By Wendy Van Sickle
Columbus, Ohio, May 31 – GS Finance Corp. priced $1.89 million of callable quarterly CMS spread-linked notes due May 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate will be 5% for the first year, payable quarterly. After that it will be 20 times the spread of the 30-year Constant Maturity Swap rate minus the two-year CMS rate, subject to a maximum interest rate of 10% per year.
The payout at maturity will be par.
Beginning May 30, 2019, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable quarterly CMS spread notes
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| Underlying rates: | 30-year and two-year Constant Maturity Swap rates
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| Amount: | $1.89 million
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| Maturity: | May 30, 2023
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| Coupon: | 5% for first year, then 20 times 30-year CMS rate minus two-year CMS rate, subject to maximum interest rate of 10% per year and minimum interest rate of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
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| Call option: | At par on any interest payment date from May 30, 2019 onward
|
| Pricing date: | May 24
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| Settlement date: | May 30
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.387%
|
| Cusip: | 40055Q2D3
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