Chicago, May 10 – GS Finance Corp. priced $1.98 million of callable fixed and floating rate notes due March 24, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 6% until after March 24, 2022 when interest will equal the difference between the 30-year CMS rate minus the five-year CMS rate minus 25 basis points multiplied by seven, with a floor of 0% and a cap of 10%. Interest is payable quarterly.
The notes will be callable quarterly starting March 24, 2022.
The payout at maturity will be par.
Goldman, Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable fixed and floating rate notes
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Amount: | $1,975,000
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Maturity: | March 24, 2031
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Spread: | 30-year CMS rate minus five-year CMS rate
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Coupon: | 6% for first year, then difference between the 30-year CMS rate minus the five-year CMS rate minus 25 bps times seven, with floor of 0% and a cap of 10%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Quarterly starting March 24, 2022
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Pricing date: | March 22
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Settlement date: | March 24
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 4.537%
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Cusip: | 40057FSG0
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