Published on 3/15/2019 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $3 million callable step-up notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., March 15 – Goldman Sachs Group, Inc. priced $3 million of callable step-up fixed-rate notes due March 15, 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4% initially, stepping up to 4.5% on March 15, 2028 and to 5% on March 15, 2033. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par each March 15, June 15, Sept. 15 and Dec. 15 starting March 15, 2022.
Goldman Sachs & Co. is the agent.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $3 million
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Maturity: | March 15, 2034
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Coupon: | 4% initially, stepping up to 4.5% on March 15, 2028 and to 5% on March 15, 2033; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par each March 15, June 15, Sept. 15 and Dec. 15 starting March 15, 2022
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Pricing date: | March 13
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Settlement date: | March 15
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Agent: | Goldman Sachs & Co.
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Fees: | 1.867%
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Cusip: | 38150ACD5
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