New Issue: Goldman sells $2 million callable step-up notes with 3.25% initial rate

By Marisa Wong

Morgantown, W.Va., Nov. 6 – Goldman Sachs Group, Inc. priced $2 million of callable step-up fixed-rate notes due Oct. 31, 2032, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3.25% initially, stepping up to 3.5% on Oct. 31, 2022, to 4% on Oct. 31, 2026, to 5% on Oct. 31, 2030 and to 6% on Oct. 31, 2031. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par each January, April, July and October starting Oct. 31, 2018.

Goldman, Sachs & Co. and Incapital LLC are the underwriters.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$2 million
Maturity:	Oct. 31, 2032
Coupon:	3.25% initially, stepping up to 3.5% on Oct. 31, 2022, to 4% on Oct. 31, 2026, to 5% on Oct. 31, 2030 and to 6% on Oct. 31, 2031; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par each January, April, July and October starting Oct. 31, 2018
Pricing date:	Oct. 27
Settlement date:	Oct. 31
Underwriters:	Goldman, Sachs & Co. and Incapital LLC
Fees:	2.5%
Cusip:	38150A4U6

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.