By Susanna Moon
Chicago, Dec. 22 - Goldman Sachs Group, Inc. priced $18.14 million of non-call one-year callable CMS spread notes due Dec. 30, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 11% per year for the first year. After that, the rate will be four times the spread between the 30-year Constant Maturity Swap rate and the two-year CMS rate minus 25 basis points, with a floor of 0% and a cap of 15%. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning Dec. 30, 2010.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | 15-year non-call one-year callable CMS spread notes
|
| Amount: | $18.14 million
|
| Maturity: | Dec. 30, 2024
|
| Coupon: | 11% per year for first year; after that, four times the spread of 30-year CMS rate over two-year CMS rate minus 25 bps; floor of 0% and cap of 15%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 30
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 4.702%
|
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