Published on 5/8/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $4.68 million callable step-up notes with 2.5% start rate
By Marisa Wong
Madison, Wis., May 8 – Goldman Sachs Group, Inc. priced $4.68 million of callable step-up fixed-rate notes due May 11, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 2.5% from May 11, 3.75% from May 11, 2020 and 6% from May 11, 2023. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par each Feb. 11, May 11, Aug. 11 and Nov. 11 starting May 11, 2016.
Goldman, Sachs & Co. and Incapital LLC are the underwriters.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $4,678,000
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Maturity: | May 11, 2025
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Coupon: | 2.5% initially, stepping up to 3.75% on May 11, 2020 and to 6% on May 11, 2023; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par each Feb. 11, May 11, Aug. 11 and Nov. 11 starting May 11, 2016
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Pricing date: | May 6
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Settlement date: | May 11
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Underwriters: | Goldman, Sachs & Co. and Incapital LLC
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Fees: | 2.399%
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Cusip: | 38147QZM1
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