By William Gullotti and Cristal Cody
Buffalo, N.Y., March 13 – Goldman Sachs Bank USA priced $3 billion of three-year bank notes in two parts on Tuesday, according to information provided by a market source.
The bank priced $750 million of floaters at SOFR plus 77 basis points.
The second tranche of three-year notes totals $2.25 billion with an initial 5.283% coupon, priced at 68 bps over Treasuries. The coupon will reset at SOFR plus 77.7 bps.
Initial talk for the fixed-to-floaters was in Treasuries plus 90 bps area.
Each tranche features two years of call protection.
Goldman Sachs & Co. LLC was the bookrunner.
Goldman Sachs Bank USA is a New York City-based banking and financial services company and subsidiary of Goldman Sachs Group Inc.
| Issuer: | Goldman Sachs Bank USA
|
| Amount: | $3 billion
|
| Issue: | Bank notes
|
| Maturity: | March 18, 2027
|
| Bookrunner: | Goldman Sachs & Co. LLC
|
| Call: | Non-callable for two years
|
| Trade date: | March 12
|
|
|
| Floating-rate notes
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| Amount: | $750 million
|
| Coupon: | SOFR plus 77 bps
|
| Price talk: | SOFR plus equivalent
|
|
|
| Fixed-to-floaters
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| Amount: | $2.25 billion
|
| Coupon: | 5.283%, resets at SOFR plus 77.7 bps
|
| Spread: | Treasuries plus 68 bps
|
| Price talk: | Treasuries plus 90 bps area
|
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