Goldman Sachs plans fixed-to-floaters due 2023 with 2% initial rate

By Susanna Moon

Chicago, March 21 - Goldman Sachs Group, Inc. plans to price fixed-to-floating-rate notes due April 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2% for the first two years. After April 2015, the rate will be Libor plus 150 basis points, with a minimum rate of 1.5%, and up to a maximum rate of 5% beginning in July 2017. Interest will be payable quarterly.

The payout at maturity will be par.

Goldman Sachs & Co. is the agent.

The notes will settle in April.

The Cusip number is 38141GRB2.

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