GS Finance to price fixed-to-floaters due 2023 linked to CMS rates

By Sarah Lizee

Olympia, Wash., April 27 – GS Finance Corp. plans to price callable fixed-to-floating notes due May 2023 linked to the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The interest rate will be 5% for the first year. After that, the rate will be equal to 20 times the 30-year CMS rate minus the two-year CMS rate, subject to a maximum interest rate of 10%. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes are callable in whole at par on any interest payment date beginning in May 2019.

Goldman Sachs & Co. LLC is the agent.

The notes will price and settle in May.

The Cusip number is 40055Q2D3.

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