The details of the put options were omitted in a story about Goldman Sachs Group, Inc.’s $24.27 million of floating-rate notes due Oct. 30, 2058 that was included in the Nov. 1 edition of the Prospect News Structured Products Daily. A corrected version follows.
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Goldman Sachs Group, Inc. priced $24.27 million of floating-rate notes due Oct. 30, 2058, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will Libor minus a spread of 30 basis points. Interest is payable quarterly and cannot be less than zero.
Beginning on the Oct. 30, 2021 payment date, holders may require Goldman Sachs to redeem their notes, in whole or in part in increments of at least $100,000, annually on each October interest payment date.
The redemption price will be 98 from Oct. 30, 2021 to and including Oct. 30, 2028; 99 from Oct. 30, 2029 to and including Oct. 30, 2038; and par beginning on Oct. 30, 2039.
The payout at maturity will be par.
Goldman Sachs & Co. is the agent.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Floating-rate notes
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| Amount: | $24.27 million
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| Maturity: | Oct. 30, 2058
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| Coupon: | Libor minus 30 bps, 0% floor; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Put option: | At 98 each Oct. 30 from 2021 through 2028; at 99 each Oct. 30 from 2029 through 38; and at par each Oct. 30 beginning in 2039
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.9%
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| Cusip: | 38150ABQ7
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