Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $51.38 million floating-rate notes linked to SOFR
By Wendy Van Sickle
Columbus, Ohio, Aug. 15 – GS Finance Corp. priced $51.38 million of floating-rate notes due Aug. 14, 2063 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate is compounded SOFR plus a spread of 20 basis points, subject to a floor of 0%. Interest is payable quarterly.
There will be a put option annually after two years starting at 97, stepping up to 98 Aug. 14, 2026, to 99 on Aug. 14, 2032 and to par on Aug. 14, 2033.
The payout at maturity will be par plus accrued interest.
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: | Floating-rate notes
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Underlying rate: | SOFR
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Amount: | $51,375,000
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Maturity: | Aug. 14, 2063
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Coupon: | SOFR plus 20 bps with a floor of 0%, payable quarterly; rate resets quarterly
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Price: | Par
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Payout at maturity: | Par plus accrued interest
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Put option: | Annually after two years starting at 97, stepping up to 98 Aug. 14, 2026, to 99 on Aug. 14, 2032 and to par on Aug. 14, 2033
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Pricing date: | Aug. 19
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Settlement date: | Aug. 14
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1%
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Cusip: | 40057TTJ3
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