with the redemption payments.

The Series P release spelled out a specific paying-agent contact for that event: HSBC Bank USA, NA, Attn: Deal Management C/O Amy Kwok. It is not known whether Series Q, R and S will use the same agent or identical processing steps; the January 26, 2026 excerpt does not disclose paying-agent details, outstanding depositary-share counts, or the redemption-price figures.

What comes next for affected workers and holders is straightforward: obtain the full Goldman Sachs press release or an official investor-relations notice for Series Q, R and S to confirm the per-depositary-share redemption amount, any accrued-dividend payment, the paying agent and DTC instructions, and whether dividends cease to accrue after Feb. 10, 2026. For Goldman Sachs staff in operations, investor relations, legal and treasury, the immediate window before the redemption date will be busy with settlement tasks, client communications and internal accounting adjustments; holders should monitor company communications so they can reconcile payments once the primary terms are published.