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

By Angela McDaniels

Tacoma, Wash., Oct. 1 – Goldman Sachs Group, Inc. plans to price 15-year callable quarterly CMS spread-linked notes, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 10% for the first year. After that, it will be (a) six times (b) the spread of the 10-year Constant Maturity Swap rate over the two-year CMS rate minus 25 basis points, subject to a maximum interest rate of 10% per year. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Beginning in October 2015, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38147QJU1.

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