Goldman Sachs plans to price 15-year callable CMS spread notes

By Angela McDaniels

Tacoma, Wash., July 27 - Goldman Sachs Group, Inc. plans to price 15-year callable CMS spread notes, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 10% for the first year. After that, the rate will be four times the spread of the 10-year Constant Maturity Swap rate over the two-year CMS rate on the interest determination date, subject to a minimum rate of zero and a maximum rate of 10%. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38143UXB2.

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