By Susanna Moon
Chicago, Aug. 1 – Goldman Sachs Group, Inc. priced $4 million of callable quarterly CMS spread-linked notes due Aug. 6, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 8% for the first year. After that, it will accrue at 4 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, up to a maximum interest rate of 8%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
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 and two-year CMS rates
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Amount: | $4 million
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Maturity: | Aug. 6, 2029
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Coupon: | 8% for first year; after that, 4 times spread of 30-year CMS rate over two-year CMS rate, capped at 8%; 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 Aug. 6, 2015
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Pricing date: | July 30
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Settlement date: | Aug. 6
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.1%
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Cusip: | 38147QDQ6
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