By Susanna Moon
Chicago, March 9 – GS Finance Corp. priced $1.2 million of callable CMS spread-linked notes due Feb. 26, 2023 based on the CMS spread of the 10-year CMS rate over the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are callable at par on any quarterly interest payment date after one year.
Interest will be 4.25% for the first year, payable quarterly. After that, the rate will be 8 times the spread of the 10-year CMS rate less the two-year CMS rate, up to a maximum interest rate of 10% and a minimum rate of 1%.
The payout at maturity will be par.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable CMS spread notes
|
| Amount: | $1.2 million
|
| Maturity: | Feb. 26, 2023
|
| Coupon: | 4.25% for one year; after that, 8 times the spread of 10-year CMS rate over two-year CMS rate, capped at 10% and floor of 1%, payable quarterly
|
| Price: | Par
|
| Call option: | At par on any quarterly interest payment date beginning Feb. 26, 2019
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 26
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.9%
|
| Cusip: | 40055AM20
|
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