By Wendy Van Sickle
Columbus, Ohio, March 18 – GS Finance Corp. priced $11.8 million of callable fixed and floating rate notes due March 11, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The coupon is 5% until after March 11, 2022 when interest will equal the difference between the 30-year CMS rate minus the five-year CMS rate minus 0.25%, all times 6.5, with a floor of 0% and a cap of 10%. Interest is payable quarterly.
The notes will be callable quarterly starting March 11, 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: | $11,796,000
|
| Maturity: | March 11, 2031
|
| Spread: | 30-year CMS rate minus five-year CMS rate
|
| Coupon: | 5% for first year, then the difference between the 30-year CMS rate minus the five-year CMS rate minus 0.25%, all times 6.5, with floor of 0% and a cap of 10%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Quarterly starting March 11, 2022
|
| Pricing date: | March 9
|
| Settlement date: | March 11
|
| Underwriter: | Goldman, Sachs & Co. LLC
|
| Fees: | 5.15%
|
| Cusip: | 40057FLW2
|
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