By Jennifer Chiou
New York, June 12 - Goldman Sachs Group, Inc. priced $1.57 million of callable CMS spread notes due June 24, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and accrues at 12% per year for the first year. After that, the interest rate will equal six times the spread of the 10-year Constant Maturity Swap over the two-year CMS rate, subject to a floor of zero and a cap of 18% per year.
The payout at maturity will be par.
Beginning June 24, 2010, the notes are callable at par on any interest payment date.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable CMS spread notes
|
| Amount: | $1,574,000
|
| Maturity: | June 24, 2014
|
| Coupon: | 12% per year for first year; after that, six times the spread of the 10-year CMS rate over the two-year CMS rate with a floor of zero and a cap of 18%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from June 24, 2010 onward
|
| Pricing date: | June 10
|
| Settlement date: | June 24
|
| Underwriter: | Goldman, Sachs & Co.
|
| Fees: | 4.475%
|
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