New Issue: Goldman Sachs prices $4.06 million fixed-to-floating notes with 2% initial rate

By Toni Weeks

San Luis Obispo, Calif., June 27 - Goldman Sachs Group, Inc. priced $4.06 million of fixed-to-floating notes due June 28, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2% for the first 18 months. After that it will be equal to Libor plus 140 basis points, subject to a minimum rate of 1.4%. Beginning June 28, 2016, 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:	$4,057,000
Maturity:	June 28, 2020
Coupon:	2% initially; beginning Dec. 28, 2014, Libor plus 140 basis points, subject to a minimum rate of 1.4%; coupon capped at 7% beginning June 28, 2016
Price:	Par
Payout at maturity:	Par
Pricing date:	June 25
Settlement date:	June 28
Agent:	Goldman Sachs & Co.
Fees:	1.65%
Cusip:	38147QCS3

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