By Jennifer Chiou
New York, Sept. 4 - Goldman Sachs Group, Inc. priced $4.25 million of callable quarterly CMS spread notes due Sept. 5, 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 10% for the first year. After that, it will be 4 times the spread of the 30-year CMS rate over the two-year CMS rate minus a spread of 25 basis points, up to a maximum interest rate of 10% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are callable at par plus accrued interest on any interest payment date after six months.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Callable quarterly CMS spread notes
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Underlying rates: | 30-year Constant Maturity Swap and two-year CMS rate
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Amount: | $4.25 million
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Maturity: | Sept. 5, 2028
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Coupon: | 10% for first year; after that, 4 times CMS spread less 25 bps, capped at 10% and floor of zero; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning on March 5, 2014
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.442%
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Cusip: | 38147QQJ8
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