Published on 3/14/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $6.37 million callable step-up notes with 3.25% initial rate
By Sarah Lizee
Olympia, Wash., March 14 – Goldman Sachs Group, Inc. priced $6.37 million of callable step-up fixed-rate notes due March 14, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.25% initially, stepping up to 4% on March 14, 2021, to 5% on March 14, 2024 and to 6% on March 14, 2025. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par quarterly beginning March 14, 2020.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $6,365,000
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Maturity: | March 14, 2026
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Coupon: | 3.25% initially, stepping up to 4% on March 14, 2021, to 5% on March 14, 2024 and to 6% on March 14, 2025; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par in whole quarterly beginning March 14, 2020
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Pricing date: | March 12
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Settlement date: | March 14
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.734%
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Cusip: | 38150A6A8
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