New Issue: Goldman Sachs prices $7.42 million fixed-to-floating notes with 2% initial rate

By Toni Weeks

San Luis Obispo, Calif., June 14 - Goldman Sachs Group, Inc. priced $7.42 million of fixed-to-floating notes due June 17, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2% for the first two years. After that it will be equal to Libor plus 150 basis points, subject to a minimum rate of 1.5%. Beginning June 17, 2017, the interest rate will be capped at a maximum rate of 7%. 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:	$7,416,000
Maturity:	June 17, 2023
Coupon:	2% initially; beginning June 17, 2015, Libor plus 150 basis points, subject to a minimum rate of 1.5%; coupon capped at 7% beginning June 17, 2017
Price:	Par
Payout at maturity:	Par
Pricing date:	June 12
Settlement date:	June 17
Agent:	Goldman Sachs & Co.
Fees:	1.863%
Cusip:	38147QBS4

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