Goldman Sachs plans fixed-to-floaters due 2028 on 10-year CMS rate

By Sarah Lizee

Olympia, Wash., Sept. 13 – Goldman Sachs Group, Inc. plans to price fixed-to-floating notes due September 2028 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 5% for the two years. After that, the rate will be equal to the 10-year CMS rate plus a spread of 28 basis points. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Goldman Sachs & Co. and Incapital LLC are the agents.

The notes will price and settle in September.

The Cusip number is 38150ABH7.

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