New Issue: Goldman prices $2 million fixed-to-floaters tied to five-year CMS rate

By Toni Weeks

San Luis Obispo, Calif., April 6 – Goldman Sachs Group, Inc. priced $2 million of fixed-to-floating notes due April 6, 2020 linked to the five-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2% for the first year. After that, the interest rate will be equal to the five-year CMS rate times 0.85, subject to a minimum rate of zero. Interest will be payable quarterly.

The payout at maturity will be par.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Fixed-to-floating notes
Underlying:	Five-year CMS rate
Amount:	$2 million
Maturity:	April 6, 2020
Coupon:	2% initially; beginning April 6, 2016, equal to five-year CMS rate times 0.85, floor of zero; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 31
Settlement date:	April 6
Underwriter:	Goldman Sachs & Co.
Fees:	1.45%
Cusip:	38147QY59

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