By Angela McDaniels
Tacoma, Wash., Jan. 9 - Goldman Sachs Group, Inc. priced $12 million of callable quarterly CMS spread-linked notes due Jan. 10, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 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 two-year Constant Maturity Swap rate minus 25 basis points, subject to a maximum rate of 9% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Beginning July 10, 2014, the notes will be callable at par on any interest payment date.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly CMS spread notes
|
| Underlying rates: | 30-year Constant Maturity Swap and two-year CMS rate
|
| Amount: | $12 million
|
| Maturity: | Jan. 10, 2029
|
| Coupon: | 9% for first year; after that, four times spread of 30-year CMS rate over two-year CMS rate less 25 bps, subject to cap of 9% per year and floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning July 10, 2014
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 10
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.354%
|
| Cusip: | 38147QAK2
|
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