New Issue: Goldman Sachs prices $13.5 million fixed-to-floating notes with 2.5% initial rate

By Toni Weeks

San Luis Obispo, Calif., March 5 - Goldman Sachs Group, Inc. priced $13.5 million of fixed-to-floating notes due March 6, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2.5% for the first year. Beginning March 6, 2014, it will be Libor plus 75 basis points, subject to a minimum interest rate of 0.75%. In years three through five, the interest rate is capped at 5% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Goldman Sachs & Co. is the agent.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Fixed-to-floating notes
Amount:	$13.5 million
Maturity:	March 6, 2018
Coupon:	2.5% initially; beginning March 6, 2014, Libor plus 75 bps, floor of 0.75% and, beginning March 6, 2015, capped at 5%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 1
Settlement date:	March 6
Agent:	Goldman Sachs & Co.
Fees:	0.95%
Cusip:	38141GPW8

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