Published on 11/6/2012 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $29 million callable step-up notes due 2019 with 2% initial rate
By Toni Weeks
San Diego, Nov. 6 - Goldman Sachs Group, Inc. priced $29 million of callable step-up fixed-rate notes due Nov. 7, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 2% for the first three years. It will step up to 2.85% on Nov. 7, 2015, to 3.85% on Nov. 7, 2017, to 4.85% on Nov. 7, 2018 and to 5.85% on May 7, 2019. Interest will be payable semiannually.
The notes will be callable at par quarterly beginning May 7, 2013.
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: | $29 million
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Maturity: | Nov. 7, 2019
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Coupon: | 2% initially, stepping up to 2.85% on Nov. 7, 2015, to 3.85% on Nov. 7, 2017, to 4.85% on Nov. 7, 2018 and to 5.85% on May 7, 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 May 7, Aug. 7, Nov. 7 and Feb. 7 beginning May 7, 2013
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Pricing date: | Nov. 2
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Settlement date: | Nov. 7
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Underwriters: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 1.96%
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Cusip: | 38141GGU2
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