By Wendy Van Sickle
Columbus, Ohio, April 12 – GS Finance Corp. priced $2.92 million of callable fixed and floating rate notes due April 9, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 7% until after April 12, 2022 when interest will equal the difference between the 30-year CMS rate minus the five-year CMS rate minus 25 basis points, all multiplied by 7, with a floor of 0% and a cap of 10%. Interest is payable quarterly.
The notes will be callable quarterly starting April 9, 2022.
The payout at maturity will be par.
Goldman, Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable fixed and floating rate notes
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Amount: | $2.92 million
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Maturity: | April 9, 2031
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Spread: | 30-year CMS rate minus five-year CMS rate
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Coupon: | 7% for first year, then (difference between the 30-year CMS rate minus the five-year CMS rate minus 25 basis points) times 7, with floor of 0% and a cap of 10%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Quarterly starting April 9, 2022
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Pricing date: | April 7
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Settlement date: | April 9
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 3.302%
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Cusip: | 40057FU28
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