Published on 2/8/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $10 million callable step-up fixed-rate notes with 2.5% initial rate
By Marisa Wong
Madison, Wis., Feb. 8 - Goldman Sachs Group, Inc. priced $10 million of callable step-up fixed-rate notes due Aug. 11, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 2.5% initially and steps up to 3% on Feb. 11, 2016, to 3.5% on Feb. 11, 2019, to 4.5% on Feb. 11, 2020, to 5.5% on Feb. 11, 2021, to 6.75% on Aug. 11, 2021 and to 7.75% on Feb. 11, 2022. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par each quarter starting Aug. 11, 2013.
Goldman, Sachs & Co. is the underwriter.
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: | Aug. 11, 2022
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Coupon: | 2.5% initially, steps up to 3% on Feb. 11, 2016, to 3.5% on Feb. 11, 2019, to 4.5% on Feb. 11, 2020, to 5.5% on Feb. 11, 2021, to 6.75% on Aug. 11, 2021 and to 7.75% on Feb. 11, 2022; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par each quarter staring Aug. 11, 2013
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Pricing date: | Feb. 6
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Settlement date: | Feb. 11
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Underwriters: | Goldman, Sachs & Co.
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Fees: | 2.1%
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Cusip: | 38141GMT8
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