By Marisa Wong and Cristal Cody
Los Angeles, Oct. 19 – Goldman Sachs Group Inc. priced floating-rate notes and fixed-to-floating rate notes in five tranches on Monday, according to a market source.
Goldman Sachs priced $450 million of floating-rate notes due Oct. 21, 2024 at par to yield SOFR plus 49 basis points.
The company priced $2 billion of 0.925% fixed-to-floating rate notes due Oct. 21, 2024 at par to yield Treasuries plus 50 bps. The interest rate resets to SOFR plus 49.6 bps. These three-year fixed-to-floaters were talked in the Treasuries plus 70 bps area.
Goldman Sachs also priced $300 million of floating-rate notes due Oct. 21, 2027 at par to yield SOFR plus 92 bps.
The company sold $3.25 billion of 1.948% fixed-to-floating rate notes due Oct. 21, 2027 at par to yield Treasuries plus 78 bps. The rate resets to SOFR plus 91.3 bps. Talk for these six-year fixed-to-floaters was in the Treasuries plus 100 bps area.
The $3 billion tranche of 2.65% fixed-to-floaters due Oct. 21, 2032 priced at par yield Treasuries plus 105 bps. The rate resets to SOFR plus 126.4 bps. The 11-year notes were talked in the Treasuries plus 120 bps area.
Both tranches of three-year notes are non-callable for two years; the two six-year notes are non-callable for five years; and the 11-year notes are non-callable for 10 years.
Goldman Sachs & Co. LLC is listed as the bookrunner.
The banking, securities and investment management company is based in New York.
| Issuer: | Goldman Sachs Group Inc.
|
| Amount: | $9 billion
|
| Bookrunner: | Goldman Sachs & Co. LLC
|
| Pricing date: | Oct. 18
|
|
|
| Three-year floaters
|
| Amount: | $450 million
|
| Securities: | Floating-rate notes
|
| Maturity: | Oct. 21, 2024
|
| Coupon: | SOFR plus 49 bps
|
| Price: | Par
|
| Yield: | SOFR plus 49 bps
|
| Call option: | Non-callable for two years
|
|
|
| 2024 fixed-to-floaters
|
| Amount: | $2 billion
|
| Securities: | Fixed-to-floating rate notes
|
| Maturity: | Oct. 21, 2024
|
| Coupon: | 0.925%, resets to SOFR plus 49.6 bps
|
| Price: | Par
|
| Spread: | Treasuries plus 50 bps
|
| Call option: | Non-callable for two years
|
| Price talk: | Treasuries plus 70 bps area
|
|
|
| Six-year floaters
|
| Amount: | $300 million
|
| Securities: | Floating-rate notes
|
| Maturity: | Oct. 21, 2027
|
| Coupon: | SOFR plus 92 bps
|
| Price: | Par
|
| Yield: | SOFR plus 92 bps
|
| Call option: | Non-callable for five years
|
|
|
| 2027 fixed-to-floaters
|
| Amount: | $3.25 billion
|
| Securities: | Fixed-to-floating rate notes
|
| Maturity: | Oct. 21, 2027
|
| Coupon: | 1.948%, resets to SOFR plus 91.3 bps
|
| Price: | Par
|
| Spread: | Treasuries plus 78 bps
|
| Call option: | Non-callable for five years
|
| Price talk: | Treasuries plus 100 bps area
|
|
|
| 2032 fixed-to-floaters
|
| Amount: | $3 billion
|
| Securities: | Fixed-to-floating notes
|
| Maturity: | Oct. 21, 2032
|
| Coupon: | 2.65%, resets to SOFR plus 126.4 bps
|
| Price: | Par
|
| Spread: | Treasuries plus 105 bps
|
| Call option: | Non-callable for 10 years
|
| Price talk: | Treasuries plus 120 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
