Chicago, Jan. 26 – GS Finance Corp. priced $984,000 of callable fixed and floating rate notes due Aug. 31, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 6% until after Aug. 31, 2022 when interest will equal the difference between the 30-year CMS rate minus the five-year CMS rate minus 30 basis points multiplied by nine, with a floor of 0% and a cap of 15%. Interest is payable quarterly.
The notes will be callable quarterly, in whole but not in part, at par plus accrued and unpaid interest starting Aug. 31, 2022.
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: | $984,000
|
| Maturity: | Aug. 31, 2036
|
| Spread: | 30-year CMS rate minus five-year CMS rate
|
| Coupon: | 6% for first year, then difference between the 30-year CMS rate minus the five-year CMS rate minus 30 bps times nine, with floor of 0% and a cap of 15%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Quarterly at the issuer’s option at par plus accrued and unpaid interest starting Aug. 31, 2022
|
| Pricing date: | Aug. 27
|
| Settlement date: | Aug. 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 40057J6E1
|
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