By Wendy Van Sickle
Columbus, Ohio, June 12 – GS Finance Corp. priced $1 million of callable quarterly CMS spread-linked notes due May 31, 2024, 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 7.75 times the spread of the 30-year Constant Maturity Swap rate minus the two-year CMS rate, subject to a maximum interest rate of 12% per year.
The payout at maturity will be par.
The notes are callable at par beginning Nov. 30, 2020.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| 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
|
| Amount: | $1 million
|
| Maturity: | May 31, 2024
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| Coupon: | 7.75 times 30-year CMS rate minus two-year CMS rate, subject to maximum interest rate of 12% per year and minimum interest rate of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par beginning Nov. 30, 2020
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| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.65%
|
| Cusip: | 40056FK20
|
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