New York, June 27 – GS Finance Corp. priced $1.17 million of callable quarterly CMS spread-linked notes due June 27, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate will be 5% for the first year, payable quarterly. After that it will be 10 times the spread of the 30-year Constant Maturity Swap rate minus the two-year CMS rate, subject to a maximum interest rate of 10% per year.
The payout at maturity will be par.
The notes are non-callable.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | 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 Constant Maturity Swap rates
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Amount: | $1,165,000
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Maturity: | June 27, 2023
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Coupon: | 5% for first year, then 10 times 30-year CMS rate minus two-year CMS rate, subject to maximum interest rate of 10% per year and minimum interest rate of zero; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | Non-callable
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Pricing date: | June 25
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Settlement date: | June 27
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.7%
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Cusip: | 40055QGE6
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