By William Gullotti
Buffalo, N.Y., Nov. 14 – GS Finance Corp. priced $5 million of callable rate-linked range accrual notes due Nov. 10, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 6.8% for the first year. After that, it will accrue at the same rate for each day that the 10-year U.S. Dollar SOFR ICE swap rate is greater than or equal to 0% and less than or equal to 7%.
Interest will be paid quarterly.
The notes may be called at par plus any accrued interest on any quarterly payment date after one year.
The payout at maturity will be par plus any accrued interest.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable rate-linked range accrual notes
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Underlying rate: | 10-year U.S. Dollar SOFR ICE swap
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Amount: | $5 million
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Maturity: | Nov. 10, 2030
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Coupon: | Fixed at 6.8% for the first year; after that, accruing at a rate of 6.8% per year for each day that the underlying rate is greater than or equal to 0% and less than or equal to 7%; payable quarterly
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Price: | Par
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Payout at maturity: | Par plus any accrued interest
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Call option: | At par plus any accrued interest on any interest payment date after one year
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Pricing date: | Nov. 8
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Settlement date: | Nov. 10
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.25%
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Cusip: | 40057X3X1
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