Published on 3/16/2012 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $55 million callable step-up notes due 2022 with 4% initial rate
By Toni Weeks
San Diego, March 16 - Goldman Sachs Group, Inc. priced $55 million of callable step-up fixed-rate notes due March 20, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4% for the first four years. It will step up to 5% on March 20, 2016, to 6% on March 20, 2018 and to 7.5% on March 20, 2021. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on each March 20, June 20, Sept. 20 and Dec. 20 beginning Sept. 20, 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: | $55 million
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Maturity: | March 20, 2022
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Coupon: | 4% initially, stepping up to 5% on March 20, 2016, to 6% on March 20, 2018 and to 7.5% on March 20, 2021; 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 20, June 20, Sept. 20 and Dec. 20 beginning Sept. 20, 2012
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Pricing date: | March 14
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Settlement date: | March 20
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Underwriters: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 3.169%
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Cusip: | 38143UT35
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