Published on 8/16/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $10 million fixed and floating rate notes with 3.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, Aug. 16 – Goldman Sachs Group, Inc. priced $10 million of fixed and floating rate notes due Aug. 15, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.25% until after Aug. 15, 2018 when interest will equal Libor plus 80 basis points with a floor of zero and a cap of 5%. Interest is payable quarterly.
The payout at maturity will be par.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Fixed and floating rate notes
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| Amount: | $10 million
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| Maturity: | Aug. 15, 2024
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| Coupon: | 3.25% for first year, then Libor plus 80 basis points with floor of zero and ceiling of 5%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 1.15%
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| Cusip: | 38150A3Z6
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