By Jennifer Chiou
New York, Feb. 24 - Goldman Sachs Group, Inc. priced $5.56 million of non-call one-year callable CMS spread notes due Feb. 25, 2025, 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 4.5 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 Feb. 25, 2011.
Goldman, Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | 15-year non-call one-year callable CMS spread notes
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Amount: | $5,556,000
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Maturity: | Feb. 25, 2025
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Coupon: | 11% per year for first year; after that, 4.5 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
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Feb. 25, 2011
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Pricing date: | Feb. 22
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Settlement date: | Feb. 25
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 4.299%
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Cusip: | 38143UGH8
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