Published on 1/2/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs sells $5 million callable step-up notes with 3.25% initial rate
By Sarah Lizee
Olympia, Wash., Jan. 2 – Goldman Sachs Group, Inc. priced $5 million of callable step-up fixed-rate notes due Dec. 27, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The notes were priced in two parts, with $3 million of the notes priced on Dec. 21 and $2 million of the note priced on Dec. 22.
The coupon is 3.25% initially through Dec. 27, 2022, rising to 3.5% after that date and to 4% from Dec. 27, 2026.
The payout at maturity will be par.
The notes will be callable at par each March 27, June 27, Sept. 27 and Dec. 27 starting Dec. 27, 2020.
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: | $5 million
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Maturity: | Dec. 27, 2029
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Coupon: | 3.25% through Dec. 27, 2022, then 3.5%, stepping up to 4% from Dec. 27, 2026
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par each March 27, June 27, Sept. 27 and Dec. 27 starting Dec. 27, 2020
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Pricing date: | Dec. 21 for $3 million of notes; Dec. 22 for the $2 million notes
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Settlement date: | Dec. 27
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Underwriters: | Goldman, Sachs & Co. and Incapital LLC
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Fees: | 2.515% for the $3 million traded on Dec. 21; 2.425% for the $2 million traded on Dec. 22
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Cusip: | 38150A5J0
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