By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – GS Finance Corp. priced $2 million of callable fixed and floating rate notes due Oct. 31, 2037, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 16% until Oct. 31, 2023, when interest will equal 20 times the spread of the 30-year U.S. dollar SOFR ICE swap rate minus the two-year U.S. dollar SOFR ICE swap rate, subject to a floor of 3% and a cap of 20%. Interest is payable quarterly.
The notes will be callable quarterly starting Oct. 31, 2023.
The payout at maturity will be par.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 million
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| Maturity: | Oct. 31, 2037
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| Coupon: | 16% for first year, then 20 times spread of 30-year U.S. dollar SOFR ICE swap rate minus two-year U.S. dollar SOFR ICE swap rate, with floor of 3% and a cap of 20%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Quarterly starting Oct. 31, 2023
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 31
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.5%
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| Cusip: | 40057NSQ1
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