By Toni Weeks
San Luis Obispo, Calif., Nov. 27 - Goldman Sachs Group, Inc. priced $9.25 million of callable quarterly CMS spread-linked notes due Nov. 27, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 10% for the first year. After that, the rate will be 4.65 times the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, subject to a minimum rate of zero and a maximum rate of 10% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning May 27, 2014, the notes will be callable at par on any interest payment date.
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: | $9.25 million
|
| Maturity: | Nov. 27, 2028
|
| Coupon: | 10% for first year; after that, 4.65 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 May 27, 2014
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.278%
|
| Cusip: | 38147QS23
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
