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Goldman plans seven-year fixed-to-floaters with 4.1% initial rate
By Susanna Moon
Chicago, Jan. 21 - Goldman Sachs Group, Inc. plans to price seven-year fixed-to-floating notes, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4.1% for the first two years. After Jan. 31, 2013, the rate will be Libor plus 100 basis points. After July 31, 2014 the rate will be capped at 7%. Interest is payable quarterly.
The payout at maturity will be par.
The notes (Cusip: 38143UQZ7) will settle on Jan. 31.
Goldman Sachs & Co. is the underwriter.
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