Published on 9/20/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs sells $10 million callable step-up fixed-rate notes with 4.25% initial rate
By Toni Weeks
San Diego, Sept. 20 - Goldman Sachs Group, Inc. priced $10 million of callable step-up fixed-rate notes due Sept. 21, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4.25% for the first six years. It will step up to 5.5% on Sept, 21, 2017 and to 7.5% on Sept. 21, 2019. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on each March 21, June 21, Sept. 21 and Dec. 21 beginning March 21, 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: | $10 million
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Maturity: | Sept. 21, 2021
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Coupon: | Initially 4.25%, stepping up to 5.5% on Sept. 21, 2017 and to 7.5% on Sept. 21, 2019; 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 each March 21, June 21, Sept. 21 and Dec. 21 beginning March 21, 2012
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Underwriters: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 2.53%
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Cusip: | 38143UE72
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