By Taylor Fox
New York, Feb. 22 – GS Finance Corp. priced $2.5 million of callable fixed and floating rate notes due Jan. 29, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 5.5% until Jan. 29, 2022 when the coupon will convert to a floating rate and will equal 5.5 times the difference between the 30-year CMS rate minus the five-year CMS rate with a floor of zero and a cap of 6%. Interest is payable quarterly.
The notes will be callable quarterly starting Jan. 29, 2022.
The payout at maturity will be par plus any interest due.
Goldman, Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable fixed and floating rate notes
|
| Amount: | $2.5 million
|
| Maturity: | Jan. 29, 2036
|
| Spread: | 30-year CMS rate minus five-year CMS rate
|
| Coupon: | 5.5% for first year, then 5.5 times the difference between the 30-year CMS rate minus the five-year CMS rate with floor of zero and a cap of 6%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Quarterly starting Jan. 29, 2022
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 29
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 1.75%
|
| Cusip: | 40057FD43
|
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