Published on 2/14/2022 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $3 million fixed- and floating-rate notes linked to swap rate
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – Goldman Sachs Group, Inc. priced $3 million of fixed- and floating-rate notes due Feb. 11, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is initially 2.5%. After Feb. 11, 2024, it will be the five-year U.S. dollar SOFR ICE swap rate plus 108 basis points, subject to a minimum interest rate of 0% and the maximum rate of 5% per year.
The payout at maturity will be par plus accrued interest.
Goldman Sachs & Co. LLC and InspereX LLC are the agents.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Fixed- and floating-rate notes
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Underlying rate: | Five-year U.S. dollar SOFR ICE swap rate
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Amount: | $3 million
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Maturity: | Feb. 11, 2032
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Coupon: | 2.5% initially; after Feb. 11, 2024, five-year U.S. dollar SOFR ICE swap rate plus 108 bps, with floor of 0% and cap of 5%
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Price: | Par
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Payout at maturity: | Par plus accrued interest
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Pricing date: | Feb. 9
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Settlement date: | Feb. 11
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Underwriters: | Goldman, Sachs & Co. LLC and InspereX LLC
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Fees: | 0.75%
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Cusip: | 38150AKN4
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