Published on 11/10/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.09 million fixed-to-floaters linked to CMS rate
By Angela McDaniels
Tacoma, Wash., Nov. 10 – Goldman Sachs Group, Inc. priced $6.09 million of fixed-to-floating-rate notes due Nov. 10, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3.9% for the first three years. After that, the interest rate will be equal to the then-applicable 10-year Constant Maturity Swap rate, subject to a minimum rate of zero. 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
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Underlying rate: | 10-year Constant Maturity Swap rate
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Amount: | $6,085,000
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Maturity: | Nov. 10, 2026
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Coupon: | 3.9% for first three years; after that, rate equal to then-applicable 10-year CMS rate, subject to minimum rate of zero; payable quarterly
|
Price: | Par
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Payout at maturity: | Par
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Pricing date: | Nov. 5
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Settlement date: | Nov. 10
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Underwriter: | Goldman Sachs & Co.
|
Fees: | 1.325%
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Cusip: | 38148TGX1
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