Published on 8/31/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $4 million callable step-up fixed-rate notes with 2.25% initial rate
New York, Aug. 31 – Goldman Sachs Group, Inc. priced $4 million of callable step-up fixed-rate notes due Aug. 31, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 2.25% from Aug. 31, 2.75% from Aug. 31, 2020, 3.5% from Aug. 31, 2022, 4.5% from Aug. 31, 2024 and 5.5% from Aug. 31, 2025.
The payout at maturity will be par.
The notes will be callable at par each Feb., May, Aug. and Nov. starting Aug. 31, 2018.
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 million
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Maturity: | Aug. 31, 2026
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Coupon: | 2.25% from Aug. 31; 2.75% from Aug. 31, 2020; 3.5% from Aug. 31, 2022; 4.5% from Aug. 31, 2024; 5.5% from Aug. 31, 2025
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par each Feb., May, Aug. and Nov. starting Aug. 31, 2018
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Pricing date: | Aug. 29
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Settlement date: | Aug. 31
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Underwriters: | Goldman, Sachs & Co. and Incapital LLC
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Fees: | 1.975%
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Cusip: | 38148TNM7
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