By Marisa Wong
Madison, Wis., June 25 – Goldman Sachs Group, Inc. priced $7 million of fixed-to-floating-rate notes due June 30, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.5% for the first year. After that, the interest rate will be equal to Libor plus a spread of 62.5 basis points, subject to a minimum rate of zero and a maximum rate. The maximum rate is 2.5% for the first four floating-rate interest payment dates and 3% for the final four floating-rate interest payment dates. Interest is payable quarterly.
The payout at maturity will be par.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying: | Libor
|
| Amount: | $7 million
|
| Maturity: | June 30, 2018
|
| Coupon: | 1.5% initially; after one year, Libor plus 62.5 bps, subject to floor of zero and cap of 2.5% that steps up to 3% after one year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 23
|
| Settlement date: | June 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.45%
|
| Cusip: | 38148T5X3
|
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