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Goldman Sachs to price 15-year callable quarterly CMS spread notes
By Angela McDaniels
Tacoma, Wash., Jan. 30 - Goldman Sachs Group, Inc. plans to price 15-year callable CMS spread-linked notes, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 9% for the first year. After that, the rate will be (a) four times (b) the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate minus 0.2%, subject to a minimum rate of zero and a maximum rate of 9.25% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning in February 2014, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 38141GNA8.
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