By Angela McDaniels
Tacoma, Wash., Aug. 25 – Goldman Sachs Group, Inc. priced $19.01 million of fixed-to-floating-rate notes due Aug. 26, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.625% for the first three years. After that, the interest rate will be equal to the then-applicable 10-year Constant Maturity Swap rate, subject to a minimum rate of zero. Interest is payable quarterly.
The payout at maturity will be par.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $19.01 million
|
| Maturity: | Aug. 26, 2025
|
| Coupon: | 3.625% for first three years; after that, rate equal to then-applicable 10-year CMS rate, subject to minimum rate of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.45%
|
| Cusip: | 38148TBN8
|
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