By Toni Weeks
San Luis Obispo, Calif., Sept. 19 - Goldman Sachs Group, Inc. priced $9.25 million of 15-year callable quarterly CMS spread notes due Sept. 20, 2028 linked to the 30-year Constant Maturity Swap rate and the two-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 8.625% during the first year. After that, the coupon will be four times the spread of the 30-year CMS rate over the two-year CMS rate, subject to a maximum rate of 8.625%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are callable in whole at par plus accrued interest on any interest payment date beginning March 20, 2014.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly CMS spread notes
|
| Underlying rates: | 30-year Constant Maturity Swap rate and two-year CMS rate
|
| Amount: | $9.25 million
|
| Maturity: | Sept. 20, 2028
|
| Coupon: | 8.625% for first year; after that, four times CMS spread, capped at 8.625% with floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning March 20, 2014
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 20
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.477%
|
| Cusip: | 38147QUW4
|
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