Published on 10/6/2017 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $20.6 million fixed-to-floaters with 5% initial rate
By Marisa Wong
Morgantown, W.Va., Oct. 6 – Goldman Sachs Group, Inc. priced $20.6 million of fixed-to-floating notes due Oct. 6, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 5% initially. Beginning on Jan. 6, 2019, the rate will be equal to Libor plus 110 basis points, subject to a maximum rate of 6% and minimum rate of 0%. Interest is payable quarterly.
The payout at maturity will be par.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Fixed-to-floating notes
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| Amount: | $20.6 million
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| Maturity: | Oct. 6, 2027
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| Coupon: | 5% initially; beginning on Jan. 6, 2019, Libor plus 110 bps, cap of 6% and floor of 0%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 6
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| Agent: | Goldman, Sachs & Co. LLC
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| Fees: | 0.935%
|
| Cusip: | 38150A4M4
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