By Angela McDaniels
Tacoma, Wash., Sept. 29 – Goldman Sachs Group, Inc. priced $5.85 million of callable quarterly CMS spread-linked notes due Sept. 30, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 8% for the first year. After that, it will be 4.5 times the CMS rate, subject to a maximum interest rate of 10% per year. The CMS spread is the difference between the 30-year Constant Maturity Swap rate minus the two-year CMS rate minus 25 basis points. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Beginning Sept. 30, 2015, 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 and two-year CMS rates
|
| Amount: | $5.85 million
|
| Maturity: | Sept. 30, 2029
|
| Coupon: | 8% for first year; after that, 4.5 times spread of 30-year CMS rate over two-year CMS rate minus 25 bps, subject to maximum interest rate of 10% per year and minimum interest rate of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Sept. 30, 2015 onward
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.66%
|
| Cusip: | 38147QHL3
|
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