Published on 8/21/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs sells $3.1 million step-up notes with 3.5% initial rate
By Sarah Lizee
Olympia, Wash., Aug. 21 – Goldman Sachs Group, Inc. priced $3.1 million of callable step-up fixed-rate notes due Aug. 21, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.5% initially, stepping up to 4% on Aug. 1, 2020, to 5% on Aug. 1, 2023 and to 6% on Aug. 1, 2024. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly starting Aug. 21, 2019.
Goldman Sachs & Co. and Incapital LLC are the agents.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $3,104,000
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Maturity: | Aug. 21, 2025
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Coupon: | 3.5% initially, stepping up to 4% on Aug. 1, 2020, to 5% on Aug. 1, 2023 and to 6% on Aug. 1, 2024; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | Callable at par quarterly beginning Aug. 21, 2019
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Pricing date: | Aug. 17
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Settlement date: | Aug. 21
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Agents: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 1.528%
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Cusip: | 38150AAX3
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