Published on 12/2/2016 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs sells $1.75 million callable step-up fixed-rate notes with 3.5% initial rate
By Devika Patel
Knoxville, Tenn., Dec. 2 – Goldman Sachs Group, Inc. priced $1.75 million of callable step-up fixed-rate notes due Nov. 30, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.5% from Nov. 30, 2016, 4% from Nov. 30, 2024, 4.5% from Nov. 30, 2029, 5% from Nov. 30, 2032, 6% from Nov. 30, 2034 and 8% from Nov. 30, 2035.
Interest is payable semiannually each May 30 and Nov. 30.
The payout at maturity will be par.
The notes will be callable at par in whole but not in part on the last calendar day of each February, May, August and November. starting Nov. 30, 2017.
Goldman Sachs & Co. and Incapital LLC are the agents.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $1.75 million
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Maturity: | Nov. 30, 2036
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Coupon: | 3.5% from Nov. 30, 2016; 4% from Nov. 30, 2024; 4.5% from Nov. 30, 2029; 5% from Nov. 30, 2032; 6% from Nov. 30, 2034 and 8% from Nov. 30, 2035
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on the last calendar day of each February, May, August and November. starting Nov. 30, 2017
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Pricing date: | Nov. 28
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Settlement date: | Nov. 30
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Agent: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 3.279%
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Cusip: | 38148TPC7
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