Goldman Sachs to price 7.65% to 9% notes linked to 10-year CMS rate

By Angela McDaniels

Tacoma, Wash., Sept. 26 – Goldman Sachs Group, Inc. plans to price notes due Oct. 6, 2017 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is expected to be 7.65% to 9% per year and will be set at pricing. Interest will be payable quarterly.

If the final reference rate is greater than or equal to the threshold level, 75% of the initial reference rate, the payout at maturity will be par.

If the final reference rate is less than the threshold level, investors will lose 1.333% for every 1% that the reference rate’s decline exceeds 25%.

Goldman Sachs & Co. is the underwriter.

The notes will price Sept. 29.

The Cusip number is 38148TNY1.

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