New Issue: Goldman prices $3.38 million fixed-to-floaters with 3% initial rate

By Angela McDaniels

Tacoma, Wash., Oct. 1 – Goldman Sachs Group, Inc. priced $3.38 million of fixed-to-floating-rate notes due Oct. 2, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3% for the first two years. After Oct. 2, 2016, the interest rate will be Libor plus 105 basis points, subject to a minimum rate of zero and a maximum interest rate of 4% per year for the first 12 floating-rate interest payment dates, 5% per year for the next eight interest payment dates, 6% per year for the next eight interest payment dates and 7% per year for the final four interest payment dates. Interest is payable quarterly.

The payout at maturity will be par.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Fixed-to-floating-rate notes
Amount:	$3,375,000
Maturity:	Oct. 2, 2024
Coupon:	3% for first two years; after Oct. 2, 2016, Libor plus 105 bps, subject to minimum rate of zero and maximum interest rate of 4% per year for first 12 floating-rate interest payment dates, 5% per year for next eight interest payment dates, 6% per year for next eight interest payment dates and 7% per year for final four interest payment dates; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Sept. 29
Settlement date:	Oct. 2
Underwriter:	Goldman Sachs & Co.
Fees:	1.575%
Cusip:	38147QJ80

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