Goldman to price fixed-to-floating notes linked to 10-year CMS rate

By Marisa Wong

Morgantown, W.Va., Aug. 5 – Goldman Sachs Group, Inc. plans to price fixed-to-floating-rate notes due August 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be fixed at 3.625% for the first three years. After that, the interest rate will be equal to the 10-year CMS rate, subject to a minimum rate of zero. Interest will be payable quarterly.

The payout at maturity will be par.

Goldman Sachs & Co. is the underwriter.

The notes will price and settle in August.

The Cusip number is 38148TBN8.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.