Published on 5/11/2012 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $7 million fixed-to-floaters with 5% initial rate, cap
By Susanna Moon
Chicago, May 11 - Goldman Sachs Group, Inc. priced $7 million of fixed-to-floating notes due May 14, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5% for the first year. After that it will be Libor plus 200 basis points, up to a maximum rate of 5% beginning in May 2014. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Goldman, Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $7 million
|
| Maturity: | May 14, 2017
|
| Coupon: | 5% initially; beginning May 14, 2013, Libor plus 200 bps, and then capped at 5% beginning in May 2014; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Agent: | Goldman, Sachs & Co.
|
| Fees: | 1.365%
|
| Cusip: | 38143U3T6
|
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