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Updated from 1:07 a.m. EST

Goldman Sachs

(GS) - Get Free Report

priced an offering Tuesday of $5 billion of new debt that will be guaranteed by the Federal Deposit Insurance Corp.

The debt matures in June 2012. The debt, with a 3.25% coupon, is the first to be sold through a new FDIC program.

Goldman's issue is guaranteed under the FDIC's Temporary Liquidity Guarantee Program. The FDIC approved the program last week to guarantee banks' new senior unsecured debt, potentially allowing the firms to issue debt with top ratings.

Shares of Goldman rose 6.5% to $71.78.

This article was written by a staff member of