GS Finance plans to price callable quarterly CMS spread notes due 2023

By Sarah Lizee

Olympia, Wash., Dec. 30 – GS Finance Corp. plans to price callable quarterly CMS spread-linked notes due December 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The interest rate will be 4 times the difference between the 10-year Constant Maturity Swap rate minus the two-year Constant Maturity Swap rate, subject to a maximum interest rate of 6% per year and a minimum interest rate of zero.

The payout at maturity will be par.

Beginning in December 2020, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price in December.

The Cusip number is 40056XW28.

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