By William Gullotti
Buffalo, N.Y., March 28 – GS Finance Corp. priced $4.5 million of floating-rate notes due March 23, 2063, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate will be calculated at compounded SOFR plus 65 basis points and subject to a floor of 0%. Interest is payable quarterly.
Subject to a $100,000 face amount minimum to exercise put rights, noteholders will be able to redeem the notes early, in whole or in part, on any annual redemption date starting March 23, 2027. The notes will be redeemed at 98 plus accrued and unpaid interest until 2043, stepping up to par for the 2044 redemption date and remaining at par until maturity.
The payout at maturity will be par plus accrued and unpaid interest.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Floating-rate notes
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| Underlying rate: | Compounded SOFR
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| Amount: | $4.5 million
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| Maturity: | March 23, 2063
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| Coupon: | SOFR plus 65 bps, subject to floor of 0%, payable quarterly; rate resets quarterly
|
| Price: | Par
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| Payout at maturity: | Par plus accrued and unpaid interest
|
| Put option: | At 98 plus accrued and unpaid interest on any annual redemption date starting March 23, 2027; payout steps up to par on the 2044 redemption, effective until maturity; put exercise subject to minimum $100,000 face amount
|
| Pricing date: | March 21
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| Settlement date: | March 23
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| Agent: | Goldman, Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057R6Y9
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