New Issue: Goldman sells $5.25 million callable step-up notes with 2% initial rate

By Marisa Wong

Morgantown, W.Va., Sept. 18 – Goldman Sachs Group, Inc. priced $5.25 million of callable step-up fixed-rate notes due Sept. 21, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 2% initially, stepping up to 2.75% on Sept. 21, 2017, to 3% on Sept. 21, 2018, to 4% on Sept. 21, 2019 and to 5% on March 21, 2020. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par each March 21, June 21, Sept. 21 and Dec. 21 starting March 21, 2016.

Goldman, Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$5.25 million
Maturity:	Sept. 21, 2020
Coupon:	2% initially, stepping up to 2.75% on Sept. 21, 2017, to 3% on Sept. 21, 2018, to 4% on Sept. 21, 2019 and to 5% on March 21, 2020; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par each March 21, June 21, Sept. 21 and Dec. 21 starting March 21, 2016
Pricing dates:	Sept. 16 for $3.5 million, Sept. 17 for $1.75 million
Settlement date:	Sept. 21
Underwriters:	Goldman, Sachs & Co.
Fees:	0.99% for $3.5 million, 0.83% for $1.75 million
Cusip:	38148TDR7

© 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.