By Toni Weeks
San Luis Obispo, Calif., March 11 - Goldman Sachs Group, Inc. priced $2.6 million of callable quarterly CMS spread-linked notes due March 12, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be (i) 6 times (ii) the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a maximum rate of 6% for the first 20 interest periods, 7% for the next 20 interest periods and 8% for the final 20 interest periods. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Beginning Sept. 12, 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: | $2.6 million
|
| Maturity: | March 12, 2029
|
| Coupon: | 6 times CMS spread, capped at 6% for first 20 interest periods, 7% for next 20 interest periods and 8% for final 20 interest periods; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Sept. 12, 2014
|
| Pricing date: | March 7
|
| Settlement date: | March 12
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.738%
|
| Cusip: | 38147QRT5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
