Published on 11/28/2011 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $23.5 million callable step-up notes with 2.4% initial rate
By Toni Weeks
San Diego, Nov. 28 - Goldman Sachs Group, Inc. priced $23.5 million of callable step-up fixed-rate notes due Nov. 28, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 2.4% for the first year. It will step up to 3.5% on Nov. 28, 2012 and to 5% on Nov. 28, 2013. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on each Feb. 28, May 28, Aug. 28 and Nov. 28 beginning May 28, 2012.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $23.5 million
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Maturity: | Nov. 28, 2014
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Coupon: | Initially 2.4%, stepping up to 3.5% on Nov. 28, 2012 and to 5% on Nov. 28, 2013; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on each Feb. 28, May 28, Aug. 28 and Nov. 28 beginning May 28, 2012
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Underwriters: | Goldman Sachs & Co. and Incapital LLC
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Fees: | 0.874%
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Cusip: | 38143UZX2
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