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Goldman to price 15-year callable quarterly CMS spread notes
By Jennifer Chiou
New York, Jan. 24 - Goldman Sachs Group, Inc. plans to price callable quarterly CMS spread notes due 2028 linked to the 30-year Constant Maturity Swap Rate and the five-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 9% for the first year. After that, it will be four times the spread of the 30-year CMS rate over the five-year CMS rate, minus 20 bps, up to a maximum interest rate of 9.25% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes (Cusip: 38141GMR2) are callable at par plus accrued interest on any interest payment date after one year.
Goldman Sachs & Co. is the underwriter.
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