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Goldman Sachs plans five-year fixed-to-floaters with 3% initial rate
By Toni Weeks
San Diego, Jan. 25 - Goldman Sachs Group, Inc. plans to price five-year fixed-to-floating notes, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first two years. After Jan. 31, 2013, the rate will be Libor plus 100 basis points, capped at 6.5%. Interest is payable quarterly.
The payout at maturity will be par.
The notes (Cusip 38143URA1) will settle on Jan. 31.
Goldman Sachs & Co. is the underwriter.
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