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Goldman Sachs to price fixed-to-floaters linked to 10-year CMS rate
By Sarah Lizee
Olympia, Wash., March 16 – Goldman Sachs Group, Inc. plans to price fixed-to-floating notes due March 2028 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4.65% for the first three years. Beginning March 2021, the rate will be equal to the 10-year CMS rate. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Goldman Sachs & Co. LLC and Incapital LLC are the agents.
The notes will price and settle in March.
The Cusip number is 38150A6K6.
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