By William Gullotti
Buffalo, N.Y., May 20 – GS Finance Corp. priced $2 million of callable fixed and floating rate notes due May 18, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 8% until May 18, 2024, when interest will equal the difference between the 30-year U.S. dollar SOFR ICE swap rate minus the two-year U.S. dollar SOFR ICE swap rate multiplied by 10, subject to a floor of 2% and a cap of 10%. Interest is payable quarterly.
The notes will be callable quarterly starting May 18, 2023.
The payout at maturity will be par.
Goldman, Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable fixed and floating rate notes
|
| Amount: | $2 million
|
| Maturity: | May 18, 2032
|
| Spread: | 30-year U.S. dollar SOFR ICE swap rate minus two-year U.S. dollar SOFR ICE swap rate
|
| Coupon: | 8% for first two years, then difference between the 30-year U.S. dollar SOFR ICE swap rate minus the two-year U.S. dollar SOFR ICE swap rate times 10, with floor of 2% and a cap of 10%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Quarterly starting May 18, 2023
|
| Pricing date: | May 16
|
| Settlement date: | May 18
|
| Underwriter: | Goldman, Sachs & Co. LLC
|
| Fees: | 1.35%
|
| Cusip: | 40057LZZ7
|
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