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Goldman Sachs to price 15-year callable quarterly CMS spread notes
By Toni Weeks
San Luis Obispo, Calif., March 19 - Goldman Sachs Group, Inc. plans to price 15-year callable quarterly CMS spread-linked notes, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 10% for the first year. After that, the rate will accrue at (i) 5.15 times (ii) the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, up to a maximum rate of 10% per year and a floor of 0%. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning in September 2014.
Goldman Sachs & Co. is the underwriter.
The Cusip is 38147QWX0.
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