By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – GS Finance Corp. priced $5 million of quarterly CMS spread-linked notes due Aug. 14, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The interest rate is 3.75% for the first year. After that, it will be 11.25 times the 30-year Constant Maturity Swap rate minus the two-year CMS rate, subject to a maximum interest rate of 9% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | quarterly CMS spread notes
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| Underlying rates: | 30-year and two-year Constant Maturity Swap rates
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| Amount: | $5 million
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| Maturity: | Aug. 14, 2021
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| Coupon: | 3.75% for first year; after that, 11.25 times the 30-year CMS rate minus two-year CMS rate, subject to maximum interest rate of 9% per year and minimum interest rate of zero; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 14
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| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.5%
|
| Cusip: | 40055QR20
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