Published on 11/10/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $9 million callable step-up notes with 4% initial rate
By Jennifer Chiou
New York, Nov. 10 - Goldman Sachs Group, Inc. priced $9 million of callable step-up fixed-rate notes due Nov. 15, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4% for the first four years, stepping up to 5% on Nov. 15, 2015 and to 6% on Nov. 15, 2018. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on Feb. 15, May 15, Aug. 15 and Nov. 15 of each year beginning on May 15, 2012.
Goldman Sachs & Co. and Incapital LLC are the agents.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $9 million
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Maturity: | Nov. 15, 2020
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Coupon: | 4% for the first four years, stepping up to 5% on Nov. 15, 2015 and to 6% on Nov. 15, 2018; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on Feb. 15, May 15, Aug. 15 and Nov. 15 of each year beginning on May 15, 2012
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Pricing dates: | Nov. 9
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Settlement date: | Nov. 15
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Agents: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 2.833%
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Cusip: | 38143UZH7
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