By Wendy Van Sickle
Columbus, Ohio, July 10 – GS Finance Corp. priced $550,000 of callable quarterly CMS spread-linked notes due June 28, 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.
The notes are non-callable.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly CMS spread notes
|
| Underlying rates: | 30-year and two-year Constant Maturity Swap rates
|
| Amount: | $550,000
|
| Maturity: | June 28, 2023
|
| 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
|
| Call option: | Non-callable
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.636%
|
| Cusip: | 40055QDW9
|
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