New Issue: Goldman prices $400,000 15-year callable quarterly CMS spread notes

By Toni Weeks

San Luis Obispo, Calif., April 16 - Goldman Sachs Group, Inc. priced $400,000 of callable quarterly CMS spread-linked notes due April 21, 2029, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be (i) 5 times (ii) the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a maximum annualized rate of 7% for the first 20 interest periods, 8% for the next 20 interest periods and 9% for the final 20 interest periods. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Beginning Oct. 21, 2014, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable quarterly CMS spread notes
Underlying rates:	30-year Constant Maturity Swap and two-year CMS rate
Amount:	$400,000
Maturity:	April 21, 2029
Coupon:	Five times the CMS spread, capped at 7% per year for first 20 interest periods, 8% for next 20 interest periods and 9% for final 20 interest periods, floor of 0%; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any interest payment date beginning Oct. 21, 2014
Pricing date:	April 14
Settlement date:	April 21
Underwriter:	Goldman Sachs & Co.
Fees:	3.55%
Cusip:	38147Q2Z8

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