By Susanna Moon
Chicago, Nov. 25 - Goldman Sachs Group, Inc. priced $1.1 million of notes due Nov. 30, 2015 based on the 10-year dollar interest swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay interest of 1% for the first five years, payable annually.
The payout at maturity will be par plus 15 times the spread of the 10-year dollar interest swap rate over the strike rate of 5% per year, up to a maximum amount of $1,750 per $1,000 principal amount of notes.
If the swap rate is at or below the strike rate, the payout will be par.
Goldman, Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Swap rate-linked notes
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Amount: | $1.1 million
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Maturity: | Nov. 30, 2015
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Coupon: | 1% for first five years, payable annually
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Price: | Par
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Payout at maturity: | Par plus 15 times 10-year dollar interest swap rate minus 5%, capped at 75%, if swap rate is at least 5%; otherwise, par
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.375%
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