Published on 8/12/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $11 million callable step-up fixed-rate notes with 3.5% initial rate
By Toni Weeks
San Diego, Aug. 12 - Goldman Sachs Group, Inc. priced $11 million of callable step-up fixed-rate notes due Feb. 15, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.5% for the first four years. It will step up to 4% on Aug. 15, 2015, to 5% on Aug. 15, 2016 and to 7% on Aug. 15, 2017. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Feb. 15, 2012.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $11 million
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Maturity: | Feb. 15, 2019
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Coupon: | 3.5% for first four years, stepping up to 4% on Aug. 15, 2015, to 5% on Aug. 15, 2016 and to 7% on Aug. 15, 2017; 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 interest payment dates starting Feb. 15, 2012
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Pricing date: | Aug. 10
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Settlement date: | Aug. 15
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Underwriters: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 2.573%
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Cusip: | 38143UXE6
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