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Goldman plans five-year fixed-to-floaters with 3.25% initial rate
By Susanna Moon
Chicago, Aug. 11 - Goldman Sachs Group, Inc. plans to price fixed-to-floating notes due August 2016, according to an FWP with the Securities and Exchange Commission.
The coupon will be 3.25% for the first year. After that, the rate will be Libor plus 200 basis points, up to a cap of 7% beginning August 2014. Interest is payable quarterly.
The payout at maturity will be par.
Goldman Sachs & Co. is the agent.
The notes will settle in August.
The Cusip is 38143UXV8.
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