GS Finance plans to price callable quarterly CMS spread notes due 2024

By Angela McDaniels

Tacoma, Wash., May 28 – GS Finance Corp. plans to price callable quarterly CMS spread-linked notes due May 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Goldman Sachs Group, Inc.

The interest rate will be 7.75 times the difference between the 30-year Constant Maturity Swap rate minus the two-year Constant Maturity Swap rate, subject to a maximum interest rate of 12% per year and a minimum interest rate of zero.

The payout at maturity will be par.

Beginning in November 2020, the notes will be callable at par on any interest payment date.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price and settle in May.

The Cusip number is 40056FK20.

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