Published on 7/5/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $7 million callable step-up notes with 3.5% initial rate
New York, July 5 – Goldman Sachs Group, Inc. priced $7 million of callable step-up fixed-rate notes due July 6, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.5% from July 6, 4% from July 6, 2024, 4.5% from July 6, 2029, 5% from July 6, 2033, 6% from July 6, 2034 and 7.5% from July 6, 2035.
The payout at maturity will be par.
The notes will be callable at par each Jan. 6, April 6, July 6 and Oct. 6 starting July 6, 2017.
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: | $7 million
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Maturity: | July 6, 2036
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Coupon: | 3.5% from July 6; 4% from July 6, 2024; 4.5% from July 6, 2029; 5% from July 6, 2033; 6% from July 6, 2034; 7.5% from July 6, 2035
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par each Jan. 6, April 6, July 6 and Oct. 6 starting July 6, 2017
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Pricing date: | June 30
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Settlement date: | July 6
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Underwriters: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 2.833%
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Cusip: | 38148TN96
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