By Sarah Lizee
Olympia, Wash., Dec. 4 – GS Finance Corp. priced $2.79 million of callable quarterly CMS spread-linked notes due Nov. 22, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly and will be equal to 8 times the spread of the 10-year Constant Maturity Swap rate minus the two-year CMS rate, subject to a minimum rate of 0%.
The payout at maturity will be par.
The notes are callable quarterly at par starting May 22, 2021.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable quarterly CMS spread notes
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Underlying rates: | 10-year and two-year Constant Maturity Swap rates
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Amount: | $2,792,000
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Maturity: | Nov. 22, 2024
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Coupon: | Payable quarterly and will be equal to 8 times the spread of the 10-year CMS rate minus the two-year CMS rate, subject to a minimum rate of 0%
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Price: | Par
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Payout at maturity: | Par
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Call option: | Callable quarterly at par starting May 22, 2021
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Pricing date: | Nov. 20
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Settlement date: | Nov. 22
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.85%
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Cusip: | 40056XQS8
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