New Issue: Goldman prices $10 million fixed-to-floaters on 10-year CMS rate

By Sarah Lizee

Olympia, Wash., April 16 – Goldman Sachs Group, Inc. priced $10 million of fixed-to-floating notes due April 4, 2028 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 5.3% for the first year. After that, 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.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Fixed-to-floating notes
Amount:	$10 million
Maturity:	April 4, 2028
Coupon:	5.3% initially; beginning April 4, 2019, equal to the 10-year CMS rate, subject to a 0% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 28
Settlement date:	April 4
Agents:	Goldman Sachs & Co. LLC and Incapital LLC
Fees:	4.1%
Cusip:	38150A6M2

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