By Kiku Steinfeld
Chicago, April 26 – GS Finance Corp. priced $500,000 of callable fixed and floating rate notes due Sept. 30, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 4% until Sept. 30, 2022 when interest will equal the difference between the 30-year Constant Maturity Swap rate minus the five-year Constant Maturity Swap rate multiplied by 4, with a floor of 1% and a cap of 8%. Interest is payable quarterly.
The notes will be callable quarterly, in whole but not in part, at par plus accrued and unpaid interest starting Sept. 30, 2022.
The payout at maturity will be par.
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: | $500,000
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| Maturity: | Sept. 30, 2031
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| Spread: | 30-year Constant Maturity Swap rate minus five-year Constant Maturity Swap rate
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| Coupon: | 4% for first year, then difference between the 30-year CMS rate minus the five-year CMS rate times 4, with floor of 1% and a cap of 8%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Quarterly at the issuer’s option at par plus accrued and unpaid interest starting Sept. 30, 2022
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| Pricing date: | Sept. 28, 2021
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| Settlement date: | Sept. 30, 2021
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 40057JKT2
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