Published on 5/8/2013 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $5.65 million fixed-to-floating notes with 2% initial rate
By Toni Weeks
San Luis Obispo, Calif., May 8 - Goldman Sachs Group, Inc. priced $5.65 million of fixed-to-floating notes due May 8, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% for the first year. After that, it will be equal to Libor plus 85 basis points, subject to a minimum rate of 0.85%. Beginning May 8, 2015, the interest rate will be capped at a maximum rate of 5%. Interest is 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: | $5.65 million
|
Maturity: | May 8, 2018
|
Coupon: | 2% initially; beginning May 8, 2014, Libor plus 85 basis points, subject to a minimum rate of 0.85%; coupon capped at 5% beginning May 8, 2015
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | May 3
|
Settlement date: | May 8
|
Agent: | Goldman Sachs & Co.
|
Fees: | 0.85%
|
Cusip: | 38141GTK0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.