Goldman Sachs plans seven-year fixed-to-floaters with 1% initial rate

By Marisa Wong

Madison, Wis., May 13 - Goldman Sachs Group, Inc. plans to price fixed-to-floating notes due May 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 1% for the first year and 2% for the second year. After that, it will be equal to Libor plus 125 basis points, subject to a minimum rate of 1.25%. Beginning in May 2017, the interest rate will be capped at a maximum rate of 6%. Interest is payable quarterly.

The payout at maturity will be par.

The notes (Cusip: 38141GTV6) are expected to settle in May.

Goldman Sachs & Co. is the underwriter.

© 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.