New Issue: Goldman sells $3.3 million 10-year fixed-to-floaters with 4.5% initial rate

By Marisa Wong

Morgantown, W.Va., July 21 – Goldman Sachs Group, Inc. priced $3.3 million of fixed-to-floating notes due July 10, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 4.5% initially. Beginning on Oct. 10, 2019, the rate will be equal to the 10-year CMS rate. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Goldman, Sachs & Co. and Incapital LLC are the agents.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Fixed-to-floating notes
Amount:	$3.3 million
Maturity:	July 10, 2027
Coupon:	4.5% initially; beginning Oct. 10, 2019, 10-year CMS rate, subject to 0% floor; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	June 30
Settlement date:	July 10
Agents:	Goldman, Sachs & Co. and Incapital LLC
Fees:	1.7%
Cusip:	38150A3S2

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