By Jennifer Chiou
New York, Nov. 12 - Goldman Sachs Group, Inc. priced $7.7 million of callable quarterly CMS spread notes due Nov. 13, 2028 linked to the 30-year Constant Maturity Swap Rate and the five-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 9.25% for the first year. After that, it will be 4.25 times the spread of the 30-year CMS rate over the five-year CMS rate, up to a maximum interest rate of 10% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are callable at par plus accrued interest on any interest payment date beginning on Nov. 13, 2014.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly CMS spread notes
|
| Underlying rates: | 30-year Constant Maturity Swap and five-year CMS rate
|
| Amount: | $7.7 million
|
| Maturity: | Nov. 13, 2028
|
| Coupon: | 9.25% for first year; after that, 4.25 times CMS spread, capped at 10% and floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning on Nov. 13, 2014
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 13
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.534%
|
| Cusip: | 38147QK21
|
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