Published on 6/17/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $20 million step-up notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., June 17 – Goldman Sachs Group, Inc. priced $20 million of callable step-up fixed-rate notes due June 20, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% in years one through five, 4% in years six through nine, 4.25% in years 10 through 12, 5% in years 13 and 14 and 6.5% in year 15. Interest is payable semiannually.
The payout at maturity will be par.
Beginning June 20, 2017, the notes will be callable at par on any quarterly redemption date.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $20 million
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Maturity: | June 20, 2031
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Coupon: | 3% in years one through five, 4% in years six through nine, 4.25% in years 10 through 12, 5% in years 13 and 14 and 6.5% in year 15; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | Beginning June 20, 2017, notes will be callable at par on any quarterly redemption date
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Pricing date: | June 15
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Settlement date: | June 20
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.35%
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Cusip: | 38148TN47
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